In this note we derive the expected total discounted profit of an insurer due to a single policy holder within a third-party liability insurance. We consider both a policy holder claiming optimally and non-optimally.

In this note we derive the expected total discounted profit of an insurer due to a single policy holder within a third-party liability insurance. We consider both a policy holder claiming optimally and non-optimally.

We address multi-item inventory systems with random and seasonally fluctuating, and possibly correlated, demands. The items are produced in two stages, each with its own lead-time; in the first stage a common intermediate product is manufactured. The production volumes in the first stage are...

We introduce the notion of LImited Memory Influence Diagram (LIMID) to describe multistage decision problems in which the traditional assumption of no forgetting is relaxed. This can be relevant in situations with multiple decision makers or when decisions must be prescribed under memory...

This paper models a type of vendor-managed inventory (VMI) agreement that occurs in practice called a (z, Z) contract. We investigate the savings due to better coordination of production and delivery facilitated by such an agreement. The optimal behavior of both the supplier and the retailer are...

In this paper, a optimization problem for stopped Markov decision processes with vector-valued terminal reward and multiple running cost constraints is considered. Applying the idea of occupation measures and using the scalarization technique for vector maximization problems we obtain the...