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Dynamic Version (dynamic + version)

Distribution by Scientific Domains

Business, Economics, Finance and Accounting	57%

Selected Abstracts

Hierarchical multiobjective routing in Multiprotocol Label Switching networks with two service classes: a heuristic solution

INTERNATIONAL TRANSACTIONS IN OPERATIONAL RESEARCH, Issue 3 2009
Rita Girão-Silva
Abstract Modern multiservice network routing functionalities have to deal with multiple, heterogeneous and multifaceted Quality of Service (QoS) requirements. A heuristic approach devised to find "good" solutions to a hierarchical multiobjective alternative routing optimization problem in Multiprotocol Label Switching networks with two service classes (and different types of traffic flows in each class), namely QoS and Best Effort services, formulated within a hierarchical network-wide optimization framework, is presented. This heuristic solution is based on a bi-objective constrained shortest path model and is applied to a test network used in a benchmarking case study. An experimental study based on analytic and discrete event simulation results is presented, allowing for an assessment of the quality of results obtained with this new heuristic solution for various traffic matrices. A dynamic version of the routing method is formulated and its performance with the same case study network is analysed. [source]

Dynamic Insurance Contracts and Adverse Selection

JOURNAL OF RISK AND INSURANCE, Issue 1 2005
Maarten C. W. Janssen
We take a dynamic perspective on insurance markets under adverse selection and study a dynamic version of the Rothschild and Stiglitz model. We investigate the nature of dynamic insurance contracts by considering both conditional and unconditional dynamic contracts. An unconditional dynamic contract has insurance companies offering contracts where the terms of the contract depend on time, but not on the occurrence of past accidents. Conditional dynamic contracts make the actual contract also depend on individual past performance (such as in car insurances). We show that dynamic insurance contracts yield a welfare improvement only if they are conditional on past performance. With conditional contracts, the first-best can be approximated if the contract lasts long. Moreover, this is true for any fraction of low-risk agents in the population. [source]

The effectiveness of the longest delivery time rule for the flow shop delivery time problem

NAVAL RESEARCH LOGISTICS: AN INTERNATIONAL JOURNAL, Issue 3 2003
Philip Kaminsky
Abstract In the flow shop delivery time problem, a set of jobs has to be processed on m machines. Every machine has to process each one of the jobs, and every job has the same routing through the machines. The objective is to determine a sequence of the jobs on the machines so as to minimize maximum delivery completion time over all the jobs, where the delivery completion time of a job is the sum of its completion time, and the delivery time associated with that job. In this paper, we prove the asymptotic optimality of the Longest Delivery Time algorithm for the static version of this problem, and the Longest Delivery Time among Available Jobs (LDTA) algorithm for the dynamic version of this problem. In addition, we present the result of computational testing of the effectiveness of these algorithms. © 2003 Wiley Periodicals, Inc. Naval Research Logistics, 2003 [source]

Maximizing profits and conserving stocks in the Australian Northern Prawn Fishery

AUSTRALIAN JOURNAL OF AGRICULTURAL & RESOURCE ECONOMICS, Issue 3 2010
Tom Kompas
The Australian Northern Prawn Fishery (NPF) is one of the few that has adopted a dynamic version of a ,maximum economic yield' (MEY) target, and, on this basis, the fishery is undergoing a process of substantial stock rebuilding. This study details the bioeconomic model used to provide scientific management advice for the NPF, in terms of the amount of allowable total gear length in the fishery, for both the MEY target and the path to MEY. It combines the stock assessment process for two species of tiger prawns with a specification for discounted economic profits, where the harvest function in the profit equation is stock-dependent. Results for the NPF show a substantial ,stock effect', indicating the importance of conserving fish stocks for profitability. MEY thus occurs at a stock size that is larger than that at maximum sustainable yield, leading to a ,win-win' situation for both the industry (added profitability) and the environment (larger fish stocks and lower impact on the ecosystem). Sensitivity results emphasize this effect by showing that the MEY target is much more sensitive to changes in the price of prawns and the cost of fuel, and far less so to the rate of discount. [source]

On durable goods markets with entry and adverse selection

CANADIAN JOURNAL OF ECONOMICS, Issue 3 2004
Maarten Janssen
The model is a dynamic version of Akerlof (1970). Identical cohorts of durable goods, whose quality is known only to potential sellers, enter the market over time. We show that there exists a cyclical equilibrium where all goods are traded within a finite number of periods after entry. Market failure is reflected in the length of waiting time before trade. The model also provides an explanation of market fluctuations. JEL classification: D82 A propos des marchés de biens durables quand il y a entrée de nouveaux commerçants et sélection adverse., Les auteurs analysent la nature du commerce et du triage engendrés par le mécanisme dynamique des prix dans un marché concurrentiel de biens durables quand il y a sélection adverse et entrée exogène de nouveaux commerçants dans le temps. Ce modèle est une version dynamique du modèle d'Akerlof (1970). Des cohortes identiques de biens durables, dont la qualité est connue seulement des vendeurs potentiels, arrivent sur le marché dans le temps. Il semble qu'il y ait plus de commerce actif que ce qui est prévu par un modèle statique. En particulier, on montre qu'il existe un équilibre cyclique où tous les biens sont transigés à l'intérieur d'un nombre fini de périodes après leur arrivage et que, à chaque phase du cycle, l'éventail de qualité des biens transigés s'accroît. Les commerçants qui transigent des produits de plus haute qualité attendent plus longtemps et l'imperfection du marché se traduit par la longueur de temps d'attente avant la transaction. Le modèle fournit aussi une explication des fluctuations du marché. [source]

A dynamic approach for evaluating parameters in a numerical method

INTERNATIONAL JOURNAL FOR NUMERICAL METHODS IN ENGINEERING, Issue 1 2005
A. A. Oberai
Abstract A new methodology for evaluating unknown parameters in a numerical method for solving a partial differential equation is developed. The main result is the identification of a functional form for the parameters which is derived by requiring the numerical method to yield ,optimal' solutions over a set of finite-dimensional function spaces. The functional depends upon the numerical solution, the forcing function, the set of function spaces, and the definition of the optimal solution. It does not require exact or approximate analytical solutions of the continuous problem, and is derived from an extension of the variational Germano identity. This methodology is applied to the one-dimensional, linear advection,diffusion problem to yield a non-linear dynamic diffusivity method. It is found that this method yields results that are commensurate to the SUPG method. The same methodology is then used to evaluate the Smagorinsky eddy viscosity for the large eddy simulation of the decay of homogeneous isotropic turbulence in three dimensions. In this case the resulting method is found to be more accurate than the constant-coefficient and the traditional dynamic versions of the Smagorinsky model. Copyright © 2004 John Wiley & Sons, Ltd. [source]

Infants' Attention to Patterned Stimuli: Developmental Change From 3 to 12 Months of Age

CHILD DEVELOPMENT, Issue 3 2006
Mary L. Courage
To examine the development of look duration as a function of age and stimulus type, 14- to 52-week-old infants were shown static and dynamic versions of faces, Sesame Street material, and achromatic patterns for 20 s of accumulated looking. Heart rate was recorded during looking and parsed into stimulus orienting, sustained attention, and attention termination phases. Infants' peak look durations indicated that prior to 26 weeks there was a linear decrease with age for all stimuli. Older infants' look durations continued to decline for patterns but increased for Sesame Street and faces. Measures of heart rate change during sustained attention and the proportion of time spent in each phase of attention confirmed infants' greater engagement with the more complex stimuli. [source]