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Full-Text Articles in Operations Research, Systems Engineering and Industrial Engineering
A Pomdp Model For Guiding Taxi Cruising In A Congested Urban City, Lucas Agussurja, Hoong Chuin Lau
A Pomdp Model For Guiding Taxi Cruising In A Congested Urban City, Lucas Agussurja, Hoong Chuin Lau
Research Collection School Of Computing and Information Systems
We consider a partially observable Markov decision process (POMDP) model for improving a taxi agent cruising decision in a congested urban city. Using real-world data provided by a large taxi company in Singapore as a guide, we derive the state transition function of the POMDP. Specifically, we model the cruising behavior of the drivers as continuous-time Markov chains. We then apply dynamic programming algorithm for finding the optimal policy of the driver agent. Using a simulation, we show that this policy is significantly better than a greedy policy in congested road network.
Delayed-Bang Approach Towards More Sustainable Critical Infrastructure Risk Management, C. Ariel Pinto, Michael K. Mcshane, Abhishek S. Pathak
Delayed-Bang Approach Towards More Sustainable Critical Infrastructure Risk Management, C. Ariel Pinto, Michael K. Mcshane, Abhishek S. Pathak
Finance Faculty Publications
This article describes the Delayed Bang Approach for determining the value of risk management alternatives in critical infrastructure security. The discussion includes (1) the need for sustainable risk management (2) the importance of time valuation in evaluating competing loss prevention and loss reduction alternatives, (3) the convergence of deterministic engineering economics, survivability analysis, and probabilistic analysis, and (4) hypothetical examples of the Delayed-Bang Approach and significance towards more sustainable risk management.