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Full-Text Articles in Physical Sciences and Mathematics
Decentralized Decision Support For An Agent Population In Dynamic And Uncertain Domains, Pradeep Reddy Varakantham, Shih-Fen Cheng, Thi Duong Nguyen
Decentralized Decision Support For An Agent Population In Dynamic And Uncertain Domains, Pradeep Reddy Varakantham, Shih-Fen Cheng, Thi Duong Nguyen
Shih-Fen CHENG
This research is motivated by problems in urban transportation and labor mobility, where the agent flow is dynamic, non-deterministic and on a large scale. In such domains, even though the individual agents do not have an identity of their own and do not explicitly impact other agents, they have implicit interactions with other agents. While there has been much research in handling such implicit effects, it has primarily assumed controlled movements of agents in static environments. We address the issue of decision support for individual agents having involuntary movements in dynamic environments . For instance, in a taxi fleet serving …
Distributing Complementary Resources Across Multiple Periods With Stochastic Demand, Shih-Fen Cheng, John Tajan, Hoong Chuin Lau
Distributing Complementary Resources Across Multiple Periods With Stochastic Demand, Shih-Fen Cheng, John Tajan, Hoong Chuin Lau
Shih-Fen CHENG
In this paper, we evaluate whether the robustness of a market mechanism that allocates complementary resources could be improved through the aggregation of time periods in which resources are consumed. In particular, we study a multi-round combinatorial auction that is built on a general equilibrium framework. We adopt the general equilibrium framework and the particular combinatorial auction design from the literature, and we investigate the benefits and the limitation of time-period aggregation when demand-side uncertainties are introduced. By using simulation experiments, we show that under stochastic conditions the performance variation of the process decreases as the time frame length (time …
Would Price Limits Have Made Any Difference To The 'Flash Crash' On May 6, 2010, Wing Bernard Lee, Shih-Fen Cheng, Annie Koh
Would Price Limits Have Made Any Difference To The 'Flash Crash' On May 6, 2010, Wing Bernard Lee, Shih-Fen Cheng, Annie Koh
Shih-Fen CHENG
On May 6, 2010, the U.S. equity markets experienced a brief but highly unusual drop in prices across a number of stocks and indices. The Dow Jones Industrial Average (see Figure 1) fell by approximately 9% in a matter of minutes, and several stocks were traded down sharply before recovering a short time later. The authors contend that the events of May 6, 2010 exhibit patterns consistent with the type of "flash crash" observed in their earlier study (2010). This paper describes the results of nine different simulations created by using a large-scale computer model to reconstruct the critical elements …
Technology Investment Decision-Making Under Uncertainty: The Case Of Mobile Payment Systems, Robert J. Kauffman, Jun Liu, Dan Ma
Technology Investment Decision-Making Under Uncertainty: The Case Of Mobile Payment Systems, Robert J. Kauffman, Jun Liu, Dan Ma
Research Collection School Of Computing and Information Systems
The recent launch of Google Wallet has brought the issue of technology solutions in mobile payments (m-payments) to the forefront. In deciding whether and when to adopt m-payments, senior managers in banks are concerned about uncertainties regarding future market conditions, technology standards, and consumer and merchant responses, especially their willingness to adopt. This study applies economic theory and modeling for decision-making under uncertainty to bank investments in m-payment systems technology. We assess the projected benefits and costs of investment as a continuous-time stochastic process to determine optimal investment timing. We find that the value of waiting to adopt jumps when …