European Journal of Operational Research最新文献

{"title":"Robust valuation and optimal harvesting of forestry resources in the presence of catastrophe risk and parameter uncertainty","authors":"Ankush Agarwal, Christian Oliver Ewald, Yihan Zou","doi":"10.1016/j.ejor.2025.10.007","DOIUrl":"https://doi.org/10.1016/j.ejor.2025.10.007","url":null,"abstract":"We determine forest lease value and optimal harvesting strategies under model parameter uncertainty within stochastic bio-economic models that account for catastrophe risk. Catastrophic events are modeled as a Poisson point process, with a two-factor stochastic convenience yield model capturing the lumber spot price dynamics. Using lumber futures and US wildfire data, we estimate model parameters through Kalman filtering and maximum likelihood estimation and specify the model parameter uncertainty set as the 95% confidence region. We numerically determine the forest lease value under catastrophe risk and parameter uncertainty using reflected backward stochastic differential equations (RBSDEs) and establish conservative and optimistic bounds for lease values and optimal stopping boundaries for harvesting. Numerical experiments further explore how parameter uncertainty, catastrophe intensity, and carbon sequestration impact the lease valuation and harvesting decision. In particular, we explore the costs arising from this form of uncertainty in the form of a reduction of the lease value. These are implicit costs which can be attributed to climate risk, and are likely to become more significant as forestry resources play a larger role in the energy transition. We conclude that in the presence of parameter uncertainty, it is better to lean toward a conservative strategy reflecting, to some extent, the worst case than being overly optimistic. Moreover, our results suggest that convenience yield plays a substantial role in determining optimal harvesting strategies within the two-factor model adopted in this study.","PeriodicalId":55161,"journal":{"name":"European Journal of Operational Research","volume":"7 1","pages":""},"PeriodicalIF":6.4,"publicationDate":"2025-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145262019","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Weber problem with demand uniformly generated in discs","authors":"Pawel Kalczynski, Jack Brimberg, Zvi Drezner","doi":"10.1016/j.ejor.2025.10.006","DOIUrl":"https://doi.org/10.1016/j.ejor.2025.10.006","url":null,"abstract":"We propose a Disc-Weber (DW) problem in which demand is represented as discs rather than points. We show exact formulations of the new model, study its properties, and propose a very close approximation. The new DW problem is strictly convex, and its analytical continuous derivative exists for the entire domain when all areas (radii) are positive. Therefore, unlike the original Weber problem, it lacks non-continuous derivatives at fixed points. We solve several illustrative examples to global optimality using the exact and approximate formulations. Our analysis and experiments show that the original point-based Weber formulation underestimates the objective function when area demand is present. Furthermore, the optimal solution for point and disc representations of demand can be substantially different. We also show that the DW problem approximation results are virtually identical to its exact formulation.","PeriodicalId":55161,"journal":{"name":"European Journal of Operational Research","volume":"86 1","pages":""},"PeriodicalIF":6.4,"publicationDate":"2025-10-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145262020","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The impact of brand spillover marketing strategy on selling mode in an e-commerce platform supply chain","authors":"Peng Liu, Bin Liu, Naimeng Liu","doi":"10.1016/j.ejor.2025.09.044","DOIUrl":"https://doi.org/10.1016/j.ejor.2025.09.044","url":null,"abstract":"In recent years, to better develop private brands (PBs), some e-commerce platforms may outsource their manufacturing to the same contract manufacturer as that of the original equipment manufacturer (OEM, also called national brand manufacturer) and actively advertise this relationship to promote their PBs. By employing a Stackelberg game, this paper studies whether the platform should use such a brand spillover marketing strategy in various selling modes and how the selling modes affect the brand spillover strategy. The results show that the two types of strategies influence each other. Specifically, when the PB power is small, the platform always adopts the brand spillover strategy, which enhances the OEM’s incentives to adopt the agency mode; when the PB power is intermediate, to combat the brand spillover strategy, the OEM may adopt the reselling mode to induce the platform to choose a different contract manufacturer from that of the OEM; when the PB power is large, the platform chooses not to implement the brand spillover strategy but uses the same (different) contract