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More precisely, we contrast the problems of pricing a network or a product line, in order to achieve maximum revenue, given that customers maximize their individual utility. ... He is a leading expert in both the theory and practice of bilevel programming and in the development of global algorithms for non-convex optimization. ... Moreover, a greedy heuristic approach yielded very poor results. ...doi:10.1057/rpm.2009.39 fatcat:r6rvm6crtffrjndkeeymlcde2m
In addition, commodity purchases require lead-time considerations for delivery of the commodities prior to use. ... In the extant Operations Management literature, two primary approaches have been developed to address the commodity procurement problem. ...doi:10.1016/j.ijpe.2014.09.010 fatcat:d5bclcnsvjfznh3rsl7lgapu4q
The bid evaluation problem faced by the procurer is to determine how much of each commodity to buy from each of the suppliers so as to minimize the total purchase price. ... The total amount paid to a supplier is the sum of the prices charged for the individual commodities. ... On the whole, the shortcomings of the first approach are easier to rectify and hence we decided on the commodity-point-of-view approach. ...doi:10.1007/s10732-005-0389-y fatcat:nyr43ohjl5agnl2iiokiahizxq
AbstractÐThe traveling purchaser problem (TPP) is an interesting generalization of the well-known traveling salesman problem (TSP), in which a list of commodity items have to be purchased at some markets ... Therefore, many heuristic solution procedures, including the Search algorithm, the Generalized-Savings algorithm, the Tour-Reduction algorithm, and the Commodity-Adding algorithm have been proposed to ... AcknowledgementsÐThe authors would like to thank the anonymous referees for their careful reading of the paper and several suggestions which improved the paper. ...doi:10.1016/s0305-0548(98)00032-x fatcat:ywhcivm4ordezdpjc2l26hfzmy
After that, we further modify PRUB to propose a heuristic, Algorithm PRUB+IF, for obtaining feasible solutions more effciently on larger instances. ... To tackle the revenue maximization problem, we first introduce a strategic searching algorithm, referred to as Algorithm PRUB, which is able to derive the optimal solutions. ... If f purchases the commodity, c's valuation is increased to $3 + F (1) = $4. ...arXiv:1505.06286v1 fatcat:da22zsrmyrhztdd644pzuigcsu
Factor necessity of need proved to be significant for decision making about the purchase of all commodities with the exception of alcoholic drinks and tobacco and recreation. ... The main aim of the article is to understand the influence of factors biasing purchase decisions connected with measurement of consumers' involvement. ... (7.30). it is a commodity with prevailing extensive purchase behaviour with a high involvement of buyers and a high level of the need of information about a product ( Figure 5) . ...doi:10.17221/283-agricecon fatcat:5gexb2ajrrhajdczjkamfmtf2a
Operations Research Proceedings
A deterministic mixed integer programming approach is difficult due to the underlying capacitated multi-commodity network flow model and the need to consider a time-space network to ensure operational ... In this paper we propose three approaches: solve a deterministic mixed integer program optimally; solve stochastic programs to obtain robust bounds on the solution; and, study alternative solutions to ... Scenario-scaping Heuristic An alternative approach is to develop an understanding of when alternate solutions would become optimal. ...doi:10.1007/978-3-642-29210-1_49 dblp:conf/or/BurtP11 fatcat:lx7zd2kjmfd6xg26wpxqqx6mua
The macro-architecture consists of two levels: the first is a commodity-based demand model that simulates goods movement in terms of quantity from wholesalers to end consumers through retailers; the second ... can shift from a One-to-One Problem (OOP) to a Vehicle Routing Problem (VRP) that simulates the delivery process. ... Here, we propose a demand commodity-based model, which simulates the quantity of goods purchased by a retailer. There are various models and methods to analyse urban goods movements. ...doi:10.1016/j.sbspro.2010.04.046 fatcat:ajowlcsykvbnte3xejacq6f7hi
Scope and purpose In the traveling purchaser problem an agent must visit a set of outlets in order to satisfy at minimum cost demand requirement for given products. ... This study extends some known heuristics and presents some new ones capable of solving either version of the problem. The new heuristics are compared to each other and to some previous heuristics. ... Thanks are also due to the referees for their valuables comments. ...doi:10.1016/s0305-0548(02)00020-5 fatcat:i64q723hkzfq7afdrx5blqm5mm
The Journal of Conflict Resolution
The economic model is used heuristically to further the explication of Miller’s model. ... As a family of curves, they constitute the hypothetical preference map of an individual for commodities A VOLUME II NUMBER 4 ...
Using the state-of-the-art operations research literature as a guide, we conclude by pointing to future research directions to improve both the modeling and solution outcomes for practical application ... Within the scope of both the ESP and related problems, we outline modeling and solution approaches. ... The key to this approach is to devise efficient heuristics for adding columns to the model. ...doi:10.1287/inte.2013.0732 fatcat:7llqg3pudnaanaxg36hai4djpu
We study a location-inventory problem in a three level supply chain network under uncertainty, which leads to risk. The (r,Q) inventory control policy is applied for this problem. ... The model is formulated as a multi-objective mixed-integer nonlinear programming in order to minimize the expected total cost of such a supply chain network comprising location, procurement, transportation ... unit c from supplier i under scenario s φ j'cs : purchase cost of a commodity unit c from supplier j under scenario s C ijcs : transportation cost from supplier i to distributor j for each commodity unit ...doi:10.5267/j.ijiec.2012.10.004 fatcat:g7hknlizujd5vjvi5pmlkm5rgm
In sum, the theoretical approach has proved valuable to a formal conceptualization of trip chaining. ... A third stage of the research is to get closer to reality by investigating a many-commodity, many-firm world in which firms are allowed to differ in location, assortment of commodities, and charged prices ...
Our first heuristic, IterLP, achieves revenue close to 99% of the optimal solution, achieving this result in a very short time. ... To determine the optimality of our solutions, we map the optimal allocation problem into a multiple choice multidimensional knapsack problem that approaches optimality as we increase the number of bandwidth ... A demand function, ) ( p x , defines the demand for a commodity that will result if the price for the commodity is p. ...doi:10.1109/broadnets.2006.4374380 dblp:conf/broadnets/ShelfordSM06 fatcat:fdfxuirntzb5ffptbnsgiotw44
Our results reveal that a very broad range of simple heuristic allocation schemes offers similar diversification gains, as well-established or recently developed portfolio optimization approaches. ... We thus suggest easy-to-implement allocation guidelines for individual investors. ... Among the heuristic approaches, the standard approach of a market-weighted stock portfolio appears to be less successful than an equally-weighted portfolio or a fundamentally-weighted portfolio. ...doi:10.1016/j.finmar.2013.07.004 fatcat:gsu5svt26ra4hab4wycwzovp5y
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