In the CRR model we introduce a transaction cost structure which covers piecewise proportional, fixed and constant costs. For a general utility function we formulate the problem of maximizing the expected utility of terminal wealth as a Markov control problem. An existence result is given and optimal strategies can be described by solutions of the dynamic programming equation. For logarithmic u...

In the CRR model we introduce a transaction cost structure which covers piecewise proportional, fixed and constant costs. For a general utility function we formulate the problem of maximizing the expected utility of terminal wealth as a Markov control problem. An existence result is given and optimal strategies can be described by solutions of the dynamic programming equation. For logarithmic u...

due to the importance of supplier selection issue in supply chain management (scm) and ,also,  the increasing tendency of organizations to their social responsibilities, in this paper, we survey the supplier selection issue as a multi objective problem while considering the factor of corporate social responsibility (csr) as a mathematical parameter. the purpose of this paper is to design a mode...

We argue that multi-objective methods are underrepresented in RL research, and present three scenarios to justify the need for explicitly multi-objective approaches. Key to these scenarios is that although the utility the user derives from a policy — which is what we ultimately aim to optimize — is scalar, it is sometimes impossible, undesirable or infeasible to formulate the problem as single-...

We analyze pricing and protection (digital rights management) strategies in a two-echelon supply chain that consists of a manufacturer and a retailer of digital products. The demand for the legal (non-pirated) product, which depends on both price and monetary investment in protection, is assumed to be uncertain. Three different supply chain models are analyzed: manufacturer Stackelberg, retaile...

This paper develops a multiattribute preference ranking rule in the context of utility robustness. A nonparametric perturbation of a given additive reference utility function is specified to solve the problem of ambiguity and inconsistency in utility assessments, while preserving the additive structure and the decision maker’s risk preference under each criterion. A concept of robust preference...

This paper argues for a radically different approach to normative function than the dominant etiological account, an approach with a broader explanatory agenda. Concepts of biological function address two related but distinct issues: understanding biological organisms as complex organized systems, and understanding the way in which parts have come to be present in organisms because of their ada...

A robust approach should be considered when estimating regression coefficients in multi-response problems. Many models are derived from the least squares method. Because the presence of outlier data is unavoidable in most real cases and because the least squares method is sensitive to these types of points, robust regression approaches appear to be a more reliable and suitable method for addres...