Determining Optimal Advertising Strategies: A Markov Decision Model Approach*

This study falls in the class of models in which advertising wearout and the differences between the learning and forgetting of advertisements are explicitly included. A discrete time Markov decision modeling approach is used to obtain optimal control limit policies, and an algorithm is provided to identify these policies. A control limit policy specifies whether or not to advertise in a specific time period on the basis of the level of awareness in that time period. Thus, the duration for which advertising is not done is determined endogenously, and the algorithm helps determine this duration for a given set of parameters. This is a particularly desirable feature, since advertising practitioners are interested in determining the optimal duration of advertising pulses. Computational experience suggests that the algorithm is very fast and easy to implement. Also, conditions on model parameters indicating the relative efficacy of pulsing versus uniform advertising are provided.     

Labour market integration of FRY refugees in Sweden vs. Denmark

We compare the long-run labour market integration of the Former Republic of Yugoslavia (FRY) refugees who arrived in the 1990s to the Scandinavian countries in the settings of Sweden and Denmark, respectively. These otherwise similar countries faced different economic conditions at the time of arrival and over the observation period. They also differed in terms of the restrictiveness of asylum policies and in attitudes towards immigration. Using register data from Statistics Sweden and Statistics Denmark, we show that FRY refugees, in both child and adult generations at arrival, are better integrated 12–15 years later in Sweden than in Denmark, even though Sweden experienced a higher level of unemployment than Denmark throughout the period. Our findings suggest that asylum policies promoting early labour market entry and early exposure to a host country's schooling system, as well as access to disability pension and social assistance, are important factors affecting refugee labour market integration.     

Martin K. Starr: A Visionary Proponent for System Integration,Modular Production,and Catastrophe Avoidance

Martin K. Starr facilitated the creation of an identity for production and operations management (POM) as an academic discipline. This paper aims to summarize Starr's substantial contributions to scholarly inquiry on system integration and interfunctional coordination, modular production, and catastrophe avoidance. Even after four decades, we describe how his legacy in these areas continues to define several major drivers of operations and supply chain management research and practice. Starr has influenced several generations of students, professors, and executives with his writings, teaching, and leadership roles in the POM community that include 32 years on the faculty of the Columbia School of Business, 15 years as Editor‐in‐Chief of Management Science, and presidency of the Production and Operations Management Society.