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Articles 1 - 28 of 28
Full-Text Articles in Business
Integrated Analysis Of Economic Optimization And Life Cycle Assessment For A Fully Modular Wheelchair Accessibility Ramp Utilizing Recyclable Materials, Nicolas Whelan
Honors Scholar Theses
In response to the growing emphasis on sustainability and accessibility in infrastructure development, this research paper delves into the optimization of economic opportunities presented by fully modular wheelchair accessibility ramps. By integrating principles of modularity, recyclability, and circular design, these ramps offer a promising solution to the dual challenges of accessibility and environmental impact. The study employs interdisciplinary methods, merging design, economics, and environmental sustainability, to evaluate the feasibility and potential of these innovative ramp designs. Central to the analysis is the application of a Life Cycle Assessment (LCA) to quantify the environmental impact and carbon footprint associated with modular …
A Comparative Performance Analysis Of Intelligence-Based Algorithms For Optimizing Competitive Facility Location Problems, Vahid Hajipour, Seyed Taghi Akhavan Niaki, Madjid Tavana, Francisco J. Santos-Arteaga, Sanaz Hosseinzadeh
A Comparative Performance Analysis Of Intelligence-Based Algorithms For Optimizing Competitive Facility Location Problems, Vahid Hajipour, Seyed Taghi Akhavan Niaki, Madjid Tavana, Francisco J. Santos-Arteaga, Sanaz Hosseinzadeh
Business Systems and Analytics Faculty Work
Most companies operate to maximize profits and increase their market shares in competitive environments. Since the proper location of the facilities conditions their market shares and profits, the competitive facility location problem (CFLP) has been extensively applied in the literature. This problem generally falls within the class of NP-hard problems, which are difficult to solve. Therefore, choosing a proper solution method to optimize the problem is a key factor. Even though CFLPs have been consistently solved and investigated, an important question that keeps being neglected is how to choose an appropriate solution technique. Since there are no specific criteria for …
A Review On Derivative Hedging Using Reinforcement Learning, Peng Liu
A Review On Derivative Hedging Using Reinforcement Learning, Peng Liu
Research Collection Lee Kong Chian School Of Business
Hedging is a common trading activity to manage the risk of engaging in transactions that involve derivatives such as options. Perfect and timely hedging, however, is an impossible task in the real market that characterizes discrete-time transactions with costs. Recent years have witnessed reinforcement learning (RL) in formulating optimal hedging strategies. Specifically, different RL algorithms have been applied to learn the optimal offsetting position based on market conditions, offering an automatic risk management solution that proposes optimal hedging strategies while catering to both market dynamics and restrictions. In this article, the author provides a comprehensive review of the use of …
Improving Safety Service Patrol Performance, Mecit Cetin, Hong Yang, Kun Xie, Sherif Ishak, Guocong Zhai, Junqing Wang, Giridhar Kattepogu
Improving Safety Service Patrol Performance, Mecit Cetin, Hong Yang, Kun Xie, Sherif Ishak, Guocong Zhai, Junqing Wang, Giridhar Kattepogu
Civil & Environmental Engineering Faculty Publications
Safety Service Patrols (SSPs) provide motorists with assistance free of charge on most freeways and some key primary roads in Virginia. This research project is focused on developing a tool to help the Virginia Department of Transportation (VDOT) optimize SSP routes and schedules (hereafter called SSP-OPT). The computational tool, SSP-OPT, takes readily available data (e.g., corridor and segment lengths, turnaround points, average annual daily traffic) and outputs potential SSP configurations that meet the desired criteria and produce the best possible performance metrics for a given corridor. At a high level, the main components of the developed tool include capabilities to: …
An Application Of Portfolio Mean-Variance And Semi-Variance Optimization Techniques: A Case Of Fiji, Ronald Ravinesh Kumar, Peter Josef Stauvermann, Aristeidis Samitas
An Application Of Portfolio Mean-Variance And Semi-Variance Optimization Techniques: A Case Of Fiji, Ronald Ravinesh Kumar, Peter Josef Stauvermann, Aristeidis Samitas
All Works
In this paper, we apply the Markowitz portfolio optimization technique based on mean-variance and semi-variance as measures of risk on stocks listed on the South Pacific Stock Exchange, Fiji. We document key market characteristics and consider monthly returns data from SEP-2019 to FEB-2022 (T = 30) of 17/19 listed companies on the stock exchange to construct various portfolios like 1/N (naïve), maximum return, and market and minimum-variance with and without short-selling constraints. Additionally, we compute each stock’s beta using the market capitalization-weighted stock price index data. We note that well-diversified portfolios (market portfolio and minimum-variance portfolio) with short-selling constraints have …
An Integrated Fuzzy Goal Programming—Theory Of Constraints Model For Production Planning And Optimization, Habib Zare, Mahyar Kamali Saraji, Madjid Tavana, Dalia Streimikiene, Fausto Cavallaro
