In this paper, we propose a new approach for stochastic control problems arising from utility maximization. The main idea is to directly start from the dynamical programming equation and compute the conditional expectation using a novel representation of the conditional density function through...

For an increasing upper order hemi-continuous correspondence F selfmapping sigma-complete lattice A, we first provide tight fixed-point bounds for sufficiently large iterations on F starting from any initial point a in A. We use this result for conducting iterative fixed-point comparative...

The healthcare system is no stranger to resource challenges in the face of unlimited demand to fulfill healthcare objectives of satisfying patients, maintaining service quality, and maximizing profit. Healthcare decision-makers are responsible for devising effective methods for allocating scarce...

Clustered data from a product’s reliability experiments may arise from many sources of heterogeneity in practice such as different test units suppliers, pieces of equipment, and operators. It is of interest for reliability practitioners to investigate how to plan such experiments with the aim...

Covering problems are well-studied in the domain of Operations Research, and, more specifically, in Location Science.When the location space is a network, the most frequent assumption is to consider the candidate facility locations, the points to be covered, or both, to be discrete sets. In this...

Shape-From-Shading (SFS) is one unique and long-standing problem aiming to reconstruct shape/depth from only one image. The SFS problem can be regarded as an inverse process of image rendering, i.e., solving the Bi-directional Reflection Distribution Function (BRDF) model with the given image....

We consider an assortment optimization problem where the retailer needs to choose a set of products to offer to customers from the range of available products. By choosing the assortment, which will affect customers' purchase choice, the retailer aims to obtain a high expected revenue. We study...

We propose a functional formulation of Nash equilibrium based on the optimization approach: the set of Nash equilibria, if it is nonempty, is identical to the set of optimizers of a real-valued function. Combining this characterization with lattice theory, we revisit the interchangeability and...

In this article, we propose a PEARM mathematical model to depict the dynamic of a population that reacts in the spread of the gaming disorder with media coverage. The basic reproduction number and existence of free equilibrium point and endimec equilibrium point are obtained with same...

The absolute value equation (AVE) is a nondifferentiable NP-hard and continuous optimization problem with a wide range of application, including linear programming, quadratic programming, and game theory. The AVE has several solution forms, such as single-peak, multi-peak, and high-dimension. In...