Citation: Raicevich S, Battaglia P, Fortibuoni T, Romeo T, Giovanardi O and Andaloro F (2017) Critical Inconsistencies in Early Implementations of the Marine Strategy Framework Directive and Common Fisheries Policy Objectives Hamper Policy Synergies in Fostering the Sustainable Exploitation of Mediterranean Fisheries Resources. Front. Mar. Sci. 4:316. doi: 10.3389/fmars.2017.00316 Critical Inco...

We show that long-run average cost function for the (R, T) policy with normally distributed demand has a structure similar to that of the corresponding (Q, r) model so that many of the useful properties of the latter model are applicable. In particular, (i) the optimal cost is relatively insensitive to the choice of the reorder interval, T, provided a near-optimal R corresponding to the chosen ...

t=1 γ (P 1P o2 . . . P o)t (Y |x) for all Y ⊆ X and x ∈ X. We will assume throughout this supplementary material that when we refer to an optimal policy π∗, it is a policy over primitive actions. Because we have assume that O contains the set of primitive actions A, the fixed point of the SMDP Bellman operator T and the MDP Bellman operator T is the optimal value function V ∗. Thus Tπ is equiva...

Athanasios Orphanides and John C. Williams’ excellent conference paper, “Inflation Scares and Forecast-Based Monetary Policy,” contributes importantly to the new and rapidly growing branch of the literature on bounded rationality and learning in macroeconomics. Their paper, like many others, derives interesting and useful theoretical results that show how the introduction of bounded rationality...

This paper argues that the largely unrealized potential of agricultural science and technology (S&T) in promoting growth and poverty reduction in developing countries results from deeply rooted incompatibility among policy environments, institutional arrangements, and micro conditions and behavior in agricultural research and development (R&D). Achieving growth and poverty reduction based on gr...

In this paper, we consider a single-item periodic-review stochastic inventory system with both minimum order quantity (MOQ) and batch ordering requirements. In each time period, the firm can order either none or at least as much as the MOQ. At the same time, if an order is placed, the order quantity is required to be an integral multiple of a given specific batch size. We first adopt a heuristi...

We consider a stylized dynamic pricing model in which a monopolist prices a product to a sequence of T customers, who independently make purchasing decisions based on the price offered according to a general parametric choice model. The parameters of the model are unknown to the seller, whose objective is to determine a pricing policy that minimizes the regret, which is the expected difference ...

Athanasios Orphanides and John C. Williams’ excellent conference paper, “Inflation Scares and Forecast-Based Monetary Policy,” contributes importantly to the new and rapidly growing branch of the literature on bounded rationality and learning in macroeconomics. Their paper, like many others, derives interesting and useful theoretical results that show how the introduction of bounded rationality...