Search results for "operations"
showing 10 items of 1692 documents
A Unified Approach to Portfolio Optimization with Linear Transaction Costs
2004
In this paper we study the continuous time optimal portfolio selection problem for an investor with a finite horizon who maximizes expected utility of terminal wealth and faces transaction costs in the capital market. It is well known that, depending on a particular structure of transaction costs, such a problem is formulated and solved within either stochastic singular control or stochastic impulse control framework. In this paper we propose a unified framework, which generalizes the contemporary approaches and is capable to deal with any problem where transaction costs are a linear/piecewise-linear function of the volume of trade. We also discuss some methods for solving numerically the p…
Strategic sharing of a costly network
2012
We study minimum cost spanning tree problems for a set of users connected to a source. Prim’s algorithm provides a way of finding the minimum cost tree mm. This has led to several definitions in the literature, regarding how to distribute the cost. These rules propose different cost allocations, which can be understood as compensations and/or payments between players, with respect to the status quo point: each user pays for the connection she uses to be linked to the source. In this paper we analyze the rationale behind a distribution of the minimum cost by defining an a priori transfer structure. Our first result states the existence of a transfer structure such that no user is willing to …
Assessment of methodologies and data used to calculate desalination costs
2017
Abstract In desalination, similarly with other industries, the cost of the final product is one of the most important criteria that define the commercial success of a specific technology. Therefore, when new projects are planned or new technologies are proposed, the analysis of the expected costs attracts a lot of attention and is compared to (perceived) costs of state-of-the-art desalination or costs of alternative fresh water supply options. This comparison only makes sense if the cost assessment methodologies are based on the same principles and use common assumptions. This paper assesses: (i) the methodologies used to calculate the water cost; (ii) the boundary conditions and (iii) the …
Monitoring and prediction in early warning systems for rapid mass movements
2015
Rapid mass movements (RMM) pose a substantial risk to people and infrastructure. Reliable and cost-efficient measures have to be taken to reduce this risk. One of these measures includes establishing and advancing the state of practice in the application of early warning systems (EWSs). EWSs have been developed during the past decades and are rapidly increasing. In this paper, we focus on the technical part of EWSs, i.e., the prediction and timely recognition of imminent hazards, as well as on monitoring slopes at risk and released mass movements. Recent innovations in assessing spatial precipitation, monitoring and precursors of the triggering and deformation of RMM offer new opportunities…
The computational complexity of the relative robust shortest path problem with interval data
2004
Abstract The paper deals with the relative robust shortest path problem in a directed arc weighted graph, where arc lengths are specified as intervals containing possible realizations of arc lengths. The complexity status of this problem has been unknown in the literature. We show that the problem is NP -hard.
Existence of fixed point for GP(Λ;Θ)-contractive mappings in GP-metric spaces
2017
We combine some classes of functions with a notion of hybrid $GP_{(\Lambda,\Theta )}$ - $H$ - $F$ - contractive mapping for establishing some fixed point results in the setting of $GP$-metric spaces. An illustrative example supports the new theory.
THE INDICATORS OF LOCUS OF CONTROL IN THE SMALL BUSINESS CONTEXT
2000
There have been divergent opinions as to the suitability of the various indicators of locus of control in business management research. This study examines how the indicators of internal locus and strategic locus of control function in the small business context. The study examines first the interrelations between these indicators and then relation between each of the indicators and the firm's strategic factors. The indicators of locus of control differed from each other in their relation to external control. The indicator of strategic locus of control correlated with the firm's targets, strategic decision-making and success. On the other hand the indicator of internal locus of control is …
The effect of buyer specific-monitoring procedures on buyer control in dynamic supply chain links
2015
Based on transaction cost analysis (TCA), resource dependency theory (RDT), and supply chain management literature, this study explores the effect of buyer-specific monitoring procedures on buyer control in industrial buyer-seller transactions, particularly in relation to how environmental uncertainty affects the buying firm's ability to exercise control over the supplier firm. The research design is based on primary data from a survey of 168 industrial buyer-seller relationships which map a broad set of dimensions of the economic transactions and structures in these business-to-business relationships. The empirical findings provide support for the hypotheses, and demonstrate that the effec…
Classifying efficient alternatives in SMAA using cross confidence factors
2006
Abstract Stochastic multicriteria acceptability analysis (SMAA) is a family of methods for aiding multicriteria group decision making. These methods are based on exploring the weight space in order to describe the preferences that make each alternative the most preferred one. The main results of the analysis are rank acceptability indices, central weight vectors and confidence factors for different alternatives. The rank acceptability indices describe the variety of different preferences resulting in a certain rank for an alternative; the central weight vectors represent the typical preferences favouring each alternative; and the confidence factors measure whether the criteria data are suff…
Operations & Maintenance Business Model Transformation—Multiple Case Studies
2014
Capital goods companies’ service offering has been mainly to provide spare parts and maintenance work. In search of growth, these companies have expanded to new areas, such as Operations & Maintenance. Instead of operating and maintaining e.g. production processes itself, a customer can outsource a wide variety of managed services based on agreed service levels. There has been a special focus on global information management know-how, governance, process know-how, physical assets, and spare and wear parts. In order to get a good coverage of case studies, we selected five large global suppliers and two customer companies in telecommunication, energy, mining, and pulp and paper business. By i…