bluuebunny/crossref_metadata_2025_split huggingface dataset:
USING CONJOINT ANALYSIS TO PREDICT TRIAL AND REPEAT‐PURCHASE PATTERNS OF NEW FREQUENTLY PURCHASED PRODUCTS*
Authors: Zufryden Fred S. 
Published: June 2007

ABSTRACTA new approach is proposed to evaluate new‐product opportunities. This approach uses the distribution of brand‐purchase probability of the new product over a population of potential customers and the outputs from conjoint analysis. The heterogeneous distribution of brand‐purchase probability is expressed by a beta binomial brand‐choice model compounded with a negative binomial product‐class purchase‐incidence model. The resulting model provides a way to predict trial and repeat‐purchase patterns of new‐product concepts. The paper discusses the development of the model. It also discusses issues of measurement, estimation, testing, and implementation of the proposed approach based on actual empirical data.
INFLATION, MAINTENANCE OF CAPITAL, AND THE IRR MODEL: AN APPRAISAL AND ALTERNATIVE
Authors: Hartley Ronald V. 
Published: June 2007

ABSTRACTCapital budgeting under inflationary conditions presents some additional implementation problems when computing the internal rate of return. This paper reviews an earlier proposal made in this journal and concludes that it has some technical deficiencies. Further, it does not have the flexibility needed to be congruent with a wide variety of concepts of capital maintenance and asset evaluation. An algorithm is developed that will permit the user to make a variety of assumptions and then solve for the IRR that is consistent with those assumptions.
ORTHOGONAL INFORMATION STRUCTURES—A MODEL TO EVALUATE THE INFORMATION PROVIDED BY A SECOND OPINION
Authors: Ahituv Niv , Ronen Boaz 
Published: June 2007

ABSTRACTThe paper discusses the value of information when a number of independent sources provide information related to a common set of states of nature. The starting point is the information economic model of information structures. The model is augmented to represent independence of informational sources by means of orthogonality of the information structures.A new mathematical operator, orthogonal product, is defined and its properties are probed. It is shown that this operator maintains some mathematical properties such as closure, association, unity element, null element, and so forth. It is demonstrated how the orthogonal product represents the notion of multisource information.The paper proves that an orthogonal product is generally more informative than its multipliers, namely, if cost is not considered a constraining factor, then there is a nonnegative value to obtaining a second opinion. An appendix to the paper expands this result to a case of partially dependent signals. The paper concludes with a numerical example and a discussion of the model's applicability for practical problems such as cost estimates.
REPETITIVE LOTS: FLOW‐TIME REDUCTIONS THROUGH SEQUENCING AND DYNAMIC BATCH SIZING
Authors: Jacobs F. Robert , Bragg Daniel J. 
Published: June 2007

ABSTRACTThis paper presents a new integrative concept for job sequencing, dispatching, and lot sizing. The interrelation between these procedures and their impact on flow‐time performance is examined in a capacitated production environment. Generally, lot‐sizing decisions are made without regard to shop conditions and do not consider their impact on job sequencing procedures. The repetitive lots (RL) concept (developed and tested in this paper) attempts to integrate these decision processes.RL uses a number of features which have not been considered jointly in either the lot‐sizing or job‐dispatching/sequencing literature. These include operation batch sizes which vary by operation, transfer of work within the shop in quantities less than operation batch size, and the use of overlapped operations. A simulation model is used to analyze flow‐time characteristics in a hypothetical production system. Traditional measures of flow‐time performance are compared to a set of nontraditional measures which capture the interaction between lot sizing and the sequencing procedure used.
FOUR APPROACHES TO THE CLASSIFICATION PROBLEM IN DISCRIMINANT ANALYSIS: AN EXPERIMENTAL STUDY*
Authors: Joachimsthaler Erich A. , Stam Antonie 
Published: June 2007

