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作者:Chen, Mingliu; Sun, Peng; Xiao, Yongbo
作者单位:Duke University; Tsinghua University
摘要:Consider a setting in which a principal induces effort from an agent to reduce the arrival rate of a Poisson process of adverse events. The effort is costly to the agent and unobservable to the principal unless the principal is monitoring the agent. Monitoring ensures effort but is costly to the principal. The optimal contract involves monetary payments and monitoring sessions that depend on past arrival times. We formulate the problem as a stochastic optimal control model and solve the proble...
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作者:Boutilier, Justin J.; Chan, Timothy C. Y.
作者单位:University of Wisconsin System; University of Wisconsin Madison; University of Toronto
摘要:The lack of emergency medical transportation is viewed as the main barrier to the access and availability of emergency medical care in low- and middle-income countries (LMICs). In this paper, we present a robust optimization approach to optimize both the location and routing of emergency response vehicles, accounting for uncertainty in travel times and spatial demand characteristic of LMICs. We traveled to Dhaka, Bangladesh, the sixth largest and third most densely populated city in the world,...
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作者:Katehakis, Michael N.; Yang, Jian; Zhou, Tingting
作者单位:Rutgers University System; Rutgers University New Brunswick; Rutgers University Newark; College of Charleston
摘要:We study adaptive policies that handle dynamic inventory and price controls when the random demand for discrete nonperishable items is unknown. Pure inventory control is achieved by targeting newsvendor ordering quantities that correspond to empirical demand distributions learned over time. On this basis we conduct the more complex joint inventory-price control, where demand-affecting prices await to be evaluated as well. We identify policies that strive to balance between exploration and expl...
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作者:Kettunen, Janne; Lejeune, Miguel A.
作者单位:George Washington University
摘要:The periodic selection of new product development (NPD) projects is a crucial operational decision. The main goals of start-up companies in NPD are to attain a reliable return level and deliver this return level fast. Achieving these goals is complicated because of uncertainties in projects' returns and durations. We develop new disjunctive stochastic programming models that capture the above-mentioned NPD goals. The first stochastic model is static, representing the traditional waterfall prod...
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作者:Sainathan, Arvind
作者单位:Nanyang Technological University
摘要:Time is often used as a differentiating factor in several service operations contexts by service providers (SPs) who prioritize their customers. We use a three-stage game to investigate the competition between two SPs providing service with relatively low utilization to impatient and patient customers. In the first stage, the SPs decide whether to offer single service in which customers are seen on a first-come-first-serve basis or differentiated service with prioritization. In the second stag...
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作者:Wang, Kai; Jacquillat, Alexandre
作者单位:Massachusetts Institute of Technology (MIT)
摘要:Air traffic management measures comprise tactical operating procedures to minimize delay costs and strategic scheduling interventions to control overcapacity scheduling. Although interdependent, these problems have been treated in isolation. This paper proposes an integrated model of scheduling and operations in airport networks that jointly optimizes scheduling interventions and ground-holding operations across airports networks under operating uncertainty. It is formulated as a two-stage sto...
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作者:Shah, Virag; Gulikers, Lennart; Massoulie, Laurent; Vojnovic, Milan
作者单位:Uber Technologies, Inc.; University of London; London School Economics & Political Science
摘要:A matching in a two-sided market often incurs an externality: a matched resource may become unavailable to the other side of the market, at least for a while. This is especially an issue in online platforms involving human experts, as the expert resources are often scarce. The efficient utilization of experts in these platforms is made challenging by the fact that the information available about the parties involved is usually limited. To address this challenge, we develop a model of a task-ex...
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作者:Rivera Letelier, Orlando; Espinoza, Daniel; Goycoolea, Marcos; Moreno, Eduardo; Munoz, Gonzalo
作者单位:Universidad Adolfo Ibanez; Alphabet Inc.; Google Incorporated; Universidad Adolfo Ibanez; Universidad Adolfo Ibanez; Universidad de O'Higgins
摘要:Given a discretized representation of an ore body known as a block model, the open pit mining production scheduling problem that we consider consists of defining which blocks to extract, when to extract them, and how or whether to process them, in such a way as to comply with operational constraints and maximize net present value. Although it has been established that this problem can be modeled with mixed-integer programming, the number of blocks used to represent real-world mines (millions) ...
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作者:Chen, Boxiao; Chao, Xiuli; Wang, Yining
作者单位:University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; University of Michigan System; University of Michigan; State University System of Florida; University of Florida
摘要:A firm makes pricing and inventory replenishment decisions for a product over T periods to maximize its expected total profit. Demand is random and price sensitive, and unsatisfied demands are lost and unobservable (censored demand). The firm knows the demand process up to some parameters and needs to learn them through pricing and inventory experimentation. However, because of business constraints, the firm is prevented from making frequent price changes, leading to correlated and dependent s...
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作者:Yu, Yimin; Kong, Xiangyin
作者单位:City University of Hong Kong; Chinese Academy of Sciences; University of Science & Technology of China, CAS
摘要:We consider incentive compensation where the firm has ambiguity on the effort-contingent output distribution: The parameters of the output probability distribution are in an ellipsoidal uncertainty set. The firm evaluates any contract by its worst-case performance over all possible parameters in the uncertainty set. Similarly, the incentive compatible condition for the agent must hold for all possible parameters in the uncertainty set. The firm is financially risk neutral and the agent has lim...