taxation and international migration of superstars evidence from the european football market we analyze the effects of top tax rates on international migration of football players in 14 european countries since 1985 both country case studies and multinomial regressions show evidence of strong mobility responses to tax rates with an elasticity of the number of foreign domestic players to the net of tax rate around one around 0 15 we also find evidence of sorting effects low taxes attract highability players who displace low ability players and displacement effects low taxes on foreigners displace domestic players those results can be rationalized in a simple model of migration and taxation with rigid labor demand jel f22 h24 h31 j44 j61 l83

an economic lot size model with non linear holding cost hinging on time and quantity abstract this paper develops an economic lot size inventory model where the demand rate depends on the stock level and the cumulative holding cost is non linear on both the quantity and the time they are stored more concretely it is supposed that the demand rate is a concave potential function of the inventory level and the holding cost is potential on both time and quantity moreover shortages are not allowed a general procedure to determine the optimal lot size and the maximum inventory profit is developed also some results about the profitability of the inventory system are presented this work extends several inventory models previously considered in the literature finally numerical examples which help us to understand the theoretical results are also given

pricing and lot sizing polices for perishable goods when the demand depends on selling price displayed stocks and expiration date abstract price is a major factor on the demand based on marketing and economic theory in addition the demand for perishable products also depends on its freshness moreover it is a well known fact that increasing stock display e g fresh fruits vegetables baked goods may encourage consumers to purchase more this paper first proposes an inventory model that stipulates the demand explicitly in a multivariate function of price freshness and displayed stocks it may be profitable to have a closeout sale at a markdown price and always keep on hand displayed stocks fresh and plentiful if the demand is freshness and stock dependent hence the traditional assumption of zero ending inventories is relaxed to a non zero ending inventory as a result the objective is to determine three decision variables i e unit price cycle time and ending inventory level in order to maximize the total profit then it is demonstrated that the total profit is strictly pseudo concave in those three decision variables which reduces the search for solutions to a unique local maximum finally numerical examples to illustrate the theoretical results and to highlight managerial insights are presented

model and heuristic algorithm of the joint replenishment problem with complete backordering and correlated demand abstract in practice demands for items are often correlated with each other because of cross selling effects traditional inventory models hold the assumption that demands are independent which may lead to the risk of misestimating the inventory cost of associated items this paper addresses a multi item inventory system where demands for some minor items are correlated with that for a major item because of the cross selling demand for minor items may either be raised by the sales of the major item or be pulled down by the unsatisfied demands for the major item thus a joint inventory policy considering correlations across items should be pursued considering general integer policy we propose a joint replenishment problem jrp model with complete backordering and correlated demand through the use of derivatives the model is transformed to minimize a cost function with respect to multiples of the major item s order cycle given that the optimal solution should offer a trade off between the ordering cost and the inventory holding cost of each item we develop a heuristic algorithm by adjusting the replenishment frequencies of minor items to solve the model the heuristic is tested by simulated numerical examples and shows satisfactory results

a comparative study of efficiency in european banking this paper investigates whether there has been an improvement in and convergence of productive efficiency across european banking markets since the creation of the single internal market using efficiency measures derived from dea estimation the determinants of european bank efficiency are evaluated using the tobit regression model approach the established literature on modelling the determinants of bank efficiency is then extended by recognizing the problem of the inherent dependency of dea efficiency scores when used in regression analysis to overcome the dependency problem a bootstrapping technique is applied overall the results suggest that since the eu s single market programme there has been a small improvement in bank efficiency levels although there is little evidence to suggest that these have converged the results also suggest that inference on the determinants of bank efficiency drawn from non bootstrapped regression analysis may be biased and misleading

an economic order quantity model with partial backordering and all units discount abstract the classic economic order quantity model assumes that the unit purchasing cost is not based on the order quantity in practice a supplier may offer purchasers an all units discount we develop a model and solution procedure for the eoq with all unit discounts and partial backordering at a constant rate we show and illustrate with a numerical example how that model can be used to find the solution for the eoq with discount and full backordering a multi factor experiment is used to gain insights into the improvement in performance of the proposed procedure relative to using the basic eoq or the eoq with full backordering and to identify the model parameters that have the greatest impact on the model s performance

dominance stochastic models in data envelopment analysis abstract in this paper stochastic models in data envelopment analysis dea are developed by taking into account the possibility of random variations in input output data and dominance structures on the dea envelopment side are used to incorporate the modelbuilder s preferences and to discriminate efficiencies among decision making units dmus the efficiency measure for a dmu is defined via joint dominantly probabilistic comparisons of inputs and outputs with other dmus and can be characterized by solving a chance constrained programming problem deterministic equivalents are obtained for multivariate symmetric random errors and for a single random factor in the production relationships the goal programming technique is utilized in deriving linear deterministic equivalents and their dual forms the relationship between the general stochastic dea models and the conventional dea models is also discussed

deteriorating inventory model with quantity discount pricing and partial backordering inventory models with quantity discount pricing and partial backordering although common in practice have received very little attention from researchers the objective of this study is to develop a deterministic inventory model with quantity discount pricing and partial backordering when the product in stock deteriorates with time most retailers make pricing decisions of their products at certain times of the year and these decisions affect demand in this study the demand rate is assumed to decrease as price for the product increases unlike traditional inventory models that seek to minimize cost the objective of this study is to maximize profit the findings of this study are particularly relevant to retailers of deteriorating products in a competitive environment a numerical example is given to illustrate the theory

a periodic review lot sizing problem with random yields disruptions and inventory capacity this paper examines a periodic reviewed lot sizing problem with random yields disruptions and limited inventory capacity to characterise the continuous production an additive random yield model is considered rather than a multiplicative one disruptions cause breakdowns to production inventory capacity is included since the production has to be shut down when the inventory buffer is full both disruptions and shutdowns lead to a start up cost and a stochastic lead time to recover the production these compound factors of uncertainty are encountered in practical planning decisions in process industries we review the existing random yield models which are then compared with the additive model with a linear production cost the additive model has an order up to policy to be optimal disruptions deteriorate the expected actual production quantity and the fill rate dramatically even though the optimal order up to level increases compared with the cases of no disruption considering inventory capacity makes the problem to be a non convex dynamic programming problem numerical analysis shows that the performance is dramatically deteriorated when the inventory capacity is rather tight which indicates the importance of selecting a proper inventory capacity to reduce the negative impacts and avoid redundant investment on capacity moreover the start up cost plays an important role in determining the level of inventory capacity

