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New models and solutions for stochas...
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Rutgers The State University of New Jersey - Newark.
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New models and solutions for stochastic optimization for R&D and transportation problems.
Record Type:
Electronic resources : Monograph/item
Title/Author:
New models and solutions for stochastic optimization for R&D and transportation problems./
Author:
Chen, Wen.
Description:
88 p.
Notes:
Adviser: Michael N. Katehakis.
Contained By:
Dissertation Abstracts International70-03B.
Subject:
Business Administration, Management. -
Online resource:
http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3351103
ISBN:
9781109066463
New models and solutions for stochastic optimization for R&D and transportation problems.
Chen, Wen.
New models and solutions for stochastic optimization for R&D and transportation problems.
- 88 p.
Adviser: Michael N. Katehakis.
Thesis (Ph.D.)--Rutgers The State University of New Jersey - Newark, 2008.
In this dissertation we develop new models and efficient solution procedures for important stochastic optimization issues in industrial R&D and transportation.
ISBN: 9781109066463Subjects--Topical Terms:
626628
Business Administration, Management.
New models and solutions for stochastic optimization for R&D and transportation problems.
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Chen, Wen.
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New models and solutions for stochastic optimization for R&D and transportation problems.
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88 p.
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Adviser: Michael N. Katehakis.
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Source: Dissertation Abstracts International, Volume: 70-03, Section: B, page: 1925.
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Thesis (Ph.D.)--Rutgers The State University of New Jersey - Newark, 2008.
520
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In this dissertation we develop new models and efficient solution procedures for important stochastic optimization issues in industrial R&D and transportation.
520
$a
The first model deals with the problem of how a firm can decide to bring into the market a new product either by using internal research (IR) or by purchasing (or licensing) outside existing technology (ET). The IR consists of a known number of stages, where each stage has a random duration with known distribution. Decision epochs correspond to the start of each IR stage. The main results of this chapter are: It is shown that the optimal stopping time for IR is determined by a sequence of: "cut off" points for each stage. Finally, explicit solutions and numerical computations are given for three interesting choices for the stage duration distributions.
520
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With the second model we study an inventory system in which the retailer during each period can further optimize its response to a shortage by either choosing to ignore the excess demand or by selecting one of a fixed number of available express channels to fulfill the excess demand. It is assumed that between periods the retailer employs an (s, S) policy, where s and S are given and the objective is to determine a vector w&ar; = (n1...,nm) to select best method to fulfill the shortage. In the case of a Geometric demand distribution we have computed the explicit value of w&ar; that maximizes the expected average profit for the system.
520
$a
In the third model we study a container shipping problem in which in every period the demand is random, production is completed at some distant location and shipping is done using containers with a high transportation fee per container. We give a simple D.P. formulation for this general problem and show that the optimal container shipping policy in each time period is specified by a single number - the minimum shipping quantity. Further, we give solutions for some cases.
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School code: 0461.
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http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3351103
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