We study the situation where there are a number of on-going production processes each yielding a state-dependent standard reward in discrete time. At each time step one may select at most one of these processes for improvement; the selected process will yield a state-dependent non-standard...

We study the situation where there are a number of on-going production processes each yielding a state-dependent standard reward in discrete time. At each time step one may select at most one of these processes for improvement; the selected process will yield a state-dependent non-standard...

With examples drawn from Australia, Canada, the UK and the USA. Restructuring the Professional Organization is of interest to all students of organization studies seeking to understand the issues and problems confronting the professions

Introductory lectures on capital theory often begin by analyzing the following problem: I have a tree which will be worth X(t) if cut down at time t. If the discount rate is r, when should the tree be cut down? What is the present value of such a tree? The answers to these questions are...