Farmers' attitudes to risk are viewed within a focus-loss framework. Sets of indifference curves are constructed for five farmers who are willing to forgo expected income for increases in a probabilisticly defined...
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Farmers' attitudes to risk are viewed within a focus-loss framework. Sets of indifference curves are constructed for five farmers who are willing to forgo expected income for increases in a probabilisticly defined minimum income. Each set of curves is compared with the respective farmer's utility function as derived by the modified yon Neumann-Morgenstern method. [ABSTRACT FROM AUTHOR]
A preference order dynamic programming model proposed in the literature for solving stochastic knapsack problems is shown to be somewhat limited from both the methodological and computational points of view. A counter...
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A preference order dynamic programming model proposed in the literature for solving stochastic knapsack problems is shown to be somewhat limited from both the methodological and computational points of view. A counterexample is presented contradicting the optimality of a procedure designed for normal variates.
The selection of capital projects in a production environment is complicated by the existence of multiple and conflicting goals. Typical production objectives for cost minimization often conflict with goals for qualit...
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The selection of capital projects in a production environment is complicated by the existence of multiple and conflicting goals. Typical production objectives for cost minimization often conflict with goals for quality, environmental standards, labor relations, etc. This problem of project selection is further complicated by the uncertainty inherent in product demand, the key factor in production management. This paper approaches these complications by employing an integer goal programming (to compensate for multiple conflicting objectives) with chance-constrained capabilities (to reflect uncertainty in product demand). The approach is demonstrated via an in-depth case example of a production problem.
Rapid advances in cloud computing have made the vision of utility computing a near reality, but only in certain domains. For science and engineering parallel or distributed applications, on-demand access to resources ...
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Rapid advances in cloud computing have made the vision of utility computing a near reality, but only in certain domains. For science and engineering parallel or distributed applications, on-demand access to resources within grids and clouds is hampered by two major factors: communication performance and paradigm mismatch issues. We propose a framework for addressing the latter aspect via software adaptations that attempt to reconcile model and interface differences between application needs and resource platforms. Such matching can greatly enhance flexibility in choice of execution platforms a key characteristic of utility computing even though they may not be a natural fit or may incur some performance loss. Our design philosophy, middleware components, and experiences from a cross-paradigm experiment are described.
In this paper, we develop conditions for the Takayama-Judge spatial equilibrium model to collapse into the classical Cournot model. In the case of heterogeneous demand and cost functions, the linear complementarity pr...
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In this paper, we develop conditions for the Takayama-Judge spatial equilibrium model to collapse into the classical Cournot model. In the case of heterogeneous demand and cost functions, the linear complementarity programming formulation is proposed to model the spatial Cournot model. Lastly, we implement the spatial equilibrium Cournot model to the US coal market and compare its performance to that of the original Takayama-Judge model. To the best of our knowledge, this is the only spatial equilibrium Cournot model estimated and implemented. (C) 2002 Elsevier Science B.V. All rights reserved.
There is a need for predictive and aggregate output response models suitable for answering questions about short-term changes in agricultural output. In this study, short-term milk output projections for Southeast Pen...
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There is a need for predictive and aggregate output response models suitable for answering questions about short-term changes in agricultural output. In this study, short-term milk output projections for Southeast Pennsylvania between 1961 and 1965 were derived with a linear programming, a recursive programming, and a regression model. The predictiveness of each model is evaluated by comparing its estimate of aggregate milk production with reported output for target years. Differences are expressed as percentage error from reported production. [ABSTRACT FROM AUTHOR]
A study of two applications programmed using three models of varying complexity reveals that implicit management of locality can produce code with performance comparable to code generated from explicit management of l...
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A study of two applications programmed using three models of varying complexity reveals that implicit management of locality can produce code with performance comparable to code generated from explicit management of locality.
A combined traffic distribution-assignment model is formulated as a mathematical program, based on the equilibrium traffic distribution model and a linear programming assignment model. The behavior of the model using ...
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A combined traffic distribution-assignment model is formulated as a mathematical program, based on the equilibrium traffic distribution model and a linear programming assignment model. The behavior of the model using the Dantzig-Wolfe decomposition principle is investigated and illustrated by means of an example. A number of areas for extension are indicated and a alternative formulation that has certain advantages is also given.
Although there are certainly revolutionary advances in technology, their effect accumulates slowly and the ultimate impact often contradicts the initial prognostications.
Although there are certainly revolutionary advances in technology, their effect accumulates slowly and the ultimate impact often contradicts the initial prognostications.
Explores the problems with the linear programming (LP) model used by Lee, Brown and Lovejoy in their paper which compared the mean-variance and stochastic efficiency criteria as predictors of the adoption of reduced t...
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Explores the problems with the linear programming (LP) model used by Lee, Brown and Lovejoy in their paper which compared the mean-variance and stochastic efficiency criteria as predictors of the adoption of reduced tillage. Difficulties with using a single-period LP model when farmers are making longer-term decisions; Integration of production and investment decisions over the planning horizon; Information on a multiperiod LP model as an alternative to the proposed LP model.
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