the determinants of efficiency the case of the spanish industry the aim of this paper is to analyse the factors explaining the technical efficiency of spanish industrial sectors during the period 1991 1994 using the survey of business strategies sbe of the ministry of industry and energy it analyses whether efficiency can be explained by factors external to the firm such as the degree of competition in the markets in which it operates characteristics of the firm size organization advantages of location participation of public capital etc as well as the effects of dynamic disturbances that may affect the degree of utilization of the productive capacity

the production inventory problem of a product with time varying demand production and deterioration rates abstract in this paper we consider the production inventory problem in which the demand production and deterioration rates of a product are assumed to vary with time shortages of a cycle are allowed to be backlogged partially two models are developed for the problem by employing different modeling approaches over an infinite planning horizon solution procedures are derived for determining the optimal replenishment policies a procedure to find the near optimal operating policy of the problem over a finite time horizon is also suggested

franchising agency problems and the cost of capital explanations for franchising are examined in the context of the us hotel industry the study is distinct from previous research on franchising because it explicitly recognizes the existence of three organizational forms whereas previous research has focused exclusively on two of these three forms the two organizational forms examined in previous work are franchising and company ownership the additional organizational form is company management investor ownership which involves management by the franchisor and ownership by outside investor groups a plausible explanation for the existence of the last organizational form is based on the availability of low cost capital from non chain sources

mobility and redistribution the ability of individuals to move freely from one jurisdiction to another is generally seen as a constraint on the amount of redistribution that each jurisdiction within a system of governments can undertake in this paper we look at this proposition by developing a positive analysis of income redistribution by local governments in a federal system we ask how much redistribution occurs when only local governments can have tax transfer instruments individuals can move freely among jurisdictions and voters in each jurisdiction are fully aware of the migration effects of redistributive policies local redistribution is shown to induce sorting of the population with the poorest households located in the communities that provide the most redistribution while the threat of out migration affects the potential for redistribution our results suggest that significant local redistribution is nonetheless feasible numerical computations indicate that the proportion of residents who are renters is a major factor affecting the local choice of level of redistribution

the carbon constrained eoq model with carbon emission dependent demand abstract currently companies are looking for solutions to reduce carbon emissions associated with their operations operational adjustments such as modifications in batch sizes or order quantities have proven to be an effective way to decrease emissions in this paper a novel model is proposed that takes into account the link between an inventory policy eoq total carbon emissions and both price and environmental dependent demands in the case of an exogenous price two optimal quantities are determined which maximize a retailer s profit and which minimize carbon emissions conditions that allow a company to maximize profit while minimizing emissions and mechanisms that allow a firm to maximize its profit and to decrease its carbon emissions are determined in the case of an endogenous price some empirical results are also discussed when a firm optimizes its profit through both its selling price and its order quantity some experiments match empirical observations on the one hand an environmental strategy is more significant for cheaper and green labeled products on the other hand a public mechanism such as a carbon tax will decrease total and marginal emissions

intertemporal optimization of the coal production capacity in china in terms of uncertain demand economy environment and energy security abstract as coal is the main energy source in china coal overcapacity and undercapacity have negative impacts on the economy environment and energy security to reveal the optimal production capacity opc an intertemporal optimization model under uncertainty is established by a combined dynamic programming influence factor scenario analysis monte carlo method dp if sa mc the opcs in 1990 2025 are solved to minimize the expected cost to the economy and environment driven by the production capacity pc under energy security in addition we define and calculate the pc deviation pcd or the deviation of the actual pc apc from the opc the results show that compared with the apc the opc has advantages of more stable development more timely adjustment and lower cost and it provides cost savings of 302 857 billion yuan in 1990 2017 according to pcd china s coal industry existed under the risk of overcapacity in 1990 1999 and 2009 2017 and undercapacity in 2000 2008 and it can experience overcapacity for most of the time without capacity reduction policies in future the optimal management of the pc should be based on the opc and pcd over the next 5 10 years rather than the current capacity utilization rate and focus on overcapacity management in the long run

how many parts to make at once reprinted from factory the magazine of management volume 10 number 2 february 1913 pp 135 136 152 interest on capital tied up in wages material and overhead sets a maximum limit to the quantity of parts which can be profitably manufactured at one time set up costs on the job fix the minimum experience has shown one manager a way to determine the economical size of lots

a dynamic joint replenishment policy with auto correlated demand we consider a joint replenishment problem where the product demands are auto correlated but independent of each other a dynamic periodic review policy is developed and its parameters are determined by a heuristic which aims at minimizing the total inventory cost which includes the holding cost the set up cost and the shortage cost the heuristic updates the review interval and the target inventory level of every product at each review point based on the current inventory status and the past demand data a simulation model is developed to compare the performance of this proposed policy with an existing periodic review policy the results show that the proposed policy has consistently achieved significant saving in all the different experimental scenarios

a century of evolution from harris s basic lot size model survey and research agenda abstract determining the economic lot size has always represented one of the most important issues in production planning this problem has long attracted the attention of researchers and several models have been developed to meet requirements at minimum cost in this paper we explore and discuss the evolution of these models during one hundred years of history starting from the basic model developed by harris in 1913 up to today following harris s work a number of researchers have devised extensions that incorporate additional considerations the evolution of eoq theory strongly reflects the development of industrial systems over the past century here we outline all the research areas faced in the past by conducting a holistic analysis of 219 selected journal papers and trying to give a comprehensive view of past work on the eoq problem finally a new research agenda is proposed and discussed

coordinated replenishments in a multi item inventory system with compound poisson demands in many practical applications or multi item inventory systems significant economies of scale can be exploited when coordinating replenishment orders for groups of items this paper considers a continuous review multi item inventory system with compound poisson demand processes excess demands are backlogged and each replenishment requires a lead time there is a major setup cost associated with any replenishment of the family of items and a minor item dependent setup cost when including a particular item in this replenishment moreover there are holding and penalty costs we present an algorithm which searches for a simple coordinated control rule minimizing the long run average cost per unit time subject to a service level constraint per item on the fraction of demand satisfied directly from on hand inventory this algorithm is based on a heuristic decomposition procedure and a specialized policy iteration method to solve the single item subproblems generated by the decomposition procedure the model applies to multi location inventory systems with similar cost structures for coordinated deliveries

the deterministic eoq and epq with partial backordering at a rate that is linearly dependent on the time to delivery abstract our original models for the eoq and epq with partial backordering assumed that the backordering rate is a constant in this paper we extend those models to allow to increase linearly as the time until delivery decreases we show how those previous models can be adapted to find the optimal decision variable values for this new assumption and develop for each model type a condition that the initial value of must meet for partial backordering to be optimal

