In this study, water management allocated to the agricultural sector’ was analyzed using stochastic dynamic programming under uncertainty conditions. The technical coefficients used in the study referred to the agricultural years, 2013-2014. They were obtained through the use of simple random sampling of 250 farmers in the region for crops wheat, barley, melon, watermelon and ruby grapes under ...

A new methodology, for optimal customer selection in cross-selling of financial services products, such as mortgage loans and non life insurance contracts, is presented. The optimal cross-sales selection of prospects is such that the expected profit is maximized, while at the same time the risk of suffering future losses is minimized. Expected profit maximization and mean-variance optimization ...

in the explosive growth of business to business (b2b) electronic trades, electronic markets have received a great deal of attention recently. the obtained profit of trading in e-b2b market encourage market participants to remain in the market. market participants consist of: sellers, buyers, and market owner. in this paper the expected profit function for each market participant has been define...

A wide variety of auction models exhibit close relationships between expected revenue and the secondhighest order statistic of bidders’ expected asset values. Similarly close relationships between the winner’s expected profit and the expected difference between the highest and second-highest order statistics of bidders’ information are also common. We use stochastic orderings to see when greate...

In the explosive growth of Business to Business (B2B) Electronic Trades, electronic markets have received a great deal of attention recently. The obtained profit of trading in E-B2B market encourage market participants to remain in the market. Market participants consist of: sellers, buyers, and market owner. In this paper the expected profit function for each market participant has been define...

We propose a stochastic optimization model for the Multiperiod Multiproduct Advertising Budgeting problem, so that the expected profit of the advertising investment is maximized. The model is a convex optimization problem that can readily be solved by plain use of standard optimization software. It has been tested for planning a realistic advertising campaign. In our case study, the expected pr...

This paper proposes a multi-objective bidding strategy for a generation company (GenCo) in a day-ahead uniform price spot market using non-dominated sorting particle swarm optimisation (NSPSO). NSPSO is introduced to solve the multi-objective strategic bidding problem considering expected profit maximisation and risk (profit variation) minimisation. Monte Carlo (MC) simulation is employed to si...

The two-country monetary model is extended to include a consumption externality with habit persistence. The model is simulated using the artificial economy methodology. The ‘puzzles’ in the forward market are re-examined. The model is able to account for (a) the low volatility of the forward discount (b) the higher volatility of expected forward speculative profit (c) the even higher volatility...