In this 50th anniversary year of the Universal Declaration of Human Rights (UDHR) it is appropriate to call for fairness in the allocation of resources to prevail on behalf of extremelylow-birth-weight (ELBW) infants weighing between 800 and 1 000 g or of a gestational age (GA) of 27 28 weeks. The Writing Group for the Consortium for Health and Human Rights recently invited institutions that te...

An investigation of the limiting behavior of a risk capital allocation rule based on the Conditional Tail Expectation (CTE) risk measure is carried out. More specifically, with the help of general notions of Extreme Value Theory (EVT), the aforementioned risk capital allocation is shown to be asymptotically proportional to the corresponding Value-at-Risk (VaR) risk measure. The existing methodo...

There is a growing interest around the utilisation of cloud computing in education. As organisations involved in the area typically face severe budget restrictions, there is a need for cost optimisation mechanisms that explore unique features of digital learning environments. In this work, we introduce a method based on Maximum Likelihood Estimation that considers heterogeneity of IT infrastruc...

Affordable housing is of much importance for Chinese subsidized housing. However, the implementation of the affordable housing policy is facing several problems. One crucial problem is that the current policy cannot effectively identify high-income applicants who are not qualified to apply for affordable housing. Based on the theory of incentive mechanism design, this paper reveals that the cur...

A dynamic spatial model is constructed where there is a role for money and for centralized payments arrangements, and where there are aggregate fluctuations driven by fluctuations in aggregate productivity. With decentralized monetary exchange and no centralized payments arrangements, there is price level indeterminacy, and the equilibrium allocation is inefficient. A private clearinghouse arra...

The yard allocation problem (YAP) is a real-life resource allocation problem faced by the Port of Singapore Authority (PSA). As the problem is NP-hard, we propose an effective meta-heuristic procedure, named critical-shaking neighborhood search. Extensive experiments have shown that the new method can produce higher quality solutions in a much shorter time, as compared with other meta-heuristic...

Ordinal optimization has emerged as an efficient technique for simulation and optimization, converging exponentially in many cases. In this paper, we present a new computing budget allocation approach that further enhances the efficiency of ordinal optimization. Our approach intelligently determines the best allocation of simulation trials or samples necessary to maximize the probability of ide...

An area supervisor managing an area chain of local urban retail stores faces the problem of determining the number of employees and allocating them to retail stores (workforce size and its allocation). We propose a model to maximize the overall expected profit rate of a coordinated area chain where employee absenteeism is uncertain. Retail stores operate as a Markovian loss queueing system. An ...

The costs of operational risk refer to the capital needed to cover the losses generated by a firm’s ordinary activities. In this paper several capital allocation principles are examined to demonstrate how such principles can be used to distribute aggregated capital across the various constituents that generate operational risk. Proportional allocation, for example, allows a cost per unit to be ...

In recent years management of customer requirements has been the foremost concern of most manufacturers. In this paper, we consider a single-period problem in which the manufacturer faces stochastic demand and individual service level constraints from multiple customers. We present a formulation for the problem that utilizes the structure of the underlying allocation problem and provide an algo...