Related papers: Evaluating Different Cost-Benefit Analysis Methods…
Performance improvement in supply chains, taking into account customer demand in the tactical planning process is essential. It is more and more difficult for the customers to ensure a certain level of demand over a medium term horizon as…
Statistical model checking delivers quantitative verification results with statistical guarantees by applying Monte Carlo simulation to formal models. It scales to model sizes and model types that are out of reach for exhaustive, analytical…
Technology trends as digitalization and Industry 4.0 initiate a growing demand for new business models. Most of this models requires a fundamental shift of operational and financial risks between seller and buyer. A key question is…
In this paper we propose an approach to build a decision support system that can help emergency planners and responders to detect and manage emergency situations. The internal mechanism of the system is independent from the treated…
Analytical, free of time consuming Monte Carlo simulations, framework for credit portfolio systematic risk metrics calculations is presented. Techniques are described that allow calculation of portfolio-level systematic risk measures…
Clinical prognostic models help inform decision-making by estimating a patient's risk of experiencing an outcome in the future. The net benefit is increasingly being used to assess the clinical utility of models. By calculating an…
Optimization via simulation has been well established to find optimal solutions and designs in complex systems. However, it still faces modeling and computational challenges when extended to the multi-stage setting. This survey reviews the…
Solving cybersecurity issues requires a holistic understanding of components, factors, structures and their interactions in cyberspace, but conventional modeling approaches view the field of cybersecurity by their boundaries so that we are…
In today's competitive environment, profitability analysis is not just about looking at the profit and loss statement. It is more about knowing which of your customers are making you money and which are losing you money. This paper…
In high performance computing, scheduling of tasks and allocation to machines is very critical especially when we are dealing with heterogeneous execution costs. Simulations can be performed with a large variety of environments and…
We present our approach to the problem of how an agent, within an economic Multi-Agent System, can determine when it should behave strategically (i.e. learn and use models of other agents), and when it should act as a simple price-taker. We…
Critical infrastructure systems must be both robust and resilient in order to ensure the functioning of society. To improve the performance of such systems, we often use risk and vulnerability analysis to find and address system weaknesses.…
Models to price long term loans in the securities lending business are developed. These longer horizon deals can be viewed as contracts with optionality embedded in them. This insight leads to the usage of established methods from…
Many planning and decision activities in logistics and supply chain management are based on forecasts of multiple time dependent factors. Therefore, the quality of planning depends on the quality of the forecasts. We compare various…
Researchers and practitioners have recently proposed many Microservices Architecture (MSA) patterns and strategies covering various aspects of microservices system life cycle, such as service design and security. However, selecting and…
Nested stochastic modeling has been on the rise in many fields of the financial industry. Such modeling arises whenever certain components of a stochastic model are stochastically determined by other models. There are at least two main…
Threat modeling has emerged as a key process for understanding relevant threats within businesses. However, understanding the importance of threat events is rarely driven by the business incorporating the system. Furthermore, prioritization…
Nowadays there is a large availability of discrete event simulation software that can be easily used in different domains: from industry to supply chain, from healthcare to business management, from training to complex systems design.…
The losses arising from a system being hit by cyber attacks can be staggeringly high, but defending against such attacks can also be costly. This work proposes an attack countermeasure selection approach based on cost impact analysis that…
This paper explores different methods to estimate prices paid per efficiency unit of labor in panel data. We study the sensitivity of skill price estimates to different assumptions regarding workers' choice problem, identification…