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  • Articles  (13,588)
  • Springer  (13,588)
  • 1995-1999  (12,850)
  • 1955-1959  (738)
  • Economics  (13,588)
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  • Articles  (13,588)
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  • 1
    Electronic Resource
    Electronic Resource
    Introductory note (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 7-8 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01098955
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  • 2
    Electronic Resource
    Electronic Resource
    Editor's note (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 5-5 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01098954
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  • 3
    Electronic Resource
    Electronic Resource
    Non-expected utility and the robustness of the classical insurance paradigm (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 9-50 
    Details
    ISSN: 1554-9658
    Keywords: insurance ; risk sharing ; non-expected utility
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper uses the tools and techniques of generalized expected utility analysis to explore the robustness of some of the classical basic results in insurance theory to departures from the expected utility hypothesis on agents' risk preferences. The areas explored consist of individual demand for coinsurance and deductible insurance, the structure of Pareto-efficient bilateral insurance contracts, the structure of Pareto-efficient multilateral risk-sharing agreements, and self-insurance and self-protection. Most, though not all, of the basic results in this area are found to be quite robust to dropping the expected utility hypothesis.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01098956
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  • 4
    Electronic Resource
    Electronic Resource
    Non-expected utility and the robustness of the classical insurance paradigm: Discussion (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 51-56 
    Details
    ISSN: 1554-9658
    Keywords: non-expected utility ; insurance economics
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper discusses some aspects of the robustness of the classical insurance paradigm with respect to departures from the independence axiom of expected utility theory. The discussion focuses on the significance of the distinction between risk aversion and outcome convexity and the role of smoothness of the preferences in non-expected-utility analysis of insurance.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01098957
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  • 5
    Electronic Resource
    Electronic Resource
    The comparative statics of deductible insurance in expected- and non-expected-utility theories (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 57-72 
    Details
    ISSN: 1554-9658
    Keywords: deductible insurance ; non-expected utility theory
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper identifies comparative statics results for insurance contracts that distinguish between various models of decision making under risk—specifically, expected utility, rank-dependent expected utility, and weighted utility. Insurance contracts offer full coverage above a deductible. Firms offer premium schedules that give the premium charged as a function of the deductible; households choose both an insurance company and a deductible to maximize utility. A competitive equilibrium requires zero expected profit for firms. We identify changes in the distribution of losses such that the optimal deductible increases for utility representations in a particular class but decreases for some representations outside that class. We give results both for the demand for insurance, as well as for the equilibrium contract.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01098958
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  • 6
    Electronic Resource
    Electronic Resource
    Risk-aversion concepts in expected- and non-expected-utility models (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 73-91 
    Details
    ISSN: 1554-9658
    Keywords: increasing risk ; risk aversion ; non-expected utility
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract The non-expected-utility theories of decision under risk have favored the appearance of new notions of increasing risk like monotone increasing risk (based on the notion of comonotonic random variables) or new notions of risk aversion like aversion to monotone increasing risk, in better agreement with these new theories. After a survey of all the possible notions of increasing risk and of risk aversion and their intrinsic definitions, we show that contrary to expected-utility theory where all the notions of risk aversion have the same characterization (u concave), in the framework of rank-dependent expected utility (one of the most well known of the non-expectedutility models), the characterizations of all these notions of risk aversion are different. Moreover, we show that, even in the expected-utility framework, the new notion of monotone increasing risk can give better answers to some problems of comparative statics such as in portfolio choice or in partial insurance. This new notion also can suggest more intuitive approaches to inequalities measurement.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01098959
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  • 7
    Electronic Resource
    Electronic Resource
    Government action, biases in risk perception, and insurance decisions (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 93-110 
    Details
    ISSN: 1554-9658
    Keywords: risk perception ; insurance ; moral hazard ; information
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Biases in risk perception potentially have a large effect on insurance and risk-related behavior. The government can alter these perceptions either through informational programs or controlling the risk. Policies that convey a higher risk level generally have the expected effects on insurance and protective actions, whereas efforts that increase the precision of either the government risk information or private beliefs typically have ambiguous effects. In some cases, the structure of how government policies enter the risk-belief function is consequential. Ascertaining the magnitude of the effects, not simply the direction, also is an important issue. For example, misperceptions have a dramatic effect on the tradeoffs between compensating differentials and the size of the loss but a negligible effect on the tradeoff between compensating differentials and the magnitude of the probability.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01098960
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  • 8
    Electronic Resource
    Electronic Resource
    A comparison of the estimates of expected utility and non-expected-utility preference functionals (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 111-133 
    Details
    ISSN: 1554-9658
    Keywords: expected utility ; non-expected-utility ; experiments ; pairwise choice ; complete ranking
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper extends the literature on the estimation of expected utility and non-expected-utility preference functionals (and the consequent exploration of the superiority of non-expected-utility over expected utility preference functionals) to a comparison of two different ways (pairwise choice and complete ranking) of experimentally obtaining data on such preferences. What is revealed is that the magnitude of the subject error is clearly conditional on the elicitation method used and, rather alarmingly, that the preference functional apparently employed by the subject may also be conditional on the elicitation method.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01098961
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  • 9
    Electronic Resource
    Electronic Resource
    Functional form problems in modeling insurance and gambling (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 135-150 
    Details
    ISSN: 1554-9658
    Keywords: non-expected utility ; gambling ; insurance ; functional form problems ; risky activities in the national accounts ; state contingent commodities
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Defining the outputs of the property insurance and gambling sectors of an economy has proved to be a difficult problem for national income accountants. It is well known that the traditional expected-utility model is not consistent with economic agents fully insuring their property. Thus the present paper adapts existing non-expected-utility theories to yield useful measures of output for the property insurance and gambling sectors.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01098962
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  • 10
    Electronic Resource
    Electronic Resource
    Insurance and catastrophes (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 157-175 
    Details
    ISSN: 1554-9658
    Keywords: catastrophe ; insurance ; moral hazard ; copayment ; experience rating ; distribution distortion
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Catastrophes provide a principal justification for insurance. Traditional conceptions of catastrophes miss three critical elements. (1) Many catastrophes-the liability revolution in the United States, for example-are not bolts from the blue. Rather, they develop over many years and result from human activity. (2) Conventional, experiencedbased models for assessing losses often smudge the distinction, so critical for catastrophes, between probability and magnitude of loss. (3) Normal insurance contracts, with heavy copayments for small losses but little charge at the margin for large ones, perform poorly when the insured can tradeoff probability and size of loss-a phenomenon we label distribution distortion. The structures of optimal insurance contracts are assessed.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01258392
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  • 11
    Electronic Resource
    Electronic Resource
    Insurance and Catastrophes: Comment (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 185-187 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01258394
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  • 12
    Electronic Resource
    Electronic Resource
    Insurance and Catastrophes: Comment (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 189-190 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01258395
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  • 13
    Electronic Resource
    Electronic Resource
    Insurance and catastrophes: The changing role of the liability system (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 177-184 
    Details
    ISSN: 1554-9658
    Keywords: catastrophes ; torts ; asbestos ; insurance ; liability
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Insurance catastrophes are increasingly the result of actions by human beings rather than nature. Chief among these insurance changes has been the surge in tort liability insurance costs. Unfortunately, the courts have misunderstood the mechanisms for transmitting these costs throughout the economy. A principal deficiency is that the structure of liability has been inconsistent with the courts' assumption that the losses could be borne by consumers or parties other than the insurer.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01258393
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  • 14
    Electronic Resource
    Electronic Resource
    Beneficial changes in random variables via copulas: An application to insurance (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 191-202 
    Details
    ISSN: 1554-9658
    Keywords: demand for insurance ; risk aversion ; first-degree and second-degree stochastic dominance shifts ; copula
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract A risk-averse agent does not necessarily decrease the optimal insurance whenever a beneficial change in the distribution of final wealth occurs. This paper provides sufficient conditions to guarantee such a decrease. Beneficial changes can be induced by either a beneficial loss-distribution shift, by a modification of the dependence structure between the randomness sources, or by both of these. Conditions for each case are stated. Hadar-Seo and Meyer results turn out as special cases.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01258396
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  • 15
    Electronic Resource
    Electronic Resource
    Introductory note (1996)
    Springer
    The Geneva risk and insurance review 21 (1996), S. 5-6 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00949047
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  • 16
    Electronic Resource
    Electronic Resource
    A note on increased probability of loss and the demand for insurance (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 213-216 
    Details
    ISSN: 1554-9658
    Keywords: demand for insurance ; loss probability ; FSD shifts ; symmetric information
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract It is shown that the effect of increased probability of loss on the demand for insurance depends on whether both insured and insurer are aware of the change. When both insurer and insured share the same beliefs about the probability of loss (symmetric information), an increase in the loss probability may lead risk-averse agents to demandless insurance.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01258398
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  • 17
    Electronic Resource
    Electronic Resource
    Demand for insurance in a portfolio setting (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 203-211 
    Details
    ISSN: 1554-9658
    Keywords: insurance ; insurable assets ; expected utility
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper takes an additional step toward analyzing the demand for insurance in the context of a portfolio model. An investor is endowed with a portfolio containing a risky and riskless asset that can be augmented by purchasing insurance. Here, insurance is paid for by reducing the quantity of the risky insurable asset, holding the quantity of the riskless asset fixed. In the standard insurance demand model, insurance is paid for by reducing the amount of the riskless asset. This distinction leads to a different insurance demand function because the opportunity cost of purchasing insurance is now random.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01258397
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  • 18
    Electronic Resource
    Electronic Resource
    Some remarks on modeling the term structure of interest rates (1996)
    Springer
    The Geneva risk and insurance review 21 (1996), S. 29-33 
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    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00949049
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  • 19
    Electronic Resource
    Electronic Resource
    The term structure of interest rates: Alternative approaches and their implications for the valuation of contingent claims (1996)
    Springer
    The Geneva risk and insurance review 21 (1996), S. 7-28 
    Details
    ISSN: 1554-9658
    Keywords: term structure ; interest rates ; contingent claims valuation ; Black-Scholes model ; mean-reversion ; no-arbitrage condition ; preference-free pricing ; general equilibrium ; equivalent martingale measure
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract One of the most active areas of research in financial economics has been the modeling of the term structure of interest rates and its relationship to the pricing of contingent claims. There is a vast array of issues in the area, as well as a variety of perspectives, ranging from theoretical to practical. This article provides a general framework for the analysis of issues in the modeling of the term structure. Specifically, this article provides an overview of the conceptual issues and the empirical evidence in the area, based on an examination of five seminal models by Black, Scholes, and Merton; Vasicek; Cox, Ingersoll, and Ross; Ho and Lee; and Heath, Jarrow, and Morton. The article provides a synthesis of the area and suggests directions for future research.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00949048
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  • 20
    Electronic Resource
    Electronic Resource
    Exotic unit-linked life insurance contracts (1996)
    Springer
    The Geneva risk and insurance review 21 (1996), S. 35-63 