ABSTRACTFour discriminant models were compared in a simulation study: Fisher's linear discriminant function [14], Smith's quadratic discriminant function [34], the logistic discriminant model, and a model based on linear programming [17]. The study was conducted to estimate expected rates of misclassification for these four procedures when observations were sampled from a variety of normal and nonnormal distributions. In contrast to previous research, data were taken from four types of Kurtotic population distributions. The results indicate the four discriminant procedures are robust toward data from many types of distributions. The misclassification rates for both the logistic discriminant model and the formulation based on linear programming consistently decreased as the kurtosis in the data increased. The decreases, however, were of small magnitude. None of these procedures yielded statistically significant lower rates of misclassification under nonnormality. The quadratic discriminant function produced significantly lower error rates when the variances across groups were heterogeneous.
MATCHED PAIRS DISCRIMINATION: METHODOLOGY AND AN INVESTIGATION OF CORPORATE ACCOUNTING POLICIES
Authors: III Hunt Herbert G. , Ord J. Keith 
Published: June 2007

ABSTRACTThe matched‐pairs methodology is becoming increasingly popular as a means of controlling extraneous factors in business research. This paper develops discriminant procedures for matched data and examines the properties of these methods. Data from a recent study by Hunt [14] on the determinants of inventory method choice are used to contrast the performance of the different methods. While all of the methods yield the same set of discriminating variables, those procedures that allow for the dependence among observations within a pair provide greater classificatory power than traditional multivariate techniques.
MAXIMIZING THE PROBABILITY OF ACHIEVING A TARGET PROFIT IN A TWO‐PRODUCT NEWSBOY PROBLEM*
Authors: Lau Amy Hing‐Ling , Lau Hon‐Shiang 
Published: June 2007

ABSTRACTThis paper explores the two‐product newsboy problem. Solution procedures are developed to find the optimal production quantities of each product that will maximize the probability of achieving a profit target. The problem is shown to be surprisingly challenging, and numerical results obtained for only the more restrictive cases exhibit interesting behavior with important decision implications. For example, the results suggest that, if a firm has two single‐product divisions and each will receive a bonus for achieving a profit target, it is beneficial for the two divisions to cooperate if the targets are lax and the profit margins are high, but not if the targets are tight and the profit margins low. Also, between two products having different profit margins, one should produce more of the product with the lower profit margin if the target is sufficiently lax. This exploration motivates further efforts in solving the two‐product problem for the more general cases and also in extending the problem to three or more products.
JOINT PRODUCT COST ALLOCATION IN THE CONTEXT OF COST‐PLUS PRICING DETERMINATIONS WITH NON‐UNIFORM MARKUPS
Authors: Schneider Arnold , Jeroslow Robert G. 
Published: June 2007

ABSTRACTCompanies that use cost‐based pricing sometimes manufacture products that involve joint cost allocation. A problem with this is that, while product prices are a function of the full cost, joint cost allocation methods using net realizable values depend on the product prices. This paper demonstrates that when all costs and production quantities are known or can be budgeted, it is possible to simultaneously determine unique product prices (having non‐uniform markup rates) and cost allocations using the net realizable value method.
A Multivariate Methodology for Simultaneously Capturing and Clustering Judgment Policies
Authors: Glorfeld Louis W. , Fowler George C. 
Published: June 2007

ABSTRACTThis paper presents a new linear model methodology for clustering judges with homogeneous decision policies and differentiating dimensions which distinguish judgment policies. This linear policy capturing model based on canonical correlation analysis is compared to the standard model based on regression analysis and hierarchical agglomerative clustering. Potential advantages of the new methodology include simultaneous instead of sequential consideration of information in the dependent and independent variable sets, decreased interpretational difficulty in the presence of multicollinearity and/or suppressor/moderator variables, and a more clearly defined solution structure allowing assessment of a judge's relationship to all of the derived, ideal policy types. An application to capturing policies of information systems recruiters responsible for hiring entry‐level personnel is used to compare and contrast the two techniques.
The Effects of an Interactive Graphics‐Based DSS to Support Problem Structuring
Authors: Pracht William E. , Courtney James F. 
Published: June 2007

