In this paper we propose two new methods of portfolio allocation which are applicable for all return distributions. The properties of these new methods are compared with that of Markowitzs mean-variance method using extensive simulation. It is found that the new methods perform appreciably in...

Rank data occurs quite regularly in the context of market research studies, opinion polls, sports, etc. In this paper, we discuss the problem of estimation of the true rank when the rank given by the respondents are subject to error. Various error structures are discussed like, transposition...

Control charts play a very important role in the control of manufacturing processes. In this paper we consider the commonly used performance measures for control charts and study their SB-robustness. It is shown that the False Alarm Probability, Average Sample Number (ASN) when the process is...

Mathematical programming techniques were used in the steel industry as early as 1958, and many applications of optimization in steel production have been reported since then. In this survey, we summarize published applications in the largest steel plants by type, including national steel...

A railway passenger faces a dilemma of choosing the best train among several alternatives available in a particular route. A relative comparison of competing railways helps the passenger to make an informed choice before the actual travel. In this paper we develop a utility model for railway...

An airline passenger has a number of choices before he/she makes his/her travel decision. Competing airlines are also interested in the preference set of the traveller. Passenger choice modelling is an essential component of any revenue management system. In this paper, we develop a linear...

We introduce a multiple scenario, multiple period, optimization-based decision support system (DSS) for strategic planning in a process industry. The DSS is based on a two stage stochastic linear program (SLP) with recourse for strategic planning. The model could be used with little or no...

The National Railways of an Emerging Asian Economy (NREAE), the second largest railway network in the world, is facing growing challenges from low fare airlines. To combat these challenges, NREAE has to adopt revenue management systems where efficient forecasting plays a crucial role. In this...

In this paper, we study the mechanism of dynamic pricing of electricity and its opportunities in the Indian context. We compare the economic efficiency of dynamic pricing vis-à-vis the traditional flat tariff of electricity. We analyse various ways in which dynamic tariff can be introduced in...