    Details
    ISSN: 1554-9658
    Keywords: unit-linked life insurance ; exotic contracts ; equivalent martingale measures ; financial risk ; insurance premiums
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This article integrates aspects of traditional insurance with advances in financial economics, yielding proper valuation and premium assessments of insurance benefits linked to various financial assets. Several new types of unit-linked life insurance contracts are discussed, with substantial potential for real-life applications. Compared to usual unit-linked products, these contracts offer added flexibility and/or altered exposure to financial risk for the insured and/or the insurer. The single premiums of these policies are calculated as expectations under a risk-adjusted probability measure (equivalent martingale measure), satisfying no-arbitrage conditions in financial markets.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00949050
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  • 21
    Electronic Resource
    Electronic Resource
    Uniqueness of the fair premium for equity-linked life insurance contracts (1996)
    Springer
    The Geneva risk and insurance review 21 (1996), S. 65-102 
    Details
    ISSN: 1554-9658
    Keywords: Asian option ; forward risk adjusted measure ; life insurance ; Monte Carlo simulation ; stochastic interest rates
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract An equity-linked life insurance contract combines an endowment life insurance and an investment strategy with a minimum guarantee. The benefit of this contract is determined by the guaranteed amount plus a bonus equal to a call on the portfolio. This bonus is similar to an Asian option. This article analyzes the relationship between the periodic insurance premium and its proportional share invested into the portfolio. For a general model of the financial risks we show the existence and uniqueness of an insurance premium. Furthermore the premium is strictly increasing and convex as a function of the share invested.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00949051
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  • 22
    Electronic Resource
    Electronic Resource
    Optimal dynamic hedging in incomplete futures markets (1996)
    Springer
    The Geneva risk and insurance review 21 (1996), S. 103-122 
    Details
    ISSN: 1554-9658
    Keywords: hedging ; incomplete markets ; use of futures ; wealth constraint ; exponential utility ; logarithmic utility
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This article derives optimal hedging demands for futures contracts from an investor who cannot freely trade his portfolio of primitive assets in the context of either a CARA or a logarithmic utility function. Existing futures contracts are not numerous enough to complete the market. In addition, in the case of CARA, the nonnegativity constraint on wealth is binding, and the optimal hedging demands are not identical to those that would be derived if the constraint were ignored. Fictitiously completing the market, we can characterize the optimal hedging demands for futures contracts. Closed-form solutions exist in the logarithmic case but not in the CARA case, since then a put (insurance) written on his wealth is implicitly bought by the investor. Although solutions are formally similar to those that obtain under complete markets, incompleteness leads in fact to second-best optima.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00949052
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  • 23
    Electronic Resource
    Electronic Resource
    Fairly priced deposit insurance, incentive compatible regulations, and bank asset choices (1996)
    Springer
    The Geneva risk and insurance review 21 (1996), S. 123-141 
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    ISSN: 1554-9658
    Keywords: deposit insurance ; incentive compatibility
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This article provides incentive compatible regulations that support fairly priced deposit insurance in a competitive banking industry. If informational asymmetry exists between the regulator and banks regarding loan quality, but the regulator can observe actual loan rates charged, then imposing a capital requirement schedule that leads market loan rates to decrease in loan quality is shown to be incentive compatible. Competition in the loan market induces banks to be indifferent to all loans that satisfy a minimum acceptable quality and reject all riskier loans. The regulator could reduce the banking industry's riskiness by imposing stricter capital requirements that increase this minimum quality.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00949053
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  • 24
    Electronic Resource
    Electronic Resource
    The values of insurance companies under different uncertain portfolios (1996)
    Springer
    The Geneva risk and insurance review 21 (1996), S. 147-158 
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    ISSN: 1554-9658
    Keywords: stochastic dominance ; mean preserving dominance ; MLR-dominance ; capital budgeting ; comparative statics
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract The value of an insurance company mainly depends on the premiums received in each underwriting period, the probability distribution of the accumulated claims against the company, the equity capital, and the risk-adjusted rate of return determined by the market. We analyze how the value of the company is affected by marginal changes in the underlying determinants, when there is a regulatory requirement on equity capital. The major factor we are interested in is the claims against the company in each underwriting period, which we represent by a stationary stochastic process. The existing orders for partially ranking risks do not suffice for our purpose, and new conditions are found on the risks facing the companies, for the successful ranking of the company values.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00941935
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  • 25
    Electronic Resource
    Electronic Resource
    Risk aversion with state-dependent preferences in the rank-dependent expected utility theory (1996)
    Springer
    The Geneva risk and insurance review 21 (1996), S. 159-177 
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    ISSN: 1554-9658
    Keywords: expected utility theory ; state-dependent preferences ; risk aversion ; non-expected utility theory ; rank-dependent probabilities
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract We extend the analysis of risk aversion with state-dependent preferences to the rank-dependent expected utility theory. We find that in this extended theory, for two preference relations to be comparable in risk aversion not only do their reference sets need to coincide (a condition first introduced by Karni [1983, 1985] in the original expected utility framework), but they must also rank the prospective state-dependent outcomes in the same manner. We formalize this additional condition by introducing the concept of certainty sets. Under our condition of comparability, various results and characterizations of interpersonal comparison of risk aversion are obtained. The implications for a specific insurance problem are also discussed.
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    URL: http://dx.doi.org/10.1007/BF00941936
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  • 26
    Electronic Resource
    Electronic Resource
    Investment under demand uncertainty: The newsboy problem revisited (1996)
    Springer
    The Geneva risk and insurance review 21 (1996), S. 179-189 
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    ISSN: 1554-9658
    Keywords: uncertainty ; investment ; newsboy problem ; increase in risk ; optimal capacity
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract In this article we study the effect of uncertainty on an entrepreneur who must choose the capacity of his business before knowing the demand for his product. The unit profit of operation is known with certainty, but there is no flexibility in our one-period framework. We show how the introduction of global uncertainty reduces the investment of the risk-neutral entrepreneur and, even more, that of the risk-averse one. We also show how marginal increases in risk reduce the optimal capacity of both the risk-neutral and the risk-averse entrepreneur, without any restriction on the concave utility function and with limited restrictions on the definition of a mean preserving spread. These general results are explained by the fact that the newsboy has a piecewise-linear, and concave, monetary payoff with a kink endogenously determined at the level of optimal capacity. Our results are compared with those in the two literatures on price uncertainty and demand uncertainty, and particularly, with the recent contributions of Eeckhoudt, Gollier, and Schlesinger [1991, 1995].
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    URL: http://dx.doi.org/10.1007/BF00941937
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  • 27
    Electronic Resource
    Electronic Resource
    Consumer risk perceptions and information in insurance markets with adverse selection (1996)
    Springer
    The Geneva risk and insurance review 21 (1996), S. 191-210 
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    ISSN: 1554-9658
    Keywords: adverse selection ; hidden information ; informational equilibrium ; learning
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Standard models of adverse selection in insurance markets assume policyholders know their loss distributions. This study examines the nature of equilibrium and the equilibrium value of information in competitive insurance markets where consumers lack complete information regarding their loss probabilities. We show that additional private information is privately and socially valuable. When the equilibrium policies separate types, policyholders can deduce the underlying probabilities from the contracts, so it is information on risk type, rather than loss probability per se, that is valuable. We show that the equilibrium is “as if” policyholders were endowed with complete knowledge if, and only if, information is noiseless and costless. If information is noisy, the equilibrium depends on policyholders' prior beliefs and the amount of noise in the information they acquire.
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    URL: http://dx.doi.org/10.1007/BF00941938
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  • 28
    Electronic Resource
    Electronic Resource
    The Design of Optimal Insurance Contracts: A Topological Approach (1997)
    Springer
    The Geneva risk and insurance review 22 (1997), S. 5-19 
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    ISSN: 1554-9658
    Keywords: infinite dimensional problem ; angular norm ; coinsurance ; deductible ; increasing costs
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This article deals with the optimal design of insurance contracts when the insurer faces administrative costs. If the literature provides many analyses of risk sharing with such costs, it is often assumed that these costs are linear. Furthermore, mathematical tools or initial conditions differ from one paper to another. We propose here a unified framework in which the problem is presented and solved as an infinite dimensional optimization program on a functional vector space equipped with an original norm. This general approach leads to the optimality of contracts lying on the frontier of the indemnity functions set. This frontier includes, in particular, contracts with a deductible, with total insurance and the null vector. Hence, we unify the existing results and point out some extensions.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1008654729504
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  • 29
    Electronic Resource
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    Prudence, Demand Uncertainty, Background Risk, and the Law of Supply: A Nonexpected Utility Approach to the Firm (1997)
    Springer
    The Geneva risk and insurance review 22 (1997), S. 21-42 
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    ISSN: 1554-9658
    Keywords: prudence ; risk aversion ; dual theory ; nonexpected utility ; background risk ; monopoly ; piecewise linear payoff function ; profits tax
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract We identify two motives, prudence and risk aversion, which give rise to precautionary behavior for a quantity- or price-setting monopolist facing demand uncertainty who has dual theoretic preferences. We also analyze a piecewise linear profit function due to a tax on profits that varies with the profit level. We show that the comparative statics of greater risk (mean-preserving spread and mean-utility preserving spread) can be totally or partially determined by the Diamond-Stiglitz and Kihlstrom-Mirman single-crossing property. For example, for a prudent risk-averse quantity-setting dual theoretic monopolist, a mean-preserving spread will have the same impact on output under uncertainty as a fall in the state of demand under certainty. Finally, we find that, in contrast to expected utility, a stochastically larger state of demand (first-order stochastic dominance) will raise output even if background risk is present.
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    Editor's Comments (1997)
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    The Geneva risk and insurance review 22 (1997), S. 71-71 
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    First-Order Approach to Principal-Agent Problems: A Generalization (1997)
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    The Geneva risk and insurance review 22 (1997), S. 59-65 
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    Keywords: principal-agent contracts ; first-order approach ; wage-action interactions ; action-risk interactions ; nonseparable utility
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    Topics: Economics
    Notes: Abstract The first-order approach (FOA) to principal agent problems is very convenient and mathematically tractable. However, existing results show that the FOA is valid only for additively separable utility functions. This is somewhat limiting. In this article sufficient conditions are identified that extend the validity of the FOA to nonseparable cases. The additional conditions involve restrictions on the agent's preferences, particularly interactions between action and the wage contract. These conditions imply that leisure is normal and the agent's absolute risk aversion increases with action. Comparative static results regarding the wage contract and its gradient are also discussed.
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    An Option-Pricing Approach to the Costs of Export Credit Insurance (1997)
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    The Geneva risk and insurance review 22 (1997), S. 43-58 
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    Keywords: trade financing costs ; export credit insurance ; credit risk ; insurance premia ; option pricing ; non-parametric regressions
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    Notes: Abstract This article investigates the relationship between a debtor country's external financial indicators and the costs associated with the insurance of export credits to that country. For this purpose a stylized model of export credit insurance (ECI) is developed, the central idea being that ECI is similar to a contingent claim such as a European put option. Thus, tools from option pricing theory were used to calculate the price of ECI, implying that not only the current financial position but also the volatility of the changes in that position determine such costs. The empirical results of a statistical analysis of the premium rates for ECI, applied by a private export credit insurer to seventy-seven developing countries during 1993, provide some support for these hypotheses. In particular, the reserves-over-imports ratio of a debtor country and the volatility of the rates of change of this ratio appear to contribute significantly to the premium rates that apply to that country. Thus, the article provides evidence that option pricing parameters do play role in practical insurance pricing, even if this pricing is not explicitly based on these parameters. Premium rates are set as if an underlying option market operated. Thus, the trade of countries with volatile external financial positions is saddled with higher costs than that of countries with more stable positions.
