Airfares are determined by both intertemporal price discrimination and dynamic adjustment to stochastic demand. I estimate a model of dynamic airline pricing accounting for both forces with new flight-level data. With model estimates, I disentangle key interactions between the arrival pattern of consumer types and remaining capacity under stochastic demand. I show that the forces are complement...

Airfares are determined by both intertemporal price discrimination and dynamic adjustment to stochastic demand. I estimate a model of dynamic airline pricing accounting for both forces with new flight-level data. With model estimates, I disentangle key interactions between the arrival pattern of consumer types and remaining capacity under stochastic demand. I show that the forces are complement...

Wind imposes costs on power systems due to uncertainty and variability of real-time resource availability. Stochastic programming and demand response are offered as two possible solutions to mitigate these so-called wind-uncertainty costs. We examine the benefits of these two solutions, and show that although both will reduce wind-uncertainty costs, demand response is significantly more effecti...

In this paper, a novel way of modeling uncertainty on demand in the single-item dynamic lot sizing problem is proposed and studied. The not related to quantity, but rather timing, i.e., fully occurs single period given time interval with probability no partial delivery allowed. first motivated modeled. Our naturally correlates uncertain demands different periods contrary most literature sizing....

This study aims to evaluate the effect of sentiments on Iran's economy through a New Keynesian Dynamic Stochastic General Equilibrium model in a closed economy. In this study, the coefficients of the proposed model are calibrated and estimated using the quarterly data of Iran's economy from 2004 to 2015. It shows that in the presence of sentiment, how stochastic impulses affect the main macroec...

This paper presents a mathematical model for designing cellular manufacturing systems (CMSs) solved by genetic algorithms. This model assumes a dynamic production, a stochastic demand, routing flexibility, and machine flexibility. CMS is an application of group technology (GT) for clustering parts and machines by means of their operational and / or apparent form similarity in different aspects ...