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Operations Research, Systems Engineering and Industrial Engineering Commons™
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Articles 1 - 4 of 4
Full-Text Articles in Operations Research, Systems Engineering and Industrial Engineering
Analysis Of Intangible Factors In Waste Minimization Projects, Halvard E. Nystrom, William Ralph Kehr
Analysis Of Intangible Factors In Waste Minimization Projects, Halvard E. Nystrom, William Ralph Kehr
Engineering Management and Systems Engineering Faculty Research & Creative Works
Continual population growth and rising standards of living that accelerate the consumption of limited resources, are forcing society to encourage conservation of these resources. These resources not only include raw material, but also the areas to dispose of the wastes. As a result, communities are driving industries towards waste minimization by limiting waste generation and landfill availability. Firms'' environmentally friendly strategies can gain competitive advantage by leading in environmental practices. This advantage emanates from the reduction of risk of environmental regulatory overreaction, as well as improved asset utilization and landfill utilization. However, these intangible benefits are difficult to identify and …
Exercising Real Unit Operational Options Under Price Uncertainty, Chung-Li Tseng
Exercising Real Unit Operational Options Under Price Uncertainty, Chung-Li Tseng
Engineering Management and Systems Engineering Faculty Research & Creative Works
In this paper, we use the real options framework to value the operation flexibility of a power plant. The power plant operation is formulated as a multi-stage stochastic problem. We assume that there are hourly spot markets for both electricity and the fuel used by the generator, and that their prices follow some Ito processes. At each hour, the power plant operator must decide whether or not to run the unit so as to maximize expected profit. However, the unit operation is subject to decision lead times and minimum uptime and downtime constraints, so the commitment decision must take into …
Strategy Planning For Technological Discontinuities In A Changing Regulatory Environment, William Ralph Kehr, Halvard E. Nystrom
Strategy Planning For Technological Discontinuities In A Changing Regulatory Environment, William Ralph Kehr, Halvard E. Nystrom
Engineering Management and Systems Engineering Faculty Research & Creative Works
This paper describes an approach to the analysis of publicly available financial data for individual industries. These methods enable the analyst to assess past practices and the historical rate of technological diffusion during the transition period of discontinuous technological change. This assessment can provide a basis of comparison for current changes in their industry. These methods are applied to small rural telephone companies during the period of 1960 to 1996. Annual data is presented detailing the change from aerial distribution cable to buried cable by the roughly 600 rural telephone companies financed through loans from the Rural Utilities Services, a …
Simple Ensemble-Averaging Model Based On Generalized Regression Neural Network In Financial Forecasting Problems, Cihan H. Dagli, Parinya Disorntetiwat
Simple Ensemble-Averaging Model Based On Generalized Regression Neural Network In Financial Forecasting Problems, Cihan H. Dagli, Parinya Disorntetiwat
Engineering Management and Systems Engineering Faculty Research & Creative Works
Introduces an ensemble-averaging model based on a GRNN (generalized regression neural network) for financial forecasting. The model trains all input individually using GRNNs and uses a simple ensemble-averaging committee machine to improve the accuracy performance. In a financial problem, there are many different factors that can effect the asset price movement at different times. An experiment is implemented in two different data sets, S&P 500 index and currency exchange rate. The predictive abilities of the model are evaluated on the basis of root mean squared error, standard deviation and percent direction correctness. The study shows a promising result of the …