The decision rule approach to optimization under uncertainty: methodology and applications

Dynamic decision-making under uncertainty has a long and distinguished history in operations research. Due to the curse of dimensionality, solution schemes that naïvely partition or discretize the support of the random problem parameters are limited to small and medium-sized problems, or they require restrictive modeling assumptions (e.g., absence of recourse actions). In the last few decades, several solution techniques have been proposed that aim to alleviate the curse of dimensionality. Amongst these is the decision rule approach, which faithfully models the random process and instead approximates the feasible region of the decision problem. In this paper, we survey the major theoretical findings relating to this approach, and we investigate its potential in two applications areas

The economic notion of trust

It is apprehended that the human element of trust is becoming the number one asset for the financial organisations. And since trust is a matter of relationships, financial organisations need to create, expand and maintain consumer trust for communication, transactions and payments. Financial institutions are known for their ability to cultivate long-standing relationships with their clients based on integrity and trust. And as we move towards electronic-based transactions, there is the need to explore the factor of trust in order to identify how financial organizations are shaped in the future and what issues are raised. Trust always affects two measurable outcomes: speed and cost and there are essentially two mechanisms that lead to economic notions of trust, the one is based on repeated interaction the other one is based on beliefs. The ultimate goal is to engage online commerce users quickly and establish and preserve strategic trust under challenging situations. In the ecommerce context, based on the target, the study of trust can be categorized as macro-level or micro-level. The macro-level study of trust deals with what called institution-based trust and the micro-level study of trust is different from the macro-level study in that the target of the former is an individual e-business. The research questions that are brought in the surface are: what exactly is trust in the on-line environment? What are the sources of trust? Is there more than one form of trust? Is it a static or dynamic phenomenon etc. The paper will try to explore, examine, and describe the methods for estimating the economic value of trust (cost of developing trust, maintaining trust and trust failure), the impacts of trust on e -economy (general finding) and how trustworthy financial organizations are created and finally financial organizations benefit from trust

Sustainable Development of the Hydrological Basin of Lake Koronia using Mathematical Programming and Statistical Analysis

Lake Koronia, a Ramsar site in northern Greece, has experienced pronounced ecosystem degradation over the past 30 years associated with water level reduction and nutrient loading from agricultural and industrial activities as a result of poor management. The present study focuses on the delivery of a sustainable plan for theoretical and potentially in practice achievable water balance of the watershed of Lake Koronia and rational water resource management of the area. The use of mathematical modelling can assist in making the right decisions with respect to the water management as the increased complexity due to many factors affecting the water balance are impending the derivation of a suitable policy to address the problems. An optimisation model that takes into account all available investment options to allow restoration of the lake to a sustainable level and determines the best portfolio of investment and operating policies to ensure ecosystem recovery while maintaining the financial stability of the area is proposed. © 2012 Elsevier B.V

Greek Toponymy Wine Labels

Greek wine labels that named after the toponymy of the vineyardTHIS DATASET IS ARCHIVED AT DANS/EASY, BUT NOT ACCESSIBLE HERE. TO VIEW A LIST OF FILES AND ACCESS THE FILES IN THIS DATASET CLICK ON THE DOI-LINK ABOV

MINLP Interface Specification

International audienc