manufacturer as (from) that of the OEM under the agency (reselling) mode. Furthermore, the dark side of the brand spillover strategy’s impact on the platform exists, and a higher brand spillover level causes a lower probability that the platform adopts the brand spillover strategy under the agency mode. We also check the robustness of the results by studying two more scenarios.","PeriodicalId":55161,"journal":{"name":"European Journal of Operational Research","volume":"20 1","pages":""},"PeriodicalIF":6.4,"publicationDate":"2025-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145262035","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A prudent framework for understanding risk-awareness in demand response","authors":"Liudong Chen, Bolun Xu","doi":"10.1016/j.ejor.2025.08.006","DOIUrl":"https://doi.org/10.1016/j.ejor.2025.08.006","url":null,"abstract":"We show that risk-aware behaviors in demand response originate from superquadratic state-dependent cost functions and price uncertainty with skewed distributions. We obtain such results through developing a novel theoretical demand response framework that combines non-anticipatory multi-stage decision-making with superquadratic cost functions. We introduce the concept of prudent demand, defined by a positive third-order derivative of the cost function, which is the first principle for risk-averse behavior despite a risk-neutral objective. Our analysis establishes that future price uncertainty affects immediate consumption decisions, and the extent of this response scales proportionally with the skewness of the price distribution. We visualize our theoretical findings through numerical simulations and illustrate their practical implications using a real-world case study.","PeriodicalId":55161,"journal":{"name":"European Journal of Operational Research","volume":"115 1","pages":""},"PeriodicalIF":6.4,"publicationDate":"2025-10-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145262034","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Vehicle routing problem with drones and variable service times for agricultural virus monitoring","authors":"Yuxin Li, Yu Zhang, Yanfeng Li, Xingdong Zhu","doi":"10.1016/j.ejor.2025.09.021","DOIUrl":"https://doi.org/10.1016/j.ejor.2025.09.021","url":null,"abstract":"Agricultural regions have long faced significant economic losses due to the widespread diseases, leading to decreased crop yields. Recently, many regions have adopted trucks and drones to monitor diseases. To help the managers effectively schedule these trucks and drones, this paper studies a Vehicle Routing Problem with Drones and Variable Service Times. This problem involves scheduling a fleet of trucks and drones to perform monitoring tasks, aiming to maximize the information profit collected from monitoring agricultural diseases by drones. The information profit is characterized as an exponential function of the service time, a decision variable to be optimized, in each region, leading to a Mixed-Integer Nonlinear Programming formulation. For small to medium-sized instances, a mathematical heuristic algorithm is proposed–Benders decomposition with acceleration strategies is integrated for drone routing, and a heuristic method is employed for truck routing. We also develop a specialized hybrid heuristic algorithm for large-scale instances involving an Adaptive Large Neighborhood Search. Extensive numerical experiments demonstrate the computational benefits of the acceleration strategies and the specialized hybrid heuristic algorithms, as well as the managerial advantages of considering variable service times for increasing the information profit from monitoring agricultural diseases.","PeriodicalId":55161,"journal":{"name":"European Journal of Operational Research","volume":"37 1","pages":""},"PeriodicalIF":6.4,"publicationDate":"2025-10-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145262032","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Joint pricing of default-free and defaultable claims in a reduced-form model featuring a martingale part","authors":"Frédéric Vrins","doi":"10.1016/j.ejor.2025.09.043","DOIUrl":"https://doi.org/10.1016/j.ejor.2025.09.043","url":null,"abstract":"Structural and reduced-form approaches form the main classes of default models. The second family can be classified in two sub-groups, using the shape of the Azéma supermartingale, <mml:math altimg=\"si970.svg\" display=\"inline\"><mml:mi>G</mml:mi></mml:math>. Those for which <mml:math altimg=\"si970.svg\" display=\"inline\"><mml:mi>G</mml:mi></mml:math> is continuously decreasing coincide with Cox models, and have been extensively studied and applied to many practical problems. They are handy because they display the so-called <ce:italic>immersion property</ce:italic> (also known as the <ce:italic>H hypothesis</ce:italic>) according to which, using standard notations, every <mml:math altimg=\"si3.svg\" display=\"inline\"><mml:mi mathvariant=\"double-struck\">F</mml:mi></mml:math>-martingale is