A model of the production lag and work-in-process inventories

Article Abstract:

A more sophisticated model of the production process was developed that incorporated production lag as a decision variable. The model stands in contrast to models of inventory behavior and output which give a simplistic view of the production process. The development of work-in-process inventories to complement the linear-quadratic model of finished goods was a primary goal of the study. The results showed that stylized facts of the behavior of inventories and production were well-captured by the model when flexibility was allowed in production lags.

Economic aspects, Manufacturing processes, Manufacturing, Inventories, Linear models (Statistics)

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Compatibility of regional and multilateral trading agreements: reforming the WTO process

Article Abstract:

The World Trade Organization (WTO) has proven that it can immediately confront issues concerning the General Agreements on Tariffs and Trade, particularly the creation of regional trade agreements. This was seen in the creation of a Committee tasked by the WTO to study new regional agreements, develop and implement process improvements and review existing agreements. Moreover, the holding of ministerial meetings provide a venue for member economies to express their views regarding the system.

Interpretation and construction, World Trade Organization, Commercial treaties, Trade agreements

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Modelling multilateral negotiations: an application to California water policy

Article Abstract:

Negotiations are generally characterized by an initial lack of cooperation and a multilateral framework where decisionmaking is complicated by a host of factors and participants can only guess at their fellow participants' preferences. Eventually, coalitions emerge and the negotiating structure evolves leading to either a resolution or a failure to reach agreement. The 'Three Way Water Agreement Process' in California is presented as a typical example of the negotiation process.

Negotiation, Negotiations

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