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Author: Alex Gershkov Publisher: MIT Press ISBN: 0262552442 Category : Business & Economics Languages : en Pages : 209
Book Description
A new approach to dynamic allocation and pricing that blends dynamic paradigms from the operations research and management science literature with classical mechanism design methods. Dynamic allocation and pricing problems occur in numerous frameworks, including the pricing of seasonal goods in retail, the allocation of a fixed inventory in a given period of time, and the assignment of personnel to incoming tasks. Although most of these problems deal with issues treated in the mechanism design literature, the modern revenue management (RM) literature focuses instead on analyzing properties of restricted classes of allocation and pricing schemes. In this book, Alex Gershkov and Benny Moldovanu propose an approach to optimal allocations and prices based on the theory of mechanism design, adapted to dynamic settings. Drawing on their own recent work on the topic, the authors describe a modern theory of RM that blends the elegant dynamic models from the operations research (OR), management science, and computer science literatures with techniques from the classical mechanism design literature. Illustrating this blending of approaches, they start with well-known complete information, nonstrategic dynamic models that yield elegant explicit solutions. They then add strategic agents that are privately informed and then examine the consequences of these changes on the optimization problem of the designer. Their sequential modeling of both nonstrategic and strategic logic allows a clear picture of the delicate interplay between dynamic trade-offs and strategic incentives. Topics include the sequential assignment of heterogeneous objects, dynamic revenue optimization with heterogeneous objects, revenue maximization in the stochastic and dynamic knapsack model, the interaction between learning about demand and dynamic efficiency, and dynamic models with long-lived, strategic agents.
Author: Alex Gershkov Publisher: MIT Press ISBN: 0262552442 Category : Business & Economics Languages : en Pages : 209
Book Description
A new approach to dynamic allocation and pricing that blends dynamic paradigms from the operations research and management science literature with classical mechanism design methods. Dynamic allocation and pricing problems occur in numerous frameworks, including the pricing of seasonal goods in retail, the allocation of a fixed inventory in a given period of time, and the assignment of personnel to incoming tasks. Although most of these problems deal with issues treated in the mechanism design literature, the modern revenue management (RM) literature focuses instead on analyzing properties of restricted classes of allocation and pricing schemes. In this book, Alex Gershkov and Benny Moldovanu propose an approach to optimal allocations and prices based on the theory of mechanism design, adapted to dynamic settings. Drawing on their own recent work on the topic, the authors describe a modern theory of RM that blends the elegant dynamic models from the operations research (OR), management science, and computer science literatures with techniques from the classical mechanism design literature. Illustrating this blending of approaches, they start with well-known complete information, nonstrategic dynamic models that yield elegant explicit solutions. They then add strategic agents that are privately informed and then examine the consequences of these changes on the optimization problem of the designer. Their sequential modeling of both nonstrategic and strategic logic allows a clear picture of the delicate interplay between dynamic trade-offs and strategic incentives. Topics include the sequential assignment of heterogeneous objects, dynamic revenue optimization with heterogeneous objects, revenue maximization in the stochastic and dynamic knapsack model, the interaction between learning about demand and dynamic efficiency, and dynamic models with long-lived, strategic agents.
Author: Michael Schwind Publisher: Springer Science & Business Media ISBN: 3540680039 Category : Mathematics Languages : en Pages : 305
Book Description
This book develops allocation mechanisms that aim to ensure an efficient resource allocation in modern IT-services. Recent methods of artificial intelligence, such as neural networks and reinforcement learning, and nature-oriented optimization methods, such as genetic algorithms and simulated annealing, are advanced and applied to allocation processes in distributed IT-infrastructures, or grid systems.
Author: Abraham Lioui Publisher: Springer Science & Business Media ISBN: 038724106X Category : Business & Economics Languages : en Pages : 268
Book Description
This book is an advanced text on the theory of forward and futures markets which aims at providing readers with a comprehensive knowledge of how prices are established and evolve in time, what optimal strategies one can expect the participants to follow, whether they pertain to arbitrage, speculation or hedging, what characterizes such markets and what major theoretical and practical differences distinguish futures from forward contracts. It should be of interest to students (MBAs majoring in finance with quantitative skills and PhDs in finance and financial economics), academics (both theoreticians and empiricists), practitioners, and regulators. Standard textbooks dealing with forward and futures markets generally focus on the description of the contracts, institutional details, and the effective (as opposed to theoretically optimal) use of these instruments by practitioners. The theoretical analysis is often reduced to the (undoubtedly important) cash-and-carry relationship and the computation of the simple, static, minimum variance hedge ratio. This book proposes an alternative approach of these markets from the perspective of dynamic asset allocation and asset pricing theory within an inter-temporal framework that is in line with what has been done many years ago for options markets.
