In this paper, the impact of endogenous information provision to drivers in road transport is investigated. A static economic equilibrium model is used, which allows potential road users to buy information on the prevailing (stochastic) traffic situation. It takes for granted that an indiviual will try to acquire proper information when the private benefits of doing so exceed the private costs....

Consider a seller who is endowed with a fixed number of units of a product that he/she can sell to a price-sensitive and stochastically arriving stream of consumers during a given selling season. The seller’s problem is to dynamically adjust the product’s price to maximize the revenues he/she can collect if no replenishment is possible during the sales horizon. This setting is quite typical of ...

An unresolved problem in Bayesian decision theory is how to value and price information. This paper resolves both problems assuming inexpensive information. Building on Large Deviation Theory, we produce a generically complete asymptotic order on samples of i.i.d. signals in finite-state, finite-action models. Computing the marginal value of an additional signal, we find it is eventually expone...

Information integration provides a competitive advantage to businesses and is fundamental to on demand computing. It is strategic area of investment by software companies today whose goal is to provide a unified view of the data regardless of differences in data format, data location and access interfaces, dynamically manage data placement to match availability, currency and performance require...

Information technology is vital to supply chain management in the areas of integration and information sharing. Demand-Driven is a characteristic in Lean and Agile supply chains. Based on recent developments, we suggest that there is a new demand-driven strategy emerging for supply chain management. This new form of demand-driven strategy is information technology intensive and is becoming a di...

In theory, speech recognition technology can make any spoken words in video or audio media subject to text indexing, search and retrieval. This article describes the News-on-Demand application created within the InformediaTM Digital Video Library project and discusses how speech recognition is used for transcript creation from video, time alignment of closed-captioned transcripts, a speech quer...

There is a growing consensus that a portfolio of customers with different demand lead times can lead to higher, more regular revenues and better capacity utilization. Customers with positive demand lead times place orders in advance of their needs, resulting in advance demand information. This gives rise to the problem of finding effective inventory control policies under advance demand informa...

We study the incentives of two competing firms — the building block of any supply chain with downstream competition — to exchange private demand signals when demand is uncertain. The novelty and fundamental contribution of our paper lies in its consideration of ex–post or strategic information sharing, where the decision to share or to conceal a private demand signal is made after observing the...

Demand for business intelligence solutions continues to grow in the industry at record rates to combat competitive pressures and to attain business agility. Still organizations continue to struggle on how to implement successful business intelligence solutions. Despite its growing popularity and maturity as a field, it appears that organizations follow key guidelines that ensure the failure of ...