Joint economic lot sizing (JELS) addresses integrated inventory models in a supply chain. Most of the studies in this field either do not consider the role of the transportation cost in their analysis or consider transportation cost as a fixed part of the ordering costs. In this article, a model is developed to analyze an incremental quantity discount in transportation cost. Appropriate equatio...

The objective of this paper is to adopt a general equilibrium model and determine the socially e¢ cient discount factor, risk free rate and discount rate when there are heterogeneous anticipations about the growth of the economy as well as heterogeneous time preference rates. Among others we tackle the following questions. Is the socially e¢ cient discount factor an arithmetic average of the in...

In general terms, decreasing impatience means decreasing discount rates. This property has been usually referred to as hyperbolic discounting, although there are other discount functions which also exhibit decreasing discount rates. This paper focuses on the measurement of the impatience associated with a discount function with the aim of establishing a methodology to compare this characteristi...

BACKGROUND In cost-effectiveness analysis, discount rates are used in calculating the value of future costs and benefits. However, standard discount rates may not accurately describe the decision-making of patients with ulcerative colitis (UC). These patients often choose the long-term risks of immunosuppressive therapy over the short-term risks of colectomy, demonstrating very high discount ra...

In this paper, I examine how time-varying discount factors can contribute to labor market volatility in a Diamond-Mortensen-Pissarides matching model. I find that the procyclical discount factor of either entrepreneurs or workers can magnify labor market volatility. Quantitatively, the entrepreneur’s discount factor has a larger effect than the worker’s discount factor. To account for the obser...

We investigate an automobile supply chain where a manufacturer and a retailer serve heterogeneous consumers with electric vehicles (EVs) under a government’s price-discount incentive scheme that involves a price discount rate and a subsidy ceiling. We show that the subsidy ceiling is more effective in influencing the optimal wholesale pricing decision of the manufacturer with a higher unit prod...

We estimate discount rates of 555 subjects using a laboratory task and find that these individual discount rates predict inter-individual variation in field behaviors (e.g., exercise, BMI, smoking). The correlation between the discount rate and each field behavior is small: none exceeds 0.28 and many are near 0. However, the discount rate has at least as much predictive power as any variable in...

A mathematical formalism is developed for the existence of unique invariants associated with wide classes of observed discounting behavior. These invariants are ‘exponential discount rate spectra,’ derived from the theory of completely monotone functions. Exponential discounting, the empirically important case of hyperbolic discounting, and so-called sub-additive discounting are each special ca...