Lucas Assunção, A. C. Santos, T. Noronha, R. Andrade
{"title":"Improving logic-based Benders’ algorithms for solving min-max regret problems","authors":"Lucas Assunção, A. C. Santos, T. Noronha, R. Andrade","doi":"10.37190/ord210202","DOIUrl":"https://doi.org/10.37190/ord210202","url":null,"abstract":"This paper addresses a class of problems under interval data uncertainty, composed of min-max regret generalisations of classical 0-1 optimisation problems with interval costs. These problems are called robust-hard when their classical counterparts are already NP-hard. The state-of-the-art exact algorithms for interval 0-1 min-max regret problems in general work by solving a corresponding mixed integer linear programming formulation in a Benders’ decomposition fashion. Each of the possibly exponentially many Benders’ cuts is separated on the fly through the resolution of an instance of the classical 0-1 optimisation problem counterpart. Since these separation subproblems may be NP-hard, not all of them can be easily modelled by means of Linear Programming (LP), unless P = NP. In this work, we formally describe these algorithms through a logic-based Benders’ decomposition framework and assess the impact of three warm-start procedures. These procedures work by providing promising initial cuts and primal bounds through the resolution of a linearly relaxed model and an LP-based heuristic. Extensive computational experiments in solving two challenging robust-hard problems indicate that these procedures can highly improve the quality of the bounds obtained by the Benders’ framework within a limited execution time. Moreover, the simplicity and effectiveness of these speed-up procedures makes them an easily reproducible option when dealing with interval 0-1 min-max regret problems in general, especially the more challenging subclass of robust-hard problems","PeriodicalId":43244,"journal":{"name":"Operations Research and Decisions","volume":null,"pages":null},"PeriodicalIF":0.4,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86866044","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Measurement of Control Power in Corporate Networks","authors":"Izabella Stach, J. Mercik","doi":"10.37190/ORD210106","DOIUrl":"https://doi.org/10.37190/ORD210106","url":null,"abstract":"This paper discusses some game-theoretical methods for measuring indirect control in complex corporate shareholding networks. The methods use power indices in order to estimate the direct and indirect control in shareholding structures. Some of these methods only estimate the control power of investors (firms without shareholdings), and only a few measure the control power of all firms involved in shareholding networks (which means investors and stock companies). None of them take measuring the importance of mutual connections (edges in the networks) into consideration; thus we focus in particular on an extension of these methods in this paper in order to measure both the control-power of the firms involved in complex shareholding structures (represented by nodes in networks), and the importance (power) of linkages between the firms as elements of a whole corporate shareholding network. More precisely, we apply our approaches to a theoretical example of a corporate network. Moreover, we continue the considerations started in Mercik and Stach (Transactions on Computational Collective Intelligence XXXI, LNCS 11290: 64–79, 2018) about reasonable properties for indirect control measurement. Some ideas of new properties are proposed. The paper also provides a brief review of the literature concerning the topic.","PeriodicalId":43244,"journal":{"name":"Operations Research and Decisions","volume":null,"pages":null},"PeriodicalIF":0.4,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85787435","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"DEA-based competition strategy in the presence of undesirable products: An application to paper mills","authors":"A. Amirteimoori, S. Masrouri","doi":"10.37190/ord210201","DOIUrl":"https://doi.org/10.37190/ord210201","url":null,"abstract":"In real applications of data envelopment analysis (DEA), there are cases in which undesirable outputs are produced along with desirable outputs in such a way that the total sum of the produced undesirable outputs over the production units must be fixed and constant. In this case, a trade-off between the decision making units (DMUs) is needed to balance the production of undesirable outputs. In a rational sight, this trade-off is done in such a way that all DMUs improve their relative performances. In this paper, a single DEA-based model is proposed to model fixed and variable-sum undesirable outputs in production processes. A common equilibrium efficient frontier is constructed and after reallocating the input/output factors, all decision making units (DMUs) prevail as efficient. A real case of 32 paper mills in China is given. The analysis results demonstrated that some economically developed paper mills have better performance than less developed paper mills; in particular, all efficient paper mills are the developed ones.","PeriodicalId":43244,"journal":{"name":"Operations Research and Decisions","volume":null,"pages":null},"PeriodicalIF":0.4,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86283945","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Nusrat Jafrin, M. M. Masud, A. Saif, M. Mahi, Moriam Khanam
