Purpose – The objectives of this study are to investigate the relationship between hotel room demand and room rates, and to find a viable solution for the optimal room rate that maximizes the total profit. Design/methodology/approach – There are various studies in the literature on how room...

In this paper efficient computational strategies are presented to speed-up the analysis of random media and components. In particular, a Hybrid Stochastic Optimization (HSO) tool, based on the synergy between various algorithms, i.e. Genetic Algorithms, Simulated Annealing as well as Tabu-list...

The paper presents the optimal control theory and the maximum principle technique that is suitable for solving dynamic optimalization problems in continuous time. Modern mainstream macroeconomics stresses microeconomics principles of solved problems. However, the application of the standard...

Purpose – The liquefied natural gas (LNG) business comprises a number of economic activities with inherent risks. The purpose of this paper is to propose an integrated modelling approach, as part of the investment decision‐making process, for optimising economic returns from LNG whilst...

Purpose – The main purpose of this research is to find an optimal allocation of marketing budgets which maximizes customer equity in an uncertain environment. Since markets are naturally uncertain environments, the aim is to incorporate uncertainty into the model. Design/methodology/approach...

Purpose – The purpose of this paper is fourfold: to provide an overview of the alternative simplified credit (ASC) and a basic understanding of how it works; to provide a brief history of the research and experimentation credit as a whole and its evolution; to emphasize the importance of this...

Purpose – The purpose of this study is to introduce the concept of social welfare chain and address the challenges in decision making through the development of an optimal planning model for a nongovernmental organization (NGO). The distinctive properties of the social welfare chain and its...