Linear programming is an <span lang="EN-US">operational research technique widely used to identify and optimize management decision. Its application encourages businesses increase their output. Instead, however, many organizations most commonly adopt the trial-and-error method. As such, companies find it challenging distribute scarce resources in a manner that maximizes profit. This study...

Abstract In social networks, there exist many kinds of groups in which people may have the same interests, hobbies, or political orientation. Sometimes, group decisions are made by simply majority, means that most users this reach an agreement, such as US Presidential Elections. A is called activated if $$\beta$$ β</mml:m...

Profit maximization is difficult. Sophisticated and experienced managers often disagree about which action is most likely to maximize profits for a given firm. Economic models of profit maximization, on the other hand, are—in general—easy to solve. Well-trained economists can readily discern the action which maximizes the firm’s objective function. The global maximum is unique and achievable be...

Managing shipping vessel profitability is a central problem in marine transportation. We consider two commonly used types of vessels—“liners” (ships whose routes are fixed in advance) and “trampers” (ships for which future route components are selected based on available shipping jobs)—and formulate a vessel profit maximization problem as a stochastic dynamic program. For liner vessels, the pro...

The resource-based view on firm diversification, subsequent to Penrose (1959), has focused primarily on the fungibility of resources across domains. We make a clear analytical distinction between scale-free capabilities and those that are subject to opportunity costs and must be allocated to one use or another, thereby shifting the discourse back to Penrose’s (1959) original argument regarding ...