Customers often wait in queues before being served. Since waiting is undesirable, customers may come back later (i.e., retry) when the queue is too long. However, retrial attempts can be costly due to transportation fees and service delays. This paper introduces a framework for rational retrial...

Many theoretical models adopt a normative approach and assume that decision-makers are perfect optimizers. In contrast, this paper takes a descriptive approach and proposes a decision framework of bounded rationality, in which decision-makers are prone to errors and biases. In our model, while...

This paper develops a model of dynamic pricing with endogenous inter-temporal demand. In the model, there is a monopolist who sells a finite inventory over a finite time horizon. The seller adjusts prices dynamically in order to maximize revenue. Customers arrive continually over the duration of...

We consider a supply chain with a single supplier and two retailers. The retailers choose their orders strategically and if their orders exceed the supplier's capacity, quantities are allocated proportionally to the orders. We experimentally study the capacity allocation game using subjects...

Backward induction is a widely accepted principle for predicting behavior in sequential games. In the classic example of the "centipede game," however, players frequently violate this principle. An alternative is a "dynamic level-k" model, where players choose a rule from a rule hierarchy. The...

We consider a supply chain with a single supplier and two retailers. The retailers choose their orders strategically, and if their orders exceed the supplier's capacity, quantities are allocated proportionally to the orders. We experimentally study the capacity allocation game using subjects...

Considering the unclear nuclear future of Japan after Fukushima Dai-ichi nuclear power plant accident since Mar. 11, 2011, this study assesses a series of energy consumption scenarios including the reference scenario, nuclear limited scenarios and current nuclear use level scenario for Japan in...