In the literature, there exist many variations of machining economics problem in terms of modelling approaches and solution methodologies. However most of the existing studies focus on the single machining operation which is seldom in practice. On the other hand, tool management approaches at the system level fail to relate the tooling issues to the machining conditions, and ignore the tool ava...

A large number of network applications require a particular Quality of Service (QoS), that can be provided through proper network resource allocation. Furthermore, certain applications (multimedia oriented) may require guarantees of resource availability for predictable QoS. This paper introduces a distributed multi-market approach to network resource allocation. In this approach link bandwidth...

We consider the allocation of Virtual Arrays (VAs) in a Heterogeneous Disk Array (HDA). Each VA holds groups of related objects and datasets such as files, relational tables, which has similar performance and availability characteristics. We evaluate single-pass data allocation methods for HDA using a synthetic stream of allocation requests, where each VA is characterized by its RAID level, dis...

An exact approach is developed to determine the optimum machining conditions and tool allocation decisions simultaneously to minimize the total production cost on a CNC turning machine. There are multiple machining operations and we consider a set of alternative cutting tool types for each operation. The existing tool management approaches at the system level fail to relate the tooling issues t...

In the system requirements phase, the non-functional requirements (NFR) are often captured only generically at a fairly high level, and they do not yet include the levels of detail necessary for the system engineers to allocate them as specific functionalities to be handled either by the software or the hardware, or a specific combination of the two. The European ECSS series of standards for th...

We discuss the development of dynamic factor models for multivariate nancial time series, and the incorporation of stochastic volatility components for latent factor processes. Bayesian inference and computation is developed and explored in a study of the dynamic factor structure of daily spot exchange rates for a selection of international currencies. The models are direct generalisations of u...

This paper presents a new mathematical model of a redundancy allocation problem with mixing components redundant in subsystems of a series-parallel system when the redundancy strategy can be chosen for individual subsystems. In practice both active and coldstandby redundancies are used within a particular system design, and the choice of the redundancy strategy becomes an additional decision va...

Water markets are increasingly being relied upon by international institutions and national governments to facilitate a reallocation of water from inefficient low value users to efficient high value users, and from rural to urban users, while minimizing the socio-economic and community impact of such reallocations within rural communities. This is a problem in both developed and developing coun...

We document a set of time use patterns in both time series and cross sections. To explain these facts, we propose and estimate a model of time allocation that emphasizes the role of home production technology. We find it necessary to consider both labor-augmenting technology and total factor productivity in home production. Based on the estimated model, we study the effects of proportional tax ...