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  • Key words:Foreign exchange rates, intra-daily, heterogeneous, distribution ¶JEL classification:F31, G15, E44 ¶Mathematics Subject Classification (1991):90-02, 62-07, 62P20  (1)
  • cost minimization  (1)
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  • 1
    Electronic Resource
    Electronic Resource
    Springer
    International journal of flexible manufacturing systems 7 (1995), S. 127-146 
    ISSN: 1572-9370
    Keywords: closed queueing network model ; asymptotic bound analysis ; equipment selection ; cost minimization
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mechanical Engineering, Materials Science, Production Engineering, Mining and Metallurgy, Traffic Engineering, Precision Mechanics
    Notes: Abstract This paper presents a mathematical programming model to help select equipment for a flexible manufacturing system, i.e., the selection of the types and numbers of CNC machines, washing stations, load/unload stations, transportation vehicles, and pallets. The objective is to minimize equipment costs and work-in-process inventory cost, while fulfilling production requirements for an average period. Queueing aspects and part flow interactions are considered with the help of a Jacksonian-type closed queueing network model in order to evaluate the system's performance. Since the related decision problem of our model can be shown to be NP-complete, the proposed solution procedure is based on implicit enumeration. Four bounds are provided, two lower and two upper bounds. A tight lower bound is obtained by linearizing the model through the application of asymptotic bound analysis. Furthermore, asymptotic bound analysis allows the calculation of a lower bound for the number of pallets in the system. The first upper bound is given by the best feasible solution and the second is based on the anti-starshaped form of the throughput function.
    Type of Medium: Electronic Resource
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  • 2
    ISSN: 1432-1122
    Keywords: Key words:Foreign exchange rates, intra-daily, heterogeneous, distribution ¶JEL classification:F31, G15, E44 ¶Mathematics Subject Classification (1991):90-02, 62-07, 62P20
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract. This paper presents stylized facts concerning the spot intra-daily foreign exchange markets. It first describes intra-daily data and proposes a set of definitions for the variables of interest. Empirical regularities of the foreign exchange intra-daily data are then grouped under three major topics: the distribution of price changes, the process of price formation and the heterogeneous structure of the market. The stylized facts surveyed in this paper shed new light on the market structure that appears composed of heterogeneous agents. It also poses several challenges such as the definition of price and of the time-scale, the concepts of risk and efficiency, the modeling of the markets and the learning process.
    Type of Medium: Electronic Resource
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