Related papers: System Availability Optimization: Integrating Quan…
Linearized models of power systems are often desirable to formulate tractable control and optimization problems that still reflect real-world physics adequately under various operating conditions. In this paper, we propose an approach that…
In several applications of real-time matching of demand to supply in online marketplaces, the platform allows for some latency to batch the demand and improve the efficiency. Motivated by these applications, we study the optimal trade-off…
While load balancing in distributed-memory computing has been well-studied, we present an innovative approach to this problem: a unified, reduced-order model that combines three key components to describe "work" in a distributed system:…
Service platforms must determine rules for matching heterogeneous demand (customers) and supply (workers) that arrive randomly over time and may be lost if forced to wait too long for a match. Our objective is to maximize the cumulative…
Suppose there are $n$ Markov chains and we need to pay a per-step \emph{price} to advance them. The "destination" states of the Markov chains contain rewards; however, we can only get rewards for a subset of them that satisfy a…
Mixed-Criticality (MC) systems consolidate multiple functionalities with different criticalities onto a single hardware platform. Such systems improve the overall resource utilization while guaranteeing resources to critical tasks. In this…
Supply chains are fundamental to the economy of the world and many supply chains focus on perishable items, such as food, or even clothing that is subject to a limited shelf life due to fashion and seasonable effects. G-networks have not…
This paper concerns the mechanism design for online resource allocation in a strategic setting. In this setting, a single supplier allocates capacity-limited resources to requests that arrive in a sequential and arbitrary manner. Each…
We consider a market in which both suppliers and consumers compete for a product via scalar-parameterized supply offers and demand bids. Scalar-parameterized offers/bids are appealing due to their modeling simplicity and desirable…
We consider the problem of designing an expected-revenue maximizing mechanism for allocating multiple non-perishable goods of $k$ varieties to flexible consumers over $T$ time steps. In our model, a random number of goods of each variety…
In the context of the rapid development of digital supply chain networks, dealing with the increasing cybersecurity threats and formulating effective security investment strategies to defend against cyberattack risks are the core issues in…
In recent years, offloading mobile traffic through Wi-Fi has emerged as a potential solution to lower down the communication cost for mobile users. Users hope to reduce the cost while keeping the delay in an acceptable range through Wi-Fi…
For online resource allocation problems, we propose a new demand arrival model where the sequence of arrivals contains both an adversarial component and a stochastic one. Our model requires no demand forecasting; however, due to the…
We consider a dynamic system with multiple types of customers and servers. Each type of waiting customer or server joins a separate queue, forming a bipartite graph with customer-side queues and server-side queues. The platform can match…
In the context of industrial engineering, cold-standby redundancies allocation strategy is usually adopted to improve the reliability of coherent systems. This paper investigates optimal allocation strategies of cold standbys for series and…
Bike-sharing systems are emerging in various cities as a new ecofriendly transportation system. In these systems, spatiotemporally varying user demands lead to imbalanced inventory at bicycle stations, resulting in additional relocation…
This paper studies optimal market making for large-tick assets in the presence of latency. We consider a random walk model for the asset price, and formulate the market maker's optimization problem using Markov Decision Processes (MDP). We…
We consider a sequential decision model over multi-tier supply chain networks and show that in particular, for series parallel networks, there is a unique equilibrium. We provide a linear time algorithm to compute the equilibrium and study…
Mixed-criticality real-time scheduling has been developed to improve resource utilization while guaranteeing safe execution of critical applications. These studies use optimistic resource reservation for all the applications to improve…
We propose a framework for studying optimal market making policies in a limit order book (LOB). The bid-ask spread of the LOB is modelled by a Markov chain with finite values, multiple of the tick size, and subordinated by the Poisson…