Willingness to pay (WTP) is known to be lower for remanufactured products than for comparable new products. Normative work to date has assumed that a consumer's WTP for a remanufactured product is a fraction, called discount factor, of the consumer's WTP for a corresponding new product, and that...

In this note, I present a methodology that computes the value to a decision maker of a state variable in a Markov decision process (MDP). I consider an MDP where the state is a vector comprised of multiple state variables, and state and action spaces are finite. I then provide a mixed-integer...