Author: Junaid Farooq Publisher: John Wiley & Sons ISBN: 1119716098 Category : Technology & Engineering Languages : en Pages : 228
Book Description
RESOURCE MANAGEMENT FOR ON-DEMAND MISSION-CRITICAL INTERNET OF THINGS APPLICATIONS Discover an insightful and up-to-date treatment of resource management in Internet of Things technology In Resource Management for On-Demand Mission-Critical Internet of Things Applications, an expert team of engineers delivers an insightful analytical perspective on modeling and decision support for mission-critical Internet of Things applications. The authors dissect the complex IoT ecosystem and provide a cross-layer perspective on the design and operation of IoT, especially in the context of smart and connected communities. The book offers an economic perspective on resource management in IoT systems with a particular emphasis on three main areas: spectrum management via reservation, allocation of cloud/fog resources to IoT applications, and resource provisioning to smart city service requests. It leverages theories from dynamic mechanism design, optimal control theory, and spatial point processes, providing an overview of integrated decision-making frameworks. Finally, the authors discuss future directions and relevant problems on the economics of resource management from new perspectives, like security and resilience. Readers will also enjoy the inclusion of: A thorough introduction and overview of IoT applications in smart cities, mission critical IoT services and requirements, and key metrics and research challenges A comprehensive exploration of the allocation of spectrum resources to mission critical IoT applications, including the massive surge of IoT and spectrum scarcity problem Practical discussions of the provisioning of cloud/fog computing resources to IoT applications, including allocation policy In-depth examinations of resource provisioning to spatio-temporal service requests in smart cities Perfect for engineers working on Internet of Things and cyber-physical systems, Resource Management for On-Demand Mission-Critical Internet of Things Applications is also an indispensable reference for graduate students, researchers, and professors with an interest in IoT resource management.
Author: Joonsoo Bae Publisher: Springer ISBN: 3319195093 Category : Computers Languages : en Pages : 199
Book Description
This book constitutes the proceedings of the Third Asia Pacific Conference on Business Process Management held in Busan, South Korea, in June 2015. Overall, 37 contributions from ten countries were submitted. After each submission was reviewed by at least three Program Committee members, 12 full and two short papers were accepted for publication in this volume. These papers cover various topics and are categorized under four main research focuses in BPM: advancement in workflow technologies, resources allocation strategies, process mining, and emerging topics in BPM.
Author: Dmitry Ivanov Publisher: Springer Nature ISBN: 3030723313 Category : Business & Economics Languages : en Pages : 673
Book Description
The third edition of this textbook comprehensively discusses global supply chain and operations management (SCOM), combining value creation networks and interacting processes. It focuses on operational roles within networks and presents the quantitative and organizational methods needed to plan and control the material, information, and financial flows in supply chains. Each chapter begins with an introductory case study, while numerous examples from various industries and services help to illustrate the key concepts. The book explains how to design operations and supply networks and how to incorporate suppliers and customers. It examines how to balance supply and demand, a core aspect of tactical planning, before turning to the allocation of resources to meet customer needs. In addition, the book presents state-of-the-art research reflecting the lessons learned from the COVID-19 pandemic, and emerging, fast-paced developments in the digitalization of supply chain and operations management. Providing readers with a working knowledge of global supply chain and operations management, with a focus on bridging the gap between theory and practice, this textbook can be used in core, specialized, and advanced classes alike. It is intended for a broad range of students and professionals in supply chain and operations management.
Author: Jean-Philippe Vasseur Publisher: Morgan Kaufmann ISBN: 0123751667 Category : Computers Languages : en Pages : 432
Book Description
Interconnecting Smart Objects with IP: The Next Internet explains why the Internet Protocol (IP) has become the protocol of choice for smart object networks. IP has successfully demonstrated the ability to interconnect billions of digital systems on the global Internet and in private IP networks. Once smart objects can be easily interconnected, a whole new class of smart object systems can begin to evolve. The book discusses how IP-based smart object networks are being designed and deployed. The book is organized into three parts. Part 1 demonstrates why the IP architecture is well suited to smart object networks, in contrast to non-IP based sensor network or other proprietary systems that interconnect to IP networks (e.g. the public Internet of private IP networks) via hard-to-manage and expensive multi-protocol translation gateways that scale poorly. Part 2 examines protocols and algorithms, including smart objects and the low power link layers technologies used in these networks. Part 3 describes the following smart object network applications: smart grid, industrial automation, smart cities and urban networks, home automation, building automation, structural health monitoring, and container tracking. Shows in detail how connecting smart objects impacts our lives with practical implementation examples and case studies Provides an in depth understanding of the technological and architectural aspects underlying smart objects technology Offers an in-depth examination of relevant IP protocols to build large scale smart object networks in support of a myriad of new services
Author: Abraham Lioui Publisher: Springer Science & Business Media ISBN: 9780387241074 Category : Business & Economics Languages : en Pages : 290
Book Description
This is an advanced text on the theory of forward and futures markets which aims at providing readers with a comprehensive knowledge of how prices are established and evolve over time, what optimal strategies one can expect from the participants, what characterizes such markets and what major theoretical and practical differences distinguish futures from forward contracts. It should be of interest to students (majoring in finance with quantitative skills) academics (both theoreticians and empiricists), practitioners, and regulators.