This paper illustrates how individual forecasts and forecasting techniques may be evaluated by the use of established decision theory. Given the probability distribution of the forecast error, we first find the optimal strategy for a decision process, i.e., how to make the most efficient use of...

The definition of the cost of resources devoted to inventories which is inherent in the economic-lot-size procedure implies financial conditions which may not exist. This would lead to infeasibility and/or to a misstatement of carrying costs. If carrying costs are incorrectly stated, then in...

The Alabama liquid asphalt market in the USA is examined over the period 1961-1978 for evidence of activity consistent with collusion. Some 14 conditional collusion-facilitating factors that could influence a market's tendency towards collusion, not all equally important or necessarily in...

The New Empirical Industrial Organization (NEIO) provides techniques for the estimation of parameters of conduct that identify well-defined models of oligopoly behaviour, ranging from perfect competition, or, equivalently, Bertrand competition, the Cournot outcome and collusive cartel. The...