Water shortage crisis is an issue that has led to drastic changes in different agricultural policies, especially in arid and semi-arid areas. Uncertainty in the amount of resources, e.g. water, used for agricultural production entails risk for farmers' income and cropping pattern changes. In the present study, the robust optimization model was used for optimal allocation of arable lands of Khor...

Public-Private-Partnership (PPP) infrastructure projects typically involve a plethora of risks. Given that many risks which are traditionally borne by the government get transferred to the private sector, careful risk allocation is considered to be the key to successful PPP projects. This paper focuses on the current risk allocation practice within Indonesia’s water supply projects. The paper c...

The allocation problem stems from the diversification effect observed in risk measurements of financial portfolios: the sum of the “risks” of many portfolios is larger than the “risk” of the sum of the portfolios. The allocation problem is to apportion this diversification advantage to the portfolios in a fair manner, yielding, for each portfolio, a risk appraisal that accounts for diversificat...

We consider the problem of dynamically apportioning resources among a set of options in a worst-case online framework. The model we investigate is a generalization of the well studied online learning model. In particular, we allow the learner to see as additional information how high the risk of each option is. This assumption is natural in many applications like horse-race betting, where gambl...

Introduction: In process industries, some of the primary events may result in secondary events in an industrial unit called the domino effect. Since refinery storage tanks are always at risk of fire and explosion, quantitative risk assessment is important in determining the severity and outcome of an accident, taking into account the effects of dominoes on the main industry, neighbors, and soci...

This paper proposes Market-based Iterative Risk Allocation (MIRA), a new market-based decentralized optimization algorithm for multiagent systems under stochastic uncertainty, with a focus on problems with continuous action and state space. In large coordination problems, from power grid management to multi-vehicle missions, multiple agents act collectively in order to maximize the performance ...

This paper develops a continuous time portfolio optimization model where the mean returns of individual securities or asset categories are explicitly affected by underlying economic factors such as dividend yields, a firm's ROE, interest rates, and unemployment rates. The factors are Gaussian processes, and the drift coefficients for the securities are aEne hnctions of these factors. We employ ...

The Parte Club Surabaya Building Renovation Project has encountered various problems. These issues arise from multiple factors, primarily due to the complex nature of structure as it involves renovating an old building. This research aims identify dominant risks and allocate responsibility for managing these most appropriate party involved. Quantitative methods were employed this study. sample ...

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