A firm facing price dependent stochastic demand aims to maximize its total expected profit over a planning horizon. In addition to the regular unit selling price, the firm can utilize quantity discounts to increase sales. We refer to this dual-pricing strategy as quantity-based price differentiation. At the beginning of each period, the firm needs to make three decisions: replenish the inventor...

In this paper numerical results are reviewed ([13]) that demonstrate that common second-order operator-splitting methods can exhibit instabilities when integrating the Brusselator equations out to moderate times of about seven periods of oscillation. These instabilities are manifested as high wave number spatial errors. In this paper we further analyze this problem and present a theorem for sta...

Article history: Received 27 January 2009 Received in revised form 14 March 2009 Accepted 22 April 2009 Available online xxxx Communicated by F.Y.L. Chin

We introduce natural strategic games on graphs, which capture the idea of coordination in a local setting. We show that these games have an exact potential and have strong equilibria when the graph is a pseudoforest. We also exhibit some other classes of graphs for which a strong equilibrium exists. However, in general strong equilibria do not need to exist. Further, we study the (strong) price...

This paper studies an exchange economy with indivisibilities. Our main goal is to see if a price system can function well in an economy (e.g., an economy with complementary preferences) that does not have a Walrasian equilibrium. We study the price adjustment processes governed by the Euler iterative scheme. We show that in an economy that has a Walrasian equilibrium, our price adjustment proce...

This paper presents a new bidding strategy for continuous double auctions (CDA) designed for Mertacor, a successful trading agent, which won the first price in the “travel game” of Trading Agent Competition (TAC) for 2005. TAC provides a realistic benchmarking environment in which various travel commodities are offered in simultaneous online auctions. Among these, entertainment tickets are trad...

In this paper, robust stability properties of periodic discrete time systems are investigated. Analytic expressions are derived for the stability radius in the scalar case.

A proper understanding of reservoir fluid phase behavior is the first crucial step in the development and production of an oil/gas field. This paper addresses the challenges and errors associated with the fluid sampling that may arise before, during and after the sampling operation. For this aim, DST and PVT data of exploration and production wells of a supergiant offshore gas condensate reserv...

In the space of designs by which to auction off a single good, we have seen that there is a significant difference between a payment scheme that charges the second-highest bid, and one in which bidders pay their bids. In this lecture, we introduce a new payment and allocation scheme, called the posted-price mechanism, in which the auctioneer announces (i.e., posts) the price π at which they are...

In a discrete preference game, each agent is equipped with an internal belief and declares her preference from a discrete set of alternatives. The payoff of an agent depends on whether the declared preference agrees with the belief of the agent and on the coordination with the preferences declared by the neighbors of the agent in the underlying social network. These games have been used to mode...