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Michael P. Johnson

Stochastic optimization

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Decision Science For Housing And Community Development: Localized And Evidence‐Based Responses To Distressed Housing And Blighted Communities, Michael P. Johnson Jr., Jeffrey Keisler, Senay Solak, David Turcotte, Armagan Bayram, Rachel B. Drew Sep 2015

Decision Science For Housing And Community Development: Localized And Evidence‐Based Responses To Distressed Housing And Blighted Communities, Michael P. Johnson Jr., Jeffrey Keisler, Senay Solak, David Turcotte, Armagan Bayram, Rachel B. Drew

Michael P. Johnson

This book presents decision models and applications to an important contemporary issue in urban housing and community development: local responses to the foreclosure crisis. The roots of this book are a National Science Foundation-funded project as well as an antecedent pilot project that served as a response to a phenomenon with multiple causes and large-scale and wide-ranging impacts on people, communities and markets worldwide, including in urbanized areas of the United States. The book demonstrates that a diverse set of decision models, developed to respond to the recent foreclosure crisis in the US, can contribute to emerging scholarship in public-sector …

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Stochastic Models For Strategic Resource Allocation In Nonprofit Foreclosed Housing Acquisitions, Armagan Bayram, Senay Solak, Michael P. Johnson Jr. Jan 2014

Stochastic Models For Strategic Resource Allocation In Nonprofit Foreclosed Housing Acquisitions, Armagan Bayram, Senay Solak, Michael P. Johnson Jr.

Michael P. Johnson

Increased rates of mortgage foreclosures in the U.S. have had devastating social and economic impacts during and after the 2008 financial crisis. As part of the response to this problem, non-profit organizations such as community development corporations (CDCs) have been trying to mitigate the negative impacts of mortgage foreclosures by acquiring and redeveloping foreclosed properties. We consider the strategic resource allocation decisions for these organizations which involve budget allocations to different neighborhoods under cost and return uncertainty. Based on interactions with a CDC, we develop stochastic integer programming based frame- works for this decision problem, and assess the practical value …

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