We derive a sharp upper bound on the minimal forecast horizon in the discounted dynamic lot size model with constant initial demand. This bound is given by m(m 1), where m is the EOQ's worth, i.e., the number of periods for which the total demand equals Economic Order Quantity. Our results do...

A quadratic model for production-inventory planning was made famous by Holt, Modigliani, Muth, and Simon in 1960 in [3], especially for its application to a paint factory. A discrete control version of a related quadratic production-inventory model was studied by Kleindorfer, Kriebel, Thompson,...

This paper considers the problems of a dynamic continuous thief, such as a habitual shoplifter or a gas siphoner, who must choose the pilfering rate (which increases the probability of his arrest over time) to maximize the present value of his total expected gain over a given finite or infinite...

This note considers a problem of simultaneous selection of a subset of N projects and determination of an optimal sequence to implement these projects so as to maximize the net present value of the total return. We first establish an optimal sequence of all projects which does not depend on the...

This paper gives optimality conditions to obtain a priori precedence relationships among some of the jobs in a single machine scheduling problem so as to curtail the enumeration while using branch-and-bound technique. The objective is to minimize a quadratic (or generalized quadratic) penalty...

The following typographical errors appeared in our paper "Planning Horizon Procedures for Machine Replacement Models," Management Science, Vol. 25, No. 2 (February 1979), pp. 140-151.

The following typographical errors appeared in my paper "Optimal Pilfering Policies for Dynamic Continuous Thieves," Management Sci., Vol. 25, No. 6 (1979), pp. 535-542.

This paper considers the problems of a dynamic continuous thief, such as a habitual shoplifter or a gas siphoner, who must choose the pilfering rate (which increases the probability of his arrest over time) to maximize the present value of his total expected gain over a given finite or infinte...

This paper presents a review of recent developments that have taken place in the area of dynamic optimal control models in advertising subsequent to the comprehensive survey of the literature by Sethi in 1977. The basic problem underlying these models is that of determining optimal advertising...

In this paper, we revisit and clarify the celebrated machine maintenance and sale age model of Kamien and Schwartz (KS) involving a machine subject to failure. KS formulate and solve the problem as a deterministic optimal control problem with the probability of the machine failure as the state...