This paper analyzes the relationship between opportunity costs of waiting and bribery in rationing by waiting situations. Assuming that a uniform waiting time clears the market for any given bribe and the bureaucrat chooses a bribe to maximize profit, the market equilibrium is characterized in...

We offer a new and straightforward proof of F.B. Knight's [3] theorem that the Cauchy type is characterized by the fact that it has no atom and is invariant under the involution i : x - -1/x. Our approach uses the representation X = tan theta where theta is uniform on (-pi/2,pi/2) when X is...

Abstract Consider a product with quality characteristic X . Assume that the product is composed of n parts each with quality characteristic X i , and and let X = X 1 + . . . + X n Assume that there is a lower specification L and an upper specification U for X . Then the problem arises how to...

We study an assemble-to-order inventory system. The stocks are held for components, with final products assembled only when customer orders are realized. Customer orders form a multivariate compound Poisson process, component replenishment leadtimes are constant, and demands in excess of...

The cohort parity analysis (CPA) model of David et al. (1988) is studied formally as a three-state parity-progression table. The general solution is found in a form of convex combination of a finite set of solutions which are described explicitly. A parameterization is suggested for a broad...