We study a multi-item two-stage production system subject to Markov-modulated demands and production quantity requirements. The demand distribution for each item in each period is governed by a discrete Markov chain. The products are manufactured in two stages. In the first stage, a common...

We study a setting in which consumers can either purchase a product for which they have uncertain valuation and, hence, uncertain utility or choose an outside option for which their utility is certain. The uncertainty in the product valuation is resolved after a consumer chooses either of the...