Abstract This paper studies decision rules for accepting reservations for stays in a hotel based on deterministic and stochastic mathematical programming techniques. Booking control strategies are constructed that include ideas for nesting, booking limits and bid prices. We allow for multiple...

Rede, in verkorte vorm uitgesproken op vrijdag 20 september 2002 bij de aanvaarding van het ambt van bijzonder hoogleraar aan de Faculteit der Economische Wetenschappen, vanwege de Vereniging Trustfonds Erasmus Universiteit Rotterdam, met als leeropdracht Mathematische Besliskunde, in het...

Purpose – The purpose of this study is to examine the cost efficiency of 58 branches of a major Greek commercial bank, in six major Greek cities, for the years 2000 and 2001. Design/methodology/approach – The efficiency is measured through the data envelopment analysis (DEA) method. Using...

Purpose – The purpose of this study is to examine the operating efficiency of a set of 171 retail orientation bank branches of a large commercial bank in Greece, offering relatively homogenous products in a multimarket business environment. Design/methodology/approach – For the measurement...

In this paper we analyse the economic impact of alternative water management instruments that allow addressing the problem of non-renewable groundwater pumping in the aquifers of the Guadalentín Valley (southeast Spain). Their impact is assessed using a partial equilibrium mathematical...

Indexing structures are of fundamental importance to modeling languages for mathematical programming as a device for mathematical abstraction, and because they facilitate achieving conciseness, stability, and error-resistance. The aim of this article is to stimulate discussion of such...

Because of the difficulties often experienced in formulating and understanding large-scale models, much current research is directed towards developing systems to support the construction and understanding of management science models. This paper discusses eight different methods for...

In this paper efficient bounds for the price of a call option are obtained using the decreasing absolute risk aversion (DARA) dominance rule. Such lower and upper bounds are obtained minimizing and maximizing, respectively, the objective function of a nonlinear optimization problem. An explicit...

This note develops properties of quasi-efficient solutions and explores interrelationships to the classical concept of efficiency. In particular, a point is a quasi-efficient solution to a multiple objective mathematical program if and only if it is an optimal solution to a scalar maximum...