Related papers: Pricing service maintenance contracts using predic…
In the for-hire truckload market, firms often experience unexpected transportation cost increases due to contracted transportation service provider (carrier) load rejections. The dominant procurement strategy results in long-term,…
Predictive maintenance is a key strategy for ensuring the reliability and efficiency of industrial systems. This study investigates the use of supervised learning models to diagnose the condition of electric motors, categorizing them as…
We consider a profit maximization problem in an urban mobility on-demand service, of which the operator owns a fleet, provides both exclusive and shared trip services, and dynamically determines prices of offers. With knowledge of the…
The integration of renewable sources poses challenges at the operational and economic levels of the power grid. In terms of keeping the balance between supply and demand, the usual scheme of supply following load may not be appropriate for…
I analyze long-term contracting in insurance markets with asymmetric information. The buyer privately observes her risk type, which evolves stochastically over time. A long-term contract specifies a menu of insurance policies, contingent on…
Recent research increasingly integrates machine learning (ML) into predictive maintenance (PdM) to reduce operational and maintenance costs in data-rich operational settings. However, uncertainty due to model misspecification continues to…
A large fraction of the total electric load is comprised of end-use devices whose demand for energy is inherently deferrable in time. Of interest is the potential to leverage on such latent flexibility in demand to absorb variability in…
Motivated by applications where a system must remain operational via continual procurement of contracts, we study two online contract selection problems under uncertain prices. At each time step, a price drawn from a known distribution is…
Prior work has investigated variations of prediction markets that preserve participants' (differential) privacy, which formed the basis of useful mechanisms for purchasing data for machine learning objectives. Such markets required…
In many traditional job scheduling settings, it is assumed that one knows the time it will take for a job to complete service. In such cases, strategies such as shortest job first can be used to improve performance in terms of measures such…
This paper presents a dynamic pricing and energy management framework for electric vehicle (EV) charging service providers. To set the charging prices, the service providers faces three uncertainties: the volatility of wholesale electricity…
Decision-making pipelines are generally characterized by tradeoffs among various risk functions. It is often desirable to manage such tradeoffs in a data-adaptive manner. As we demonstrate, if this is done naively, state-of-the art…
Failure of mission-critical equipment interrupts production and results in monetary loss. The risk of unplanned equipment downtime can be minimized through Predictive Maintenance of revenue generating assets to ensure optimal performance…
The landscape of maintenance in distributed systems is rapidly evolving with the integration of Artificial Intelligence (AI). Also, as the complexity of computing continuum systems intensifies, the role of AI in predictive maintenance…
This paper develops maintenance policies for a system under condition monitoring. We assume that a number of defects may develop and the degradation process of each defect follows a gamma process, respectively. The system is inspected…
In recent times, advances in artificial intelligence (AI) and IoT have enabled seamless and viable maintenance of appliances in home and building environments. Several studies have shown that AI has the potential to provide personalized…
Predictive maintenance is directed towards recognizing the earliest significant changes in machinery condition. Contrasted with protective condition monitoring in which fast response is the primary requirement, predictive monitoring is not…
This paper tackles challenges in pricing and revenue projections due to consumer uncertainty. We propose a novel data-based approach for firms facing unknown consumer type distributions. Unlike existing methods, we assume firms only observe…
Connected vehicle fleets are deployed worldwide in several industrial IoT scenarios. With the gradual increase of machines being controlled and managed through networked smart devices, the predictive maintenance potential grows rapidly.…
Accurate calibration is essential for instruments whose measurements must remain traceable, reliable, and compliant over long operating periods. Fixed-interval programs are easy to administer, but they ignore that instruments drift at…