Related papers: Quantity Limits on Addictive Goods
A continuous-time consumption-investment model with constraint is considered for a small investor whose decisions are the consumption rate and the allocation of wealth to a risk-free and a risky asset with logarithmic Brownian motion…
Algorithms that favor popular items are used to help us select among many choices, from engaging articles on a social media news feed to songs and books that others have purchased, and from top-raked search engine results to highly-cited…
Inventory models with imperfect quality items are studied by researchers in past two decades. Till now none of them have considered the effect of substitutions to cope up with shortage and avoid lost sales. This paper presents an EOQ…
There are clear benefits associated with a particular consumer choice for many current markets. For example, as we consider here, some products might carry environmental or `green' benefits. Some consumers might value these benefits while…
A key puzzle in search, ads, and recommendation is that the ranking model can only utilize a small portion of the vastly available user interaction data. As a result, increasing data volume, model size, or computation FLOPs will quickly…
Quantitative decision-making (QDM) principles address the issues related to the mapping of results to decisions, the synthesis of information and the quantification of uncertainty. Since the clinical drug development involves a succession…
During an epidemic control, the containment of the disease is usually achieved through increasing devoted resource to shorten the duration of infectiousness. However, the impact of this resource expenditure has not been studied…
Supply chain disruptions cause shortages of raw material and products. To increase resilience, i.e., the ability to cope with shocks, substituting goods in established supply chains can become an effective alternative to creating new…
Ambition and risk-taking have been heralded as important ways for marginalized communities to get out of cycles of poverty. As a result, educational messaging often encourages individuals to strengthen their personal resolve and develop…
Because obesity is a risk factor for many serious illnesses such as diabetes, better understandings of obesity and eating disorders have been attracting attention in neurobiology, psychiatry, and neuroeconomics. This paper presents future…
Lifestyle and environment interacting with our biological machine are primarily responsible for shaping our health and wellbeing. Continuous, multi-modal, and quantitative approaches to understanding and controlling these factors will allow…
Optimal treatment regimes are personalized policies for making a treatment decision based on subject characteristics, with the policy chosen to maximize some value. It is common to aim to maximize the mean outcome in the population, via a…
We study a chemotaxis-consumption mechanism, in which some chemical signal and cells density interact each other. In order to control the concentration of such a population, sources involving gradient nonlinearities, which introduce a…
The auction theory literature has so far focused mostly on the design of mechanisms that takes the revenue or the efficiency as a yardstick. However, scenarios where the {\it capacity}, which we define as \textit{``the number of bidders the…
Frequent emergence of communicable diseases has been a major concern worldwide. Lack of sufficient resources to mitigate the disease-burden makes the situation even more challenging for lower-income countries. Hence, strategy development…
In the new digital age, information is available in large quantities. Since information consumes primarily the attention of its recipients, the scarcity of attention is becoming the main limiting factor. In this study, we investigate the…
We present a formal model for studying fashion trends, in terms of three parameters of fashionable items: (1) their innate utility; (2) individual boredom associated with repeated usage of an item; and (3) social influences associated with…
Empirical research shows that individuals' responses to treatments vary along latent characteristics, such as innate ability or motivation. Therefore, a policymaker seeking to maximize welfare may consider designing policies based on…
Understanding consumption dynamics and its impact on the whole economy and welfare within the present economic crisis is not an easy task. Indeed the level of consumer demand for different goods varies with the prices, consumer incomes and…
Managing requirements on quality aspects is an important issue in the development of software systems. Difficulties arise from expressing them appropriately what in turn results from the difficulty of the concept of quality itself. Building…