An Integrated Fuzzy Goal Programming—Theory Of Constraints Model For Production Planning And Optimization, Habib Zare, Mahyar Kamali Saraji, Madjid Tavana, Dalia Streimikiene, Fausto Cavallaro
Business Systems and Analytics Faculty Work
Manufacturing companies are under constant pressure to optimize the economic sustain-ability of their production systems. Production planning and optimization is a well-established strategy for considering resource constraints and improving economic productivity. This study proposes an integrated fuzzy goal planning and the theory of constraints for production planning and optimization. To this end, a hybrid Delphi–Buckley method was used to identify the relevant goals and a paired matrix questionnaire was used to determine the fuzzy weights of the goals. Furthermore, a fuzzy bottleneck detection algorithm was used to deal with the bottlenecks. A case study in the cable industry is presented …
Impact Of Different Types Of In-Store Displays On Consumer Purchase Behavior, Yoonju Han, Sandeep R. Chandukala, Shibo Li
Impact Of Different Types Of In-Store Displays On Consumer Purchase Behavior, Yoonju Han, Sandeep R. Chandukala, Shibo Li
Research Collection Lee Kong Chian School Of Business
Research on consumer in-store shopping behavior does not account for the existence of different types of display locations (e.g. storefront, store rear, secondary, front end cap, rear end cap, and shelf displays). This article focuses on accounting for and understanding the impact of various displays on consumer purchase behavior based on the Stimulus-Organism-Response (SOR) theory. Specifically, we study how displays closer to and farther from the main location of the focal category influence consumer purchase behavior. Furthermore, within the different types of displays we investigate the impact of specific types of displays on consumer's category purchase and brand choice and …
Establishing Cryptocurrency Equilibria Through Game Theory, Carey Caginalp, Gunduz Caginalp
Establishing Cryptocurrency Equilibria Through Game Theory, Carey Caginalp, Gunduz Caginalp
ESI Publications
We utilize optimization methods to determine equilibria of cryptocurrencies. A core group, the wealthy, fears the loss of assets that can be seized by a government. Volatility may be influenced by speculators. The wealthy must divide their assets between the home currency and the cryptocurrency, while the government decides the probability of seizing a fraction the assets of this group. We establish conditions for existence and uniqueness of Nash equilibria. Also examined is the separate timescale problem in which the government policy cannot be reversed, while the wealthy can adjust their allocation in reaction to the government’s designation of probability.
Clock As A Mediating Technology Of Organization, Melissa Gregg, Tamara Kneese
Clock As A Mediating Technology Of Organization, Melissa Gregg, Tamara Kneese
Media Studies
The clock has long been a social technology, or a way of authorizing a singular source to propel collective activity. This chapter explores whether this social function continues in quite the same way in the wake of digital technology. It investigates the particular role of the clock in the workplace—how a predictable relationship to time accrued value for The Organization as an institutional form. The chapter traces the history of the clock, from factories to the contemporary digital workplace, asking how new technologies have changed the status of the clock as a way of organizing labour and productivity.
Knowledge Management Overview Of Feature Selection Problem In High-Dimensional Financial Data: Cooperative Co-Evolution And Map Reduce Perspectives, A. N. M. Bazlur Rashid, Tonmoy Choudhury
Knowledge Management Overview Of Feature Selection Problem In High-Dimensional Financial Data: Cooperative Co-Evolution And Map Reduce Perspectives, A. N. M. Bazlur Rashid, Tonmoy Choudhury
Research outputs 2014 to 2021
The term "big data" characterizes the massive amounts of data generation by the advanced technologies in different domains using 4Vs volume, velocity, variety, and veracity-to indicate the amount of data that can only be processed via computationally intensive analysis, the speed of their creation, the different types of data, and their accuracy. High-dimensional financial data, such as time-series and space-Time data, contain a large number of features (variables) while having a small number of samples, which are used to measure various real-Time business situations for financial organizations. Such datasets are normally noisy, and complex correlations may exist between their features, …
Constrained Dual Representation Of Coherent Risk Measures, Marcus Ang, Jie Sun, Qiang Yao
Constrained Dual Representation Of Coherent Risk Measures, Marcus Ang, Jie Sun, Qiang Yao
Research Collection Lee Kong Chian School Of Business
A classical result in risk measure theory states that every coherent risk measure has a dual representation as the supremum of certain expected value over a risk envelope. We study this topic in more detail. The related issues include: (1) Set operations of risk envelopes and how they change the risk measures, (2) The structure of risk envelopes of popular risk measures, (3) Aversity of risk measures and its impact to risk envelopes, and (4) A connection between risk measures in stochastic optimization and uncertainty sets in robust optimization.
