This paper investigates a stochastic inventory management problem in which cash-constrained small retailer periodically purchases product and sells it to customers while facing non-stationary demand. In each period, the retailer’s available cash restricts maximum quantity that can be ordered. There is fixed ordering cost incurred when an order issued by retailer. We introduce heuristic (s,C(x),...

A random variable Y1 is said to be smaller than Y2 in the increasing concave stochastic order if E[ϕ(Y1)]≤E[ϕ(Y2)] for all functions ϕ which expected values exist, and convex E[ψ(Y1)]≤E[ψ(Y2)] ψ. This article develops nonparametric estimators conditional cumulative distribution Fx(y)=ℙ(Y≤y|X=x) of a response Y given covariate X, solely under assumption that distributions are x or order. Uniform...

Adaptive stochastic optimization (ASO) optimizes an objective function adaptively under uncertainty. It plays a crucial role in planning and learning under uncertainty, but is, unfortunately, computationally intractable in general. This paper introduces two conditions on the objective function, the marginal likelihood rate bound and the marginal likelihood bound, which, together with pointwise ...

This paper introduces stochastic process algebras as an approach for the structured design and analysis of both the functional behavior and performance characteristics of parallel and distributed systems. This is achieved by integrating stochastic modelling and analysis into process algebras like CCS or LOTOS. We demonstrate how notions of equivalent behavior – substantial for process algebras ...

This paper discusses the hazard rate order of fail-safe systems arising from two sets independent multiple-outlier scale distributed components. Under certain conditions on parameters in model and submajorization between sample size vectors, ordering corresponding random variables is established. Archimedean copula parameters, we also discuss usual stochastic these with dependent

This paper studies stochastic inventory problems with unbounded Markovian demands, ordering costs that are lower semicontinuous, and inventory/backlog (or surplus) costs that are lower semicontinuous with polynomial growth. Finite horizon problems, stationary and nonstationary discounted cost in nite horizon problems, and stationary long-run average cost problems are addressed. Existence of opt...