Article
Management
Nathalie Vanvuchelen, Kim De Boeck, Robert N. Boute
Summary: This study investigates how transshipment can improve service levels, equity, and inventory levels in Zambia's public pharmaceutical supply chain. The researchers use advanced deep reinforcement learning and heuristics to develop transshipment policies and compare their performance in resource-constrained and sufficient inventory scenarios. The findings provide policy insights for decision-makers in humanitarian health contexts.
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
(2024)
Article
Management
Victor V. Podinovski, Junlin Wu, Nikolaos Argyris
Summary: In applications of data envelopment analysis (DEA), conventional DEA models cannot correctly incorporate ratio measures. This paper addresses this issue by developing and expanding R-VRS and R-CRS models, allowing production trade-offs and improving the efficiency discrimination of DEA models.
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
(2024)
Article
Management
Johnson Phosavanh, Daniel Oron
Summary: This study investigates single-machine scheduling problems involving a rate-modifying activity and two agents competing over the use of a shared resource. By considering multiple independent agents and the change in processing times, the model can be applied to scenarios of resource sharing in the sharing economy. The research proposes efficient algorithms for solving these problems by considering multiple scheduling criteria.
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
(2024)
Review
Management
Hamed Jahani, Babak Abbasi, Jiuh-Biing Sheu, Walid Klibi
Summary: Supply chain network design is a large and growing area of research. This study comprehensively surveys and analyzes articles published from 2008 to 2021 to detect and report financial perspectives in SCND models. The study also identifies research gaps and offers future research directions.
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
(2024)
Article
Management
Pascal M. Notz, Richard Pibernik
Summary: In this study, a explainable prescriptive analytics approach called subgradient tree boosting (STB) is proposed for solving convex stochastic optimization problems in operations management. The STB approach combines the method of subgradient descent in function space with sample average approximation and provides detailed explanations for the prescribed decisions, making it valuable in practice.
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
(2024)
Article
Management
Aasheesh Dixit, Tsan-Ming Choi, Patanjal Kumar, Suresh K. Jakhar
Summary: This paper examines the impacts of reciprocity and fairness concerns on environmental sustainability in a single-airport two-airlines system through the analysis of mathematical models. The results show that reciprocity from the airport towards an airline improves the greening level, and the presence of fairness concerns affects revenue-sharing fraction. Enhancing passengers' environmental awareness is favorable for enhancing environmental sustainability.
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
(2024)
Article
Management
Claire Y. T. Chen, Edward W. Sun, Wanyu Miao, Yi-Bing Lin
Summary: The relationship between price and quantity in nonlinear pricing is complex, and the uncertainty of consumer behavior leads to incomplete information. In this study, researchers propose a data-driven approach to help business operators pursue optimal nonlinear pricing strategies.
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
(2024)
Article
Management
Ece Zeliha Demirci, Nesim Erkip
Summary: This paper builds a decision model to explore the budget allocation problem for an innovative firm in each generation of its products. By investing in R&D and providing subsidies to a distributor, the firm aims to maximize its market potential. Using a game theoretical model, the paper provides a guideline for funding strategy and identifies the optimal budget allocation decision characterized by two budget thresholds and an R&D cost efficiency threshold. The study also analyzes the effects of total available budget and R&D efficiency level on the optimal solution, and evaluates the model's applicability by examining the expected excess budget requirement and the distributor's expected profit. Valuable managerial insights on prioritizing the components of the budget are provided.
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
(2024)
Article
Management
Xiaoyu Liu, Xing Yan, Kun Zhang
Summary: This study focuses on the use of a kernel quantile estimator (KQE) for nested simulation to estimate value at risk (VaR) in portfolio risk measurement. The bias, variance, and mean squared error (MSE) are analyzed, and an efficient bootstrap-based algorithm is proposed for practical implementation.
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
(2024)
Article
Management
Gabriel Zsurkis, Joao Nicolau, Paulo M. M. Rodrigues
Summary: This paper introduces a portfolio optimization procedure that aims to minimize the intra-horizon (IH) risk subject to a minimum expected time to achieve a target cumulative return. To estimate the first passage probabilities and the expected time a novel nonparametric method and a new Markov chain order determination approach are developed. The results suggest that the proposed framework exhibits more consistency between in-sample and out-of-sample performance than the mean-variance model and an alternative optimization problem. Overall, the portfolio optimization approach we introduce results in higher out-of-sample annualized returns for relatively low levels of IH risk.
