In this paper we compare expected loss minimization to worst-case or minimax analysis in the design of simple Taylor-style rules for monetary policy using a small model estimated for the euro area by Orphanides and Wieland (2000). We find that rules optimized under a minimax objective in the...

We study a two-machine open shop scheduling problem, in which the machines are not continuously available for processing. No preemption is allowed in the processing of any operation. The objective is to minimize the makespan. We consider approximability issues of the problem with more than one...

This paper compares the commonly used periodic review, replenishment interval, order-up-to (R, T ) policy to the continuous review, reorder point, order quantity, (Q, r) model. We show that long-run average cost function for the single-product (R, T ) policy has a structure similar to that of...

We study a two-machine open shop scheduling problem, in which the machines are not continuously available for processing. No preemption is allowed in the processing of any operation. The objective is to minimize the makespan. We consider approximability issues of the problem with more than one...

Postoptimality or sensitivity analysis are well-developed subjects in almost all branches of mathematical programming. In this note, we propose a simple formula which can be used to get preliminary bounds on the value of this type of analysis for a specific class of mathematical programming...

We present a new approximation algorithm for the two-dimensional bin-packing problem. The algorithm is based on two one-dimensional bin-packing algorithms. Since the algorithm is of next-fit type it can also be used for those cases where the output is required to be on-line (e. g. if we open an...

We present a new approximation algorithm for the two-dimensional bin-packing problem. The algorithm is based on two one-dimensional bin-packing algorithms. Since the algorithm is of next-fit type it can also be used for those cases where the output is required to be on-line (e. g. if we open an...

Solutions of portfolio optimization problems are often influenced by errors or misspecifications due to approximation, estimation and incomplete information. Selected methods for analysis of results obtained by solving stochastic programs are presented and their scope illustrated on generic...