Revenue management has become an important tool in the airline, hotel, and rental car industries. We describe asymptotic properties of revenue management policies derived from the solution of a deterministic optimization problem. Our primary results state that, within a stochastic and dynamic framework, solutions arising out of a single well-known linear program can be used to generate allocati...

We consider a simple supply chain in which a single supplier sells to several downstream retailers. The supplier has limited capacity, and retailers are privately informed of their optimal stocking levels. If retailer orders exceed available capacity, the supplier allocates capacity using a publicly known allocation mechanism, a mapping from retailer orders to capacity assignments. We show that...

Adaptive decision making requires selecting an action and then monitoring its consequences to improve future decisions. The neuronal mechanisms supporting action evaluation and subsequent behavioral modification, however, remain poorly understood. To investigate the contribution of posterior cingulate cortex (CGp) to these processes, we recorded activity of single neurons in monkeys performing ...

The design of tandem production systems has been well studied in the literature with the primary focus being on how to improve their eciency. Considering the large costs associated, a slight improvement in eciency can lead to very signi®cant savings over its life. Division of work and allocation of bu€er capacities between workstations are two critical design problems that have attracted the ...

The behavior of institutional investors in money market securities, as exemplified by changes in assets allocated to money market mutual funds, is examined using a unique transaction data set and partial adjustment framework in order to validate fund managers and traders expectations. Individual transaction data is aggregated and separated into a low and high frequency component. The low freque...

CCTV-based behavior recognition systems have gained considerable attention in recent years in the transportation surveillance domain for identifying unusual patterns, such as traffic jams, accidents, dangerous driving and other abnormal behaviors. In this paper, a novel approach for traffic behavior modeling is presented for video-based road surveillance. The proposed system combines the pachin...

Manufacturing enterprises must face increasingly difficult production environments. External factors such as varying product variants and varying quantities as well as internal factors such as reworking and resource breakdowns pose a high challenge for task allocation and control. Inspired by the similarity between ant foraging behavior model and task allocation in manufacturing system, a phero...

Modern programming languages such as Java are increasingly being used to write systems programs. By “systems programs,” we mean programs that provide critical services (compilers), are long-running (Web servers), or have time-critical aspects (databases or query engines). One of the requirements of such programs is predictable behavior. Unfortunately, predictability is often compromised by the ...

In a parallel environment, where processes reside on diierent processors and work on the same computation, data allocation plays a signiicant role in the completion time. Data allocation depends on the way software is partitioned; therefore, both the data and software should be considered together to achieve a global optimization. In this paper, we present an algorithm that produces the optimum...