Search results for "Pareto"
showing 10 items of 126 documents
Limit order placement as an utility maximization problem and the origin of power law distribution of limit order prices
2006
I consider the problem of the optimal limit order price of a financial asset in the framework of the maximization of the utility function of the investor. The analytical solution of the problem gives insight on the origin of the recently empirically observed power law distribution of limit order prices. In the framework of the model, the most likely proximate cause of this power law is a power law heterogeneity of traders' investment time horizons .
APROS-NIMBUS: Dynamic Process Simulator and Interactive Multiobjective Optimization in Plant Automation
2013
Abstract Virtual commissioning of chemical plants often involves a dynamic simulator and an optimization method. This paper demonstrates the integration of APROS, a dynamic process simulator and IND-NIMBUS, an interactive multiobjective optimization software. We implement a multiobjective concentration control problem in APROS involving conflicting objectives and employ a decision maker to interact with IND-NIMBUS and express his preference information to finally obtain his most preferred solution. The results of this study show that APROS and IND-NIMBUS can be integrated and an interactive multiobjective optimization method can help the decision maker in exploring trade-offs among conflict…
Analyzing E-Commerce Websites: A Quali-Quantitive Approach for the User Perceived Web Quality (UPWQ)
2016
<p>The electronic commerce (e-commerce) is an increasingly important phenomenon and this research deals with perceived quality from the users-customers point of view. The aim of this paper is to shed light on the critical factors determining the User Perceived Web Quality (UPWQ) for e-commerce.</p><p>We use the Pareto Chart as qualitative methodology able to identify the UPWQ considering not only technical features (ease of use, design, smart phone and tablet responsivity, information), but also emotional features such as trust, empathy, free shipping and discount. The Pareto chart main has the advantage to classify the selected features by their relevance.</p><p&…
Uso secuencial de herramientas de control de calidad en procesos productivos: una aplicación en el sector agroalimentario = Sequential use of quality…
2014
<p>Las diferentes herramientas del Control Estadístico de Calidad proporcionan mejores resultados si su uso se lleva a cabo de manera secuencial, facilitando la detección de los puntos débiles del proceso productivo. Así, en el presente estudio se expone un método de trabajo en el que se utilizan, atendiendo a la necesidad en cada punto de la cadena de producción, algunas de dichas herramientas. Concretamente se propone el uso del diagrama de flujo, gráfico de Pareto, hojas de comprobación, gráficos de control (en este caso gráfico p y gráfico de media-recorrido), así como el análisis de la varianza (ANOVA). El procedimiento se aplica a una empresa del sector agroalimentario, interesa…
PARETO OR LOG-NORMAL? BEST FIT AND TRUNCATION IN THE DISTRIBUTION OF ALL CITIES*
2015
In the literature, the distribution of city size is a controversial issue with two common contenders: the Pareto and the log-normal. While the first is most accredited when the distribution is truncated above a certain threshold, the latter is usually considered a better representation for the untruncated distribution of all cities. In this paper, we reassess the empirical evidence on the best-fitting distribution in relation to the truncation point issue. Specifically, we provide a comparison among four recently proposed approaches and alternative definitions of U.S. cities. Our results highlight the importance to look at issue of the best-fitting distribution together with the truncation …
A Quality Risk Management Model Approach for Cell Therapy Manufacturing
2010
International regulatory authorities view risk management as an essential production need for the development of innovative, somatic cell-based therapies in regenerative medicine. The available risk management guidelines, however, provide little guidance on specific risk analysis approaches and procedures applicable in clinical cell therapy manufacturing. This raises a number of problems. Cell manufacturing is a poorly automated process, prone to operator-introduced variations, and affected by heterogeneity of the processed organs/tissues and lot-dependent variability of reagent (e.g., collagenase) efficiency. In this study, the principal challenges faced in a cell-based product manufacturi…
A Posteriori Methods
1998
A posteriori methods could also be called methods for generating Pareto optimal solutions. After the Pareto optimal set (or a part of it) has been generated, it is presented to the decision maker, who selects the most preferred among the alternatives. The inconveniences here are that the generation process is usually computationally expensive and sometimes in part, at least, difficult. On the other hand, it is hard for the decision maker to select from a large set of alternatives. One more important question is how to present or display the alternatives to the decision maker in an effective way. The working order in these methods is: 1) analyst, 2) decision maker.
Efficient evolutionary approach to approximate the Pareto-optimal set in multiobjective optimization, UPS-EMOA
2010
Solving real-life engineering problems requires often multiobjective, global, and efficient (in terms of objective function evaluations) treatment. In this study, we consider problems of this type by discussing some drawbacks of the current methods and then introduce a new population-based multiobjective optimization algorithm UPS-EMOA which produces a dense (not limited to the population size) approximation of the Pareto-optimal set in a computationally effective manner.
Optimization study of acid-base flow battery stacks with monopolar and bipolar membranes
2021
The Acid-Base Flow Battery (AB-FB) is a novel technology for energy storage. It is based on reversible electrodialytic techniques with ion-exchange membranes. The kye elements are the bipolar membranes, which convert electrical energy in the form of pH gradients and vice versa. Despite the promising results of few experimental studies, the AB-FB potential has been poorly explored so far. This work presents an optimization study of the AB-FB. It was performed by a multi-scale process model previously developed (gPROMS Model Builder® environment) and experimentally validated. A two-objective optimization was conducted by maximizing the Net Round Trip Efficiency and the Net Power Density in th…
SCORING ALTERNATIVE FORECAST DISTRIBUTIONS: COMPLETING THE KULLBACK DISTANCE COMPLEX
2018
We develop two surprising new results regarding the use of proper scoring rules for evaluating the predictive quality of two alternative sequential forecast distributions. Both of the proponents prefer to be awarded a score derived from the other's distribution rather than a score awarded on the basis of their own. A Pareto optimal exchange of their scoring outcomes provides the basis for a comparison of forecast quality that is preferred by both forecasters, and also evades a feature of arbitrariness inherent in using the forecasters' own achieved scores. The well-known Kullback divergence, used as a measure of information, is evaluated via the entropies in the two forecast distributions a…