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    Complete Versus Incomplete Insurance Contracts under Adverse Selection with Multiple Risks (1997)
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    The Geneva risk and insurance review 22 (1997), S. 81-101 
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    Keywords: insurance ; adverse selection ; multidimensional screening ; multiple risks ; bundling
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    Topics: Economics
    Notes: Abstract This article extends the standard adverse-selection model for competitive insurance markets, which assumes a single source of risk, to the case where individuals are subject to multiple risks. We compare the following market situations—the case where insurers can offer comprehensive policies against all sources or risks (complete contracts) and the case where different risks are covered by separate policies (incomplete contracts). In the latter case, we consider whether the insurer of a particular risk has perfect information regarding an individual's coverage against other sources of risks. The analysis emphasizes the informational role of bundling in multidimensional screening. When the market situation allows bundling, it is shown that in equilibrium the low-risk type with respect to a particular source of risk does not necessarily obtain partial coverage against that particular risk.
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    Competition and Insurance Twenty Years Later (1997)
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    The Geneva risk and insurance review 22 (1997), S. 73-79 
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    Keywords: insurance ; adverse selection ; competitive outcomes
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    Notes: Abstract We are honored to address the European Group of Risk and Insurance Economists and will take the opportunity to make some reflections on the rather uneasy relationship between insurance and competition. Economists generally prescribe competition as a solution for markets that do not work well. Competition allocates resources efficiently and encourages innovation and attention to what customers want. Insurance markets differ from most other markets because in insurance markets competition can destroy the market rather than make it work better. One of the dimensions along which insurance companies compete is underwriting—trying to ensure that the risks covered are “good” risks or that if a high risk is insured, the premium charged is at least commensurate with the potential cost. The resulting partitioning of risk limits the amount of insurance that potential insurance customers can buy. In the extreme case, such competitive behavior will destroy the insurance market altogether. A simple model illustrates.
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    Explaining Insurance Policy Provisions via Adverse Selection (1997)
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    The Geneva risk and insurance review 22 (1997), S. 121-134 
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    Topics: Economics
    Notes: Abstract In this article, we show that common insurance policy provisions—namely, deductibles, coinsurance, and maximum limits–can arise as a result of adverse selection in a competitive insurance market. Research on adverse selection typically builds on the assumption that different risk types suffer the same size loss and differ only in their probability of loss. In this study, we allow the severity of the insurance loss to be random and, thus, generalize the results of Rothschild and Stiglitz [1976] and Wilson [1977]. We characterize the separating equilibrium contracts in a Rothschild-Stiglitz competitive market. By further assuming a Wilson competitive market, we show that an anticipatory equilibrium might be achieved by pooling, and we characterize the optimal pooling contract.
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    Pooling and Separating Equilibria in Insurance Markets with Adverse Selection and Distribution Costs (1997)
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    The Geneva risk and insurance review 22 (1997), S. 103-120 
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    Keywords: adverse selection ; insurance markets ; marketing costs ; pooling equilibria ; separating equilibria
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    Notes: Abstract In the Rothschild-Stiglitz [1976] model of a competitive insurance market with adverse selection, pooling equilibria cannot exist. However in practice, pooling contracts are frequent, notably in health insurance and life insurance. This is due to the fact that distribution costs are nonnegligible and increase rapidly when more contracts are offered. We modify accordingly the Rothschild-Stiglitz model by introducing such distribution costs. We find that, however small these costs may be, they entail possible existence of pooling equilibria. Moreover, in these pooling equilibria, it is the high-risk individuals who are rationed, in the sense that they would be willing to buy more insurance at the current premium/insurance ratio.
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    Editor's Note (1998)
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    The Geneva risk and insurance review 23 (1998), S. 5-5 
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    Full Insurance, Bayesian Updated Premiums, and Adverse Selection (1997)
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    The Geneva risk and insurance review 22 (1997), S. 135-150 
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    Keywords: insurance ; adverse-selection ; Bayesian learning
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    Notes: Abstract In the classic Rothschild-Stiglitz model of adverse selection in a competitive environment, we analyse a “no-claims bonus” type contract (bonus-malus). We show that, under full insurance coverage, if the insurance company applies Bayes's rule to learn about client probability types over time and uses this information in premium calculations for contract renewals, then there exist conditions under which all client types strictly prefer the Bayesian updating contract to the classic Rothschild-Stiglitz separating equilibrium.
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    Imperfect Agency and the Regulation of Hospitals (1997)
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    The Geneva risk and insurance review 22 (1997), S. 151-168 
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    Keywords: regulation ; health care ; principal-agent ; hospital ; agency
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    Topics: Economics
    Notes: Abstract This article addresses the combined problem of imperfect agency and asymmetric information in the regulation of hospitals by modeling the physician as a utility maximizer with both the utility of patients and profit of the hospital as arguments in his or her utility function. The article concludes that optimal regulation of hospitals is based on three important factors: the doctor's marginal rate of substitution between profit of the hospital and utility of the patients, moral hazard in the relationship between the regulator and the hospital, and adverse selection in the same relation.
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    Background Uncertainty and the Demand for Insurance Against Insurable Risks (1998)
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    The Geneva risk and insurance review 23 (1998), S. 7-27 
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    Keywords: insurance ; background risk ; prudence
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    Notes: Abstract Theory suggests that people facing higher uninsurable background risk buy more insurance against other risks that are insurable. This proposition is supported by Italian cross-sectional data. It is shown that the probability of purchasing casualty insurance increases with earnings uncertainty. This finding is consistent with consumer preferences being characterized by decreasing absolute prudence.
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    A Model of an Oligopoly in an Insurance Market (1998)
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    The Geneva risk and insurance review 23 (1998), S. 41-48 
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    Keywords: insurance ; oligopoly ; imperfect competition
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    Topics: Economics
    Notes: Abstract This article analyzes the behavior of an oligopoly of risk-averse insurers that insure many consumers facing identical independent risks; however, the probability of a loss is ex ante not known with certainty. It is shown that there is a continuum of equilibria in the Bertrand game. The most plausible equilibrium can be obtained by requiring that all insurers are content with the number of policies they sell given the equilibrium premium.
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    Changes in Background Risk and the Demand for Insurance (1998)
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    The Geneva risk and insurance review 23 (1998), S. 29-40 
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    Keywords: background risk ; stochastic dominance ; coinsurance ; deductibles
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    Notes: Abstract The demand for insurance against loss from a particular risky asset is likely to depend on other risks the decision-maker faces. For independently distributed other risks, referred to as background risk, Eeckhoudt and Kimball [1992] determine the effect on insurance demand of introducing background risk. Recently, Eeckhoudt, Gollier, and Schlesinger [1996] determine conditions on preferences such that first- and second-degree stochastic deteriorations in background risk lead to a decrease in the decision-maker's willingness to accept other risks. These results, although formulated in a general decision model, also apply to insurance demand. This article continues analysis of this question by determining the effect on insurance demand of several other general changes in background risk.
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    Long-Term Care Insurance and Life Insurance Demand (1998)
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    The Geneva risk and insurance review 23 (1998), S. 49-61 
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    Keywords: long-term care insurance ; life insurance
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    Topics: Economics
    Notes: Abstract This article investigates the interaction between life insurance and long-term care insurance markets on the demand side. In the model utility depends on both consumption and bequest, and utility from consumption is contingent on the state of health. While the demand for life insurance increases both with decreasing income and with a rising degree of altruism, the influences of these two parameters on the demand for long-term care insurance are ambiguous. If the utility shock arising from disability declines, both insurance demands will rise.
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    Risk Classification by Fuzzy Inference (1998)
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    The Geneva risk and insurance review 23 (1998), S. 63-82 
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    Keywords: fuzzy inference ; risk classification ; life insurance ; imprecise information
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    Topics: Economics
    Notes: Abstract Traditionally, policyholders in life insurance are classified in simple mortality tables, most often according to only a few risk characteristics. Instead of a risk classification according to the numerical rating system, this article describes how to classify by using a fuzzy inference methodology. By defining risk factors as fuzzy sets, it is shown that an insurer can utilize multiple prognostic factors that are imprecise and vague. The presented fuzzy risk classification provides a more realistic way of modeling mortality risks since it allows for compensations and interactions between multiple risk factors.
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    An Extended Family of Financial-Risk Measures (1998)
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    The Geneva risk and insurance review 23 (1998), S. 89-117 
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    Keywords: inequality ; risk ; utility
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    Topics: Economics
    Notes: Abstract Recalling the class of risk measures introduced by Stone [1973], the authors survey measures from different academic disciplines—including psychology, operations research, management science, economics, and finance—that have been introduced since 1973. We introduce a general class of risk measures that extends Stone's class to include these new measures. Finally, we give four axioms that describe necessary attributes of a good financial risk measure and show which of the measures surveyed satisfy these. We demonstrate that all measures that satisfy our axioms, as well as those that do not but are commonly used in finance, belong to our new generalized class.
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    Pareto-Improving Social Security Reform (1998)
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    The Geneva risk and insurance review 23 (1998), S. 119-125 
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    Keywords: social security ; privatization ; overlapping generations model ; endogenous growth
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    Topics: Economics
    Notes: Abstract It is generally accepted that moving from an unfunded to a funded social security system implies a welfare loss for the transition generation—that is, the generation that has to pay twice: first, saving for its own retirement and, second, contributing to the pensions of the then retired generation. This article shows that in a setting of endogenous growth with positive externality such a transition can be Pareto improving. But it argues also that social security reform is more a pretext than a requirement for internalizing such a positive externality.
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    A Reexamination of the Relationship Between Preferences and Moment Orderings by Rational Risk-Averse Investors (1998)
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    The Geneva risk and insurance review 23 (1998), S. 127-137 
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    Keywords: asset preferences ; utility functions ; moment orderings ; Von Neumann-Morgenstern rationality
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    Topics: Economics
    Notes: Abstract This article examines the relationship between risk, return, skewness, and utility-based preferences. Examples are constructed showing that, for any commonly used utility function, it is possible to have two continuous unimodal random variables X and Y with positive and equal means, X having a larger variance and lower positive skewness than Y, and yet X has larger expected utility than Y, contrary to persistent folklore concerning U″′ 〉 0 implying skewness preference for risk averters. In additon, it is shown that ceteris paribus analysis of preferences and moments, as occasionally used in the literature, is impossible since equality of higher-order central moments implies the total equality of the distributions involved.
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    Government Deposit Insurance and the Diamond-Dybvig Model (1998)
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    The Geneva risk and insurance review 23 (1998), S. 139-149 
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    Keywords: deposit insurance ; bank runs ; diamond dybuig model ; market failure
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    Topics: Economics
    Notes: Abstract The apparent banking market failure modeled by Diamond and Dybvig [1983] rests on their inconsistently applying their “sequential servicing constraint” to private banks but not to their government deposit insurance agency. Without this inconsistency, banks can provide optimal risk-sharing without tax-based deposit insurance, even when the number of “type 1” agents is stochastic, by employing a “contingent bonus contract.” The threat of disintermediation noted by Jacklin [1987] in the nonstochastic case is still present but can be blocked by contractual trading restrictions. This article complements Wallace [1988], who considers an alternative resolution of this inconsistency.
