This paper presents a survey of simulation and optimization modeling approaches used in reservoir systems operation problems. Optimization methods have been proved of much importance when used with simulation modeling and the two approaches when combined give the best results. The main objective...

Given n points in the plane with nonnegative weights, the inverse Fermat-Weber problem consists in changing the weights at minimum cost such that a prespecified point in the plane becomes the Euclidean 1-median. The cost is proportional to the increase or decrease of the corresponding weight. In...

In this paper we offer a simple exposition of the neoclassical production theoretic foundations of Data Envelopment Analysis. The concepts of technical efficiency (both input- and output-oriented), scale efficiency, and cost efficiency are explained and the corresponding DEA models are described...

We consider a cash management problem where a company with a given financial endowment and given future cash flows minimizes the Conditional Value at Risk of final wealth using a lower bound for the expected terminal wealth. We formulate the optimization problem as a multi-stage stochastic...