an association clustering algorithm for can order policies in the joint replenishment problem abstract many studies have shown that the total cost of employing joint replenishment for correlated items is less than the total cost of using single item replenishment savings increase dramatically when the demand between items is closely related although the benefits of joint replenishment are significant it is difficult to define the demand correlation among items especially when the number of items increases a large number of items reduces the efficiency and advantage of the multi item inventory control to overcome this difficulty an association clustering algorithm this paper proposes to evaluate the correlated demands among items the proposed algorithm utilizes the support concept in association rule analysis to measure the similarity among items based on these measurements a clustering method is developed to group items with close demand in a hierarchal way the can order policy is then applied to the optimal clustering result as decided by the proposed performance index to illustrate the benefits of the proposed association clustering algorithm for replenishment systems a set of simulations and a sensitivity analysis is conducted the results of the experiments show that the proposed method outperforms several replenishment models

an extension of partial backordering eoq with correlated demand caused by cross selling considering multiple minor items abstract zhang et al 2011 proposed the partial backordering eoq with correlated demand caused by cross selling where a portion of the sales of a minor item is associated with those of a major item in this paper we extend their model to make it more applicable to dealing with the inventory replenishment problem for multiple associated items we formulate the model as a mixed integer nonlinear programming minlp problem and develop a global optimum search procedure with the fill rate given we further employ a one dimensional search on the fill rate to obtain the minimum total inventory cost within a predetermined precision which enjoys polynomial computational complexity

migration and optimal income taxes abstract the issue addressed in this paper is the optimal taxation of incomes earned in the home economy and of incomes earned abroad when people can migrate as a preliminary the optimal taxation of home incomes when there is migration and no taxation of foreign incomes is discussed then in a more general setting we deal with optimal taxation of different kinds of labour when another kind of labour is not taxable and show how this bears on the taxation of foreign incomes the last sections of the paper analyse a simple model in which people choose between taxable labour at home taxable labour abroad and untaxable labour a condition is found implying that the optimal tax on foreign income is higher than on the home income of a person of equal utility

effects of correlation on intermittent demand forecasting and stock control abstract this study investigates the effects of three different types of correlation on forecasting and stock control of intermittent demand items applying appropriate forecasting and stock control methods to theoretically generated compound poisson demand data we show that correlation in intermittent demand does play a role in forecast quality and stock control performance negative autocorrelation levels lead to higher service levels than positive values while cost does not significantly change our results also show that high intermittency levels intensify these changes in service level we also show that cross correlation produces results in the opposite direction of autocorrelation in size or intervals that is positive negative cross correlation leads to higher lower service levels

analysis of an inventory system with exponential partial backordering abstract in this paper we study an inventory model with partial backlogging where unsatisfied demand is partially backlogged according to an exponential function in this model the total cost is the sum of the order cost the holding cost the backorder cost which includes a fixed cost and a cost proportional to the length of time for which the backorder exists and the cost of lost sales a general approach for finding the optimal policy is developed numerical examples are used to illustrate how the approach works

some models for estimating technical and scale inefficiencies in data envelopment analysis in management contexts mathematical programming is usually used to evaluate a collection of possible alternative courses of action en route to selecting one which is best in this capacity mathematical programming serves as a planning aid to management data envelopment analysis reverses this role and employs mathematical programming to obtain ex post facto evaluations of the relative efficiency of management accomplishments however they may have been planned or executed mathematical programming is thereby extended for use as a tool for control and evaluation of past accomplishments as well as a tool to aid in planning future activities the ccr ratio form introduced by charnes cooper and rhodes as part of their data envelopment analysis approach comprehends both technical and scale inefficiencies via the optimal value of the ratio form as obtained directly from the data without requiring a priori specification of weights and or explicit delineation of assumed functional forms of relations between inputs and outputs a separation into technical and scale efficiencies is accomplished by the methods developed in this paper without altering the latter conditions for use of dea directly on observational data technical inefficiencies are identified with failures to achieve best possible output levels and or usage of excessive amounts of inputs methods for identifying and correcting the magnitudes of these inefficiencies as supplied in prior work are illustrated in the present paper a new separate variable is introduced which makes it possible to determine whether operations were conducted in regions of increasing constant or decreasing returns to scale in multiple input and multiple output situations the results are discussed and related not only to classical single output economics but also to more modern versions of economics which are identified with contestable market theories

optimizing reorder intervals for two echelon distribution systems with stochastic demand we consider a periodic review inventory system in which n non identical retailers replenish from a warehouse which further replenishes from an outside vendor with ample supply each facility faces poisson demand and replenishes according to a base stock policy in a fixed time interval fixed costs are incurred for placing an order the warehouse fills the retailers orders in the same sequence as the occurrence of the demand at the retailers the objective is to minimize the average system cost per period this paper develops an evaluation scheme and provides a method to obtain the optimal base stock levels and reorder intervals specifically with fixed reorder intervals we show that the optimal base stock levels can be obtained by generalizing the result in the literature to find the optimal reorder intervals we first allocate the total system cost to each facility and then construct a lower bound to the allocated facility cost these lower bound functions which are separable functions of reorder i

an eoq model with partial backordering and advance payments for an evaporating item abstract in the classic economic order quantity model the purchasing cost of an order is paid at the time of its receipt in some cases retailers ask purchasers to pay all or a fraction of the purchasing cost in advance and may allow them to divide the prepayment into several equal sized parts in this paper an economic order quantity model for an evaporating item with partial backordering and partial consecutive prepayments is developed with a real case study of a gasoline station real numerical examples illustrate the proposed model and the solution method

review of inventory systems with deterioration since 2001 abstract this paper presents an up to date review of the advances made in the field of inventory control of perishable items deteriorating inventory the last extensive review on this topic dates back to 2001 goyal s k and giri b c recent trends in modeling of deteriorating inventory european journal of operational research 134 1 16 since then over two hundred articles on this subject have been published in the major journals on inventory control indicating the need for a new review we use the classification of goyal and giri based on shelf life characteristics and demand characteristics contributions are highlighted by discussing main system characteristics including price discounts backordering or lost sales single or multiple items one or two warehouses single or multi echelon average cost or discounted cash flow and payment delay