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    Voluntary Contributions with Uncertainty: The Environmental Quality (1998)
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    The Geneva risk and insurance review 23 (1998), S. 151-165 
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    Keywords: environmental management ; uncertainty ; public goods ; voluntary contributions ; precaution ; risk
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    Topics: Economics
    Notes: Abstract This article presents a model in which production causes pollution that diminishes the welfare of its agents. Each agent is concerned with the quality of its environment and may voluntary contribute to improve it by financing depollution technology. The effectiveness of this technology on the quality of the environment is uncertain. We show that if an agent is sufficiently risk averse, voluntary contribution is a decreasing function of the average efficiency of depollution technology. If, on the contrary, the pollution effect is weaker than the substitution effect, the opposite holds. We show that precaution about environmental quality has two possible consequences that depend on agents' risk aversion. Therefore, the implications of a precautionary attitude lead us to consider the agents' risk-aversion characterization, which implies knowledge about prudent attitude.
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    Coalition-Proof Allocations in Adverse-Selection Economies (1999)
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    The Geneva risk and insurance review 24 (1999), S. 5-17 
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    Keywords: adverse selection ; coalition proof ; insurance
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    Notes: Abstract We reexamine the canonical adverse selection insurance economy first studied by Rothschild and Stiglitz [1976]. We define blocking in a way that takes private information into account and define a coalition-proof correspondence as a mapping from coalitions to allocations with the property that allocations are in the correspondence, if and only if, they are not blocked by any other allocations in the correspondence for any subcoalition. We prove that the Miyazaki allocation—the Pareto-optimal allocation (possibly cross-subsidized) most preferred by low-risk agents—is coalition-proof.
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    Should More Risk-Averse Agents Exert More Effort? (1999)
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    The Geneva risk and insurance review 24 (1999), S. 19-28 
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    Keywords: self-insurance ; self-protection ; comparative statics
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    Topics: Economics
    Notes: Abstract Consider an agent facing a risky distribution of losses who can change this distribution by exerting some effort. Should he exert more effort when he becomes more risk-averse? For instance, should we expect more risk-averse drivers to drive more cautiously? In this article, we give sufficient conditions under which the answer is positive, using results presented in Jewitt (1989). We first extend the standard models of self-insurance and self-protection and show that the comparative statics depends only on the effect of effort on the net loss. We then present conditions for the continuous case with applications.
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    Optimal Insurance Under Random Auditing (1999)
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    The Geneva risk and insurance review 24 (1999), S. 29-54 
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    Keywords: insurance ; auditing ; risk aversion
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    Topics: Economics
    Notes: Abstract We provide a characterization of an optimal insurance contract (coverage schedule and audit policy) when the monitoring procedure is random. When the policyholder exhibits constant absolute risk aversion, the optimal contract involves a positive indemnity payment with a deductible when the magnitude of damages exceeds a threshold. In such a case, marginal damages are fully covered if the claim is verified. Otherwise, there is an additional deductible that disappears when the damages become infinitely large. Under decreasing absolute risk aversion, providing a positive indemnity payment for small claims with a nonmonotonic coverage schedule may be optimal.
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    Regulation of Insurance Markets (1999)
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    The Geneva risk and insurance review 24 (1999), S. 55-68 
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    Keywords: insurance regulation ; information ; insolvency
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    Topics: Economics
    Notes: Abstract There have been major changes in the way European insurance markets are regulated, and there is still considerable debate about what the form and scope of regulation should be. This article examines the arguments for solvency regulation when consumers are fully informed of the insurer's insolvency risk. It is shown firms always provide enough capital to ensure solvency, unless there are restrictions on the composition of their asset portfolios. The conclusion holds even when competition means that only normal profits can be earned. This suggests that the role of regulation in insurance markets should be confined to providing consumers with information about the default risk of insurers.
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    An Equilibrium Model of Catastrophe Insurance Futures and Spreads (1999)
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    The Geneva risk and insurance review 24 (1999), S. 69-96 
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    Keywords: insurance futures ; futures derivatives ; claims processes ; reinsurance
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    Topics: Economics
    Notes: Abstract This article presents a valuation model of futures contracts and derivatives on such contracts, when the underlying delivery value is an insurance index, which follows a stochastic process containing jumps of random claim sizes at random time points of accident occurrence. Applications are made on insurance futures and spreads, a relatively new class of instruments for risk management launched by the Chicago Board of Trade in 1993, anticipated to start in Europe and perhaps also in other parts of the world in the future. The article treats the problem of pricing catastrophe risk, which is priced in the model and not treated as unsystematic risk. Several closed pricing formulas are derived, both for futures contracts and for futures derivatives, such as caps, call options, and spreads. The framework is that of partial equilibrium theory under uncertainty.
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    The Econometrics of Risk Classification in Insurance (1999)
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    The Geneva risk and insurance review 24 (1999), S. 119-137 
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    Keywords: risk classification ; adverse selection ; moral hazard ; Poisson-gamma model ; bonus-malus
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    Topics: Economics
    Notes: Abstract We present in this article some questions related to risk classification. These are discussed depending on the information used—either data on conditional characteristics or also including data on claim histories or on endogenous insurance demand by the agents.
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    Automobile Insurance Contracts and Risk of Accident: An Empirical Test Using French Individual Data (1999)
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    The Geneva risk and insurance review 24 (1999), S. 97-114 
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    Keywords: adverse selection ; moral hazard ; automobile insurance contracts ; risk of accident ; econometrics
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Insurance has for a long time been perceived as a way of transferring responsibility from insured agents to insurers and thus as potentially influencing insured agents' behavior. Two particular opportunistic behaviors have been analyzed. First, the theory of adverse selection predicts that high-risk agents are likely to demand more insurance than are low-risk agents. Second, the theory of moral hazard predicts that the wider the insurance coverage, the less agents will try to prevent accidents. Both theories thus conclude that agents who are totally insured should have a higher probability of accident than those with only partial insurance, ceteris paribus. Nevertheless, one of the aims of insurance rating systems is to control for these opportunistic behaviors. In this article, we use individual data to see if the French automobile insurance rating system has achieved this aim. We do this using a two-step maximum-likelihood method. First, we compute a probit model to estimate the probability of taking out comprehensive versus third-party insurance. We then calculate the generalized residual, which is included as an independent variable in a negative binomial model estimating the probability of having an accident. The coefficient of this variable is argued to represent adverse selection and ex-ante moral-hazard behavior.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1008737416839
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    The Coexistence of Distribution Systems When Consumers Are Not Informed (1999)
    Springer
    The Geneva risk and insurance review 24 (1999), S. 173-192 
    Details
    ISSN: 1554-9658
    Keywords: distribution systems ; price dispersion ; consumer search behavior ; long-run equilibrium ; uninformed consumers
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract We attempt to explain the coexistence of two distribution systems when consumers are poorly informed about price distribution. The interaction of price dispersion and consumer search behavior is shown to affect the choice of marketing systems. We provide a necessary and sufficient condition for the coexistence as a long-run equilibrium. The market may observe the coexistence of the two agency systems regardless of the relative efficiency of agency types, or the domination by the less efficient agency system offering higher average price.
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    URL: http://dx.doi.org/10.1023/A:1008741627883
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    The Design of an Optimal Area Yield Crop Insurance Contract (1999)
    Springer
    The Geneva risk and insurance review 24 (1999), S. 159-171 
    Details
    ISSN: 1554-9658
    Keywords: crop insurance ; yield options contracts ; incomplete markets ; systemic risk
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This article focuses on the design of a crop insurance contract when the indemnity is based on the aggregate yield of a surrounding geographical area. Coinsurance under a critical yield often provides an efficient sharing of systemic risk. Under a linear relationship between individual yield and aggregate yield, the optimal form depends on the individual beta coefficient, which measures the sensitivity of individual yield to aggregate yield. The optimal hedging position of the producer on the yield options market is to buy put options or call options depending upon whether his beta coefficient is positive or negative.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1008789511044
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    Experimental Tests of Self-Selection and Screening in Insurance Decisions (1999)
    Springer
    The Geneva risk and insurance review 24 (1999), S. 139-158 
    Details
    ISSN: 1554-9658
    Keywords: self-selection ; screening ; information asymmetry ; insurance markets
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract A major characteristic of insurance markets is information asymmetry that may lead to phenomena such as adverse selection and moral hazard. Another aspect of markets with asymmetric information is self-selection, which refers to the pattern of choices that individuals with different personal characteristics make when facing a menu of contracts or options. To combat problems of asymmetric information, insurance firms can use screening. That is, they can offer the clients a menu of choices and infer their characteristics from their choices. This article reports the results of several studies that examined the degree to which people behave according to the notions of self-selection and screening. Subjects played the role of either insurance buyers or sellers. The results of these studies provide partial support for the hypothesis that subjects use self-selection and screening in insurance markets. Our study also points at the importance of learning in experimental studies. In one-stage experiments where subjects did not get feedback, screening was not detected. When multistage experiments were conducted, and the subjects learned from experience and were also taught the relevant theories, their decisions were more aligned with screening.
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    URL: http://dx.doi.org/10.1023/A:1008737526974
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    Corporate Insurance as a Necessary Form of Consultant–Investigator Contract (1999)
    Springer
    The Geneva risk and insurance review 24 (1999), S. 193-207 
    Details
    ISSN: 1554-9658
    Keywords: corporate insurance ; business insurance ; agency problems
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Existing literature argues that corporate insurance is purchased because the insurance company produces risk management information for publicly held corporations. In this article, we address a fundamental question as to why other financial intermediaries cannot perform the same information production function as the insurance company. We argue that when the risk manager of the firm performs multiple tasks and needs consulting and investigation services from an outside agent for efficient risk management, the optimal contract with the agent has to be in the form of an insurance contract. Other types of contracts, such as flat-fee contracts, cannot be optimal. Therefore, the insurance company is ideally suited to provides these services.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1023/A:1008793611953
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    Workload planning in small lot printed circuit board assembly (1997)
    Springer
    OR spectrum 19 (1997), S. 147-157 
    Details
    ISSN: 1436-6304
    Keywords: Key words: production ; scheduling ; printed circuit board assembly ; modelling ; linear programming ; aggregational error ; decision support ; Schlüsselwörter: Produktion ; Ablaufplanung ; Leiterplattenbestückung ; Modellierung ; lineare Programmierung ; Aggregationsfehler ; Entscheidungsunterstützung ; S′jm = Sjm ; SFj(r)(12)
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung. Bei der Kleinserienmontage von Leiterplatten besteht das Problem der Einlastungsplanung darin, ein Tagesprogramm an Produktionsaufträgen zusammenzustellen, die gemeinsam in das Produktionssystem eingeschleust werden. Jeder Produktionsauftrag entspricht einem bestimmten Leiterplattentyp. Wechselt man bei der automatischen Bestückung von Leiterplatten zu einem neuen Leiterplattentyp, so fallen erhebliche Rüstzeiten an, die davon abhängen, wie viele Bauteilezuführungen im Magazin der Bestückungsautomaten ausgewechselt werden müssen. Zur Unterstützung dieses Entscheidungsproblems werden zwei unterschiedliche Modelle der linearen Optimierung entwickelt. Die beiden Modelle unterscheiden sich vor allem durch ihren Aggregationsgrad und ihren Rechenaufwand. Zur Verringerung des Aggregationsfehlers wird ein auf der Fuzzy-Set-Theorie beruhender Ansatz zur Abschätzung der bei automatischen SMD-Bestückungsautomanten auftretenden Rüstzeiten entwickelt. Hierbei wird als industrielles Anwendungsbeispiel die Leiterplattenbestückung in einem bedeutenden Elektronikunternehmen betrachtet. Die durchgeführte numerische Untersuchung zeigt, daß das hochaggregierte Fuzzy-LP-Modell zu hinreichend genauen Lösungen führt und erheblich geringeren Rechenaufwand verursacht als ein detaillierteres LP-Modell. Außerdem wird die praktische Eignung des Fuzzy-LP-Modells für den Einsatz innerhalb eines interaktiven Entscheidungsunterstützungssystems verdeutlicht.
