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Economic lot-sizing games

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  • Heuvel, Wilco van den
  • Borm, Peter
  • Hamers, Herbert

Abstract

In this paper we introduce a new class of OR games: economic lot-sizing (ELS) games. There are a number of retailers that have a known demand for a fixed number of periods. To satisfy demand the retailers order products at the same manufacturer. By placing joint orders instead of individual orders, costs can be reduced and a cooperative game arises. In this paper we show that ELS games are balanced. Furthermore, we show that two special classes of ELS games are concave.
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Heuvel, Wilco van den & Borm, Peter & Hamers, Herbert, 2007. "Economic lot-sizing games," European Journal of Operational Research, Elsevier, vol. 176(2), pages 1117-1130, January.
  • Handle: RePEc:eee:ejores:v:176:y:2007:i:2:p:1117-1130
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    References listed on IDEAS

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    1. Meca, Ana & Timmer, Judith & Garcia-Jurado, Ignacio & Borm, Peter, 2004. "Inventory games," European Journal of Operational Research, Elsevier, vol. 156(1), pages 127-139, July.
      • Meca-Martinez, A. & Timmer, J.B. & Garcia-Jurado, I. & Borm, P.E.M., 1999. "Inventory Games," Discussion Paper 1999-53, Tilburg University, Center for Economic Research.
      • Meca, A. & Timmer, J.B. & Garcia-Jurado, I. & Borm, P.E.M., 2004. "Inventory games," Other publications TiSEM 49368f2d-02fc-49c9-9d74-8, Tilburg University, School of Economics and Management.
    2. Peter Borm & Herbert Hamers & Ruud Hendrickx, 2001. "Operations research games: A survey," TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, Springer;Sociedad de Estadística e Investigación Operativa, vol. 9(2), pages 139-199, December.
    3. Harvey M. Wagner & Thomson M. Whitin, 1958. "Dynamic Version of the Economic Lot Size Model," Management Science, INFORMS, vol. 5(1), pages 89-96, October.
    4. Ichiishi, Tatsuro, 1981. "Super-modularity: Applications to convex games and to the greedy algorithm for LP," Journal of Economic Theory, Elsevier, vol. 25(2), pages 283-286, October.
    5. Awi Federgruen & Michal Tzur, 1991. "A Simple Forward Algorithm to Solve General Dynamic Lot Sizing Models with n Periods in 0(n log n) or 0(n) Time," Management Science, INFORMS, vol. 37(8), pages 909-925, August.
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    Citations

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    Cited by:

    1. Wilco van den Heuvel & Albert P.M. Wagelmans, 2002. "A Note on Ending Inventory Valuation in Multiperiod Production Scheduling," Tinbergen Institute Discussion Papers 02-067/4, Tinbergen Institute.
    2. Li, Jun & Feng, Hairong & Zeng, Yinlian, 2014. "Inventory games with permissible delay in payments," European Journal of Operational Research, Elsevier, vol. 234(3), pages 694-700.
    3. Esmaeili, M. & Aryanezhad, Mir-Bahador & Zeephongsekul, P., 2009. "A game theory approach in seller-buyer supply chain," European Journal of Operational Research, Elsevier, vol. 195(2), pages 442-448, June.
    4. Esmaeili, M. & Zeephongsekul, P., 2010. "Seller-buyer models of supply chain management with an asymmetric information structure," International Journal of Production Economics, Elsevier, vol. 123(1), pages 146-154, January.
    5. Retel Helmrich, M. & Jans, R.F. & van den Heuvel, W. & Wagelmans, A.P.M., 2012. "The Economic Lot-Sizing Problem with an Emission Constraint," Econometric Institute Research Papers EI 2011-41, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.
    6. Nguyen, Christine & Dessouky, Maged & Toriello, Alejandro, 2014. "Consolidation strategies for the delivery of perishable products," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 69(C), pages 108-121.
    7. Retel Helmrich, M. & Jans, R.F. & van den Heuvel, W.J. & Wagelmans, A.P.M., 2010. "Economic lot-sizing with remanufacturing: complexity and efficient formulations," Econometric Institute Research Papers EI 2010-71, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.
    8. repec:spr:orspec:v:40:y:2018:i:1:d:10.1007_s00291-017-0499-6 is not listed on IDEAS
    9. Körpeoğlu, Evren & Şen, Alper & Güler, Kemal, 2013. "Non-cooperative joint replenishment under asymmetric information," European Journal of Operational Research, Elsevier, vol. 227(3), pages 434-443.
    10. LAMAS, ALEJANDRO & CHEVALIER, Philippe, 2013. "Jumping the hurdles for collaboration: fairness in operations pooling in the absence of transfer payments," CORE Discussion Papers 2013073, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    11. Fiestras-Janeiro, M.G. & García-Jurado, I. & Meca, A. & Mosquera, M.A., 2011. "Cooperative game theory and inventory management," European Journal of Operational Research, Elsevier, vol. 210(3), pages 459-466, May.
    12. Drechsel, J. & Kimms, A., 2010. "Computing core allocations in cooperative games with an application to cooperative procurement," International Journal of Production Economics, Elsevier, vol. 128(1), pages 310-321, November.
    13. Palak, Gökçe & Ekşioğlu, Sandra Duni & Geunes, Joseph, 2014. "Analyzing the impacts of carbon regulatory mechanisms on supplier and mode selection decisions: An application to a biofuel supply chain," International Journal of Production Economics, Elsevier, vol. 154(C), pages 198-216.
    14. Uhan, Nelson A., 2015. "Stochastic linear programming games with concave preferences," European Journal of Operational Research, Elsevier, vol. 243(2), pages 637-646.
    15. repec:eee:ejores:v:266:y:2018:i:1:p:135-146 is not listed on IDEAS
    16. van den Heuvel, W. & Wagelmans, A.P.M., 2007. "Four equivalent lot-sizing models," Econometric Institute Research Papers EI 2007-30, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.
    17. Günter Fandel & Jan Trockel, 2016. "Investment and lot size planning in a supply chain: coordinating a just-in-time-delivery with a Harris- or a Wagner/Whitin-solution," Journal of Business Economics, Springer, vol. 86(1), pages 173-195, January.

    More about this item

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • M - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics
    • M11 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Production Management
    • R4 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics

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