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Managing Inventory with Multiple Products, Lags in Delivery, Resource Constraints, and Lost Sales: A Mathematical Programming Approach

Downs, Brian; Metters, Richard; Semple, John - In: Management Science 47 (2001) 3, pp. 464-479

. We develop nonparametric estimates of these costs and use them in conjunction with linear programming to produce what is …

Persistent link: https://www.econbiz.de/10009191183

Tolerance Sensitivity and Optimality Bounds in Linear Programming

Wendell, Richard E. - In: Management Science 50 (2004) 6, pp. 797-803

Traditional sensitivity analysis in linear programming usually focuses on variations of one coefficient or term at a time. The tolerance approach was proposed to provide a decision maker with an effective and easy-to-use method to summarize the effects of simultaneous and independent changes in...

Persistent link: https://www.econbiz.de/10009191206

Hybridising Tabu Search with Optimisation Techniques for Irregular Stock Cutting

Bennell, Julia A.; Dowsland, Kathryn A. - In: Management Science 47 (2001) 8, pp. 1160-1172

Sequential meta-heuristic implementations for the irregular stock-cutting problem have highlighted a number of common problems. The literature suggests a consensus that it is more efficient to allow configurations with overlapping pieces in the solution space and to penalise these in the...

Persistent link: https://www.econbiz.de/10009191292

A Survey of the Implications of the Behavior of the Central Path for the Duality Theory of Linear Programming

Güler, O.; Roos, C.; Terlaky, T.; Vial, J.-Ph. - In: Management Science 41 (1995) 12, pp. 1922-1934

The literature in the field of interior point methods for Linear Programming has been almost exclusively algorithmic oriented. Very few contributions have been made towards the theory of Linear Programming itself. In particular none of them offer a simple, self-contained introduction to the...

Persistent link: https://www.econbiz.de/10009191596

On Stochastic Dominance and Decreasing Absolute Risk Averse Option Pricing Bounds

Ritchken, Peter; Kuo, Shyanjaw - In: Management Science 35 (1989) 1, pp. 51-59

Merton, Perrakis and Ryan, Levy, and Ritchken have established option pricing bounds under first and second stochastic dominance preferences. These bounds are particularly important for valuing contingent claims when continuous trading in the claim and/or underlying security does not exist. This...

Persistent link: https://www.econbiz.de/10009191737

Mean-Absolute Deviation Portfolio Optimization Model and Its Applications to Tokyo Stock Market

Konno, Hiroshi; Yamazaki, Hiroaki - In: Management Science 37 (1991) 5, pp. 519-531

The purpose of this paper is to demonstrate that a portfolio optimization model using the L<sub>1</sub> risk (mean absolute deviation risk) function can remove most of the difficulties associated with the classical Markowitz's model while maintaining its advantages over equilibrium models. In particular,...

Persistent link: https://www.econbiz.de/10009191829

The Efficiency of the Simplex Method: A Survey

Shamir, Ron - In: Management Science 33 (1987) 3, pp. 301-334

The Linear Programming Problem is by far the most widely used optimization model. Its impact on economic and government modeling is immense. The Simplex Method for solving the Linear Programming (LP) Problem, due to George Dantzig, has been an extremely efficient computational tool for almost...

Persistent link: https://www.econbiz.de/10009191987

Tatonnement Procedures for Linearly Constrained Convex Optimization

Kallio, Markku; Salo, Seppo - In: Management Science 40 (1994) 6, pp. 788-797

The emphasis in this article is to exploit the fact that precision requirements for solutions of most economic models in practice are moderate only. A simple approach is introduced for solving linearly constrained partial equilibrium models based on an iterative scheme similar to the simplex...

Persistent link: https://www.econbiz.de/10009197608

Personnel Tour Scheduling When Starting-Time Restrictions Are Present

Brusco, Michael J.; Jacobs, Larry W. - In: Management Science 44 (1998) 4, pp. 534-547

United Airlines (UA) airport ground stations. One of the best of these procedures yielded solution costs that averaged only 1 ….36 full-time-equivalent employees above very conservative LP-based lower bounds. Moreover, the solution costs obtained using … this procedure were, on average, 28 percent closer to the lower bounds than solution costs obtained using UA's current …

Persistent link: https://www.econbiz.de/10009197703

Generalized Column Generation for Linear Programming

Osman O\u{g}uz - In: Management Science 48 (2002) 3, pp. 444-452

Column generation is a well-known and widely practiced technique for solving linear programs with too many variables or constraints to include in the initial formulation explicitly. Instead, the required column information is generated at each iteration of the simplex algorithm. This paper shows...

Persistent link: https://www.econbiz.de/10009197766