Rationing,defective inputs and Bayesian updates under central planning

The enterprise manager anticipates that he will be rationed in his input markets and is required to meet an output target. In order to avoid a penalty for missing the output target, he can purchase the inputs at an earlier time, when rationing is not in effect, but then he must incur an inventory cost. The inputs themselves are defective with a known mean rate but unknown variability; the manager has a prior density over this parameter. He can solve the relevant expected-cost minimisation problem in three ways: (a) by simultaneously determining the optimal amounts to be ordered on the two dates, (b) by dynamic programming, and (c) by dynamic programming combined with Bayesian learning. The paper investigates the properties of the optimal solution under the three scenarios with respect to variations in the defective rate, the level of uncertainty and the relative costs of inventories and of missing the target.     

Inside the mind of the serial murder

This article approaches a position of delving into the thoughts of those who commit murder serially. The information comes from a variety of sources which include research literature, theory examination and most importantly, serial murderers themselves. More than 400 cases of serial fatal violence as well as interviews with incarcerated serial killers were utilized. Important issues such as locus of motives, expected gains, victim selection processes, planning of the event, the murder event itself, and organization and disorganization of the kill are also discussed. While admitting that serial killers have never been rehabilitated, a call is directed toward a better understanding of the mind of the serial murderer.