This paper considers the problem of prediction in a panel data regression model with spatial auto-correlation in the context of a simple demand equation for liquor. This is based on a panel of 43 states over the period 1965-1994. The spatial auto-correlation due to neighboring states and the...

In this paper, a spatial price equilibrium model with information asymmetry in quality is developed. Producers at the supply markets are aware of the quality of their products, whereas consumers, located at the demand markets, are aware only of the average quality of the products that are...

In this paper, we develop a general multitiered supply chain network equilibrium model consisting of competing suppliers and competing firms who purchase components for the assembly of their final branded products and, if capacity permits, and it enhances profits, produce their own components....

During a pandemic, it is essential to secure a broad allocation of life-saving goods, such as medical and protective products, to save lives. However, these goods are often in short supply, due to consumer hoarding, insufficient manufacturing capacity and price gouging. Herein, we develop a...

In this paper, we present a pharmaceutical supply chain network model with outsourcing under price and quality competition, in both equilibrium and dynamic versions. We consider a pharmaceutical firm that is engaged in determining the optimal pharmaceutical flows associated with its supply chain...

Performance-based contracts (PBC) have become ubiquitous in industries ranging from aerospace and defense to computer support services. Despite advantages of paying for performance under PBC that have been highlighted in many previous studies, the more traditional Transaction-based Contracts...

We introduce a supply chain network equilibrium model with differentiated products, in which firms compete on product quantities and quality. We then extend the model to include a strict quota or tariff. We establish the equivalence between the model with a strict quota and that with a tariff,...