A simple proof of Blackwell's “comparison of experiments” theorem

This note presents a simple proof of Blackwell's well-known theorem on the equivalence of two orderings of experiments, one based on the statistical concept of sufficiency, and the other on the economic concept of the value to the decision makers.     

EOQ application in a pharmaceutical environment: A case study

This paper describes a successful application of classical inventory theory at a drug manufacturing plant located in Montreal that has resulted in annual savings in the order of $110,800 and assisted management in its decision to invest in larger production equipment. The basic assumptions underlying EOQ models are reviewed and dealt with. For instance, an algorithm was devised to handle the peaks in the demand of many A class items. Following the implementation of this algorithm, buffer stocks were reduced signifi cantly while maintaining the same high levels of service.     

Wirtschaftswachstum und Wohlfahrtsstaat

Ohne Zusammenfassung     

The impact of individualism on buyer–supplier relationship norms,trust and market performance: An analysis of data from Brazil and the U.S.A.

This study focuses on the impact of the cultural dimension of individualism, face-to-face communication and the effect of relational norms such as supplier involvement and trust on the market performance of buyer firms. We use the culture literature and social exchange theory to test hypotheses using a sample of Brazilian and US manufacturing firms. The data were analyzed using variance-based structural equation modeling, employing nonlinear partial least squares regression. Our findings indicate that individualism is negatively related to the involvement of suppliers in the production process but is not associated with trust in suppliers. In addition face-to-face communication seems to have a positive effect on supplier involvement and trust.