income segregation and local progressive taxation empirical evidence from switzerland this study investigates spatial income segregation in fiscally decentralized urban areas the theoretical part proposes the progressivity of local income taxes as a new theoretical explanation for income segregation the empirical part studies how income tax differentials across municipalities affect the households location decisions i use data from the swiss metropolitan area of basel that contains tax information on all moving households in 1997 the location choice of the households is investigated within the framework of the random utility maximization model different econometric specifications of the error term structure such as conditional logit nested logit and multinomial probit are compared the empirical results show that rich households are significantly and substantially more likely to move to low tax municipalities than poor households this result holds after controlling for alternative explanations of segregation social interactions and distance from the central business district are established as other major factors for income segregation households in general tend to choose locations close to other households like themselves

an economic order quantity model with a known price increase and partial backordering abstract a constant unit purchase cost is one of the main assumptions in the classic economic order quantity model in practice suppliers sometimes face a known price increase in this paper we develop eoq models with a known price increase and partial backordering under two different assumptions about when the increase will occur we prove the concavity of the extra profit functions for both scenarios if a special order is placed just before the price increases a solution method is proposed and numerical examples are presented

learning by working in big cities individual earnings are higher in bigger cities we consider three reasons spatial sorting of initially more productive workers static advantages from workers current location and learning by working in bigger cities using rich administrative data for spain we find that workers in bigger cities do not have higher initial ability as reflected in fixed effects instead they obtain an immediate static premium and accumulate more valuable experience the additional value of experi ence in bigger cities persists after leaving and is stronger for those with higher initial ability this explains both the higher mean and greater dispersion of earnings in bigger cities

the 2bin system for controlling medical supplies at point of use abstract the increase in cost of supplies and services is outpacing the increase in revenues at many hospitals to address this cost increase hospitals are seeking more efficient ways to store and manage vast inventories of medical supplies a parsimonious and efficient inventory system which we call 2bin is becoming increasingly popular in north american hospitals under the 2bin system inventory is stored in two equal sized bins 2bin systems are reviewed periodically and empty bins are replenished in recent years the adoption of rfid technology for 2bin systems is allowing continuous time tracking of empty bins increasing inventory visibility in this paper we model the 2bin inventory system under periodic and continuous review for periodic review we show that the long run average cost per unit time is quasi convex enabling a simple search for the optimal review cycle for continuous review we present a semi markov decision model characterize the optimal replenishment policy and provide a solution approach to obtain the long run average cost per unit time using data obtained from hospitals currently using rfid enabled 2bin systems we estimate the economic benefits of using the best periodic review length i e parameter optimization and of using a continuous review inventory policy i e policy improvement we characterize system conditions such as the number of medical supplies used replenishment costs stock out costs etc that favor each option and provide insights to hospital management on system design considerations that favor the use of periodic or continuous review

an integrated production inventory model with imperfect production processes and weibull distribution deterioration under inflation abstract this study develops an integrated production and inventory model from the perspectives of both the manufacturer and the retailer the model assumes a varying rate of deterioration partial backordering inflation imperfect production processes and multiple deliveries the elapsed time until the production process shift is assumed to be arbitrarily distributed the discounted cash flow and classical optimization technique are used to derive the optimal solution a numerical example including the sensitivity analysis is given to validate the results of the production inventory model the integrated decision results in lower optimal joint cost compared with an independent decision by the manufacturer and the retailer

an eoq model with backorders and rejection of defective supply batches abstract we consider a single echelon inventory installation under the classical eoq with backorders paradigm to study the effects of supply quality on cost performance previous research on imperfect supply quality has focused on variants of the proportional deterministic or random yield problem where supply batches are all accepted and then used after screening any defects in this paper we study an alternative setting where entire supply batches may be defective below quality standards and therefore rejected on arrival note that such supply flow disruptions are analogous to those considered within the economic order quantity with disruptions eoqd area of research we first present an exact model for the system expected cost and show its convexity optimal cost and respective values of the decision variables i e planned order quantity and backorders are then obtained in a closed form interestingly under perfect supply quality all expressions reduce to those of classical eoq analytical and computational results reveal the serious impact of inferior supply quality on system cost as well as the sensitivity of the system parameters

incorporating quantity discounts to the eoq model with transportation costs abstract this article extends a previous economic order quantity eoq model with two modes of transportation namely truckload tl and less than truckload ltl carriers by introducing all units and incremental quantity discount structures into the analysis exact algorithms are developed for each quantity discount structure to compute optimal policies for single stage models over an infinite planning horizon

robust economic order quantity models abstract in this paper we study the classical economic order quantity eoq model under significant in particular the problem under consideration is the economic order quantity model with the input data of the demand rate the order cost and the holding cost rate being uncertain a robustness approach based on scenario characterization of the input data is adopted to describe the uncertainties the aim of the approach is to find an inventory policy that performs well under all realizable input data scenarios an efficient linear time algorithm is devised to find the robust decisions analytical results are obtained for the case where input data are defined in continuous intervals comparisons on performances between the robust decisions and the stochastic optimization decisions are conducted the results demonstrate the advantages of robustness approach

millionaire migration and taxation of the elite evidence from administrative data a growing number of u s states have adopted millionaire taxes on top income earners this increases the progressivity of state tax systems but it raises concerns about tax flight elites migrating from high tax to low tax states draining state revenues and undermining redistributive social policies are top income earners transitory millionaires searching for lower tax places to live or are they embedded elites who are reluctant to migrate away from places where they have been highly successful this question is central to understanding the social consequences of progressive taxation we draw on administrative tax returns for all million dollar income earners in the united states over 13 years tracking the states from which millionaires file their taxes our dataset contains 45 million tax records and provides census scale panel data on top income earners we advance two core analyses 1 state to state migration of millionaires over the long term and 2 a sharply focused discontinuity anal

decentralization and intra country transfers in the great recession the case of the european union empirical evidence is found supporting the assignment of the redistribution function to the central government viewing the great recession or recessions in general as a shock it is found that a

note periodic review s s policies for joint replenishment inventory systems this note deals with the joint replenishment problem with stochastic demands a new class of policies called ps s policy is proposed for this problem the proposed policy uses independent periodic review s s policies for each item results on test problems show that the proposed policy is superior to other classes of policies for the problem

a stochastic dea study of hotel efficiency this current study is the first to apply stochastic data envelopment analysis sdea approach to assess the efficiency of hotels the determinants of hotel efficiency were also investigated employing the tobit regression model approach the sdea results show that the sdea efficiency measures are higher than the deterministic ones and the greater the stochastic variability of outputs the closer the envelope moves successively to any given observation and the efficiency score approaches one the optimal solution to sdea involves the presence of some buffer slack of all outputs in applications involving practice production situation such buffer slack can be interpreted as the firms need to hold inventory excess capacity and organizational slack against stochastic uncertainty of market environment our results also indicate that resort hotels achieve better efficiency than those in metropolitan areas and operating as part of a chain is not the main determinant of the efficiency of international touri