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
(2024)
Article
Management
Tobias Croenert, Layla Martin, Stefan Minner, Christopher S. Tang
Summary: When determining store locations, competing retailers need to consider customers' store choices. Incumbent retailers estimate customer attraction parameters using historical data, while new entrants can observe the location structure of incumbents to estimate these parameters. We propose an inverse optimization approach to help new entrants improve their profits by identifying parameter combinations that lead to observed equilibrium solutions.
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
(2024)
Article
Management
M. A. Forbes, M. G. Harris, H. M. Jansen, F. A. van der Schoot, T. Taimre
Summary: This article proposes a new approach to integrating simulation into the optimization model, which solves stochastic resource allocation problems and derives strong Benders cuts. The approach is tested on nursing home shift scheduling and airport check-in counter allocation problems, achieving exact solutions within a reasonable amount of time.
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
(2024)
Article
Management
Arda Yenipazarli
Summary: This paper examines the strategic incentives for companies to use comparative advertising, the choice between positive or negative portrayal in comparative advertising, and the economic consequences of these decisions. The study finds that comparative advertising can be an effective tactic to achieve certain objectives, but it may also have negative impacts on both the advertising company and the product category.
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
(2024)
Article
Management
Idir Hamaz, Laurent Houssin, Sonia Cafieri
Summary: This paper addresses the cyclic job shop problem with uncertain task durations in a polyhedral uncertainty set. A two-stage robust optimization model is formulated, and a branch-and-bound algorithm is proposed to minimize the cycle time. Encouraging preliminary results are presented from numerical experiments.
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
(2024)
Article
Management
Abdullah Zareh Andaryan, Kasra Mousighichi, Nader Ghaffarinasab
Summary: This paper studies a capacitated single allocation hub location problem with Bernoulli demands. Mathematical models are developed and a Tabu Search-based algorithm is presented to obtain solutions. The relevance of using stochastic programming approach for the problems is demonstrated.
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
(2024)
Article
Management
Hirofumi Fukuyama, Mike Tsionas, Yong Tan
Summary: This study estimates output market power in the Chinese banking industry and analyzes the impacts of bank innovation and trade openness on market power. The findings suggest that Chinese banks exhibit high market power in loans, but trade openness has a significantly negative impact on overall market power.
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
(2024)
Article
Management
Mohammad Sadeghi, Saeed Yaghoubi
Summary: This paper proposes an optimization approach for cloud seeding to address water shortage challenges. The approach involves location analysis and operational planning, considering atmospheric conditions, facility properties, seeding method variants, and vulnerabilities. The paper presents multi-objective mixed-integer linear programming models for facility location and seeding operations, aiming to maximize spatial coverage and precipitation augmentation, while minimizing total system-wide costs.
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
(2024)
Article
Management
Michal Golan, Nahum Shimkin
Summary: This paper discusses a Markov Decision Process (MDP) model considering (sigma, rho)-burstiness constraints over a finite or infinite horizon, and explores the corresponding constrained optimization problems. By introducing a recursive form of constraints, an augmented-state model is proposed to recover sufficiency of Markov or stationary policies and apply standard theory.
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
(2024)
Article
Management
Qianying Jin, Antonella Basso, Stefania Funari, Kristiaan Kerstens, Ignace Van de Woestyne
Summary: Ethical mutual funds have become increasingly popular, and this article proposes a nonconvex metafrontier framework for comparing different types of mutual fund investment groups. The results suggest that ethical funds do not necessarily underperform non-ethical funds.
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
(2024)
Article
Management
Jong Youl Lee, Balaraman Rajan, Abraham (Avi) Seidmann
Summary: Remote dental units (RDUs) can provide basic services to rural areas by integrating data with regional medical centers. However, the economic viability of this model needs further research. This study examines the economics of operating RDUs in distant rural areas and identifies the optimal patient coverage overlap between the hospital and RDUs.
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
(2024)