Multigeneration Product Diffusion In The Presence Of Strategic Consumers, Zhiling Guo, Jianqing Chen
Multigeneration Product Diffusion In The Presence Of Strategic Consumers, Zhiling Guo, Jianqing Chen
Research Collection School Of Computing and Information Systems
Frequent new product releases pose significant challenges for firms as they manage successive generations of product diffusion. We develop an analytical model to study the effect of different purchase options by strategic consumers on a firm's profit and the firm's strategies for the timing and pricing of its successive generations of product diffusion. We show that consumers' strategic behavior, although adversely affecting the sales of the first-generation product, positively influences the sales of the second-generation product through an initial “seeding” effect. The influence of strategic consumers on profit and sales depends largely on the discount-to-price ratio of the first generation …
Improving Physician Schedules By Leveraging Equalization: Cases From Hospitals In U.S., Pelin Damcı-Kurt, Minjiao Zhang, Brian Marentay
Improving Physician Schedules By Leveraging Equalization: Cases From Hospitals In U.S., Pelin Damcı-Kurt, Minjiao Zhang, Brian Marentay
Faculty and Research Publications
In this paper, we consider physician scheduling problems originating from a medical staff scheduling service provider based in the United States. Creating a physician schedule is a complex task. An optimal schedule must balance a number of goals including adequately staffing required assignments for quality patient care, adhering to a unique set of rules that depend on hospital and medical specialties, and maintaining a work-life balance for physicians. We study various types of physician and hospital requirements with different priorities, including equalization constraints to ensure that each provider will receive approximately the same number of a specified shift over a …
Hbcu Technology Transfer Supply Chair Networks’ Sustainability: Budget Resource Planning Tool Development, Clovia Hamilton
Hbcu Technology Transfer Supply Chair Networks’ Sustainability: Budget Resource Planning Tool Development, Clovia Hamilton
Winthrop Faculty and Staff Publications
This study describes the development of a university technology transfer supply chain network sustainability tool that Historically Black Colleges and Universities (HBCUs) can use to become more self-reliant financially. HBCUs lag behind their peer non-HBCUs because historically they have been under-served and were originally established largely as teaching and blue collar trade schools. Increased involvement in research oriented activities such as technology transfer will likely enable HBCUs to grow into new or stronger research institutions. The literature review revealed several problem areas with non-HBCUs university technology transfer include a resource planning issues. These problem areas for non-HBCUs would be challenging …
An Optimization Model For Operating Room Scheduling To Reduce Blocking Across The Perioperative Process, Amin Abedini, Wei Li, Honghan Ye
An Optimization Model For Operating Room Scheduling To Reduce Blocking Across The Perioperative Process, Amin Abedini, Wei Li, Honghan Ye
Mechanical Engineering Faculty Publications
Operating room (OR) scheduling is important. Because of increasing demand for surgical services, hospitals must provide high quality care more efficiently with limited resources. When constructing the OR schedule, it is necessary to consider the availability of downstream resources, such as intensive care unit (ICU) and post anaesthesia care unit (PACU). The unavailability of downstream resources causes blockings between every two consecutive stages. In this paper we address the master surgical schedule (MSS) problem in order to minimize blockings between two consecutive stages. First, we present a blocking minimization (BM) model for the MSS by using integer programming, based on …
Online Spatio-Temporal Matching In Stochastic And Dynamic Domains, Meghna Lowalekar, Pradeep Varakantham, Patrick Jaillet
Online Spatio-Temporal Matching In Stochastic And Dynamic Domains, Meghna Lowalekar, Pradeep Varakantham, Patrick Jaillet
Research Collection School Of Computing and Information Systems
Spatio-temporal matching of services to customers online is a problem that arises on a large scale in many domains associated with shared transportation (ex: taxis, ride sharing, super shuttles, etc.) and delivery services (ex: food, equipment, clothing, home fuel, etc.). A key characteristic of these problems is that matching of services to customers in one round has a direct impact on the matching of services to customers in the next round. For instance, in the case of taxis, in the second round taxis can only pick up customers closer to the drop off point of the customer from the first …
Modeling Of Healthcare Systems: Past, Current And Future Trends, Amr Arisha
