We discuss the precision with which financial models are handled, in particular optimisation models. We argue that precision is only required to a level that is justified by the overall accuracy of the model, and that this required precision should be specifically analysed, so to better...

There is considerable interest in the use of genetic algorithms to solve problems arising in the areas of scheduling and timetabling. However, the classical genetic algorithm paradigm is not well equipped to handle the conflict between objectives and constraints that typically occurs in such...

This study introduces a method for finding input and output values that result in efficiency for all decision making units (DMUs) in all stages of a production network. This method contrasts with the usual application of DEA for measurement of efficiency and comparison of decision making units....

This book is concerned with the application of Evolutionary Algorithms (EA) in the domain of management. EA are powerful and broadly applicable search and optimisation techniques based on principles from evolution theory, with Genetic Algorithms being the most well-known class. The first part of...

Disasters are unforeseen occurrences requiring extensive transport deployment to support and relieve victims. Sometimes, this transportation is not feasible directly from some supply points to some destination points. Due to this tragedy, it is unclear precisely what is available at supply...