{"title":"A panel data estimation of the determinants of life expectancy in selected SAARC countries","authors":"Nusrat Jafrin, M. M. Masud, A. Saif, M. Mahi, Moriam Khanam","doi":"10.37190/ord210404","DOIUrl":"https://doi.org/10.37190/ord210404","url":null,"abstract":"The precarious and decisive dynamics concerning the health of the population of South Asian Association for Regional Cooperation (SAARC) countries has called for further inquiry into the determinants of Life Expectancy (LE) in this region. Hence, the current paper employs panel data estimation methods to analyse the economic, social, demographic, environmental, and technological factors influencing LE in five SAARC countries. These countries (Bangladesh, India, Pakistan, Nepal, and Sri Lanka) are selected as they are favoured by the country similarity theory and other identical contexts, and because their data are obtained from the World Bank and UNDP databases from 2000 to 2016. The results reveal that the mean year of schooling and sanitation services are significant positive predictors of Life Expectancy at Birth (LEAB). However, the total fertility rate, urban population, and CO2 emissions negatively influence life expectancy. Furthermore, the impact of health expenditure on life expectancy is significant but negative, which is unconventional. On the other hand, other independent variables, such as GDP, gross capital formation, internet usage, and mobile cellular subscription turn out to be insignificant predictors of LEAB. Our aggregate findings reveal some common factors on which the governments of SAARC countries can collaborate to improve the LEAB of the region while identifying some idiosyncratic factors that require tailored attention of the governments and policymakers of the respective nations","PeriodicalId":43244,"journal":{"name":"Operations Research and Decisions","volume":null,"pages":null},"PeriodicalIF":0.4,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81726678","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Stochastic programming model for production planning with stochastic aggregate demand and spreadsheet-based solution heuristics","authors":"Nasreddine Saadouli","doi":"10.37190/ord210406","DOIUrl":"https://doi.org/10.37190/ord210406","url":null,"abstract":"The production planning problem with stochastic aggregate demand is considered in the article. By discretising the stochastic demand, a deterministic nonlinear programming formulation is developed. Then, a hybrid simulation-optimisation heuristic that capitalises on the nature of the problem is designed. The outcome is an evaluation problem that is efficiently solved using a spreadsheet model. The main contribution of the paper is providing production managers with a tractable formulation of the production planning problem in a stochastic environment and an efficient solution scheme. A key benefit of this approach is that it provides quick near-optimal solutions without requiring in-depth knowledge or significant investments in optimisation techniques and software.","PeriodicalId":43244,"journal":{"name":"Operations Research and Decisions","volume":null,"pages":null},"PeriodicalIF":0.4,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85562830","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Identification of risks of investments into residential premises for rent in Poland","authors":"A. Górski, Kamila Urbańska, A. Parkitna","doi":"10.37190/ord210403","DOIUrl":"https://doi.org/10.37190/ord210403","url":null,"abstract":"While looking for investment opportunities, investors analyse whether a potential investment will bring satisfactory returns, the level of which depends on many risk factors. That is why it is necessary to analyse the potential risks in the process of investment management. The investors need to possess knowledge of such risks, their influence on the investment, and the methods of avoiding risk. Given the scale of investments into residential property, the focus has been on the risk factors determining the return on investment, which is crucial for a large number of small investors. Identification of different kinds of risks associated with residential premises is crucial for the management of such investments and translates directly into the level of return on the investment. The increase of the investments into residential property is caused by a number of small investors who are looking for an alternative method of investing. Their funds do not bring a satisfactory level of returns while in bank deposits. Those investors recognise the opportunity which arises from renting flats. The temptation of high returns compensates the level of risk.","PeriodicalId":43244,"journal":{"name":"Operations Research and Decisions","volume":null,"pages":null},"PeriodicalIF":0.4,"publicationDate":"2020-08-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81484693","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Maryam Nematizadeh, A. Amirteimoori, S. Kordrostami, M. Vaez-Ghasemi
