Dynamic microsimulation modelling involves two stages: estimation and forecasting. Unobserved heterogeneity is often considered in estimation, but not in forecasting, beyond trivial cases. Non-trivial cases involve individuals that enter the simulation with a history of previous outcomes. We...

A number of theoretical studies have explained the existence of arbitrage opportunity with so called ¡§noise traders¡¨ (e.g., De Long et al., 1990; Shleifer and Vishny, 1997; Abreu and Brunnermeier, 2002). In fact, noise traders can create the arbitrage opportunity because they are quite influential...

The Modified Han (MH) algorithm aims at providing a cost optimized solution to real world maritime container transportation problems, which often are unbalanced and inconsistent. By modelling a 3-index container transportation problem as an inconsistent systems of linear inequalities, we apply...

This paper is focused on solving different hard optimization problems that arise in the field of insurance and, more specifically, in reinsurance problems. In this area, the complexity of the models and assumptions considered in the definition of the reinsurance rules and conditions produces...

Transportation electrification has become an important issue in recent decades and the large scale deployment of electric vehicles (EVs) has yet to be achieved. The smart coordination of EV demand addresses an improvement in the flexibility of power systems and reduces the costs of power system...

Control charts are extensively used in manufacturing contexts to monitor production processes. This article illustrates economical design of a variable sample size and control limit Hotelling's T2 control chart based on a novel cost model when occurrence times of the assignable causes are...

Process shift is an important input parameter in the economic design of control charts. Earlier x control chart designs considered constant shifts to occur in the mean of the process for a given assignable cause. This assumption has been criticized by many researchers since it may not be...