Optimal acquisition of pollution control equipment under uncertainty

Article Abstract:

The optimal control theory is used to develop a model of optimal acquisition of pollution control equipment as a means of complying with pollution standards imposed by the government. The optimization of investment in abatement equipment is determined for an environment of unforseeable compliance dates and target stocks. The model examines the influence of the technological innovation factor on the supply of equipment and consequently on the shorter time for installation that results. An increasing trend was observed for the optimal investment rate in pollution control equipment for early announcement dates. At the announcement date itself, in an environment of resolved uncertainty, the rate of installation may rise or drop than show a trend towards a monotonic increase up to the compliance date.

Purchasing, Pollution control equipment

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A minimax portfolio selection rule with linear programming solution

Article Abstract:

A study was conducted to characterize a novel principle for selecting portfolios based on historical returns data. The principle, referred to as minimax, represented the optimal portfolio as the solution to a linear programming problem using minimum return as a measure of risk. The minimax portfolio selection rule was represented as optimal with the dataset and was characterized by a number of securities concerns and time periods. Performance features of the portfolio selection method were analyzed by applying the minimax rule to real and simulated datasets. Results indicated that the minimax principle correlates with the expected utility maximizing principle under weak scenarios. Findings also suggested specific settings preferred by the minimax method.

Portfolio Management, Analysis, Linear programming, Evaluation, Investments, Utility theory, Utility functions

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Optimal balancing of U-shaped assembly lines

Article Abstract:

An integer programming formulation that can be used to obtain the maximum balance in the U-line balancing problem (ULBP) associated in production lines is presented. The ULBP is characterized by the forward and backward assignment of tasks to stations. The formulation was able to reduce the number of stations needed by the theoretical minimum, thus avoiding the need for additional variables for the stations. Moreover, the framework can be formulated as an integer program to optimally solve for larger problems. The model's size can also be minimized by eliminating some variables using bounds. Ordered pairs of tasks are represented to reflect precedence relationships in an integer program.

Information Systems & Theory, Metalworking machinery, not elsewhere classified, Other Metalworking Machinery Manufacturing, Flexible Assembly & Quality Control Test, Software, Integer programming, Quality control equipment, Assembly-line balancing

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