Economic Lot-Sizing Games

Wilco van den Heuvel, Peter Borm and Herbert Hamers

ERIM Report Series Research in Management from Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam

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.

Keywords: gamet heory; inventory; lot-sizing; production (search for similar items in EconPapers)
JEL-codes: C71 M M11 R4 (search for similar items in EconPapers)
Date: 2004-11-17
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Journal Article: Economic lot-sizing games (2007)
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