The Location Model with Risk Pooling (LRMP) seeks to locate distribution centers to minimize the sum of fixed location costs, transportation costs, and inventory costs. The risk-pooling effects of consolidating inventory sites are explicitly handled in the location model. In this paper, we present a stochastic version of the LMRP (SLMRP) that optimizes location, inventory, and allocation decisi...

this paper presents a fault location technique for transmission lines with minimum current measurement. this algorithm investigates proper current ratios for fault location problem based on thevenin theory in faulty power networks and calculation of short circuit currents in each branch. these current ratios are extracted regarding lowest sensitivity on thevenin impedance variations of the netw...

Meyer (1987) extended the theory of mean-variance criterion to include the comparison among distributions that differ only by location and scale parameters and to include general utility functions with only convexity or concavity restrictions. In this paper, we make some comments on Meyer’s paper and extend the results from Tobin (1958) that the indifference curve is convex upwards for risk ave...

Orienteering problems (OPs) are a variant of the well-known prize-collecting traveling salesman problem, where the salesman needs to choose a subset of cities to visit within a given deadline. OPs and their extensions with stochastic travel times (SOPs) have been used to model vehicle routing problems and tourist trip design problems. However, they suffer from two limitations – travel times bet...

In this paper, dynamic games for a class of infinite horizon for nonlinear stochastic system governed by Itô differential equation are investigated. Particularly, Pareto and Nash strategies are both discussed. After defining the equilibrium condition, the conditions for the existence of the strategy sets are given by means of solvability of cross-coupled Hamilton-Jacobi-Bellman equations (HJBEs...

This paper reviews some current work on routing in loss and queueing networks. We describe two classes of bound on the performance of any dynamic routing scheme, together with some open questions concerning whether the bounds can be approached under certain limiting regimes. The rst class of bound is particularly appropriate for networks in heavy traac, where the key feature of a good routing s...

Pickup and delivery problems (PDPs), in which objects or people have to be transported between specific locations, are among the most common combinatorial problems in real-world operations. A widely-encountered type of PDP is the Stacker Crane Problem (SCP), where each commodity/customer is associated with a pickup location and a delivery location, and the objective is to find a minimum-length ...

  The optimal harvesting policy is calculated as a function of the entering stock, the price state, the harvesting cost, and the rate of interest in the capital market. In order to determine the optimal harvest schedule, the growth function and stumpage price process are estimated for the Swedish mixed species forests. The stumpage price is assumed to follow a stochastic Markov process. A stoch...

In this paper, to cope with the stochastic dynamic (or multi-period) problem, two new quadratic assignment-based mathematical models corresponding to the dynamic and static approaches are developed. The product demands are presumed to be dependent uncertain variables with normal distribution having known expectation, variance, and covariance that change from one period to the next one, randomly...

We consider an asset-liability management (ALM) problem for a defined benefit pension fund (PF). The PF manager is assumed to follow a maximal fund valuation problem facing an extended set of risk factors:  due to the longevity of the    PF members, the inflation affecting salaries in real terms and future incomes, interest rates and market factors affecting jointly the PF liability and asset p...