    Notes: Abstract. The problem of workload planning in small lot printed circuit board (PCB) assembly concerns the determination of the daily mix of production orders to be released into the production system. When switching from one production order (board type) to another, a considerable set-up time is incurred based on the number of component feeders to be replaced in the component magazine of the assembly machines. To support the order-mix decision faced by a major electronics manufacturer, two versions of a linear programming model are developed. The models differ primarily in their degree of aggregation and their computational effort. In order to reduce the aggregational error incurred, a fuzzy approach is developed to estimate the number of component set-ups at automatic SMD placement machines. Our numerical investigation reveals that sufficiently accurate solutions may be obtained from a highly aggregate fuzzy LP-model and this is achieved with considerably less computational effort than with a more detailed LP-model. We also demonstrate the potential suitability of the fuzzy LP-model for implementation within an interactive decision support system.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01545517
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    A capacity-oriented hierarchical approach to single-item and small-batch production planning using project-scheduling methods (1997)
    Springer
    OR spectrum 19 (1997), S. 77-85 
    Details
    ISSN: 1436-6304
    Keywords: Single-item and small-batch production ; make-to-order production ; hierarchical planning ; project scheduling ; Einzel- und Kleinserienfertigung ; Kundenauftragsfertigung ; Hierarchische Planung ; Projektplanung
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung Die meisten in der Praxis eingesetzten Produktionsplanungs- und Steuerungssysteme (PPS-Systeme) besitzen den Nachteil, daß weder eine hierarchische Planung mit Rückkopplungen ermöglicht wird, noch die Ressourcenbeschränkungen auf allen Planungsstufen beachtet werden. Außerdem sind PPS-Systeme meist nicht auf die Anforderungen verschiedener Organisations- und Fertigungstypen, z.B. der Fertigung kleiner Stückzahlen, zugeschnitten. Wir behandeln einen Ansatz für die hierarchische Planung von Einzel- und Kleinserienfertigung bei Kundenauftragsfertigung unter Berücksichtigung beschränkter Ressourcen. Insbesondere werden die Stufen der kapazitierten Hauptproduktionsprogrammplanung, der mehrstufigen Losgrößenplanung, der Termin- und Kapazitätsplanung sowie der Maschinenbelegungsplanung betrachtet, wobei das Niveau der Produkt- und Ressourcenaggregation jeweils von Stufe zu Stufe abnimmt. Die meisten Optimierungsprobleme, die hierbei auf den einzelnen Planungsstufen auftreten, können als ressourcenbeschränkte Projektplanungsprobleme modelliert werden.
    Notes: Abstract Most production planning and control (PPC) systems used in practice have an essential weakness in that they do not support hierarchical planning with feedback and do not observe resource constraints at all production levels. Also, PPC systems often do not deal with particular types of production, for example, low-volume production. We propose a capacity-oriented hierarchical approach to single-item and small-batch-production planning for make-to-order production. In particular, the planning stages of capacitated master production scheduling, multi-level lot sizing, temporal and capacity planning, and shop floor scheduling are discussed, where the degree of aggregation of products and resources decreases from stage to stage. It turns out that the optimization problems arising at most stages can be modelled as resourceconstrained project scheduling problems.
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    URL: http://dx.doi.org/10.1007/BF01545504
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    Workload planning in small lot printed circuit board assembly (1997)
    Springer
    OR spectrum 19 (1997), S. 147-157 
    Details
    ISSN: 1436-6304
    Keywords: production ; scheduling ; printed circuit board assembly ; modelling ; linear programming ; aggregational error ; decision support ; Produktion ; Ablaufplanung ; Leiterplattenbestückung ; Modellierung ; lineare Programmierung ; Aggregationsfehler ; Entscheidungsunterstützung
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung Bei der Kleinserienmontage von Leiterplatten besteht das Problem der Einlastungsplanung darin, ein Tagesprogramm an Produktionsaufträgen zusammenzustellen, die gemeinsam in das Produktionssystem eingeschleust werden. Jeder Produktionsauftrag entspricht einem bestimmten Leiterplattentyp. Wechselt man bei der automatischen Bestückung von Leiterplatten zu einem neuen Leiterplattentyp, so fallen erhebliche Rüstzeiten an, die davon abhängen, wie viele Bauteilezuführungen im Magazin der Bestückungsautomaten ausgewechselt werden müssen. Zur Unterstützung dieses Entscheidungsproblems werden zwei unterschiedliche Modelle der linearen Optimierung entwickelt. Die beiden Modelle unterscheiden sich vor allem durch ihren Aggregationsgrad und ihren Rechenaufwand. Zur Verringerung des Aggregationsfehlers wird ein auf der Fuzzy-Set-Theorie beruhender Ansatz zur Abschätzung der bei automatischen SMD-Bestückungsautomanten auftretenden Rüstzeiten entwickelt. Hierbei wird als industrielles Anwendungsbeispiel die Leiterplattenbestückung in einem bedeutenden Elektronikunternehmen betrachtet. Die durchgeführte numerische Untersuchung zeigt, daß das hochaggregierte Fuzzy-LP-Modell zu hinreichend genauen Lösungen führt und erheblich geringeren Rechenaufwand verursacht als ein detaillierteres LP-Modell. Außerdem wird die praktische Eignung des Fuzzy-LP-Modells für den Einsatz innerhalb eines interaktiven Entscheidungsunterstützungssystems verdeutlicht.
    Notes: Abstract The problem of workload planning in small lot printed circuit board (PCB) assembly concerns the determination of the daily mix of production orders to be released into the production system. When switching from one production order (board type) to another, a considerable set-up time is incurred based on the number of component feeders to be replaced in the component magazine of the assembly machines. To support the order-mix decision faced by a major electronics manufacturer, two versions of a linear programming model are developed. The models differ primarily in their degree of aggregation and their computational effort. In order to reduce the aggregational error incurred, a fuzzy approach is developed to estimate the number of component set-ups at automatic SMD placement machines. Our numerical investigation reveals that sufficiently accurate solutions may be obtained from a highly aggregate fuzzy LP-model and this is achieved with considerably less computational effort than with a more detailed LP-model. We also demonstrate the potential suitability of the fuzzy LP-model for implementation within an interactive decision support system.
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    Palletmanager/cargomanager (1997)
    Springer
    OR spectrum 19 (1997), S. 177-180 
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    ISSN: 1436-6304
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Resümee Mit Hilfe beider Programme kann ein breites Spektrum von industriellen Anwendungsproblemen der Paletten- und Containerbeladung sowie der Gestaltung von Packstückdimensionen effizient gelöst werden. Die Rechenzeiten liegen bei einem modernen PC im Bereich weniger Sekunden. Dabei sind die Programme sowohl an formalen Optimalitätskriterien ausgerichtet als auch an den vielfältigen praktischen Anforderungen, die in unterschiedlichen Anwendungssituationen auftreten können. Der Anwender erhält eine umfassende Lösungspräsentation sowie die Möglichkeit, zahlreiche Druckprotokolle unterschiedlicher Inhalte zu erstellen. Hinsichtlich der Druckprotokolle wäre eine weiterführende individuelle Gestaltungsmöglichkeit wünschenswert. Für künftige Versionen sollten die Entwicklung einer benutzerfreundlichen, grafikorientierten Programmoberfläche mit Mausbedienung sowie Online-Hilfen und Kontextmenüs angestrebt werden, damit der ohne Zweifel vorhandenen funktionalen Leistungsfähigkeit der Programme auch ein entsprechender Bedienkomfort zur Seite gestellt wird.
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    URL: http://dx.doi.org/10.1007/BF01545585
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    Reformulations of the shortest route model for dynamic multi-item multi-level capacitated lotsizing (1997)
    Springer
    OR spectrum 19 (1997), S. 87-96 
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    ISSN: 1436-6304
    Keywords: Key words: Dynamic multi-item multi-level capacitated lotsizing ; mathematical programming models ; Schlüsselwörter: Dynamische mehrstufige Mehrprodukt-Losgrößenprobleme ; Modelle der mathematischen Programmierung
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung. Das dynamische mehrstufige Mehrprodukt-Losgrößenproblem läßt sich als gemischt-ganzzahliges Optimierungsproblem mit einem Kürzeste-Wege-Modell abbilden. Ein besonderer Vorteil dieser Modellformulierung liegt in der sehr scharfen unteren Schranke der zugehörigen LP-Relaxation. Als nachteilig erweist sich jedoch einerseits der unverhältnismäßig hohe Rechenaufwand zur Lösung der LP-Relaxation mit Standardsoftware der mathematischen Programmierung sowie andererseits die mit der Periodenanzahl quadratisch wachsende Variablenanzahl, die die Lösbarkeit von Probleminstanzen mit vielen Perioden stark einschränkt. Zur Behebung der genannten Nachteile wird in dem vorliegenden Aufsatz eine Modifikation des ursprünglichen Kürzesten-Wege-Modells vorgeschlagen. Diese neue Modellformulierung erlaubt es dem Anwender einen Kompromiß zwischen der Modellgröße und der Schärfe der zugehörigen LP-Relaxation zu finden. Hierzu ist ein Vorschauhorizont τ vom Anwender zu definieren. Zusätzlich wird ein iteratives Verfahren beschrieben, das den minimalen Vorschauhorizont τ bestimmt, bei dem die schärfste untere Schranke erreicht wird. Neben theoretischen Erkenntnissen werden auch die Ergebnisse umfangreicher Testrechnungen vorgestellt.
    Notes: Abstract. The shortest route representation of the dynamic multi-item multi-level capacitated lotsizing problem is appealing due to the tight bound provided by its Linear Programming (LP) relaxation. However, it suffers from two main drawbacks: Firstly, even solving the LP relaxation of problem instances with up to 16 time periods and 40 items with standard mathematical programming software might require a prohibitive amount of computer time. Secondly, the quadratic growth of the number of variables with the number of periods restricts the solution of problem instances with many periods. Both drawbacks will be addressed in this paper by proposing reformulations of the original shortest route model. Especially we will introduce a model formulation which allows the user to find a tradeoff between model size and tightness of the lower bound obtained by the LP relaxation by specifying the number of look ahead periods τ. Furthermore, we will provide an iterative procedure for determining those look ahead periods which result in the tightest LP relaxation. Theoretical insights as well as computational results are provided, too.
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    URL: http://dx.doi.org/10.1007/BF01545506
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    Kapazitätsanpassung bei simultaner Losgrößen- und Reihenfolgeplanung (1997)
    Springer
    OR spectrum 19 (1997), S. 251-260 
    Details
    ISSN: 1436-6304
    Keywords: Sortenfertigung ; Prozeßindustrie ; Losgrößenplanung ; Reihenfolgeplanung ; Batch production ; flow process industry ; lotsizing ; scheduling
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Abstract The paper considers the effect of capacity adaptations for the Economic Lot Scheduling Problem. A heuristic is presented which shows how to compute simultaneously lot sizes, schedules and capacity requirements for medium term planning. The results are evaluated with respect to the optimal solution of the Continuous Setup Lotsizing Problem.
