In this paper, we study a dynamic fleet management problem with uncertain demands and customer chosen service levels. We first show that the problem can be transformed into a dynamic network with partially dependent random arc capacities, and then develop a structural decomposition approach...

This article explores adaptive management (AM) for decision-making under environmental uncertainty. In the context of targeting invasive species inspections of agricultural imports, I find that risk aversion increases the relative value of AM and can increase the rate of exploratory action....