Learn More
We present and study a three-stage model of a decentralized distribution system consisting of n retailers, each of whom faces a stochastic demand for an identical product. In the first stage, before the demand is realized, each retailer independently orders her initial inventory. In the second stage, after the demand is realized, each retailer decides how(More)
In different industries, such as automobiles, chemicals, or retailing, competitors are joining forces in establishing electronic marketplaces in order to reduce inefficiencies in the purchasing process and cut the costs, by combining their buying power. Joining such an alliance leads to reduced costs, including those of possible rivals, since members share(More)