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This paper presents a game theoretic multi-level optimization model that aims to control the international biofuel market, driving it towards the desired scenario. The resulting model gives an interpretation of the different scenarios that could face real world energy systems. The upper level decision maker, an international body, aims to maximize the total amount of biofuel that is locally produced...
Generation capacity expansion models have a long tradition in the power industry. Designed as optimization problems for the regulated monopoly industry, they can be interpreted as equilibrium models in a competitive environment. While often written as deterministic problems, they can be adapted to accommodate the wide range of uncertainties that currently assail the industry. We consider a stochastic...
To maximize the total revenue and have efficient flow of the supply chain, enterprises engage in implementing quick response and reducing uncertainty of business transition. In this paper, replenishment plan, pricing policy, the effects of scheduling special sale period and purchase-cost increase and lost sale are considered in deteriorating model. We provide a comprehensive analysis to derive the...
Unlike traditional spectrum sharing model with a predetermined fixed interference threshold at the primary receiver, in the paper we consider a new spectrum sharing model with a elastic controllable interference varying between 0 and bottom threshold that is maximum the primary receiver can tolerated, and we introduce a seller's market trading mechanism in order to fully exploit the interference room,...
Irreversible investments with largest outlay made with incomplete information are the mainstay of the oilfield development. Real Options Analysis (ROA) is a useful tool for making investment decisions under market uncertainty. Normal information generates continuous mean-reverting process for oil prices, whereas random abnormal information generates discrete jumps of random size. We evaluate an oilfield...
This paper studies behavioral economics of sports lottery product considering three kinds of conditions including single item of reward, multi-item of reward with equal number and multi-item of reward with increasing number based on cumulative prospect theory. The study indicates that the price for sports lottery increases and the total funds raised increases as the items increasing, and the pricing...
The objective of the work is to present, analyze critically and illustrate the possibilities of implementing the decomposition model of price effects in the works of E. E. Slutsky, the known American economist. Starting from the author's idea that the height of real consumer income is determined by the attainable quantity of goods along with available income and consumer use optimization, some decomposition...
The objective of the work is to analyze and consider critically the relevance of decomposition model for price effects in J. R. Hicks' works, the famous British economist. It is about the analysis of price change effects on consumer choice optimization, attainable use and optimal consumption structure. Starting from Hicks' conception of real consumer income, the models of limiting the total price...
We discuss a multi-period portfolio selection problem with transaction costs in this paper. We assume that the sample space is finite, and the possible securities price vector transitions is equivalent to the number of securities. By introducing a set of auxiliary martingales, we connect the primal problem with a set of optimization problems without transaction costs. We find that the dual problem,...
Management (i.e. initial allocation and subsequent increase / decrease) of credit limits is one of the most critical decisions related to credit card accounts. It affects a number of variables that have direct or indirect influence on the profitability of the portfolio. This paper proposes the use of a new type of model (termed action-effect model) to study the effect of credit limit increase / decrease...
Price reference effect theory is introduced in an electronic products supply chain composed of one supplier and buyers. The supplier produces the electronic products that are perishable and sells to the buyers. Under reference effect, both spot price and reference price affect the buyers' procurement decisions. Based on such situation, the supplier makes his production and pricing decision in each...
In order to make credit guarantee contract more scientific and subjective, it has built a credit guarantee financial contract model with default repayment factor considered. The analysis result has shown that credit guarantee institution may agree to guarantee or refuse to guarantee for SME when the retained earnings of SME is zero. There is a critical value of retained earnings for SME when the retained...
We study the potential of a dynamic spectrum management framework that enables sequential allocation of frequency bands for wireless service providers. We present our distributed system design on allocation and pricing with the goal of achieving efficient spectrum utilization, flexible allocations and incentive-compatibility, considering physical interference model among frequency licensees. Our work...
Competition for users on a global market is fierce, forcing enterprises to provide for better, faster services while offering the same more cheaply. At the same time, users choose to remain oblivious of the infrastructure behind the service - only demanding that it works. This work presents a policy-based revenue management system for computing clouds. Due to the novelty of the market Cloud providers...
The problem of joint decision of dynamic pricing and dynamic inventory is studied for an apparel supply chain consisting of a single manufacturer and a single retailer. Assume that the final demand follow Normal distribution and the retailer could learn the parameters of demand probability distribution by applying Bayesian formula. Then an optimization model is established to decide the optimal inventory...
Based on the analysis of the current hybrid recommender systems, this paper proposes a new recommender system framework to overcome the disadvantage of these hybridization technologies. In the new system, various Web personalized recommending methods are integrated into a market model. It is capable of producing recommendations for the unregistered users. And a finely reasonable auction process is...
This paper considers a supply chain system consisting of a single supplier and a single retailer and the market demand is price-sensitive. The optimal retail prices and the profits of the members in the supply chain under central control and decentralized game are studied respectively. Based on that, a mathematical description about the coordination mechanism design is presented. While the quantity...
Revenue-sharing (RS) contract is a kind of mechanism to improve the performance or to achieve the perfect coordination of supply chain (SC). In the paper, considering supplier has loss-averse preferences, a model of an SC contract aimed at coordinating a two-stage SC is proposed, which is based on revenue sharing mechanism, and the customer demand is stochastic. Then by analyzing the model, the paper...
Integration of regulating power markets of different balancing regions has a potential to reduce the costs of balancing within multinational power markets by exchange of regulating power between these regions. Currently, most regulating power markets are operating on a national level so that exchange of regulating power between regions is minimal. This paper investigates the potentials for reduction...
Pricing and return policy is of great significance for the Internet sellers in e-business environment. This paper establishes an optimization model of pricing and return policy in the statistics perspective and obtains a solution. Itpsilas of a decisive impact to determine the market parameter on making an optimal policy. The authors present a method to estimate the market parameter according to sales...
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