scholarly journals A Branching Process for Convergent Product Optimization

2017 ◽  
Vol 2 (4) ◽  
pp. 1
Author(s):  
Ermia Aghasi ◽  
Mansour Momeni ◽  
Mohammad Ali Shah Hoseini
Keyword(s):  
Discrete Time ◽  
Decision Problem ◽  
Branching Process ◽  
Expected Profit ◽  
Transition Matrices ◽  
Markov Decision Problem ◽  
Markov Decision ◽  
Product Optimization

<p><em>We consider a discrete time branching process where the population consists of k types of convergent products, an action is chosen for that which affects the lifetime, the number and types of its functions, and the profit received. The problem of maximizing the expected profit is shown to be equivalent to a generalized Markov decision problem of maximizing the expected profit is shown to be equivalent to a generalized Markov decision problem where the </em><em> </em><em>transition matrices are non-negative but not necessarily sub stochastic.</em></p>

scholarly journals A Subjective Optimal Strategy for Transit Simulation Models

2018 ◽  
Vol 2018 ◽  
pp. 1-10 ◽  
Author(s):  
Agostino Nuzzolo ◽  
Antonio Comi
Keyword(s):  
Optimal Strategy ◽  
Decision Problem ◽  
Simulation Models ◽  
Problem Solution ◽  
Markov Decision Problem ◽  
Behavioural Modelling ◽  
Transit Networks ◽  
Modelling Framework ◽  
Markov Decision ◽  
Choice Approach

A behavioural modelling framework with a dynamic travel strategy path choice approach is presented for unreliable multiservice transit networks. The modelling framework is especially suitable for dynamic run-oriented simulation models that use subjective strategy-based path choice models. After an analysis of the travel strategy approach in unreliable transit networks with the related hyperpaths, the search for the optimal strategy as a Markov decision problem solution is considered. The new modelling framework is then presented and applied to a real network. The paper concludes with an overview of the benefits of the new behavioural framework and outlines scope for further research.

Hyperpath Truck Routing in an Online Freight Exchange Platform

2020 ◽  
Vol 54 (6) ◽  
pp. 1676-1696 ◽  
Author(s):  
John Miller ◽  
Yu (Marco) Nie ◽  
Xiaobo Liu
Keyword(s):  
Market Competition ◽  
Expected Profit ◽  
Real World Data ◽  
Markov Decision Problem ◽  
Routing Problem ◽  
Truck Routing ◽  
Bid Price ◽  
Markov Decision ◽  
The Impact ◽  
Benchmark Solutions

Online freight exchange (OFEX) platforms serve the purpose of matching demand and supply for freight in real time. This paper studies a truck routing problem that aims to leverage the power of an OFEX platform. The OFEX routing problem is formulated as a Markov decision problem, which we solve by finding the bidding strategy at each possible location and time along the route that maximizes the expected profit. At the core of the OFEX routing problem is a combined pricing and bidding model that simultaneously (1) considers the probability of winning a load at a given bid price and current market competition, (2) anticipates the future profit corresponding to the current decision, and (3) prioritizes the bidding order among possible load options. Results from numerical experiments constructed using real-world data from a Chinese OFEX platform indicate that the proposed routing model could (1) improve a truck’s expected profit substantially, compared with the benchmark solutions built to represent the state of the practice, and (2) enhance the robustness of the overall profitability against the impact of market competition and spatial variations.

scholarly journals Spinning plates and squad systems: policies for bi-directional restless bandits

2006 ◽  
Vol 38 (1) ◽  
pp. 95-115 ◽  
Author(s):  
K. D. Glazebrook ◽  
C. Kirkbride ◽  
D. Ruiz-Hernandez
Keyword(s):  
Decision Problem ◽  
Decision Processes ◽  
Optimal Management ◽  
Markov Decision Problem ◽  
Restless Bandits ◽  
The Family ◽  
Markov Decision ◽  
Necessary And Sufficient

This paper concerns two families of Markov decision problem that fall within the family of (bi-directional) restless bandits, an intractable class of decision processes introduced by Whittle. The spinning plates problem concerns the optimal management of a portfolio of reward-generating assets whose yields grow with investment but otherwise tend to decline. In the model of asset exploitation called the squad system, the yield from an asset tends to decline when it is used but will recover when the asset is at rest. In all cases, simply stated conditions are given that guarantee indexability of the problem, together with conditions necessary and sufficient for its strict indexability. The index heuristics for asset activation that emerge from the analysis are assessed numerically and found to perform very strongly.

Splitting in a finite Markov decision problem

2012 ◽  
Vol 39 (4) ◽  
pp. 38-38
Author(s):  
Eric V. Denardo ◽  
Eugene A. Feinberg ◽  
Uriel G. Rothblum
Keyword(s):  
Decision Problem ◽  
Markov Decision Problem ◽  
Markov Decision
Sign in / Sign up

Export Citation Format

Share Document