Cooperation between Multiple Newsvendors with Warehouses

This study considers a supply chain that consists of n retailers, each of them facing a newsvendor problem, m warehouses and a supplier.The retailers are supplied with a single product via some warehouses.In these warehouses, the ordered amounts of goods of these retailers become available after some lead time.At the time that the goods arrive at the warehouses, demand realizations are known by the retailers.The retailers can increase their expected joint profits by coordinating their orders and making allocations after demand realization.For this setting, we consider an associated cooperative game between the retailers.We show that this associated cooperative game has a nonempty core. Finally, we study a variant of this game, where the retailers are allowed to leave unsold goods at the warehouses.supply chain management;newsvendor;warehouse;game theory;balancedness

Characterizations of a Multi-Choice Value

A multi-choice game is a generalization of a cooperative game in which each player has several activity levels.This note provides several characterizations of the extended Shapley value as proposed by Derks and Peters (1993).Three characterizations are based on balanced contributions properties, inspired by Myerson (1980).

Cooperation between Multiple Newsvendors with Warehouses

This study considers a supply chain that consists of n retailers, each of them facing a newsvendor problem, m warehouses and a supplier.The retailers are supplied with a single product via some warehouses.In these warehouses, the ordered amounts of goods of these retailers become available after some lead time.At the time that the goods arrive at the warehouses, demand realizations are known by the retailers.The retailers can increase their expected joint profits by coordinating their orders and making allocations after demand realization.For this setting, we consider an associated cooperative game between the retailers.We show that this associated cooperative game has a nonempty core. Finally, we study a variant of this game, where the retailers are allowed to leave unsold goods at the warehouses.

Characterizations of the Egalitarian Solution for Convex Games

The egalitarian solution for TU-games as introduced by Dutta and Ray [3] is studied. Two characterizations of the restriction of this solution to the class of convex games are given, using weak variants of the reduced game properties of Hart and Mas-Colell [6] and Davis and Maschler [5]. The other properties are a stability property, inspired by Selten [8], and a property restricting maximum payoffs. Further, a dual egalitarian solution is introduced and it is proved that for a convex game the egalitarian allocation is equal to the dual egalitarian allocation for its dual concave game.

Regulatory bioinformatics for food and drug safety

Abstract "Regulatory Bioinformatics" strives to develop and implement a standardized and transparent bioinformatic framework to support the implementation of existing and emerging technologies in regulatory decision-making. It has great potential to improve public health through the development and use of clinically important medical products and tools to manage the safety of the food supply. However, the application of regulatory bioinformatics also poses new challenges and requires new knowledge and skill sets. In the latest Global Coalition on Regulatory Science Research (GCRSR) governed conference, Global Summit on Regulatory Science (GSRS2015), regulatory bioinformatics principles were presented with respect to global trends, initiatives and case studies. The discussion revealed that datasets, analytical tools, skills and expertise are rapidly developing, in many cases via large international collaborative consortia. It also revealed that significant research is still required to realize the potential applications of regulatory bioinformatics. While there is significant excitement in the possibilities offered by precision medicine to enhance treatments of serious and/or complex diseases, there is a clear need for further development of mechanisms to securely store, curate and share data, integrate databases, and standardized quality control and data analysis procedures. A greater understanding of the biological significance of the data is also required to fully exploit vast datasets that are becoming available. The application of bioinformatics in the microbiological risk analysis paradigm is delivering clear benefits both for the investigation of food borne pathogens and for decision making on clinically important treatments. It is recognized that regulatory bioinformatics will have many beneficial applications by ensuring high quality data, validated tools and standardized processes, which will help inform the regulatory science community of the requirements necessary to ensure the safe introduction and effective use of these applications