can state taxes redistribute income abstract the evidence presented in this paper supports the basic theoretical presumption that state and local governments cannot redistribute income since individuals can avoid unfavorable taxes by migrating to jurisdictions that offer more favorable tax conditions a relatively unfavorable tax will cause gross wages to adjust until the resulting net wage is equal to that available elsewhere the current empirical findings go beyond confirming this long run tendency and show that gross wages adjust rapidly to the changing tax environment thus states cannot redistribute income for a period of even a few years the adjustment of gross wages to tax rates implies that a more progressive tax system raises the cost to firms of hiring more highly skilled employees and reduces the cost of lower skilled labor a more progressive tax thus induces firms to hire fewer high skilled employees and to hire more low skilled employees since state taxes cannot alter net wages there can be no trade off at the state level between distribution goals and economic efficiency shifts in state tax progressivity by altering the structure of employment in the state and distorting the mix of labor inputs used by firms in the state create deadweight efficiency losses without achieving any net redistribution

inventory pooling under heavy tailed demand risk pooling has been studied extensively in the operations management literature as the basic driver behind strategies such as transshipment manufacturing flexibility component commonality and drop shipping this paper explores the benefit of risk pooling in the context of inventory management using the canonical model first studied in eppen eppen gd 1979 effects of centralization on expected costs in a multi location newsboy problem management sci 25 5 498 501 specifically we consider a single period multilocation newsvendor model where n different locations face independent and identically distributed demands and linear holding and backorder costs we show that eppen s celebrated result i e that the expected cost savings from centralized inventory management scale with the square root of the number of locations depends critically on the light tailed nature of the demand uncertainty in particular we establish that the benefit from pooling relative to the decentralized case in term

optimal lot size for a production inventory system with partial backlogging and mixture of dispatching policies abstract in this paper we study a production inventory model for a single product where shortages are partially backlogged both the backorder cost and the lost sale cost depend on a fixed cost and a cost proportional to the shortage time we assume a mixture between the dispatching policies known as lifo last in first out and fifo first in first out in the discipline of service to fill the backlogged demand by using a sequential optimization procedure we determine in a closed form the optimal production policies and the optimal profit for all the possible cases obtained from the developed model we show how this new model generalizes several inventory models proposed in the literature finally numerical results are presented to analyze the sensitivity of the optimal policies with respect to changes in some parameters of the system

ghost citizens using notches to identify manipulation of population based grants this paper analyzes how local governments misreport population figures to obtain higher per capita grant allocations in 1998 the allocation of a formula based grant in spain switched from using the centrally administered census to local population registers administered by municipalities the value of this per capita grant changes at fixed population thresholds for the entire local population we exploit these notches to analyze the size distribution of municipalities to detect deliberate manipulation of the grant assignment variable this allows us to causally identify the effect of grant generosity on population over reporting we document an excess mass of municipalities to the right of the notch threshold and a density hole to the left of it local registers included a proportion of ghost citizens that is people who presented no trace of actually residing in the municipalities which benefit the most from inflating population figures to pass the relevant threshold we document that manipulation rather than real population responses is the mechanism at work the main channel behind manipulation is the incorrect treatment of foreign residents to inflate total local population

taxation and the international mobility of inventors we study the eect of top tax rates on superstar inventors international mobility since 1977 using panel data on inventors from the u s and european patent oces we exploit the dierential impact of changes in top tax rates on inventors of dierent qualities superstar inventors location choices are signicantly aected by top tax rates in our preferred specication the elasticity to the net of tax rate of the number of domestic superstar inventors is around 0 03 while that of foreign superstar inventors is around 1 these elasticities are larger for inventors in multinational companies an inventor is less sensitive to taxes in a country if his company performs a higher share of its research there

tax induced mobility evidence from a foreigners tax scheme in switzerland abstract we study location choice and residential mobility responses to local income taxes exploiting a special tax regime which applies to foreign employees residing in switzerland the institutional setting used generates a deterministic duration threshold at 5 years of stay in the country at which the local tax rates an individual faces simultaneously change in all municipalities we exploit this exogenous variation by applying a fuzzy regression discontinuity design to merged survey and administrative individual level data a dynamic location choice model allows us to derive testable hypotheses of individuals location choices and mobility decisions our estimated treatment effects provide causal evidence for tax induced residential choices and tax induced intra national mobility

a multi item periodic replenishment policy with full truckloads abstract in this paper we consider a stochastic multi item inventory problem a retailer sells multiple products with stochastic demand and is replenished periodically from a supplier with ample stock at each order instant it is decided which product to order and how much to order for the delivery of the products trucks with a finite capacity are available the dispatched trucks arrive at the retailer after a constant leadtime and with each truck fixed shipping costs are charged independent on the number of units shipped additionally linear holding and backorder costs at the end of a review period are considered since fixed transportation costs are high coordination of orders and full truckload shipments can benefit from economies of scale we propose a dynamic order up to policy where initial ordersizes can be reduced as well as enlarged to create full truckloads we show how to compute the policy parameters and in a detailed numerical study we compare our policy with a lower bound and an uncoordinated periodic replenishment policy an excellent cost performance of the proposed policy can be observed when average time between two shipments is not too large and fixed shipping costs are high

an inventory control model with stochastic review interval and special sale offer abstract periodic review inventory models are widely used in practice especially for inventory systems in which many different items are purchased from the same supplier however most of periodic review models have assumed a fixed length of the review periods in practice it is possible that the review periods are of a random stochastic length this paper presents an inventory control model in the case of random review intervals and special sale offer from the supplier the replenishment interval is assumed to obey from two different distributions namely exponential and uniform distributions also shortages are allowed in the term of partial backordering for this model its convexity condition is discussed and closed form solutions are proposed

the multi item newsvendor model with cross selling and the solution when demand is jointly normally distributed abstract products are often demanded in tandem because of the cross selling effect the demand for an item can increase if sales of its cross selling associated items are achieved or decrease when the associated items are out of stock resulting in lost sales therefore a joint inventory policy should be pursued in a cross selling system this paper introduces customer driven cross selling into centralized and competitive newsvendor nv models by representing an item s effective demand as a function of other items order quantities we derive first order optimality conditions for the centralized model in addition to pure strategy nash equilibrium conditions and uniqueness conditions of the equilibria for the competitive model we further develop gradient based gb and iteration based ib algorithms to solve the centralized and competitive models respectively a computational study verifies the effectiveness of the proposed algorithms the computational results show that a larger cross selling effect leads to a larger order quantity in a centralized nv model but a smaller order quantity in a competitive nv model and a larger positive correlation between items demands leads to higher profits with smaller order quantities in both models moreover nvs will order more items if the demand variance is greater however resulting in lower profits in a competitive situation one will prefer smaller order quantities than in a centralized decision situation

