Many empirical studies have found Cumulative Prospect Theory (CPT) superior in depicting risk behavior compared to the expected utility approach and literature now offers also CPT related parameter estimates for European farmers. CPT combines two segments of utility functions, a convex, risk...

We propose a new approach to formulating the Scheduled Service Network Design Problem (SSNDP) that involves modeling with enumerated consolidations of shipments routed on the physical network. This is in contrast to the classical approach of capturing the synchronization of vehicles and...

Leveraging the unique context of New York City taxi rides, we estimate that passengers are 25 to 30 percentage points more likely to tip a suggested amount when presented an integer tip suggestion. Moreover, we find this behavioral response to integer suggestion varies by tip menu placement,...

In this work, we solve a real-world facility location problem by means of a mixed integer linear programming model. The problem is faced by an Italian multi-utility company operating in the sector of waste management. The company works in several Italian regions to collect and treat the urban...

Ever since the introduction of Markowitz's classical quadratic programming problem, transforming portfolio optimization into a linear programming (LP) problem has drawn much attention from researchers and practitioners, given the tractability of LP. However, using non-linear risk measures and...

The selection of projects from a set of possible alternatives is a key decision in any organization. However, all entities that allocate resource budgets across several projects and initiatives face the same fundamental problem: to select the most valuable projects given a finite budget. The...

Leveraging the unique context of New York City taxi rides, we estimate that passengers are 25 to 30 percentage points more likely to tip a suggested amount when presented an integer tip suggestion. Moreover, we nd this behavioral response to integer suggestion varies by tip menu placement, fare...