Modeling Of Healthcare Systems: Past, Current And Future Trends, Amr Arisha
Conference papers
Increasing demand for healthcare services, due to changes in demographic shifts and constraints in healthcare funding, make it harder to manage effective, sustainable healthcare systems. Many healthcare modeling exercises have been undertaken with the aim of supporting the decision-making process. This paper reviews all of the 456 articles published by the Winter Simulation Conference over the past 48 years (1967-2015) on the subject of modeling and healthcare system simulation, and analyzes the relative frequency of approaches used. A multi-dimensional taxonomy is applied to encompass the modeling techniques, problem applications and decision levels reported in the articles. One of the most …
Online Portfolio Selection: A Survey, Bin Li, Steven C. H. Hoi
Online Portfolio Selection: A Survey, Bin Li, Steven C. H. Hoi
Research Collection School Of Computing and Information Systems
Online portfolio selection is a fundamental problem in computational finance, which has been extensively studied across several research communities, including finance, statistics, artificial intelligence, machine learning, and data mining. This article aims to provide a comprehensive survey and a structural understanding of online portfolio selection techniques published in the literature. From an online machine learning perspective, we first formulate online portfolio selection as a sequential decision problem, and then we survey a variety of state-of-the-art approaches, which are grouped into several major categories, including benchmarks, Follow-the-Winner approaches, Follow-the-Loser approaches, Pattern-Matching--based approaches, and Meta-Learning Algorithms. In addition to the problem formulation …
A Distributed Consensus Algorithm For Decision Making In Service-Oriented Internet Of Things, Shancang Li, George Oikonomou, Theo Tryfonas, Thomas M. Chen, Li Da Xu
A Distributed Consensus Algorithm For Decision Making In Service-Oriented Internet Of Things, Shancang Li, George Oikonomou, Theo Tryfonas, Thomas M. Chen, Li Da Xu
Information Technology & Decision Sciences Faculty Publications
In a service-oriented Internet of things (IoT) deployment, it is difficult to make consensus decisions for services at different IoT edge nodes where available information might be insufficient or overloaded. Existing statistical methods attempt to resolve the inconsistency, which requires adequate information to make decisions. Distributed consensus decision making (CDM) methods can provide an efficient and reliable means of synthesizing information by using a wider range of information than existing statistical methods. In this paper, we first discuss service composition for the IoT by minimizing the multi-parameter dependent matching value. Subsequently, a cluster-based distributed algorithm is proposed, whereby consensuses are …
A Study On Facility Planning Using Discrete Event Simulation: Case Study Of A Grain Delivery Terminal., Sarah M. Asio
A Study On Facility Planning Using Discrete Event Simulation: Case Study Of A Grain Delivery Terminal., Sarah M. Asio
Department of Industrial and Management Systems Engineering: Dissertations, Theses, and Student Research
The application of traditional approaches to the design of efficient facilities can be tedious and time consuming when uncertainty and a number of constraints exist. Queuing models and mathematical programming techniques are not able to capture the complex interaction between resources, the environment and space constraints for dynamic stochastic processes. In the following study discrete event simulation is applied to the facility planning process for a grain delivery terminal. The discrete event simulation approach has been applied to studies such as capacity planning and facility layout for a gasoline station and evaluating the resource requirements for a manufacturing facility. To …
Optimizing The Rearrangement Process In A Dedicated Warehouse, Hector J. Carlo, German E. Giraldo
Optimizing The Rearrangement Process In A Dedicated Warehouse, Hector J. Carlo, German E. Giraldo
11th IMHRC Proceedings (Milwaukee, Wisconsin. USA – 2010)
Determining the optimal storage assignment for products in a dedicated warehouse has been addressed extensively in the Facility Logistics literature. However, the process of implementing a particular storage assignment given the current location of products has not received much attention in the existing literature. Typically, warehouses use downtime or overtime to remove products from their current location and move them to the suggested location. This work presents the Rearrange-While-Working (RWW) policy to optimize the process of rearranging a dedicated warehouse. The RWW policy seeks to relocate products in a warehouse from the initial arrangement to the optimal arrangement while serving …
Rfid-Enabled Warehouse Optimization: Lessons From Early Adopters In The 3pl Industry, S. F. Wamba, T. R. Coltman, Katina Michael