    Notes: Zusammenfassung Der vorliegende Beitrag erweitert das Planungsmodell des „Economic Lot Scheduling“ Problems um den für die Praxis in der Mittelfristplanung wichtigen Aspekt der Kapazitätsanpassung. Es wird eine Heuristik vorgestellt, die simultan Losgrößen, Reihenfolgen und die Kapazitätsanpassung bestimmt. Die Ergebnisse der Heuristik werden mit Hilfe der Optimallösung des „Continuous Setup Lotsizing“ Problems überprüft.
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    Buchbesprechungen (1997)
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    OR spectrum 19 (1997), S. 284-284 
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    ISSN: 1436-6304
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
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    URL: http://dx.doi.org/10.1007/BF01539786
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    Buchbesprechungen (1997)
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    OR spectrum 19 (1997), S. 294-295 
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    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
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    URL: http://dx.doi.org/10.1007/BF01539788
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    Dank den Referenten (1997)
    Springer
    OR spectrum 19 (1997), S. 296-296 
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    ISSN: 1436-6304
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
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    URL: http://dx.doi.org/10.1007/BF01539789
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    Genetische Modellierung von Künstlichen Neuronalen Netzen (1997)
    Springer
    OR spectrum 19 (1997), S. 285-293 
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    ISSN: 1436-6304
    Keywords: Künstliche Neuronale Netze ; Genetischer Algorithmus ; Kreditwürdigkeitsprüfung ; Konfigurationsproblem ; Artificial neural nets ; genetic algorithm ; credit evaluation ; configuration problem
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Abstract Artificial neural nets (ANN) have been applied successfully to various classification problems like credit evaluation etc. While the ANN-specific learning strategies and algorithms are independent from the application domain and the problem instance, the configuration of an ANN is a design and decision problem which should take into account the specific problem domain (i.e. credit evaluation) and the specific instantiation (i.e. given set of indicators). In this article we show how to apply “Genetic modeling” to this configuration problem, i.e. we show how suitable ANN-configurations can be constructed in an evolutionary manner using a genetic algorithm. We report on empirical results for the application to the configuration of LVQ-ANN for credit evaluation.
    Notes: Zusammenfassung Künstliche Neuronale Netze (KNN) haben sich für eine automatisierte Klassifikation, wie sie etwa bei der Kreditwürdigkeitsprüfung durchzuführen ist, als Alternative zu klassischen statistischen Methoden etabliert. Während die KNN-Typ-spezifischen Lernverfahren, wie etwa das Back-Propagation-Verfahren bei Multi-Layer-Perceptron-Netzen dabei anwendungsdomänenunabhängig und auch instanzunabhängig definiert sind, stellt die Konfiguration des spezifischen KNN für eine konkrete Anwendung ein Entscheidungsproblem dar, das jeweils in Abhängigkeit der Anwendungsdomäne (Kreditwürdigkeitsprüfung) und der konkreten Instanz (unternehmenspezifische Kennzahlensysteme) zu lösen ist. Für dieses Konfigurationsproblem, das in der Literatur noch nicht umfassend behandelt wurde, wird in dieser Arbeit mit dem “Genetic Modeling” ein Ansatz vorgestellt, bei dem eine passende Netzkonfiguration mittels eines Genetischen Algorithmus ebenfalls aus historischem Wissen “gelernt” wird. Wir berichten über erste empirische Ergebnisse beim Einsatz zur Kreditwürdigkeitsprüfung mittels LVQ-KNN.
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    Risk as a primitive: a survey of measures of perceived risk (1997)
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    OR spectrum 19 (1997), S. 235-250 
    Details
    ISSN: 1436-6304
    Keywords: Key words: Risk judgement, perceived risk, axiomatic measures of risk ; Schlüsselwörter Risikobeurteilung, wahrgenommenes Risiko, axiomatische Risikomaße
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung. Risiko ist ein Konzept, das bei der Behandlung vieler volks- oder betriebswirtschaftlicher Probleme eine wesentliche Rolle spielt. Üblicherweise wird Risiko im Rahmen des traditionellen Erwartungsnutzenmodells behandelt, bei dem es nur indirekt über die Form der Nutzenfunktion erfaßt wird. Der Zweck von Nutzenfunktionen besteht aber darin, Präferenzen zu modellieren. In diesem Aufsatz wird ein Überblick über solche Ansätze gegeben, die Risikowahrnehmungen direkt modellieren. Nach einer kurzen Darstellung naiver Risikomaße, die aus der früheren ökonomischen Literatur bekannt sind, werden neuere theoretische und empirische Konzepte präsentiert.
    Notes: Abstract. The concept of risk is essential to many problems in economics and business. Usually, risk is treated in the traditional expected utility framework where it is defined only indirectly through the shape of the utility function. The purpose of utility functions, however, is to model preferences. In this paper, we review those approaches which directly model risk judgements. After a short review of naive risk measures used in earlier economic literature, we present recent theoretical and empirical developments.
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    Zur Abweichungsanalyse im operativen, modellgestützten Controlling (1997)
    Springer
    OR spectrum 19 (1997), S. 273-283 
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    ISSN: 1436-6304
    Keywords: Schlüsselwörter: Abweichungsanalyse ; Controlling ; Key words: Deviation analysis ; controlling
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Abstract. Systems of economic ratios are very important in the field of operative controlling. Functional equations of economic quantities may be analyzed by comparing actual current values of these variables with planned values or values of a previous period using methods of deviation analysis. In this paper different methods of deviation analysis are compared. They are based on conditions, which should be satisfied by methods used to determine the effects on a depending quantity caused by the change of its components. In some aspects these conditions are different from conditions for methods of deviation analysis used in cost accounting. Based on an approximation of the temporal change of economic quantities a new method of deviation analysis is developed. This concept satisfies all conditions formulated at the beginning of the paper.
    Notes: Zusammenfassung. Große Bedeutung im operativen Controlling haben Kennzahlensysteme. Dabei auftretende funktionale Zusammenhänge zwischen den Kennzahlen lassen sich unter Nutzung der Methoden der Abweichungsanalyse analysieren, indem Soll- und Ist-Werte oder Angaben verschiedener zeitlicher Perioden miteinander verglichen werden. Gegenstand dieser Arbeit ist ein Vergleich verschiedener Konzepte der Abweichungsanalyse. Dazu werden Kriterien formuliert, deren Erfüllung für die Nutzung der betreffenden Methoden im Controlling und für eine möglichst einfache und eindeutige Interpretation der Ergebnisse wünschenswert erscheint. Aus der Sicht der Kennzahlensysteme ergeben sich dabei teilweise andere Anforderungen als die in der Kostenrechnung diskutierten Bedingungen. Für die Analyse der zeitlichen Entwicklung wird ein neues Konzept der Abweichungsanalyse entwickelt, das allen geforderten Kriterien genügt.
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    An integer concave minimization approach for the minimum concave cost capacitated flow problem on networks (1998)
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    OR spectrum 20 (1998), S. 47-53 
    Details
    ISSN: 1436-6304
    Keywords: Minimum cost network flow problem ; integer concave minimization problem ; branch and bound algorithm ; Kostenminimaler Fluß auf Netzwerken ; ganzzahlige konkave Minimierungsprobleme ; Branch-and-Bound-Algorithmus
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung Es wird das Problem eines kostenminimalen Flusses auf Netzwerken mit konkaven Kosten diskutiert. Mit Hilfe einer äquivalenten Formulierung dieses Problems als eine ganzzahlige konkave Minimumsaufgabe wird ein Branch-and-Bound Algorithmus entwickelt, in dem die ganzzahlige Quaderaufteilung und die klassischen Methoden des linearen kostenminimalen Flußproblems angewendet werden. Für den Fall, daß die Kostenfunktion auf einer festen Anzahl der Kanten konkav ist, wird eine Abschätzung der Laufzeit des Algorithmus angegeben. Numerische Ergebnisse zeigen die Brauchbarkeit der Methode.
    Notes: Abstract Formulating the minimum concave cost capacitated network flow problem as an integer concave minimization problem, we establish finite branch and bound algorithms, in which the branching operation is the so-called integral rectangular partition and the bounding procedure is performed by the classical minimum linear cost flow problem on subnetworks. For the special case that the flow cost function is concave on a fixed number of arcs and linear on the others, an upper bound of the running time is given.
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    Shortest path calculation in large road networks (1998)
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    OR spectrum 20 (1998), S. 15-20 
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    ISSN: 1436-6304
    Keywords: Shortest path ; transportation planning ; Kürzeste Wege ; Routenplanung
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung Eines der grundlegenden Probleme in der Routenplanung ist die Berechnung des kürzesten Weges zwischen zwei Punkten in einem Straßennetz. Allgemeine kürzeste Wege Algorithmen, die einen großen Teil des gesamten Graphen untersuchen, sind in großen Netzwerken sehr langsam. Da sich Straßennetze nicht sehr oft ändern, kann in einem Vorbereitungsschritt eine Hilfsdatenstruktur berechnet werden. Mit Hilfe dieser Datenstruktur können die kürzesten Wege wesentlich schneller aufgefunden werden, als mit herkömmlichen Algorithmen. Der Speicherplatz der Hilfsdatenstruktur wächst linear mit der Anzahl der Kanten im Netzwerk.
    Notes: Abstract One of the basic problems in transportation planning systems is the calculation of the fastest route between two points in a road network. General shortest path algorithms, which examine a large part of the whole graph for each shortest path, are very slow if the road network is large. Since the road network does not change very often it is possible to calculate auxiliary information in a preprocessing step. I will present a preprocessing algorithm which requires linear storage. It is substantially faster than the general algorithms without preprocessing.
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    OR spectrum 20 (1998), S. 38-38 
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    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
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    URL: http://dx.doi.org/10.1007/BF01545527
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    OR spectrum 20 (1998), S. 46-46 
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    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
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    URL: http://dx.doi.org/10.1007/BF01545529
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    Tabu-search for the multi-mode job-shop problem (1998)
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    OR spectrum 20 (1998), S. 21-28 
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    ISSN: 1436-6304
    Keywords: Key words:Tabu-search, multi-mode job-shop, multi-processor-task job-shop, multi-purpose-machine job-shop ; Schlüsselwörter: Tabu-Suche, Mehrmodus-Job-Shop, Mehrprozessoroperationen-Job-Shop, Mehrzweckmaschinen-Job-Shop
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung. In einem Multi-Processor-Task Job- Shop Problem (MPTJSP) wird jeder Operation eine Maschinenmenge zugeordnet. Für die Bearbeitung einer Operation werden dabei während des gesamten Bearbeitungszeitraums alle Maschinen benötigt. Ziel ist es nun, einen Bearbeitungsplan zu bestimmen, in dem die Gesamtbearbeitungsdauer minimal ist. In einem Multi-Mode Job-Shop Problem (MMJSP) wird jeder Operation eine Menge von Maschinenmengen zugeordnet. Hierbei muß jeder Operation eine Maschinenmenge zugewiesen werden und das sich daraus ergebene MPTJSP mit dem Ziel der Minimierung der Gesamtbearbeitungsdauer gelöst werden. Für das MMJSP wird ein Tabu-Suche Algorithmus vorgestellt. Außerdem werden die erhaltenen Rechenergebnisse aufgeführt.
    Notes: Abstract. In a multi-processor-tasks job-shop problem (MPTJSP) there is a machine set associated with each operation. All machines are needed for the whole processing period to process the operation. The objective is to find a schedule which minimizes the makespan. In a multi-mode job-shop problem (MMJSP) there is a set of machine sets associated with each operation. One has to assign a machine set to each operation and to solve the resulting MPTJSP such that the resulting makespan is minimized. For the MMJSP a tabu-search algorithm is presented. Computational results are reported.
