Economics Insights @ CBS

We consider a family of N items that are produced in, or obtained from, the same production facility. Demands are deterministic for each item and each period within a given horizon of T periods. If in a given period an order is placed, setup costs are incurred. The aggregate order size is constrained by a capacity limit. The objective is to find a lot-sizing strategy that satisfies the demands for all items over the entire horizon without backlogging, and that minimizes the sum of inventory-carrying costs, fixed-order costs, and variable-order costs.

The article explores the history of the U.S. Institutional Review Board (IRB) system and its penetration into local institutions. The author found that the Code of Federal Regulations Governing the Protection of Human Subjects in Research develops categories of risk for which various types of medical research are required. In this regard, research or reviews identified with the highest level of assessed risk can only be considered by a convened panel of IRB members.

In the present investigation, we build on prior research by examining perceptions of choices and their outcomes as a factor of independent and interdependent self–construals, the identity of the chooser, and the recipient of the choice. Results from two experiments suggest that independent selves prefer to be both chooser and choice recipient, whereas interdependent selves are more amenable to choosing for others and having others choose on their behalf.