In this paper optimal bidding strategy problem modeled as a stochastic optimization problem and solved using Genetic Algorithm (GA). In an open electricity market environment, maximizing profit by suppliers is possible through strategic bidding. Because of the gaming by participants (power suppliers and large consumers) in an open electricity market, this is more an oligopoly than a competitive...

All-optical WDM networks are fast becoming the choice for future wide-area backbone networks. In this paper, we investigate the online RWA (Routing and Wavelength Assignment) problem for incremental connection requests in all-optical Wavelength-Division-Multiplexed networks, with the objective of maximizing the profit that can be made. Specifically, each connection request between a pair of nod...

In this paper, we develop an optimization model for the economic design of repetitive sampling plan in the presence of two markets. The process under consideration produces a product with a normally distributed quality characteristic with unknown mean and known variance. The quality characteristic has a lower specification limit. The quality of the product is controlled via lot-by-lot acceptanc...

Unlicensed spectrum has been viewed as a way to increase competition in wireless access and promote innovation in new technologies and business models. However, several recent papers have shown that the openness of such spectrum can also lead to it becoming over congested when used by competing wireless service providers (SPs). This in turn can result in the SPs making no profit and may deter t...

In our model, two profit-maximizing sellers sell a homogeneous good to Bayesian, riskneutral buyers in an online comparison shopping service. Buyers use a reputation system to update their beliefs about sellers. Buyers purchase from the seller that maximizes the buyer’s expected utility from the purchase. We find that the seller’s profit depends on the distribution of buyer beliefs. A degenerat...