Search Results - subject:"Decision Processes"

On bidding for a fixed number of items in a sequence of auctions

Katehakis, Michael N.; Puranam, Kartikeya S. - In: European Journal of Operational Research 222 (2012) 1, pp. 76-84

We consider the problem of a firm (“the buyer”) that must acquire a fixed number (L) of items. The buyer can acquire these items either at a fixed buy-it-now price in the open market or by participating in a sequence of NL auctions. The objective of the buyer is to minimize his expected...

Persistent link: https://www.econbiz.de/10011052820

Maximizing throughput in finite-source parallel queue systems

Delasay, Mohammad; Kolfal, Bora; Ingolfsson, Armann - In: European Journal of Operational Research 217 (2012) 3, pp. 554-559

Motivated by the dispatching of trucks to shovels in surface mines, we study optimal routing in a Markovian finite-source, multi-server queueing system with heterogeneous servers, each with a separate queue. We formulate the problem of routing customers to servers to maximize the system...

Persistent link: https://www.econbiz.de/10010574188

The Effect of Budgetary Restrictions on Breast Cancer Diagnostic Decisions

Ayvaci, Mehmet U. S.; Alagoz, Oguzhan; Burnside, … - In: Manufacturing & Service Operations Management 14 (2012) 4, pp. 600-617

We develop a finite-horizon discrete-time constrained Markov decision process (MDP) to model diagnostic decisions after mammography where we maximize the total expected quality-adjusted life years (QALYs) of a patient under resource constraints. We use clinical data to estimate the parameters of...

Persistent link: https://www.econbiz.de/10010630517

Pricing of american and european options using the Markov decision processes

Mentzen, Slawomir - In: Acta Universitatis Nicolai Copernici, Ekonomia 43 (2012) 2, pp. 211-220

The paper describes the theoretical foundations of Markov decision processes (MDP), presents the pricing algorithms for …

Persistent link: https://www.econbiz.de/10010632900

In-transit perishable product inspection

White, Chelsea C.; Cheong, Taesu - In: Transportation Research Part E: Logistics and … 48 (2012) 1, pp. 310-330

We determine the value of monitoring perishable freight in-transit for a single vehicle traveling from an origin to a destination. We develop a computationally practical approach for determining the optimal expected cost function and an optimal policy, based on an infinite horizon partially...

Persistent link: https://www.econbiz.de/10010755086

Reassessing tradeoffs inherent to simultaneous maintenance and production planning

Batun, Sakine; Maillart, Lisa M. - In: Production and operations management : an international … 21 (2012) 2, pp. 396-403

Persistent link: https://www.econbiz.de/10009544174

GOT PERP? EYEWITNESS ACCURACY, DECISION PROCESSES, AND PRESENTATION PROCEDURES USING SEQUENTIAL LINEUPS

Caputo, Deanna - 2004

lineups. Study 1 was designed to identify the decision processes of eyewitnesses. While viewing a culprit-present lineup … simple matching strategy containing three decision processes and a deliberative strategy with four decision processes … inaccurate identifications in culprit-absent lineups and found that the decision processes of inaccurate eyewitnesses did not …

Persistent link: https://www.econbiz.de/10009466187

A Case Study of Strategic Decision Processes In An Economic Development Initiative

Lamm, Deborah Lane - 2003

This dissertation is designed to document and to describe the strategic, non-routine decision processes used by leaders …: What are the strategic decision processes as well as actions and beliefs that community college leaders, county leaders … Theoret's research (1976) of unstructured, strategic decision processes serves as the framework for this study of an economic …

Persistent link: https://www.econbiz.de/10009431328

Optimal dividend-payout in random discrete time

Albrecher, Hansjörg; Bäuerle, Nicole; Thonhauser, Stefan - In: Statistics & Risk Modeling 28 (2011) 3, pp. 251-276

Abstract Assume that the surplus process of an insurance company is described by a general Lévy process and that possible dividend pay-outs to shareholders are restricted to random discrete times which are determined by an independent renewal process. Under this setting we show that the optimal...

Persistent link: https://www.econbiz.de/10014621403

Project portfolio selection in continuous improvement

Kornfeld, Bernard J.; Kara, Sami - In: International Journal of Operations & Production Management 31 (2011) 10, pp. 1071-1088

Purpose – The purpose of this paper is to provide a systematic overview of approaches to project portfolio selection in continuous improvement and to identify opportunities for future research. Design/methodology/approach – This paper reviews the extant literature on the theory and...

Persistent link: https://www.econbiz.de/10014790146