No abstract

This paper proposes a Cournot game organized by three competing firms adopting bounded rationality. According to the marginal profit in the past time step, each firm tries to update its production using local knowledge. In this game, a firm's preference is represented by a utility function that is derived from a constant elasticity of substitution (CES) production function. The game is modeled by a 3-dimensional discrete dynamical system. The equilibria of the system are numerically studied to detect their complex characteristics due to difficulty to get an explicit form for those equilibria. For the proposed utility function, some cases with different value parameters are considered. Numerical simulations are used to provide an experimental evidence for the complex behavior of the evolution of the system. The obtained results show that the system loses its stability due to different types of bifurcations.

This study derives the probabilistic lost sales inventory system when the order cost is a function of the order quantity. Our objective is to minimize the expected annual total cost under a restriction on the expected annual holding cost when the lead-time demand follows the normal distribution by using the Lagrangian method. Then a published special case is deduced and an illustrative numerical example is added.

This paper discusses the probabilistic backorders inventory system when the order cost unit is a function of the order quantity. Our objective is to minimize the expected annual total cost under a restriction on the expected annual holding cost when the lead time demand follows the uniform distribution. Then some special cases are deduced and an illustrative numerical example with its graphs is added.

No abstract