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Short Term Employment Functions in British Manufacturing Industry

Richard Ball; E. B. A. St. Cyr
Review of Economic Studies 1966 33(3), 179
Journal Article Short Term Employment Functions in British Manufacturing Industry Get access R. J. Ball, R. J. Ball London Graduate School of Business Studies and University of Manchester Search for other works by this author on: Oxford Academic Google Scholar E. B. A. St Cyr E. B. A. St Cyr London Graduate School of Business Studies and University of Manchester Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 33, Issue 3, July 1966, Pages 179–207, https://doi.org/10.2307/2974413 Published: 01 July 1966

Multi-Item Production and Inventory Management Under Price Uncertainty

B. Banerjee; Shubhashis Sengupta
Econometrica 1966 34(4), 796 open access
A model is presented for the derivation and implementation of optimal linear decision rule for a firm producing and dealing in a number of interacting products, and possessing partial influence on their prices. The behavior of a multi-item production-inventory complex is represented as the dynamics of suitably defined state variables under the influence of decision rules that are stable and linear in the state variables, but otherwise unspecified. The dynamical equations are stochastic owing to the presence of stochastic processes in the forcing terms. The statistical properties of these processes, together with the decision rules, determine the statistics of the outcome or the criterion functional. The optimum inventory decision is then derived as the "best" linear transformation on the past of the state variables such that the mean value of the criterion functional is optimized subject to the system constraints. [Likely published between 1961-1966.]