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Remanufacturing is a production strategy whose goal is to recover the residual value of used products. Used products can be remanufactured at a lower cost than the initial production cost, but remanufactured products are valued less than new products by consumers. The choice of production technology influences the value that can be recovered from a used(More)
We consider a monopolist expert offering a service with a 'credence' characteristic. A credence service is one where the customer cannot verify, even after a purchase, whether the amount of prescribed service was appropriate or not; examples include legal, medical or consultancy services and car repair. This creates an incentive for the expert to 'induce(More)
We consider a supplier who faces stationary demand and uses dynamically updated forecast information to place orders to an upstream distributor. The order size is restricted and each order entails a high fixed cost. We characterize the form of the optimal policy in the special case where the fixed cost of ordering is high enough to warrant all-or-nothing(More)
This paper considers inventory models with advance demand information and flexible delivery. Customers place their orders in advance, and delivery is flexible in the sense that early shipment is allowed. Specifically, an order placed at time t by a customer with demand leadtime T should be fulfilled by period t + T ; failure to fulfill it within the time(More)
This paper analyzes the impact of endogenous credit terms under capital market imperfections in a capacity investment setting. We model a monopolist firm that decides on its technology choice (flexible versus dedicated) and capacity level under demand uncertainty. Differing from the majority of the stochastic capacity investment literature , we assume that(More)
Authors are encouraged to submit new papers to INFORMS journals by means of a style file template, which includes the journal title. However, use of a template does not certify that the paper has been accepted for publication in the named journal. INFORMS journal templates are for the exclusive purpose of submitting to an INFORMS journal and should not be(More)
Secondary markets in the Information Technology (IT) industry, where used or refurbished equipment is traded, have been growing steadily. For Original Equipment Manufacturers (OEMs) in this industry, the importance of secondary markets has grown in parallel, not only as a source of revenue, but also because of their impact on these firms' competitive(More)