This paper adopts a normative approach to catastrophe insurance. It addresses the question of how innovations in the design of insurance contracts could help resolve the capacity gap in the provision of insurance against natural catastrophes. It extends previous research with the same approach...

In this paper we propose two algorithms for solving both unweighted and weighted constrained two-dimensional two-staged cutting stock problems. The problem is called two-staged cutting problem because each produced (sub) optimal cutting pattern is realized by using two cut-phases.

IN this paper, we consider a two-level optimization problem (S) (weak Stackelberg problem) in which the constraints of the upper level problem depend on the set of optimal solutions of the lower level problem, supposed not necessarily a singleton. Using penalty methods, we give an approximation...

Stochastic programs inevitably get huge if they are to model real life problems accurately. Nowadays only massive parallel machines can solve them but at a cost few decision makers can afford. We report hereon a deterministic equivalent linear programming model of 1,111,112 constraints and...

This paper presents linear algebra techniques used in the implementation of an interior point method for solving linear programs and convex quadratic programs with linear constraint. The new regularization techniques for Newton equation system applicable to both symmetric positive definite and...

Sequential meta heuristic implementations for the irregular stock-cutting problem have highlighted a number of common problems. The implementation in this paper adopts a hybrid tabu search approach that incorporates two very different optimisation routines which utilise alternative neighborhoods...

The Envelope Theorem is showm to involve comparisons between the performance of the optimal policy and that of alternative policies, which satisfy the constraints of the problem and may also have other features. The theorem is activated whenever parameter values are such that the extreme value...

This paper analyzes the effect of educational debt and loan-forgiveness programs on both law school entry decisions and the subsequent career choices of law school graduates using a dynamic optimization model and data on several cohorts of graduates from the University of Michigan Law School.