periodic versus can order policies for coordinated multi item inventory systems the coordinated multi item inventory problem refers to the problem of managing inventories where there is a joint fixed cost for replenishing plus an item by item fixed cost for each item included in the replenishment order given that the optimal solution is likely to be too complex attention has focused on fixed heuristics and in particular can order or s c s policies this paper makes two contributions first a new lower bound on the cost of the optimal policy is proposed in order that the performance of heuristics may be measured second motivated by the lower bound a simple periodic policy is proposed and shown to be an improvement over can order policies for many data sets

an eoq model for perishable product with special sale and shortage abstract in this paper for the first time an inventory control model to determine the optimal order and shortage quantities of a perishable item when the supplier offers a special sale is developed four possible cases based on decision that the purchaser might make about the first replenishment policy using regular economic order quantity model at reduced price or regular price if he did not take the special order and coincidence of special period length with positive or negative inventory level of the last regular period length during the special period are investigated moreover several useful theorems are suggested through which one can find closed form solution directly when there are integer operators involved in an objective function at the end in order to illustrate the proposed theorems and the solution method some numerical examples are solved and a sensitivity analysis is reported too

relocation of the rich migration in response to top tax rate changes from spanish reforms a spanish reform granted regions the authority to set income tax rates resulting in substantial tax differentials using administrative data we find that conditional on moving taxes have a signi

a survey of deterministic models for the eoq and epq with partial backordering models for the basic deterministic eoq or epq problem with partial backordering or backlogging make all the assumptions of the classic eoq or epq model with full backordering except that only a fraction of the demand during the stockout period is backordered in this survey we review deterministic models that have been developed over the past 40 years that address the basic models and extensions that add other considerations such as pricing perishable or deteriorating inventory time varying or stock dependent demand quantity discounts or multiple warehouses

cooperation and game theoretic cost allocation in stochastic inventory models with continuous review we study cooperation strategies for companies that continuously review their inventories and face poisson demand our main goal is to analyze stable cost allocations of the joint costs these are such that any group of companies has lower costs than the individual companies if such allocations exist they provide an incentive for the companies to cooperate we consider two natural cooperation strategies i the companies jointly place an order for replenishment if their joint inventory position reaches a certain reorder level and ii the companies reorder as soon as one of them reaches its reorder level numerical experiments for two companies show that the second strategy has the lowest joint costs under this strategy the game theoretical shapley value and the distribution rule a cost allocation in which the companies share the procurement cost and each pays its own holding cost are shown to be stable cost allocations these results also hold for situations with three companies

migration and wage effects of taxing top earners evidence from the foreigners tax scheme in denmark this paper analyzes the eects of income taxation on the international migration and earnings of top earners using a danish preferential foreigner tax scheme and populationwide danish administrative data this scheme introduced in 1991 allows new immigrants with high earnings to be taxed at a preferential at rate for a duration of three years we obtain two main results first the scheme has doubled the number of highly paid foreigners in denmark relative to slightly less paid and therefore ineligible foreigners this translates into a very large elasticity of migration with respect to 1 minus the average tax rate on foreigners between 1 5 and 2 second we nd compelling evidence of a negative eect of the scheme induced reduction in the average tax rate on pre tax earnings of foreign migrants at the individual level this nding can be rationalized by a matching frictions

an economic order quantity model with partial backordering and a special sale price abstract a constant unit purchase cost is one of the main assumptions in the classic economic order quantity model in practice suppliers sometimes offer special sale prices to stimulate sales or decrease inventories of certain items in this paper we develop an eoq model with a special sale price and partial backordering we prove the convexity of the cost reduction function if a special order is placed at the special sale price a solution method is proposed and numerical examples are presented

commuting and taxes theory empirics and welfare implications we examine the effect of interstate differences in income taxes on commuting times our theoretical model introduces a border into a model of an urban area and shows that differences in average tax rates distort commuting patterns but the sign of the effect depends on whether taxes are residence based or employment based empirically tax differentials have a large effect on commuting times for affluent households and mobile households we show that commuting times are a sufficient statistic to measure the spatial welfare effects of tax policy the model and empirical design can be used by economists to study other policy differences this article is protected by copyright all rights reserved

generalized eoq formula using a new parameter coefficient of backorder attractiveness abstract this paper introduces and examines a generalized eoq formula based on the model with linear and fixed backordering costs the new square root formula is a combination of two well known classical models the basic eoq model without stockouts and the eoq model with backorders and linear backordering costs helping to combine the two is a new parameter a fractional coefficient capturing the attractiveness of backorders the coefficient is explained and discussed the paper concludes with a brief discussion of generalizations in eoq models including epq

an economic efficiency study on different regions of ghana via slack based data envelopment analysis and regression analysis in this article we evaluate the efficiency of the 10 different regions of ghana using slack based data envelopment analysis a nonparametric linear programming technique furthermore we analyse the variable effects on the efficiency of the regions by various regression models using bootstrap sampling technique the data come from the 1991 1992 and 1998 1999 ghana living standards survey our results show that wealth is not strongly related to efficiency for example the study indicates that the brong ahafo region is the most efficient region but not the most wealthy in ghana generally urban regions are not found to be among the most efficient regions due to the high expenditures the regression analysis shows that female heads of household have an overall positive effect on efficiency in addition any form of education obtained is also found to have a significant positive effect on efficiency

analytical and managerial implications of integrating product substitutability in the joint pricing and procurement problem abstract this paper studies the analytical and managerial implications of product substitutability on the joint pricing and procurement decisions we consider a single period model with two products an existing product and an improved new product that can substitute the demand for the existing product in case of a shortage demand for each product follows a general distribution with an expected value that is a linear function of the price of the new product while the price of the existing product is determined by the market it is necessary to determine the new product s price and the procurement quantities of both products so as to maximize the profits we analytically show that the expected profit function is unimodal and in the existence of substitution the expected total profit is higher the optimal price and the safety stock of the new product are higher and the optimal safety stock of the existing product is less using these properties an efficient algorithm is developed we also provide a numerical analysis to demonstrate that considering substitution in advance could increase the profitability by 58 and the new product price by 5 while decreasing the total procurement quantity by 15

