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Principal-agent problems exist in all walks of social life, and agency theory is an essential approach to dealing with them under incomplete information. Due to incomplete information, it is necessary for the principal to design an optimal incentive scheme to induce the agent to choose the action which is the best possible for maximizing his own utility. In order to depict the incomplete information,...
Partial trade credit is widely used in practice since there exit distinctions between trading partners in financial status, the level of cooperation and negotiation power etc. In this paper, we consider a periodic-review inventory control problem where a retailer with cash flow constraints sells a single product to the market with random demand. In each period, the retailer, offered partial trade...
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