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    An integer concave minimization approach for the minimum concave cost capacitated flow problem on networks (1998)
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    OR spectrum 20 (1998), S. 47-53 
    Details
    ISSN: 1436-6304
    Keywords: Key words:Minimum cost network flow problem, integer concave minimization problem, branch and bound algorithm ; Schlüsselwörter: Kostenminimaler Fluß auf Netzwerken, ganzzahlige konkave Minimierungsprobleme, Branch-and-Bound-Algorithmus
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung. Es wird das Problem eines kostenminimalen Flusses auf Netzwerken mit konkaven Kosten diskutiert. Mit Hilfe einer äquivalenten Formulierung dieses Problems als eine ganzzahlige konkave Minimumsaufgabe wird ein Branch-and-Bound Algorithmus entwickelt, in dem die ganzzahlige Quaderaufteilung und die klassischen Methoden des linearen kostenminimalen Flußproblems angewendet werden. Für den Fall, daß die Kostenfunktion auf einer festen Anzahl der Kanten konkav ist, wird eine Abschätzung der Laufzeit des Algorithmus angegeben. Numerische Ergebnisse zeigen die Brauchbarkeit der Methode.
    Notes: Abstract. Formulating the minimum concave cost capacitated network flow problem as an integer concave minimization problem, we establish finite branch and bound algorithms, in which the branching operation is the so–called integral rectangular partition and the bounding procedure is performed by the classical minimum linear cost flow problem on subnetworks. For the special case that the flow cost function is concave on a fixed number of arcs and linear on the others, an upper bound of the running time is given.
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    OR spectrum 20 (1998), S. 108-108 
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    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01539862
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    Combining make to order and make to stock (1998)
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    OR spectrum 20 (1998), S. 73-81 
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    ISSN: 1436-6304
    Keywords: Inventory control ; production planning ; difference equations ; queueing model ; Markov process ; Lagerhaltung ; Produktionsplanung ; Differenzengleichungen ; Warteschlangen ; Markoff-Prozeß
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung In Lagerhaltung und Produktionsplanung werden überwiegend zwei alternative Strategien betrachtet: Produktion auf Bestellung oder auf Vorrat. Die Nachteile sind bekannt. Die erste Strategie kann zu sehr langen Durchlaufzeiten führen, die zweite zu hohen Beständen, insbesondere bei großer Produktanzahl. In dieser Arbeit werden zwei Modelle betrachtet, in denen die beiden Betrachtungsweisen kombiniert werden.
    Notes: Abstract In inventory control and production planning one is tempted to use one of two strategies: produce all demand to stock or produce all demand to order. The disadvantages are well-known. In the ‘make everything to order’ case (MTO) the response times may become quite long if the load is high, in the ‘make everything to stock’ case (MTS) one gets an enormous inventory if the number of different products is large. In this paper we study two simple models which combine MTO and MTS, and investigate the effect of combining MTO and MTS on the production lead times.
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    OR spectrum 20 (1998), S. 82-82 
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    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
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    URL: http://dx.doi.org/10.1007/BF01539855
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    OR spectrum 20 (1998), S. 90-90 
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    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01539857
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    On the analysis of single server finite queue with state dependent arrival and service processes:M(n)/G(n)/1/K (1998)
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    OR spectrum 20 (1998), S. 83-89 
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    ISSN: 1436-6304
    Keywords: Single server queue ; computational ; state dependent arrival rates ; state dependent service time distributions ; finite ; Ein-Bediener-Modelle ; zustandsabhängige Ankunftsraten ; zustandsabhängige Bedienungszeitverteilungen ; endlicher Warteraum
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung Es wird die Analyse eines endlichen Ein-Bediener-Modells mit Poisson-Ankunft und beliebiger Bedienungszeitverteilung untersucht, worin die Ankunftsrate zustandsabhängig sind, und zwar alle verschieden oder alle gleich, und die Bedienungszeitverteilungen von der Kundenzahl zu Beginn der Bedienung abhängen. Die Ergebnisse werden in Form von rekursiven Gleichungen angegeben, die leicht auf einem PC programmiert werden können. Man erhält so die Verteilungen der Kundenzahlen im System zu beliebigen Zeitpunkten sowie zu Abgangs- und Vorankunftszeiten. Es wird gezeigt, daß die Methode für alle Bedienungszeitverteilungen funktioniert, einschließlich Nicht-Phasen-Typen, und auch für unterschiedliche Werte der Modellparameter. Einige Leistungsmaße und Beziehungen zwischen den Zustandswahrscheinlichkeiten zu beliebigen Zeitpunkten sowie zu Abgangs- und Vorankunftszeiten werden diskutiert. Außerdem wird gezeigt, daß man bekannte Ergebnisse für einfachere Bedienungmodelle als Spezialfälle erhält. Einige numerische Beispiele zeigen die Effektivität unserer Methode.
    Notes: Abstract This paper discusses the analysis of a single server finite queue with Poisson arrival and arbitrary service time distribution, wherein the arrival rates are state dependent which are all distinct or all equal, service times are conditioned on the system length at the moment of service initiation. The analytic analysis of the queue is carried out and the final results have been presented in the form of recursive equations which can be easily programmed on any PC to obtain the distributions of number of customers in the system at arbitrary, departure and pre-arrival epochs. It is shown that the method works for all service time distributions including the non-phase type and also for low and high values of the model parameters. Some performance measures, and relations among the state probabilities at arbitrary, departure and pre-arrival epochs are also discussed. Furthermore, it is shown that results for a number of queueing models can be obtained from this model as special cases. To demonstrate the effectiveness of our method some numerical examples have been presented.
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    OR spectrum 20 (1998), S. 96-96 
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    ISSN: 1436-6304
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
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    URL: http://dx.doi.org/10.1007/BF01539859
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    Inverse maximum capacity problems (1998)
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    OR spectrum 20 (1998), S. 97-100 
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    ISSN: 1436-6304
    Keywords: Inverse problems ; minimum weight cut set ; maximum capacity tree ; maximum capacity path ; minimum unrestricted cut ; Inverse Probleme ; minimal gewichtete Schnittmenge ; Baum maximaler Kapazität ; Pfad maximaler Kapazität ; minimaler unbeschränkter Schnitt
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung Sei ℱ eine Familie von Teilmengen einer endlichen MengeE und¯C ein Kapazitätsvektor bzgl. der Elemente vonE. Für jedesF∈ℱ sei dieKapazität vonF als die minimale inF auftretende Kapazität definiert. Das in dieser Arbeit untersuchte Problem besteht darin, den Vektor¯C so wenig wie möglich abzuändern, sodass ein vorgegebenesF 0∈ℱ maximale Kapazität besitzt. Dieses Modell enthält die inversen Probleme maximaler Kapazität bei aufspannenden Bäumen, Pfaden usw. als Spezialfälle. Wir transformieren das Problem in ein gewichtetes Schnittmengenproblem und zeigen, dass das Problem effizient lösbar ist, wenn ein effizienter Algorithmus zur Bestimmung einer minimalen Schnittmenge bzgl. ℱ zur Verfügung steht.
    Notes: Abstract LetE be a finite set, ℱ be a family of subsets ofE and¯C be a capacity vector for all elements ofE. For eachF∈ℱ, define thecapacity ofF as the minimum capacity occurring inF. The problem which we discuss in this paper is how to change the vector¯C as little as possible so that a givenF 0∈8o has the maximum capacity. This model contains inverse maximum capacity spanning tree problem, inverse maximum capacity path problem and etc. as its special cases. We transform the problem into the minimum weight cut set problem and show that this problem can be solved efficiently if an efficient algorithm for finding minimum weight cut set of ℱ is available.
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    Combining make to order and make to stock (1998)
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    OR spectrum 20 (1998), S. 73-81 
    Details
    ISSN: 1436-6304
    Keywords: Key words: Inventory control, production planning, difference equations, queueing model, Markov process ; Schlüsselwörter: Lagerhaltung, Produktionsplanung, Differenzengleichungen, Warteschlangen, Markoff-Prozeß
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung. In Lagerhaltung und Produktionsplanung werden überwiegend zwei alternative Strategien betrachtet: Produktion auf Bestellung oder auf Vorrat. Die Nachteile sind bekannt. Die erste Strategie kann zu sehr langen Durchlaufzeiten führen, die zweite zu hohen Beständen, insbesondere bei gro{ß}er Produktanzahl. In dieser Arbeit werden zwei Modelle betrachtet, in denen die beiden Betrachtungsweisen kombiniert werden.
    Notes: Abstract. In inventory control and production planning one is tempted to use one of two strategies: produce all demand to stock or produce all demand to order. The disadvantages are well-known. In the ‘make everything to order’ case (MTO) the response times may become quite long if the load is high, in the ‘make everything to stock’ case (MTS) one gets an enormous inventory if the number of different products is large. In this paper we study two simple models which combine MTO and MTS, and investigate the effect of combining MTO and MTS on the production lead times.
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    URL: http://dx.doi.org/10.1007/s002910050054
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    On the analysis of single server finite queue with state dependent arrival and service processes: $M(n)/G(n)/1/K$ (1998)
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    OR spectrum 20 (1998), S. 83-89 
    Details
    ISSN: 1436-6304
    Keywords: Key words: Single server queue, computational, state dependent arrival rates, state dependent service time distributions, finite ; Schlüsselwörter: Ein-Bediener-Modelle, zustandsabhängige Ankunftsraten, zustandsabhängige Bedienungszeitverteilungen, endlicher Warteraum
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung. Es wird die Analyse eines endlichen Ein-Bediener-Modells mit Poisson-Ankunft und beliebiger Bedienungszeitverteilung untersucht, worin die Ankunftsrate zustandsabhängig sind, und zwar alle verschieden oder alle gleich, und die Bedienungszeitverteilungen von der Kundenzahl zu Beginn der Bedienung abhängen. Die Ergebnisse werden in Form von rekursiven Gleichungen angegeben, die leicht auf einem PC programmiert werden können. Man erhält so die Verteilungen der Kundenzahlen im System zu beliebigen Zeitpunkten sowie zu Abgangs- und Vorankunftszeiten. Es wird gezeigt, daß die Methode für alle Bedienungszeitverteilungen funktioniert, einschließlich Nicht-Phasen-Typen, und auch für unterschiedliche Werte der Modellparameter. Einige Leistungsmaße und Beziehungen zwischen den Zustandswahrscheinlichkeiten zu beliebigen Zeitpunkten sowie zu Abgangs- und Vorankunftszeiten werden diskutiert.Außerdem wird gezeigt, daß man bekannte Ergebnisse für einfachere Bedienungmodelle als Spezialfälle erhält. Einige numerische Beispiele zeigen die Effektivität unserer Methode.
    Notes: Abstract. This paper discusses the analysis of a single server finite queue with Poisson arrival and arbitrary service time distribution, wherein the arrival rates are state dependent which are all distinct or all equal, service times are conditioned on the system length at the moment of service initiation. The analytic analysis of the queue is carried out and the final results have been presented in the form of recursive equations which can be easily programmed on any PC to obtain the distributions of number of customers in the system at arbitrary, departure and pre-arrival epochs. It is shown that the method works for all service time distributions including the non-phase type and also for low and high values of the model parameters. Some performance measures, and relations among the state probabilities at arbitrary, departure and pre-arrival epochs are also discussed. Furthermore, it is shown that results for a number of queueing models can be obtained from this model as special cases. To demonstrate the effectiveness of our method some numerical examples have been presented.
