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One way of thinking about research and development is to recognise that firms are trying to solve particular design problems. We often build these design problems into our models, but are forced to oversimplify them in order to make the models solvable. The approach taken in this paper is to...
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quality and the complexity of the product. While the product's quality determines the direct benefits of the product to the … consumer, the product's complexity affects how costly it is for this Bayesian consumer to extract information about the product … propose policies for approval by voters. We find that complexity is not necessarily a feature of low quality products. While …
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The car sequencing problem determines sequences of different car models launched down a mixed-model assembly line. To avoid work overloads of workforce, car sequencing restricts the maximum occurrence of labor-intensive options, e.g., a sunroof, by applying sequencing rules. We consider this...
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