ABSTRACTGraphical, interactive, problem‐structuring tools were devised and incorporated into a DSS. These tools were based on concepts of structural modeling and motivated by propositions and findings in memory theory and imagery theory. A laboratory study was then conducted to investigate the relationship between decision‐maker characteristics and use of the problem‐structuring aid. The experiment was designed to determine whether use of the tool to assist in problem formulation led to a better understanding of problem structure.A moderately complex management simulation and its companion DSS were used in the experiment. Eighty‐four subjects were divided into two groups: a control group that did not use the Graphical Interactive Structural Modeling Option (GISMO), and an experimental group that did. The results showed a statistically significant effect between cognitive ability and use of GISMO. Field independents (i.e., high cognitive ability) effectively combined GISMO use with image processing skills to understand the structure of the problem domain, but field dependents (i.e., low cognitive ability) were ineffective. There was very little difference in problem understanding in field dependents who used the tool and those who did not.
Analysis and Approximation of a JIT Production Line*
Authors: Jordan Scott 
Published: June 2007

ABSTRACTProduction lines are often modeled as queueing networks with finite inventory between each stage. Little is known, however, about the average production rate and inventory levels when the service distribution at each stage is normal. This paper approximates the service distribution using iterative methods rather than simulation. The results show that iterative methods are useful when the problem is small and that approximation of the service distribution, by another distribution with the same mean and variance, is valid for steady‐state results such as average production rate or average inventory level.
Optimal Portfolio Selection and Cutoff Rates of Security Performance: A Multi‐Index Case*
Authors: Kwan Clarence C. Y. 
Published: June 2007

ABSTRACTThe present study performs portfolio analysis using a multi‐index model in the diagonal form. In a mean‐variance framework, an alternative solution to a portfolio optimization problem is derived, providing analytical and computational improvements. This leads to a proof of a crucial functional property of cutoff rates of security performance in the solution, thus providing formal justification for a nonranking procedure of optimal portfolio selection. The robustness of the above functional property, and hence the nonranking procedure, is demonstrated numerically when the underlying normality assumption of security returns is replaced by a more general assumption of stable Paretian distributions.
Least Absolute Value Regression: Necessary Sample Sizes to Use Normal Theory Inference Procedures*
Authors: Dielman Terry , Pfaffenberger Roger 
Published: June 2007

ABSTRACTRecently developed large sample inference procedures for least absolute value (LAV) regression are examined via Monte Carlo simulation to determine when sample sizes are large enough for the procedures to work effectively. A variety of different experimental settings were created by varying the disturbance distribution, the number of explanatory variables and the way the explanatory variables were generated. Necessary sample sizes range from as small as 20 when disturbances are normal to as large as 200 in extreme outlier‐producing distributions.
Open Order Rescheduling in Job Shops with Demand Uncertainty: A Simulation Study
Authors: Christy David P. , Kanet John J. 
Published: June 2007

ABSTRACTThis paper addresses the problem of open order rescheduling in a job shop. Results are reported of experiments conducted in a simulation model of an 8‐machine job shop. Four different order updating policies are examined. The due‐date process is modeled to include several realistic features about the pattern of due‐date variability. These features are parameterized and tested at several levels. Tardiness results indicate that open order rescheduling is beneficial only when allowances are loosely set. The results indicate that inventory performance is improved by order rescheduling, particularly in cases when due dates are revised to earlier times than originally forecast.
Transportation Approach to Locating Plants in Relation to Potential Markets and Raw Material Sources
Authors: Das Chandrasekhar , Heragu Sunderesh 
Published: June 2007

