The goal of this paper is provide a theory of K-person non-stationary Markov games with unbounded rewards, for a countable state space and action spaces. We investigate both the finite and infinite horizon problems. We define the concept of strong Nash equilibrium and present conditions for both...

We investigate M/M/1/∞-systems with inventory management, continuous review, exponentially distributed lead times and backordering. We compute performance measures and derive optimality conditions under different order policies. For performance measures, which are not explicitly at hand, we...

In this paper we analyse the equilibrium structure for a particular type of electricity market. We consider a market with two generators offering electricity into a pool. Generators are centrally dispatched, with cheapest offers used first. The pool price is determined as the highest-priced...

A model that combines an inventory and location decision is presented, analyzed and solved. In particular, we consider a single distribution center location that serves a finite number of sales outlets for a perishable product. The total cost to be minimized, consists of the transportation costs...

In many industries, managers face the problem of selling a given stock of items by a deadline. We investigate the problem of dynamically pricing such inventories when demand is price sensitive and stochastic and the firm’s objective is to maximize expected revenues. Examples that fit this...

For more than two machines, and when preemption is forbidden, the computation of minimum makespan schedules for the open-shop problem is NP-hard. Compared to the flow-shop and the job-shop, the open-shop has free job routes which lead to a much larger solution space, to smaller gaps between the...