This article presents a dynamic pricing model of a retailer selling an inventory, accounting for consumer behavior. The authors propose an optimal control model, maximizing the intertemporal profit with consumers sensitive to the selling price and to a reference price. The optimal dynamic...

Markov model of multi-component machining system comprising two unreliable heterogeneous servers and mixed type of standby support has been studied. The repair job of broken down machines is done on the basis of bi-level threshold policy for the activation of the servers. The server returns back...

Based on a dynamic model of the stochastic repayment behavior exhibited by delinquent credit-card accounts as a self-exciting point process, a bank can control the arrival intensity of repayments using costly account-treatment actions. A semi-analytic solution to the corresponding stochastic...