ABSTRACTProximity to the market place has been considered the most important locational factor in the literature so far. However, the growing need for frequent deliveries of materials in smaller lot sizes for just‐in‐time (JIT) manufacturing prefers plants closer to the raw materials sources. Locating plants for JIT manufacturing is, therefore, a problem of finding the right balance between the requirements of procurement and distribution. A comprehensive model is proposed in this paper to solve this problem. The model is solved by using the transportation algorithm and produces simultaneous decisions on procurement, production, and distribution. The model does not require plant sizes to be known a priori, but it allows upper limits to be placed on the size of each plant and raw material source. As such, optimal plant capacities along with the corresponding procurement and distribution quantities are all determined by the model solution.
All‐Units Discounts for Standard Container Sizes
Authors: Knowles Thomas W. , Pantumsinchai Pricha 
Published: June 2007

ABSTRACTSome vendors offer their products to a purchaser in various container sizes. Normally, vendors will offer larger all‐units discounts on larger container sizes. Two algorithms have been developed in this paper to solve for the optimal number of each container size and the order quantity for the deterministic economic order quantity (EOQ) situation. The first algorithm, based in part on the dynamic programming solution to knapsack problems, solves the general case. The second algorithm, based in part on the dominance relations inherent in the pricing schedule, solves the more restricted case in which the purchaser is forced to accept the discount in the following manner. An order must be filled with containers of successively smaller sizes, beginning with the largest size. The purchaser is forced to accept the largest discount first, then the next largest, and so on.
Branch‐and‐Bound Strategies for the Log Bucking Problem
Authors: Bobrowski Paul M. 
Published: June 2007

ABSTRACTTree bucking is the initial production process in converting felled trees into useable wood products. This process has been previously modelled as a dynamic programming problem. Unlike other production problems that have been modelled as dynamic programming problems, there have been no serious attempts to formulate this problem as a branch‐and‐bound model and then examine the model's performance. This research develops the tree bucking problem as a branch‐and‐bound model to be tested by varying several parameters. The testing is performed in two phases: (1) a sensitivity analysis is performed to test two key parameters used by the model, and (2) branching strategies are tested on various problem scenarios. The size of the solution sets searched by the technique vary from as low as 40 to as many as 41,000 possible combinations.
Multi‐Item Grouping Algorithm Yielding Near‐Optimal Logistics Cost
Authors: Buffa Frank P. , Munn Joseph R. 
Published: June 2007

ABSTRACTThis article describes an algorithm used to formulate an inbound consolidation strategy when multi‐items are replenished in groups and when total logistics cost is to be minimized. The importance of this algorithm is threefold (1) no optimal procedure exists for grouping multi‐items when minimizing total logistics cost, (2) a complete enumeration of all possible groups (from which the optimal grouping set can be identified) is impractical due to the combinatorial nature of the grouping problem, and (3) no other heuristics have been developed that adequately reflect shipping cost in the analysis like this one does. We report the experience of using this algorithm to group and reorder 75 selected ensembles containing a total of 517 inventory items of a retail merchandising firm.
Discriminant Analysis Using Least Absolute Deviations
Authors: Lee Chau‐Kwor , Ord J. Keith 
Published: June 2007

ABSTRACTSeveral linear programming methods have been suggested as discrimination procedures. A least absolute deviations regression procedure is developed here which is simpler to use and does not suffer from any lack of invariance. A simulation study shows it to be at least as effective as any of the methods previously discussed for normal and heavy‐tailed distributions.
Decision Support for Bus Operations in a Mass Transit System*
Authors: Smith L. Douglas , Nauss Robert M. , Bird David A. 
Published: June 2007

ABSTRACTA computerized system has been developed for assigning, parking, and dispatching buses so that each operator in the St. Louis metropolitan transit system generally drives the same bus each day. Combinations of optimizing routines, mathematical heuristics, decision rules from experienced personnel, and human intervention are used to manage the bus operations efficiently. This paper describes the tools created for this task and documents significant improvements in maintenance that occurred after the system became operational.
The Integration of Cost and Capacity Considerations in Material Requirements Planning Systems
Authors: Veral Emre A. , LaForge R. Lawrence 
Published: June 2007

