TSSO is a recently proposed search algorithm based on the modified nugget effect kriging metamodel, which solves unconstrained stochastic simulation optimization problems with heterogeneous variances, when the total simulation budget is fixed, through a budget allocation followed by a two–stage sequential procedure. Despite the efficiency and performance of TSSO, no analysis of the structural p...

Educational Achievement and the Allocation of School Resources The school resources – educational outcomes debate has focused almost exclusively on spending levels. We extend this by analysing the relationship between student achievement and schools’ budget allocation decisions using panel data. Per-pupil expenditure has only a modest relationship with improvement in students’ standardised test...

Multiagent resource allocation defines the issue of having to distribute a set of resources among a set of agents, aiming at a fair and efficient allocation. Resource allocation procedures can be evaluated with regard to properties such as budget balance and strategy-proofness. Designing a budget-balanced and strategy-proof allocation procedure that always provides a fair (namely, envyfree) and...

Sex allocation theory applied to hermaphrodites assumes that there is a trade off between the allocation of resources to male and female functions, within a fixed reproductive resource budget. Charnov's classic resource allocation model predicts a more female-biased sex allocation when competition among different sperm donors is low due to diminishing fitness returns for male investment. By man...

This paper incorporates two-stage education in a political economy model to study the endogenous determination of public budget allocation across education stages. With hierarchical education, individuals’ benefits from higher education depend on their qualifications, and congestion arises when higher enrollment lowers schooling quality. In less developed economies, the top class has dominant p...

In this paper, we study the problem of selecting a system that has the best performance or selecting one of the best systems when the objective function is the expected performance of a complex stochastic system. The focus here is on a huge size but finite feasible solution set, that is not necessarily well structured. We consider the use of the ordinal optimization technique that concerns with...

In this paper we attempt to introduce dynamics into the theory of cooperative games. A solution of the game is reached through an allocation process. At each stage of the allocation process of a cooperative game a budget of fixed size is distributed among the players. In the first part of this note we study a type of process that, at any stage, endows the budget to a player whose contribution t...