Airlines today use robust scheduling to plan ahead for unforeseeable disruptions. We empirically examine three common robust scheduling practices: flexibility to swap aircraft, flexibility to swap gates, and scheduled downtime. To do so, we characterize efficient operating practices in the airline industry by estimating a multiple-outcome, multiple-input production frontier. Estimates of how ro...

This paper presents a method to analyze a broad range of decision-making organizational forms that lie between the hierarchy and the polyarchy. The method predicts Type I and II errors, speed, cost, and proportion of good projects approved for each organizational form. The model has far reaching implications, as all organizations have to decide how centralized or decentralized they are going to...

We study the efficient frontier problem of maximizing the expected utility of terminal wealth and minimizing the conditional VaR of the utility loss. We establish the existence of the optimal solution with the dual analysis and find the optimal value with the sequential penalty function and viscosity solution method.

Growing social concerns over the environmental externalities associated with business activities are pushing firms to identify activities that create economic value with less environmental impact and to become more eco-efficient. Over the past two decades, researchers have increasingly used frontier efficiency models to evaluate productive efficiency in the presence of undesirable outputs, such...

Frontier-based exploration method are known to be efficient for multi-robot exploration systems. In this paper, we propose a novel, computationally inexpensive, frontier allocation method favoring a well balanced spatial distribution of robots in the environment. It is based on the computation of a position criteria. The position of a robot towards a frontier is defined by the number of robots ...

Despite the volume of research conducted on efficient frontiers, in many cases it is still not the easiest thing to compute a mean-variance (MV) efficient frontier even when all constraints are linear. This is ∗Corresponding author [email protected]

An efficient dye sensitized solar cell (DSSC) is one possible solution to meet the world's rapidly increasing energy demands and associated climate challenges. This requires inexpensive and stable dyes with well-positioned frontier energy levels for maximal solar absorption, efficient charge separation, and high output voltage. Here we demonstrate an extensive computational screening of zinc po...

Abstract—Modern Portfolio Theory (MPT) according to Markowitz states that investors form mean-variance efficient portfolios which maximizes their utility. Markowitz proposed the standard deviation as a simple measure for portfolio risk and the lower semi-variance as the only risk measure of interest to rational investors. This paper uses a third volatility estimator based on intraday data and c...

During the last four decades Data Envelopment Analysis DEA has attracted considerable attention in the OR community. Using DEA, the efficiency frontier is constructed based on assumptions concerning the production possibility set rather than a priori defining a functional relationship between inputs and outputs. In this contribution, we propose an algorithm to visualize the efficiency surface i...

  In this paper imprecise target models has been proposed to investigate the relation between imprecise data envelopment analysis (IDEA) and mini-max reference point formulations. Through these models, the decision makers' preferences are involved in interactive trade-off analysis procedures in multiple objective linear programming with imprecise data. In addition, the gradient projection type...