The study of the entrepreneurial mindset has provided valuable insights into the cognitive strategies that impact entrepreneurial activities. Researchers have identified several biases and heuristics employed by entrepreneurs, which significantly influence their decision-making processes and...

Over the past decades psychological theories have made significant headway into economics, culminating in the 2002 (partially) and 2017 Nobel prizes awarded for work in the field of Behavioural Economics. Many of the insights imported from psychology into economics share a common trait: the...

This paper is devoted to the development of heuristics for the dynamic pricing problem. A discrete time model of dynamic pricing on the fixed time horizon is proposed. It is applicable to products that satisfy two properties: 1) product value expires at a certain predetermined date, and 2)...

Background: Order picking is a critical activity in end-product warehouses, particularly using the picker-to-part system, entail substantial manual labor, representing approximately 60% of warehouse work. Methods: This study develops a new linear model to perform batching, which allows for...

This paper provides an overview of behaviors and learning of heterogeneous economic agents -whether individuals or firms- within complex evolving economies. It aims to explore the microfoundation of agency and learning, two fundamental aspects that constitutively contribute to the emergence of...

Purpose - The Purpose of this study is to investigate the impact of behavioral biases on investment decisions through a serial mediation of overconfidence and disposition effects. Design/methodology/approach The authors assess the behavioral biases affecting the investment decisions of life...

This paper investigates a Multi-Stage Stochastic Districting Problem (MSSDP). The goal is to devise a districting plan (i.e., clusters of Territorial Units—TUs) accounting for uncertain parameters changing over a discrete multi-period planning horizon. The problem is cast as a multi-stage...

For some NP-hard lotsizing problems, many different heuristics exist, but they have different solution qualities and computation times depending on the characteristics of the instance. The computation times of the individual heuristics increase significantly with the problem size, so that...

Background: The Vehicle Routing Problem with Time Windows (VRPTW) has been extensively researched due to its applicability across various real-world domains, including logistics, healthcare, and distribution systems. With the global elderly population projected to continue increasing, the demand...

Optimizing solid waste management (SWM) is essential for ensuring a sustainable and healthy environment in a city. This study considers a two-echelon solid waste logistics system (2E-SWLS) in a metropolitan city with a fleet of capacitated heterogeneous vehicles. The problem consists of waste...

This research focuses on modeling and solving a bi-objective hybrid flow shop scheduling problem, considering uncertain job-dependent setup times and worker constraints. The main objective of the mathematical model is to simultaneously minimize the Maximum Completion Time (Cmax) and minimize the...