a <mml:math altimg=\"si4.svg\" display=\"inline\"><mml:mi mathvariant=\"double-struck\">G</mml:mi></mml:math>-martingale. In contrast, those for which <mml:math altimg=\"si970.svg\" display=\"inline\"><mml:mi>G</mml:mi></mml:math> features a martingale part – hence, can be locally increasing – have been studied from a theoretical perspective but have been used in few applications only, in which case the adopted setup was quite sophisticated. This can be explained because of the theoretical challenges associated with the design of a market model that could accommodate both default-free and defaultable assets as well as of a lack of comprehension about how to simulate default times correlated with other risk factors in such a setup. This paper fills this gap by proposing a concrete example of arbitrage-free market model of this class and relying on the <mml:math altimg=\"si754.svg\" display=\"inline\"><mml:mi>Φ</mml:mi></mml:math>-martingale process. The latter exhibits a similar complexity as Cox but has the advantage to be automatically calibrated to a given default probability curve and CDS option quotes, easy to simulate, and able to display stronger dependence effects compared to state-of-the-art intensity models. Explicit calculations and numerical applications featuring counterparty risk and, in particular, credit valuation adjustment (CVA) with wrong-way risk, illustrate the results.","PeriodicalId":55161,"journal":{"name":"European Journal of Operational Research","volume":"80 1","pages":""},"PeriodicalIF":6.4,"publicationDate":"2025-10-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145262021","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A two-step large neighborhood search for a collaborative two-tier city logistics system","authors":"Johannes Gückel, Teodor Gabriel Crainic, Pirmin Fontaine","doi":"10.1016/j.ejor.2025.08.016","DOIUrl":"https://doi.org/10.1016/j.ejor.2025.08.016","url":null,"abstract":"The rapid transport of freight is an essential feature of modern societies and an enabling factor for economic trade and growth. Nevertheless, the negative impact of freight transportation in urban areas poses challenges for Logistics Service Providers (LSPs) as well as for municipalities. In this context, a centrally coordinated Two-Tier City Logistics System (2T-CLS), in which LSPs voluntarily agree to collaborate with each other, has the potential to reduce both economic and environmental impact costs. In order to plan such a system, it is important not only to make efficient use of the resources provided but also to have a mechanism that allocates the costs incurred to the individual LSPs. We introduce a mixed-integer linear program (MILP) formulation for the tactical planning of a 2T-CLS involving multiple LSPs that share their resources and customer demands. This MILP comprises a service network design formulation on the first tier and a vehicle routing problem formulation on the second tier, which are connected with each other. To address larger instances, we introduce an Integrative Two-Step Large Neighborhood Search with adaptive components that integrates first and second-tier decisions. In order not only to minimize the costs incurred but also to distribute them fairly, we investigate different problem-specific proportional methods, as well as more advanced game theoretical methods. Numerical experiments show that collaboration leads to average cost savings of 26.91%, which primarily stems from first-tier collaboration.","PeriodicalId":55161,"journal":{"name":"European Journal of Operational Research","volume":"37 1","pages":""},"PeriodicalIF":6.4,"publicationDate":"2025-10-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145262037","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Scheduling and routing with degradation-triggered job arrivals: An application to forest firefighting with an unmanned aerial vehicle fleet","authors":"Erdi Dasdemir, Esther Jose, Rajan Batta","doi":"10.1016/j.ejor.2025.09.019","DOIUrl":"https://doi.org/10.1016/j.ejor.2025.09.019","url":null,"abstract":"We define an intertwined scheduling and routing problem where new jobs appear due to the degradation of the existing jobs. Specifically, once a job arrives at a potential job location, a time window begins during which the demand of the job can be fulfilled. The demand degrades within the time window, and once it surpasses a particular threshold, it triggers the arrival of new jobs. Each job location inherently possesses an initial default reward, and the presence of an unprocessed job at a location gradually reduces this default value. The overall objective is to maximize the total remaining reward. The underlying motivation of this problem aligns with the proverb “a stitch in time saves nine,” and the problem itself carries practical implications. We focus on the problem in the context of aerial forest firefighting. Each ignited area has a designated action window; delaying intervention causes the fire to grow, diminishing