Related papers: A Simulation Approach Paradigm: An Optimization an…
Empirical software engineering is concerned with the design and analysis of empirical studies that include software products, processes, and resources. Optimization is a form of data analytics in support of human decision-making.…
This paper introduces a new computational framework to account for uncertainties in day-ahead electricity market clearing process in the presence of demand response providers. A central challenge when dealing with many demand response…
In response to the escalating need for sustainable manufacturing, this study introduces a Simulation-Based Approach (SBA) to model a stopping policy for energy-intensive stochastic production systems, developed and tested in a real-world…
Bottlenecks are one of the controversial issues in manufacturing companies. Managers and designers attempt to manage this trouble to improve efficiency in different ways. For example, expanding capacity is a prevalent solution to get rid of…
Scenario-based testing with driving simulators is extensively used to identify failing conditions of automated driving assistance systems (ADAS). However, existing studies have shown that repeated test execution in the same as well as in…
The article is devoted to the problem of applying the maximum principle for finding optimal control parameters in simulation tasks of interest for a variety of engineering and industrial systems and processes. Especially important is the…
The design of integrated mobility-on-demand services requires jointly considering the interactions between traveler choice behavior and operators' operation policies to design a financially sustainable pricing scheme. However, most existing…
Simulation is one of the most powerful tools we have for evaluating the performance of Opportunistic Networks. In this survey, we focus on available tools and models, compare their performance and precision and experimentally show the…
We consider an illiquid financial market with different regimes modeled by a continuous-time finite-state Markov chain. The investor can trade a stock only at the discrete arrival times of a Cox process with intensity depending on the…
We present an optimization-based method to plan the motion of an autonomous robot under the uncertainties associated with dynamic obstacles, such as humans. Our method bounds the marginal risk of collisions at each point in time by…
For effective matching of resources (e.g., taxis, food, bikes, shopping items) to customer demand, aggregation systems have been extremely successful. In aggregation systems, a central entity (e.g., Uber, Food Panda, Ofo) aggregates supply…
A central problem in business concerns the optimal allocation of limited resources to a set of available tasks, where the payoff of these tasks is inherently uncertain. In credit card fraud detection, for instance, a bank can only assign a…
Understanding how people view and interact with autonomous vehicles is important to guide future directions of research. One such way of aiding understanding is through simulations of virtual environments involving people and autonomous…
We study the problem of determination of asset prices in an incomplete market proposing three different but related scenarios. One scenario uses a market game approach whereas the other two are based on risk sharing or regret minimizing…
An agent-based model for firms' dynamics is developed. The model consists of firm agents with identical characteristic parameters and a bank agent. Dynamics of those agents is described by their balance sheets. Each firm tries to maximize…
Motivated by the change in mobility patterns, we present a scheduling approach for a vehicle-sharing problem, considering several alternative modes of transport, from a company viewpoint with centralized planning. We consider…
The widescale deployment of Autonomous Vehicles (AV) appears to be imminent despite many safety challenges that are yet to be resolved. It is well-known that there are no universally agreed Verification and Validation (VV) methodologies…
This paper studies the problem of maximizing expected utility from terminal wealth combining a static position in derivative securities, which we assume can be traded only at time zero, with a traditional dynamic trading strategy in stocks.…
We develop an agent-based simulation of the catastrophe insurance and reinsurance industry and use it to study the problem of risk model homogeneity. The model simulates the balance sheets of insurance firms, who collect premiums from…
We study the utility maximization problem for power utility random fields in a semimartingale financial market, with and without intermediate consumption. The notion of an opportunity process is introduced as a reduced form of the value…