coordinated replenishments in inventory systems with correlated demands abstract demand correlation among different inventory items is common in real life multi item inventory systems however this phenomenon has not received sufficient attention in the existing inventory literature in this paper we construct a markovian model for a two item inventory system with correlated demands and coordinated replenishments we obtain an expression for the long run total cost per unit of time under the can order replenishment policy for the scenario with independent replenishments the explicit formula for the long run total cost per time unit can be derived which leads to analytical solutions for the optimal policies we then present numerical examples of the optimal can order policies and discuss some managerial insights regarding demand correlation and replenishment coordination our numerical results also suggest a possible heuristic method for obtaining can order replenishment policies for multi item systems

deterministic eoq with partial backordering and correlated demand caused by cross selling abstract there has been much work regarding the deterministic eoq with partial backordering the majority of these studies assume no correlation in sales so independent demands across items is applied in the models however it is generally recognized that cross selling effects between items often appear in real contexts thus incorporating such effects in the inventory model in the form of correlated demands makes it of more practical relevance in this paper the authors address a two item inventory system where the demand of a minor item is correlated to that of a major item because of cross selling we firstly present a two item eoq model with identical order cycles where the unmet demand of the major item can be partially backordered with lost sales whereas the demand of the minor item must be met without stockouts this model is further extended to fit a more practical case where the order cycle of the major item is an integer multiple of that of the minor item the optimal solutions of the two models as well as the inventory decision procedures are also developed comparative analysis on these two eoq models has been drawn in the computational study which presents some insights into the parameter effect on the optimal inventory policy

the deterministic eoq with partial backordering a new approach previous authors have shown that if demand that cannot be filled from stock is partially backordered then using the full backordering model or assuming that all stockouts will result in lost sales can lead to substantial increases in cost relative to using a model that specifically recognizes the percentage of the stockouts that will be backordered the models that these authors developed resulted in procedures or equations that are relatively difficult to use in this paper we take a different approach to modeling the deterministic eoq with partial backordering that results in equations that are more like the comparable equations for the basic eoq and its full backordering extension

adapting the newsvendor model for infinite horizon inventory systems abstract we address inventory decisions in the context of the reorder point order quantity policy in infinite horizon stochastic lead time demand inventory systems in which the parameters may be non stationary we develop a heuristic policy based on the simple economic order quantity eoq model and the one period newsvendor model using illustrative numerical examples we demonstrate that our simple and easy to understand heuristic policy performs nearly as well as the optimal policy derived from complicated mathematical procedures our heuristic policy is simple easy to implement and flexible in that it can be easily adapted to situations when the parameters of the inventory system may change analytical modeling under non stationary parameters would be extremely complex and the derivation of closed form optimal policies is mathematically intractable in most cases in such cases practitioners will find our heuristic policy an attractive option

taxation and migration evidence and policy implications in this article we review a growing empirical literature on the effects of personal taxation on the geographic mobility of people and discuss its policy implications we start by laying out the empirical challenges that prevented progress in this area and then discuss how recent work has made use of new data sources and quasi experimental approaches to credibly estimate migration responses this body of work has shown that certain segments of the labor market especially high income workers and professions with little location specific human capital may be quite responsive to taxes in their location decisions when considering the implications for tax policy design we distinguish between uncoordinated and coordinated tax policy we highlight the importance of recognizing that mobility elasticities are not exogenous structural parameters they can vary greatly depending on the population being analyzed the size of the tax jurisdiction the extent of tax policy coordination and a range of non tax policies while migration responses add to the efficiency costs of redistributing income we caution against over using the recent evidence of sizeable mobility responses to taxes as an argument for less redistribution in a globalized world

a heuristic joint replinishment policy for the case of heterogeneity among items abstract the q s s policy is considered among the best for solving the well known stochastic joint replenishment problem however it has some shortcomings if much heterogeneity exists among the items consequently a new heuristic control policy is constructed the cornerstone is a policy iteration improvement step assuming a single possibility for making a joint order and thus to deviate from the rule that the items are governed by independent re order and order up to s s policies but this policy iteration improvement step is done repeatedly at each demand epoch it is only required the development of one dimensional value functions of state variables in order to accomplish the policy iteration improvement step knowledge about good order up to values is important furthermore a relaxation parameter is introduced such that one can make it easier or more difficult to issue a joint order when following the policy iteration improvement step finally in case a joint order is made a vector of can order points is used to include additional items the policy is denoted a c s policy numerical results shows that the new policy performs significantly better than the q s s policy for cases with heterogeneity among items furthermore from a given optimal can order policy one can construct a better c s policy

the elasticity of taxable income with respect to marginal tax rates a critical review this paper critically surveys the large and growing literature estimating the elasticity of taxable income with respect to marginal tax rates using tax return data first we provide a theoretical framework showing under what assumptions this elasticity can be used as a sufficient statistic for efficiency and optimal tax analysis we discuss what other parameters should be estimated when the elasticity is not a sufficient statistic second we discuss conceptually the key issues that arise in the empirical estimation of the elasticity of taxable income using the example of the 1993 top individual income tax rate increase in the united states to illustrate those issues third we provide a critical discussion of selected empirical analyses of the elasticity of taxable income in light of the theoretical and empirical framework we laid out finally we discuss avenues for future research jel h24 h31 j22

a note on how to compute economic order quantities without derivatives by cost comparisons abstract a different approach to obtain the economic order quantity and several extensions without taking derivatives is presented in contrast to previous contributions to this discussion cost comparisons in a finite horizon and analyzing the limiting behavior are used rather than algebraic manipulations of the average cost function and comparison of coefficients

coordinated replenishment strategies in inventory distribution systems in this paper we study the impact of coordinated replenishment and shipment in inventory distribution systems we analyze a system with multiple retailers and one outside supplier random demand occurs at each retailer and the supplier replenishes all the retailers in traditional inventory models each retailer orders directly from the supplier whenever the need arises we present a new centralized ordering policy that orders for all retailers simultaneously the new policy is equivalent to the introduction of a warehouse with no inventory that is in charge of the ordering allocation and distribution of inventory to the retailers under such a policy orders for some retailers may be postponed or expedited so that they can be batched with other retailers orders which results in savings in ordering and shipping costs in addition to the policy we propose for supplying inventory to the retailers we also consider three other policies that are based on these well known policies in the literature a can order policy b echelon inventory policy and c fixed replenishment interval policy furthermore we create a framework for simultaneously making inventory and transportation decisions by incorporating the transportation costs or limited truck capacities we numerically compare the performance of our proposed policy with these policies to identify the settings in which each policy would perform well

