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作者：Gong, Xiting; Wang, Tong
作者单位：Chinese University of Hong Kong; Shanghai Jiao Tong University
摘要：In this paper, we establish two preservation results of additive convexity for a class of optimal transformation problems and a class of optimal disposal problems. For both classes of problems, there are multiple resources; our results show that if these resources have different priorities to be transformed/disposed under the optimal policy, then the additive convexity and bounded monotonicity of the objective function are preserved to the value function after optimization. A key observation i...
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作者：Wei, Lai; Jasin, Stefanus; Xin, Linwei
作者单位：Boston College; University of Michigan System; University of Michigan; University of Chicago
摘要：Service-level constraint is often used as a metric to directly control the quality of service (e.g., managing the probability of stockout) in practice. Many inventory problems with service-level constraints are often difficult to solve and are typically approximated by deterministic formulations. This raises an important question regarding the quality of such an approach. To shed light on this question, in this paper, we consider two simplified yet fundamental inventory models (with backorder ...
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作者：Abdallah, Tarek; Asadpour, Arash; Reed, Josh
作者单位：Northwestern University; City University of New York (CUNY) System; Baruch College (CUNY); New York University
摘要：Bundle-size pricing (BSP) is a multidimensional selling mechanism where the firm prices the size of the bundle rather than the different possible combinations of bundles. In BSP, the firm offers the customer a menu of different sizes and prices. The customer then chooses the size that maximizes her surplus and customizes her bundle given her chosen size. Although BSP is commonly used across several industries, little is known about the optimal BSP policy in terms of sizes and prices, along wit...
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作者：Aflaki, Arian; Swinney, Robert
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; Duke University
摘要：We study the value of inventory integration (or pooling) for a firm selling a seasonal good over two periods: in the first period the firm charges a high price, and in the second period the firm charges a low price to clear remaining inventory. Consumers are rational and decide when to visit the firm based on the price of the product and its anticipated availability. We show that integration-which combines inventory from distinct selling channels or geographic regions, for example, online and ...
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作者：Wang, Ruxian
作者单位：Johns Hopkins University
摘要：Market size, measured by the number of people who are interested in products from the same category, may be largely influenced by assortment planning and pricing decisions. This effect is referred to as market expansion. In this paper, I incorporate the market expansion effects into consumer choice models and investigate various operations problems. In particular, I take the widely used multinomial logit model as a showcase to examine the market expansion effects on assortment planning and pri...
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作者：Das, Bikramjit; Dhara, Anulekha; Natarajan, Karthik
作者单位：Singapore University of Technology & Design
摘要：Since the seminal work of Scarf (A min-max solution of an inventory problem) in 1958 on the newsvendor problem with ambiguity in the demand distribution, there has been a growing interest in the study of the distributionally robust newsvendor problem. The model is criticized at times for being conservative because the worst-case distribution is discrete with a few support points. However, it is the order quantity prescribed by the model that is of practical relevance. Interestingly, the order ...
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作者：Kovacova, Gabriela; Rudloff, Birgit
作者单位：Vienna University of Economics & Business
摘要：Choosing a portfolio of risky assets over time that maximizes the expected return at the same time as it minimizes portfolio risk is a classical problem in mathematical finance and is referred to as the dynamicMarkowitz problem (when the risk is measured by variance) or, more generally, the dynamic mean-risk problem. In most of the literature, the mean-risk problem is scalarized, and it is well known that this scalarized problem does not satisfy the (scalar) Bellman's principle. Thus, the clas...
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作者：Bertsimas, Dimitris; Ng, Yee Sian; Yan, Julia
作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
摘要：Mass transit remains the most efficient way to service a densely packed commuter population. However, reliability issues and increasing competition in the transportation space have led to declining ridership across the United States, and transit agencies must also operate under tight budget constraints. Recent attempts at using bus network redesign to improve ridership have attracted attention from various transit authorities. However, the analysis seems to rely on ad hoc methods, for example,...
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作者：Adelmann, Maximilian; Fernandez-Arjona, Lucio; Mayer, Janos; Schmedders, Karl
作者单位：University of Zurich; International Institute for Management Development (IMD)
摘要：Replicating portfolios have emerged as an important tool in the life insurance industry, used for the valuation of companies' liabilities. This paper describes the replicating portfolio (RP) model used to approximate life insurance liabilities in a large global insurance company. We describe the challenges presented by the latest solvency regimes in Europe and how the RP model enables this company to comply with the Swiss Solvency Test. The model minimizes the L-1 error between the discounted ...
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作者：Rios, Ignacio; Larroucau, Tomas; Parra, Giorgiogiulio; Cominetti, Roberto
作者单位：University of Texas System; University of Texas Dallas; University of Pennsylvania; Universidad de Chile; Universidad Adolfo Ibanez
摘要：In this paper we present the design and implementation of a new system to solve the Chilean college admissions problem. We develop an algorithm that obtains all applicant/program pairs that can be part of a stable allocation when preferences are not strict and when all students tied in the last seat of a program (if any) must be allocated. We use this algorithm to identify which mechanism was used in the past to perform the allocation, and we propose a new method to incorporate the affirmative...