the area’s value and causing it to spread to adjacent areas. We develop a mixed-integer programming model that maximizes value retention in wildfire-threatened regions, and a hybrid model based on dynamic constraint generation to enhance the scalability of the model. We evaluate the performance and practicality of our models through computational experiments and a case study. Additionally, we ensure the study’s reproducibility and encourage further research by providing open access to the codebase of our model.","PeriodicalId":55161,"journal":{"name":"European Journal of Operational Research","volume":"18 1","pages":""},"PeriodicalIF":6.4,"publicationDate":"2025-10-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145262036","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Strategic analysis of drugs market pathway: Regular-approval or accelerated-approval","authors":"Yanfei Lan, Jingxia Qin, Changhe Lai, Guoqing Yang","doi":"10.1016/j.ejor.2025.09.011","DOIUrl":"https://doi.org/10.1016/j.ejor.2025.09.011","url":null,"abstract":"The traditional regulatory-approval pathway (RP) for the release of new drugs requires completion of all clinical trials prior to market entry and delays patient access to innovative therapies. To expedite drug availability, regulators have introduced the accelerated-approval pathway (AP), permitting earlier market entry based on surrogate endpoints, contingent on the subsequent postmarket study to confirm drug effectiveness. When choosing pathways, firms face a tangled trade-off: RP offers a shorter sales period with no risk of withdrawal, while AP provides the potential for a longer sales period but comes with the risk of non-approval. In this study, we develop a game-theory model to investigate how competing firms choose their approval pathways. Contrary to the conventional wisdom that a more intense competition would incentivize the firm that chooses AP to invest more in postmarket study to enter the more profitable RP-market sooner, we show that the firm actually invests less due to the diminished revenue rates of the RP-market compared to the AP-market and the higher clinical burdens. We find that a more intense competition makes firm more likely choose RP and the other chooses AP. Furthermore, firms’ equilibrium approval pathway choices lead to a triple-win situation for firms and patients when the success probability is relatively low or high, whereas they harm patient surplus and social welfare when the success probability is moderate. This highlights the need for regulatory intervention to coordinate the pharmaceutical market and balance economic and public health objectives.","PeriodicalId":55161,"journal":{"name":"European Journal of Operational Research","volume":"46 1","pages":""},"PeriodicalIF":6.4,"publicationDate":"2025-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145228755","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A nonparametric least-squares model in network data envelopment analysis","authors":"Zixuan Wang, Min Yang, Liang Liang, Joe Zhu","doi":"10.1016/j.ejor.2025.09.045","DOIUrl":"https://doi.org/10.1016/j.ejor.2025.09.045","url":null,"abstract":"Data envelopment analysis (DEA) is generally used to measure the relative efficiency of decision making units (DMUs) with multiple inputs and multiple outputs when DMUs are considered as a single-stage process. Network DEA (NDEA) is developed to accommodate DMUs having a two-stage process where the outputs from the first stage become the inputs to the second stage. The current study first proposes a regression-based network sign-constrained convex nonparametric least-squares (NSCNLS) model and establishes its equivalence to the mathematical programming-based NDEA model. Subsequently, NSCNLS is integrated with stochastic frontier analysis (SFA) to develop a two-step method, referred to as network stochastic non-smooth envelopment of data (NStoNED), to account for stochastic noise in the observed data. The first step of NStoNED applies the NSCNLS with relaxed sign constraints to enable the unique estimation of each DMU’s deviation from the whole production frontier as well as its deviation from each stage’s production frontier. Given that the deviation is jointly attributable to inefficiency and stochastic noise, the second step employs SFA to estimate the expected values of the overall inefficiency and the divisional inefficiencies for each DMU. As illustrated in Monte Carlo simulations, under noisy environments, the NStoNED method achieves up to a fivefold reduction in average mean squared error (AMSE) compared to classical NDEA models. Finally, we apply the proposed NSCNLS and NStoNED methods to an empirical dataset related to information technology.","PeriodicalId":55161,"journal":{"name":"European Journal of Operational Research","volume":"120 1","pages":""},"PeriodicalIF":6.4,"publicationDate":"2025-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145262038","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}