Recently, Ohta et al. [Quality and Reliability Engineering International 17: 439-446, 2001] have studied the economic design of CCC(Cumulative Count of Conforming)-r charts for high-yield processes assuming a fixed hazard rate. Generally, however, the hazard rate is varying over time. With the...

We study a duopoly model of trade and its trade policy. The two country trade model to be discussed is the following. There are three goods (0,1 and 2). Good 0 is produced by perfectly competitive firms, and the good 1 and the good 2 are imperfect substitutes, each produced by a home and a...

In [6], Long and Katayama presented a model of exploitation of a common property resource, when agents can also invest in private and productive capital. They considered the case where the resource extracted from a common pool is non-renewable. In this paper, we try to extend their result to the...

When the spot price and production risk are jointly normally distributed, the mean-variance approach has little theoretical justification. The authors use Taylor approximations instead and show the three results. One, farmers hedge less than expected production when the futures price is less...