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Multi-period Model (multi-period + model)
Selected AbstractsMulti-Period Planning of Survivable WDM NetworksEUROPEAN TRANSACTIONS ON TELECOMMUNICATIONS, Issue 1 2000Mario Pickavet This paper presents a new heuristic algorithm useful for long-term planning of survivable WDM networks. A multi-period model is formulated that combines network topology design and capacity expansion. The ability to determine network expansion schedules of this type becomes increasingly important to the telecommunications industry and to its customers. The solution technique consists of a Genetic Algorithm that allows to generate several network alternatives for each time period simultaneously and shortest-path techniques to deduce from these alternatives a least-cost network expansion plan over all time periods. The multi-period planning approach is illustrated on a realistic network example. Extensive simulations on a wide range of problem instances are carried out to assess the cost savings that can be expected by choosing a multi-period planning approach instead of an iterative network expansion design method. [source] Demand for cash balances in a cashless economyINTERNATIONAL JOURNAL OF ECONOMIC THEORY, Issue 3 2009Richard Dusansky D11; D91; E41 We study the demand for cash balances in the year 2050, when people exclusively use debit cards for all transactions. Money no longer serves as a medium of exchange. However, money still retains its roles as unit of account, numeraire and store of value. We capture these roles in a multi-period model with intertemporal uncertainty regarding prices and the interest rate on bonds, the alternative asset. A key result of our analysis is that the standard negative relationship between money demand and the bond interest rate is seen to be part of a larger economic reality encompassing a broader range of empirically testable implications, including the possibility that the relationship may be positive. We develop formal structural restrictions under which the positive relationship between cash balance demand and the bond interest rate is not only a possible outcome, but an explicit prediction of the model. [source] Capacity allocation with traditional and Internet channelsNAVAL RESEARCH LOGISTICS: AN INTERNATIONAL JOURNAL, Issue 8 2006Yue Dai Abstract In this paper we study a capacity allocation problem for two firms, each of which has a local store and an online store. Customers may shift among the stores upon encountering a stockout. One question facing each firm is how to allocate its finite capacity (i.e., inventory) between its local and online stores. One firm's allocation affects the decision of the rival, thereby creating a strategic interaction. We consider two scenarios of a single-product single-period model and derive corresponding existence and stability conditions for a Nash equilibrium. We then conduct sensitivity analysis of the equilibrium solution with respect to price and cost parameters. We also prove the existence of a Nash equilibrium for a generalized model in which each firm has multiple local stores and a single online store. Finally, we extend the results to a multi-period model in which each firm decides its total capacity and allocates this capacity between its local and online stores. A myopic solution is derived and shown to be a Nash equilibrium solution of a corresponding "sequential game." © 2006 Wiley Periodicals, Inc. Naval Research Logistics, 2006 [source] The Influence of Knowledge Accumulation on Buyer-Supplier Codevelopment ProjectsTHE JOURNAL OF PRODUCT INNOVATION MANAGEMENT, Issue 5 2003Melissa M. Appleyard This article investigates innovation across a supply chain and considers how knowledge accumulation as a consequence of buyer-supplier codevelopment projects can influence the projects' specifications. The setting is the semiconductor industry, and the players are chip producers who cooperate with their suppliers to modify their manufacturing equipment used to produce new semiconductor devices. Two detailed case studies were undertaken to determine the tradeoffs encountered by the buyer and supplier when setting the parameters that govern codevelopment projects. The findings from the case studies inform a conceptual framework that outlines the net payoffs to buyers when deciding whether to "make" or "buy" their production equipment. If buyers pursue the "make" option, they then have to decide the degree to which they sponsor modifications tailored to their production processes or modifications more generally applicable across the industry. More generally applicable modifications likely would prompt suppliers to invest relatively more in follow-on knowledge creation for upgrades and field support while leading to lower equipment costs due to economies of scale from larger production runs of the new equipment. The framework suggests that when making this sequence of decisions, an innovative buyer also weighs the importance of codevelopment for securing intellectual property rights, guaranteeing early access to new equipment enabling early product launch, and achieving high production yields quickly due to "previewing" the equipment. The conceptual framework leads to a multi-period model that focuses on the importance of knowledge accumulation for project parameterization. As captured by the model, buyers may prefer generally applicable modifications to customized ones, because generally applicable modifications may lead to greater knowledge accumulation at the supplier. This knowledge accumulation may be either "embodied" in equipment upgrades or "unembodied" in improved field support. In addition to shaping the nature of particular codevelopment projects, knowledge accumulation also may have profound implications for long-run industry structure. As seen in the semiconductor industry, knowledge accumulation at equipment suppliers has contributed to the rise of contract manufacturers, because these manufacturers can outfit their production facilities with equipment that embodies the accumulated knowledge. These findings suggest that for both short-run and long-run reasons, the dynamics of knowledge accumulation merit thorough attention when members of a supply chain cooperate during the course of new product development. [source] Assessing the default risk by means of a discrete-time survival analysis approachAPPLIED STOCHASTIC MODELS IN BUSINESS AND INDUSTRY, Issue 4 2008Daniele De Leonardis Abstract In this paper, the problem of company distress is assessed by means of a multi-period model that exploits the potentialities of the survival analysis approach when both survival times and regressors are measured at discrete points in time. The discrete-time hazards model can be used both as an empirical framework in the analysis of the causes of the deterioration process that leads to the default and as a tool for the prediction of the same event. Our results show that the prediction accuracy of the duration model is better than that provided by a single-period logistic model. It is also shown that the predictive power of the discrete-time survival analysis is enhanced when it is extended to allow for unobserved individual heterogeneity (frailty). Copyright © 2008 John Wiley & Sons, Ltd. [source] Optimal Stealth Trading of the Insider and Expected Profit of the Mimicking Trader,ASIA-PACIFIC JOURNAL OF FINANCIAL STUDIES, Issue 3 2009Jaehyun Lee Abstract In this paper we perform theoretical and empirical analyses on the insiders' optimal "stealth" strategy and expected profits from mimicking trading when the insiders' trading information is publicly available. When insiders select a mixed strategy of AR (1) process as the information exposure strategy in a multi-period model, we find the optimal AR (1) coefficient that maximizes the insiders' profit is negative. Also, (1) the greater the transaction volume of mimicking traders in the market and the longer the information exposure period, the closer the optimum AR (1) coefficient becomes to ,1; (2) The larger the mimicking transaction volume, the smaller the insider's profit gets; and (3) When the volume of mimicking transaction is large and the private information is not much valuable, the likelihood of loss is high. We also validate certain theoretical results of our model using publicized ownership change data of major shareholders. As a result, we find the strategic evidences in the sample of insider transactions closing within 15 trading days. Also, although mimicking traders' losses have not been reported, they can suffer losses when the private information is not much valuable and the insiders take a significant strategic action. [source] | |||||||||||||