{"title":"Assessment of mixed network processes with shared inputs and undesirable factors","authors":"Maryam Nematizadeh, A. Amirteimoori, S. Kordrostami, M. Vaez-Ghasemi","doi":"10.37190/ord200106","DOIUrl":"https://doi.org/10.37190/ord200106","url":null,"abstract":"In the real world, there are processes whose structures are like a parallel-series mixed network. Network data envelopment analysis (NDEA) is one of the appropriate methods for assessing the performance of processes with these structures. In the paper, mixed processes with two parallel and series components are considered, in which the first component or parallel section consists of the shared inputs, and the second component or series section consists of undesirable factors. By considering the weak disposability assumption for undesirable factors, a DEA approach as based on network slackbased measure (NSBM) is introduced to evaluate the performance of processes with mixed structures. The proposed model is illustrated with a real case study. Then, the model is developed to discriminate efficient units.","PeriodicalId":43244,"journal":{"name":"Operations Research and Decisions","volume":null,"pages":null},"PeriodicalIF":0.4,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76363873","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A. Bouchentouf, Lahcene Yahiaoui, M. Kadi, Shakir Majid
{"title":"Impatient customers in Markovian queue with Bernoulli feedback and waiting server under variant working vacation policy","authors":"A. Bouchentouf, Lahcene Yahiaoui, M. Kadi, Shakir Majid","doi":"10.37190/ORD200401","DOIUrl":"https://doi.org/10.37190/ORD200401","url":null,"abstract":"This paper deals with customers’ impatience behaviour for single server Markovian queueing system under K-variant working vacation policy, waiting server, Bernoulli feedback, balking, reneging, and retention of reneged customers. Using the probability generating function (PGF) technique, we obtain the steady-state solution of the system. Besides, we prove the stochastic decomposition properties. Useful performance measures of the considered queueing system are derived. A cost model is developed. Then, the parameter optimisation is carried out numerically, using a quadratic fit search method (QFSM). Finally, numerical examples are provided to visualise the analytical results.","PeriodicalId":43244,"journal":{"name":"Operations Research and Decisions","volume":null,"pages":null},"PeriodicalIF":0.4,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87367339","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Assessment of strategic decisions of enterprises operating in international marketing in the era of modern technologies","authors":"Małgorzata Łęgowik-Małolepsza","doi":"10.37190/ord200304","DOIUrl":"https://doi.org/10.37190/ord200304","url":null,"abstract":"In the paper, the issue of assessment of strategic decisions in the company is approached, while indicating their impact on the implementation of modern technological solutions and the methods for their financing. The study is divided into two basic parts, namely theoretical and empirical. In the theoretical part, the essence of the strategy of the company is depicted, taking into account the impact of strategic decisions on the changes in the adopted strategy of the enterprise based on the literature studies. The considerations presented in the empirical part include the results of the research conducted in the multinational chemical company. The objective of the study is to learn and assess the relationships between the implementation of modern technological solutions and the effectiveness of strategic decisions on the methods for their financing. The research methods applied to accomplish the objective are literature studies, a case study and the following techniques related to analysis are used: the analysis of return on investment, and the analysis of financial leverage effect. The issue of assessment of strategic decisions is important and up-to-date due to its impact on the continuity of business operations and maintaining a competitive advantage on the market. This study is an attempt to fill the observed research gap regarding the relationships between the implementation of modern technological solutions and the effectiveness of strategic decisions on the methods for their financing.","PeriodicalId":43244,"journal":{"name":"Operations Research and Decisions","volume":null,"pages":null},"PeriodicalIF":0.4,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84094512","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"From expected utility theory to prospect theory: tracking down the experimental path after forty years","authors":"S. Kalinowski","doi":"10.37190/ORD200403","DOIUrl":"https://doi.org/10.37190/ORD200403","url":null,"abstract":"The expected utility theory axioms have been studied experimentally. Three of the experiments are a repetition of an earlier test in slightly changed circumstances, while the other two are original. The participants were incentivised with rewards, which did not happen in the replicated tests. The results confirmed the degeneration of the expected utility theory as a scientific research program. The evidence that resulted from the tests supported the hypothesis on the cumulative prospect theory predicting facts not forecasted by the EUT.","PeriodicalId":43244,"journal":{"name":"Operations Research and Decisions","volume":null,"pages":null},"PeriodicalIF":0.4,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86686290","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}