Rfid-Enabled Warehouse Optimization: Lessons From Early Adopters In The 3pl Industry, S. F. Wamba, T. R. Coltman, Katina Michael
Faculty of Informatics - Papers (Archive)
This paper presents the impact of RFID technology on the picking and shipping processes of one RFID-enabled warehouse in the 3PL industry. The findings from our study confirm initial results from many studies where RFID implementation has been shown to enable business process redesign, improve data quality, real-time data collection and synchronization and enhance system integration. In this study we show that the full potential of RFID technology is dependent upon the involvement of all supply chain members involved in implementation. Moreover, firms considering implementing RFID technology need to take into account their investment in complementary assets such as employee …
Optimizing Product Line Designs: Efficient Methods And Comparisons, Alexandre Belloni, Robert Freund, Matthew Selove, Duncan Simester
Optimizing Product Line Designs: Efficient Methods And Comparisons, Alexandre Belloni, Robert Freund, Matthew Selove, Duncan Simester
Business Faculty Articles and Research
We take advantage of recent advances in optimization methods and computer hardware to identify globally optimal solutions of product line design problems that are too large for complete enumeration. We then use this guarantee of global optimality to benchmark the performance of more practical heuristic methods. We use two sources of data: (1) a conjoint study previously conducted for a real product line design problem, and (2) simulated problems of various sizes. For both data sources, several of the heuristic methods consistently find optimal or near-optimal solutions, including simulated annealing, divide-and-conquer, product-swapping, and genetic algorithms.
Releasing Individually Identifiable Microdata With Privacy Protection Against Stochastic Threat: An Application To Health Information, Robert Garfinkel, Ram Gopal, Steven M. Thompson
Releasing Individually Identifiable Microdata With Privacy Protection Against Stochastic Threat: An Application To Health Information, Robert Garfinkel, Ram Gopal, Steven M. Thompson
Management Faculty Publications
The ability to collect and disseminate individually identifiable microdata is becoming increasingly important in a number of arenas. This is especially true in health care and national security, where this data is considered vital for a number of public health and safety initiatives. In some cases legislation has been used to establish some standards for limiting the collection of and access to such data. However, all such legislative efforts contain many provisions that allow for access to individually identifiable microdata without the consent of the data subject. Furthermore, although legislation is useful in that penalties are levied for violating the …
Automated Manpower Rostering: Techniques And Experience, C. M. Khoong, Hoong Chuin Lau, L. W. Chew
Automated Manpower Rostering: Techniques And Experience, C. M. Khoong, Hoong Chuin Lau, L. W. Chew
Research Collection School Of Computing and Information Systems
We present ROMAN, a comprehensive, generic manpower rostering toolkit that successfully handles a wide spectrum of work policies found in service organizations. We review the use of various techniques and methodologies in the toolkit that contribute to its robustness and efficiency, and relate experience gained in addressing manpower rostering problems in industry.
Bicriterion Decision Making Under Uncertainty: An Interactive Approach, Gary Klein, Herbert Moskowitz, A. Ravindran
Bicriterion Decision Making Under Uncertainty: An Interactive Approach, Gary Klein, Herbert Moskowitz, A. Ravindran
Historical Working Papers
Theory of mutual efficiency is defined and explored as it applies to multiple outcome, multiple criteria problems in decision-making.
Solution Strategies And Algorithm Behavior In Large-Scale Network Codes, Richard S. Barr
Solution Strategies And Algorithm Behavior In Large-Scale Network Codes, Richard S. Barr
Historical Working Papers
No abstract provided.
Budgeting Capital For R & D: An Application Of Option Pricing, John W. Kensinger
Budgeting Capital For R & D: An Application Of Option Pricing, John W. Kensinger
Historical Working Papers
This paper presents the insight that R&R investments are "natural" options, and examines the extent to which they can be valued using currently available option pricing models. The nature of the industrial research effort determines whether the appropriate model is based on a diffusion process or a jump process. The option model based on the former is sufficiently developed to satisfactorily deal with the direct benefits of R&D, while the model base on the latter presents several problems. Furthermore, indirect benefits are not captured in these models. These applications and shortcomings are examined in detail in the hope of not …