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Economic lot-sizing games

Author

Listed:
  • van den Heuvel, W.
  • Borm, P.E.M.

    (Tilburg University, School of Economics and Management)

  • Hamers, H.J.M.

    (Tilburg University, School of Economics and Management)

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.
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Suggested Citation

  • van den Heuvel, W. & Borm, P.E.M. & Hamers, H.J.M., 2007. "Economic lot-sizing games," Other publications TiSEM f559452b-09d9-4a51-9b9d-1, Tilburg University, School of Economics and Management.
    • Handle: RePEc:tiu:tiutis:f559452b-09d9-4a51-9b9d-1f1938f1a212
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    File URL: https://pure.uvt.nl/ws/portalfiles/portal/860281/econlot.pdf
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    References listed on IDEAS

    as
    1. 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.
    2. 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-Martinez, A. & Timmer, J.B. & Garcia-Jurado, I. & Borm, P.E.M., 1999. "Inventory Games," Other publications TiSEM 21f26b3f-7fae-4f19-908f-a, Tilburg University, School of Economics and Management.
      • 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.
    3. Albert Wagelmans & Stan van Hoesel & Antoon Kolen, 1992. "Economic Lot Sizing: An O(n log n) Algorithm That Runs in Linear Time in the Wagner-Whitin Case," Operations Research, INFORMS, vol. 40(1-supplem), pages 145-156, February.
    4. 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.
    5. Lloyd S. Shapley, 1967. "On balanced sets and cores," Naval Research Logistics Quarterly, John Wiley & Sons, vol. 14(4), pages 453-460.
    6. 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.
    7. 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.
    8. Alok Aggarwal & James K. Park, 1993. "Improved Algorithms for Economic Lot Size Problems," Operations Research, INFORMS, vol. 41(3), pages 549-571, June.
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    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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