the cycle of earnings inequality evidence from spanish social security data we use detailed information on labor earnings and employment from social security records to document the evolution of male daily earnings inequality in spain from 1988 to 2010 we find that inequality was strongly countercyclical it increased around the 1993 recession experienced a substantial decrease during the 1997 2007 expansion and then a sharp increase during the recent recession this evolution went in parallel with the cyclicality of employment in the lower middle part of the wage distribution our findings highlight the importance of the housing boom and bust in this evolution suggesting that demand shocks in the construction sector had large effects on aggregate labor market outcomes

planning for shortages net present value analysis for a deteriorating item with partial backlogging abstract this paper develops inventory models to help answer strategic questions concerning whether planning for shortages offers financial benefits a production inventory system producing a deteriorating product in batches at a finite production rate with partial backordering is considered customers pay a deposit when placing a backorder backordered items receive a discount on the sales price as lost sales may lead to customers not returning the demand rate may depend on the fraction of lost sales we develop a cash flow based profit maximising net present value npv model without the inventory cost parameters commonly used in this context unit holding cost unit backorder cost unit deterioration cost and unit lost sales cost the model finds the optimal inventory policy just like npv models that discount the traditional parameters but has the advantage of not needing to estimate the value of the traditional parameters it is shown that in models based on discounting the traditional parameters the parameters are not exogenously determinable but are non trivial functions of non financial endogenous system parameters such as the production rate annual demand rate and backorder rate extensive numerical experiments illustrate how cash flow npv models provide insights into the value of planning for shortages and strategic choices about the design of the production inventory system it also provides insight into the classical problem of how to interpret unit backorder cost and unit lost sales cost the study indicates that these insights cannot be reliably obtained from npv models based on discounting unit backorder costs and unit lost sales costs

tax avoidance and the deadweight loss of the income tax traditional analyses of the income tax greatly underestimate deadweight losses by ignoring its effect on forms of compensation and patterns of consumption the full deadweight loss is easily calculated using the compensated elasticity of taxable income to changes in tax rates because leisure excludable income and deductible consumption are a hicksian composite good microeconomic estimates imply a deadweight loss of as much as 30 of revenue or more than ten times harberger s classic 1964 estimate the relative deadweight loss caused by increasing existing tax rates is substantially greater and may exceed 2 per 1 of revenue

optimal control policy for stochastic inventory systems with markovian discount opportunities in this paper we study a single item continuous review inventory system with poisson demand in addition to the standard cost structure of a fixed setup cost and a quasiconvex expected inventory holding and shortage cost special opportunities for placing orders at a discounted setup cost occur according to a poisson process that is independent of the demand process this model has been studied as a subproblem of multi item location inventory systems where there are economies of scale in joint replenishment for the single item model the literature proposes the s c s policy under which an order is placed to increase the inventory position to s either when the inventory position drops to s or when the inventory position is at or below c and a discount opportunity occurs we prove that the s c s policy is optimal for the model develop an efficient algorithm for computing optimal control parameters s c s and carry out a parametric analysis showing the effects of changes in problem paramete

devolving fiscal policy migration and tax yields abstractdevolution of taxes to sub national jurisdictions could reduce expected tax revenue if some households move to lower tax regimes constraining devolved government policy this paper develop

calculating can order policies for the joint replenishment problem by the compensation approach abstract in this paper we consider the stochastic joint replenishment problem we coordinate the replenishment of an inventory with several items where the fixed cost of a replenishment consists of a major order cost for each order and a minor order cost for each item participating in the order the literature has focused on two kinds of policies can order policies and periodic replenishment policies generally speaking the can order policy performs better when the major ordering cost is relatively low and the periodic replenishment policies better when the major ordering cost is relatively high we present a new method for calculating can order policies which dominates existing methods on examples where the can order policy performs better than the periodic replenishment policies the method is based on a compensation approach where an item placing an order receives a compensation from other items benefitting from the order opportunity

the stochastic economic lot scheduling problem cyclical base stock policies with idle times in this paper we discuss stochastic economic lot scheduling problems elsp i e settings where several items need to be produced in a common facility with limited capacity under significant uncertainty regarding demands production times setup times or combinations thereof we propose a class of production inventory strategies for stochastic elsps and describe how a strategy which minimizes holding backlogging and setup costs within this class can be effectively determined and evaluated the proposed class of strategies is simple but rich and effective when the facility is assigned to a given item production continues until either a specific target inventory level is reached or a specific production batch has been completed the different items are produced in a given sequence or rotation cycle possibly with idle times inserted between the completion of an item s production batch and the setup for the next item an optimal strategy within the class can be determined and all relevant performance measures can be evaluated in just a few cpu seconds using a 486 based pc we also derive a number of easily computable lower bounds for the optimal cost value and establish a comparison with deterministic elsps

strategic planning of optimal resource allocation in response to global financial crisis a study of international tourist hotels this study is principally designed to examine the changes in the efficiency effective resource allocation and future operation strategies of taiwan s international tourist hotel in global economic downturn at first we set up critical input and output factors and construct an assessment model using data envelopment analysis dea for analysis of relative efficiency further we apply an allocative efficiency model for additional considerations of each input cost and analyse proper and effective resource allocation finally there are significant changes in overall efficiency of international tourist hotels under global financial crisis we can also reach an effective allocation of the overall resources in such cases lowering cost has become a key issue for sustainable operation of international tourist hotel finally the greatest contribution of this study is to further classify the competitiveness and optimal cost allocation of taiwan s international tourist hotels into seven categories based on the

optimal pricing and lot sizing under conditions of perishability and partial backordering we formulate a generalized model of dynamic pricing and lot sizing by a reseller who sells a perishable good we assume that when it is economic to backlog demand the reseller can plan for periods of shortage during which demand can be partially backordered when the good is highly perishable the reseller may need to backlog demand in order to market the good at a reasonable price we present a simple solution procedure for solving the optimization problem the procedure entails solving first a single nonlinear equation and then if required two nonlinear equations

a coordinated multi item inventory system for perishables with random lifetime abstract this paper considers the continuous review can order s c s policy for coordinating the replenishment of multiple perishable items with random lifetimes for zero lead time we model this inventory system as a markov process an iterative procedure is proposed to solve the joint replenishment problem for perishable items under positive lead time we investigate the impact of perishability and cost parameters on the performance of the can order policy and compare it to the optimal periodic review s s policy