ABSTRACTWithin the sequential framework of material requirements planning (MRP), a master production schedule (MPS) of end‐item production is prepared and a bill‐of‐material processor is used to convert the MPS into a plan for needed subassemblies, parts, and materials. This study examines the impact of different procedures for considering inventory‐related costs and capacity limitations in the two phases of planning: master production scheduling and bill‐of‐material (BOM) processing. A total of nine procedures are considered for integrating the two phases of planning. The results indicate that the integrated procedures have a significant effect on the trade‐offs among inventory‐related costs, work load variations, over/under time costs, and excess work loads. Further, the results suggest that the method used to develop the MPS has the primary influence on these trade‐offs, but the method used by the BOM processor can sometimes have a moderating effect.
An Information‐Maximizing Interactive Procedure for Scenario Probability Elicitation
Authors: Mahesh Sathiadev , Moskowitz Herbert 
Published: June 2007

ABSTRACTVarious approaches have been proposed for determining scenario probabilities to facilitate long‐range planning and decision making. These include microlevel approaches based on the analysis of relevant underlying events and their interrelations and direct macrolevel examination of the scenarios. The determination of a unique solution demands excessive consistency and time requirements on the part of the expert and often is not guaranteed by these procedures. We propose an interactive information maximizing scenario probability query procedure (IMQP) that exploits the desirable features of existing methods while circumventing their drawbacks. The approach requires elicitation of cardinal probability assessments and bounds for only marginal and first‐order conditional events, as well as ordinal probability comparisons (probability orderings or rankings) of carefully selected scenario subsets determined using concepts of information theory. Guidelines for implementation based on simulation results are also developed. A goal program for handling inconsistent ordinal probability responses is also integrated into the procedure. The results of behavioral experimentation (which compared our approach to Expert Choice and showed that the IMQP was viable) compared favorably in terms of ease of use and time requirements, and works best for problems with a large number of scenarios. Design modifications to IMQP learned from the experiments, such as incorporating interactive graphics, are also in progress.
Applied Capital Budgeting with Cash Flow Dependencies*
Authors: Norgaard Richard , Killeen Timothy 
Published: June 2007

ABSTRACTThis article provides decision makers with a method of determining the variability and acceptability of a major capital investment. The model used here differs from previous models in that it does not use simulation, nor does it require a normal distribution for the cash flow component. Further, it has no restrictions on whether cash flows are dependent. An example of the technique is included.
Distribution of Spot and Forward Exchange Rates: Empirical Evidence and Investor Valuation of Skewness and Kurtosis*
Authors: Aggarwal Raj 
Published: June 2007

ABSTRACTThis paper examines the statistical distribution of exchange rates for eight major currencies for the post‐1973 floating rate period. The results show that spot rates, forward rates, and ex‐post risk premia all exhibit significant, persistent, but varying deviations from normality, and that the risk premia in forward rates reflect investor preferences for skewness and investor aversion towards standard deviation and kurtosis. These results imply that foreign currency forecasting and hedging practices, mean‐variance portfolio analysis, pricing of foreign currency options, and other research involving exchange rates should account for these significant deviations from normality.
A Demonstration of Methods for Studying Negotiations Between Physicians and Health Care Managers*
Authors: Alemi Farrokh , Fos Peter , Lacorte William 
Published: June 2007

ABSTRACTDecision analysis was used to study negotiations in the health care context. This paper found that analytical methods could answer several important questions related to complex negotiations, including whether contracts promote the interest of both parties, whether a decision aid could better meet the priorities of both parties, and whether one negotiator is more successful than the other in repeated negotiations. The paper concluded that micro‐health care negotiations can be traced and studied with existing mathematical theories of negotiation.