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The problem of comparing random vectors arises in many applications. We propose three new concepts of stochastically weighted dominance for comparing random vectors X and Y. The main idea is to use a random vector V to scalarize X and Y as VTX and VTY, and subsequently use available concepts...
Persistent link: https://www.econbiz.de/10010738159
Models for decision-making under uncertainty use probability distributions to represent variables whose values are unknown when the decisions are to be made. Often the distributions are estimated with observed data. Sometimes these variables depend on the decisions but the dependence is ignored...
Persistent link: https://www.econbiz.de/10010847950
This paper studies optimal path problems integrated with the concept of second order stochastic dominance. These problems arise from applications where travelers are concerned with the trade off between the risks associated with random travel time and other travel costs. Risk-averse behavior is...
Persistent link: https://www.econbiz.de/10010865569
Carriers are under increasing pressure to offset rising fuel charges with cost cutting or revenue generating schemes. One opportunity for cost reduction lies in asset management. This paper presents resource allocation scheduling models that can be used to assign truck loads to delivery times...
Persistent link: https://www.econbiz.de/10011052531
Models for decision-making under uncertainty use probability distributions to represent variables whose values are unknown when the decisions are to be made. Often the distributions are estimated with observed data. Sometimes these variables depend on the decisions but the dependence is ignored...
Persistent link: https://www.econbiz.de/10010950330