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    URL: http://dx.doi.org/10.1007/s002910050055
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    Qualität von Gruppenentscheidungen (1998)
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    OR spectrum 20 (1998), S. 165-177 
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    ISSN: 1436-6304
    Keywords: Schlüsselwörter: Gruppenentscheidungen – Agency-Theorie – Spieltheorie – Simulation ; Key words: Group decisions – Agency-theory – Game theory – Simulation
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Abstract. This article develops a model for calculating the quality of group decisions judged by a profit oriented principal using a simulation approach. The model analyzes the average decision quality of a heterogeneous group considering it's preferences, qualification, size, personal interest, riskaversion, and conformity of it's members. The decision process contains interaction within the group and voting under strategic behaviour, using the Harsanyi/Selten approach. The simulation calculates the chosen alternative and quantifies the impact of the parameters on the average decision quality.
    Notes: Zusammenfassung. Die Qualität von Entscheidungen einer Gruppe mit heterogenen Zielen wird aus Sicht einer gewinnorientierten Instanz untersucht. Dazu erfolgt eine Modellierung des Gruppenentscheidungsprozesses einschließlich Interaktion und Abstimmung mit statistischen und spieltheoretischen Hilfsmitteln (Harsanyi/Selten). Mit einem Simulationsmodell können die Bedeutung von persönlichen Interessen, Qualifikation, Gruppengröße, strategischem Verhalten, Risikoaversion und Konformität quantifiziert werden. Trade offs von Gruppeneigenschaften wie Qualifikation und Zielkonflikt und Implikationen für die Entscheidungsdelegation werden diskutiert. Wichtige Ergebnisse: Die mittlere Qualität verbessert sich durch strategisches Verhalten der Mitglieder, und es lassen sich situativ optimale Gruppengrößen ermitteln.
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    URL: http://dx.doi.org/10.1007/s002910050065
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    Fuzzy Retrieval in fallbasierten entscheidungsunterstützenden Systemen (1998)
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    OR spectrum 20 (1998), S. 189-198 
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    ISSN: 1436-6304
    Keywords: SchlüsselwörterFuzzy Retrieval – Lineare Boolesche Optimierung – Entscheidungsunterstützende Systeme – Angebotssysteme ; Key words: Fuzzy retrieval – Linear Boolean optimization – Decision support systems – Sales systems
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Abstract. This paper describes a technique which determines suitable product offers from data bases using the theory of fuzzy sets. Each of the decision criteria is assessed by the customer. His preferences are transformed into membership functions. One gets a suitable offer by maximizing a function which results from the composition of the individual membership functions. We propose the Werners operator for this composition because – it permits the search for a suitable offer to be performed by solving a linear Boolean optimization task and – it reacts more sensitively to customer wishes than the minimum operator. This approach is also feasible for solely verbal criteria and data bases of bigger size.
    Notes: Zusammenfassung In der Arbeit wird gezeigt, wie mit Hilfe der Theorie der unscharfen Mengen geeignete Angebote aus Datenbanken bestimmt werden können. Zur Berechnung wird jedes der einzelnen Entscheidungskriterien durch den Kunden eingeschätzt. Seine Präferenzen werden in Zugehörigkeitsfunktionen umgesetzt. Ein geeignetes Angebot erhält man nun durch Maximierung einer Funktion, die sich als Komposition der einzelnen Zugehörigkeitsfunktionen ergibt. Für diese Verknüpfung schlagen wir den Werners-Operator vor, da er – die Suche nach einem geeigneten Angebot durch Lösung einer linearen Booleschen Optimierungsaufgabe zuläßt und – sensitiver auf die Kundenwünsche reagiert als der Minimumoperator. Dieser Zugang ist auch möglich bei nur verbal formulierbaren Kriterien und größeren Datenbanken.
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    Planning stability under (s,S) inventory control rules (1998)
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    OR spectrum 20 (1998), S. 215-228 
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    ISSN: 1436-6304
    Keywords: Nervousness ; Rolling horizon planning ; Inventory control rules ; Planungsnervosität ; Rollierende Planung ; Lagerhaltungspolitiken
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung Durch die Anwendung rollierender Planung bei der Steuerung von Lagerhaltungssystemen entsteht Planungsnervosität, die sich in der häufigen Änderung von geplanten Losgrößen in aufeinanderfolgenden Planungszyklen ausdrückt. Für ein einstufiges Lagerhaltungssystem mit stochastischer Nachfrage wird die auflagenorientierte Planungsstabilität für einen gegebenen Stabilitätshorizont bestimmt. Es wird analytisch abgeleitet, wie die Parameter der (s, S) Politik die Planungsstabilität beeinflussen. Es kann gezeigt werden, daß die Wahl des Bestellpunktss keinen Einfluß auf die Planungsstabilität besitzt, während die MindestbestellmengeS-s einen deutlichen Einfluß hat. Weiterhin wird untersucht, wie die Planungsstabilität von der Länge des Stabilitätshorizonts sowie der Gewichtung einzelner Perioden innnerhalb dieses Horizonts abhängt und welchen Einfluß die Genauigkeit der Nachfrageprognose auf die Planungsstabilität besitzt.
    Notes: Abstract The problem of planning instability caused by new and actualized data in material coordination systems with periodic review and replanning activities has been discussed from several viewpoints in literature and it is of great practical importance. The application of a rolling horizon planning framework in forecast-dependent inventory control leads to nervousness in the planning system caused by different order release decisions in successive planning cycles. In this paper a setup-oriented planning stability concerning deviations of planned orders in all periods of a given stability horizon in a single-stage inventory system with arbitrary stochastic demand is analyzed. The influence of an (s, S) control rule on planning stability is derived analytically. It is shown that the reorder points does not affect stability whereas the minimum reorder quantityS-s has a considerable impact. Especially, it is analyzed how planning stability depends on the length of the stability horizon, on period-specific weights, and on the accuracy of demand forecasts.
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    URL: http://dx.doi.org/10.1007/BF01539739
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  • 91
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    Ein Tabu Search-Verfahren für Containerbeladeprobleme mit schwach heterogenem Kistenvorrat (1998)
    Springer
    OR spectrum 20 (1998), S. 237-250 
    Details
    ISSN: 1436-6304
    Keywords: Transport ; Container ; Containerbelade-problem ; Tabu Search ; Praxisrelevante Restriktionen ; Packing ; Container ; Container loading problem ; Tabu search ; Practical restrictions
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Abstract The paper presents a tabu search algorithm (TSA) for weakly heterogeneous container loading problems. The approach includes two integrated components: The generation of different stowage plans by means of a greedy algorithm and a tabu search using an appropriate representation of these plans. The TSA considers some restrictions of practical relevance. The overall algorithm has been applied to numerous benchmark problems and its performance is demonstrated by a numerical comparison with several loading procedures suggested by other authors.
    Notes: Zusammenfassung Gegenstand des Beitrags ist die Entwicklung eines Tabu Search-Verfahrens (TSV) für Containerbeladeprobleme mit schwach heterogenem Kistenvorrat. Das TSV basiert auf einem zweistufigen Verfahrensansatz. Ein integrierter Greedy-Algorithmus dient unmittelbar der Erzeugung von Stauplänen. Vermittelt über eine geeignete Repräsentation zulässiger Problemlösungen wird in einer zweiten Verfahrensstufe eine Tabu-Suche durchgeführt. Das TSV berücksichtigt einige praxisrelevante Restriktionen. Die Performance des TSV wird anhand von Benchmarkproblemen aus der Literatur demonstriert, wobei Containerbeladeverfahren verschiedener Autoren zu Vergleichszwecken herangezogen werden.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01539742
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  • 92
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    Investition bei Unsicherheit als Erklärung für hohe implizite Diskontraten bei Energiesparinvestitionen (1998)
    Springer
    OR spectrum 20 (1998), S. 259-267 
    Details
    ISSN: 1436-6304
    Keywords: Energy conservation ; Market failure ; Real options ; Stochastic ; Dynamic optimisation ; ‘Marktversagen’ bei Energiesparinvestitionen ; Realoptionen ; Stochastische dynamische Optimierung
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung Die Tatsache, daß Konsumenten (und auch Unternehmen) hohe implizite Diskontraten bei der Entscheidung über Energiesparinvestitionen verwenden, wird häufig beobachtet. Dies wird fast einhellig als Marktversagen angesehen und hat viele Analytiker dazu veranlaßt, entweder für öffentliche oder bezuschußte Energiesparinvestitionen zu plädieren. In dieser Arbeit wird die Theorie der Realoptionen auf ein bekanntes Beispiel angewandt: der Wahl zwischen konventioneller Glühbirne und Sparlampe bei unterstellter Risikoneutralität des Entscheidungsträgers. Es zeigt sich, daß die dem Wert der Option des Abwartens und Aufschiebens der Investition Rechnung tragenden impliziten Diskontraten nahe den beobachteten Werten liegen. Deshalb bedarf die Schlußfolgerung eines Marktversagens aus hohen impliziten Diskontraten einer sorgfältigeren und feineren Analyse. Dies trifft a fortiori auf due Empfehlung von Energiesparprogrammen zu.
    Notes: Abstract A well documented observation is that consumers (and also firms) use high implicit discount rates when deciding about energy conservation investments. This fact is almost universally labelled a ‘market failure’, which in turn has led many analysts (most famous Amory Lovins) to argue for either public or utility sponsored conservation programmes. This paper applies the theory of real options to a familiar example: the choice between conventional and energy saving bulbs assuming risk neutral decision makers. The results are that the implicit discount rates accounting for the option value of waiting and delaying the investment are close to reported implicit discount rates. Hence the conclusion of market failure from observed high implicit discount rates requires a more careful and subtle analysis. This applies a fortiori to the recommendation of conservation programmes.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01539744
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  • 93
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    Simple optimal replenishment and disposal policies for a product recovery system with leadtimes (1997)
    Springer
    OR spectrum 19 (1997), S. 111-122 
    Details
    ISSN: 1436-6304
    Keywords: Key words: Stochastic inventory control, remanufacturing, disposal, dynamic programming, decision rules ; Schlüsselwörter Stochastisches Lagerhaltungsproblem, Wiederverwendung, Entsorgung, Dynamische Programmierung, Entscheidungsregeln
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung. Es wird ein Lagerhaltungsproblem mit stochastischer Nachfrage betrachtet, bei dem Produkte nach Gebrauch wieder zurückgegeben werden können. Diese gebrauchten Güter, deren Rückfluß ebenfalls stochastischer Natur ist, können entweder nach entsprechender Aufarbeitung wiederverwendet oder müssen entsorgt werden. Außer durch Wiederaufarbeitung kann die Versorgung mit marktfähigen Produkten durch Neubeschaffung erfolgen. Es wird davon ausgegangen, daß nur proportionale Kosten für die einzelnen Aktivitäten auftreten und daß sowohl Wiederaufarbeitung als auch reguläre Beschaffung mit festen Durchlaufzeiten bzw. Lieferzeiten verbunden sind. Es wird für den Fall periodischer Kontrolle gezeigt, wie die optimale Entscheidungsregel für Beschaffung, Aufarbeitung und Entsorgung mit Hilfe der stochastischen dynamischen Programmierung untersucht werden kann. Dabei wird der entscheidende Einfluß von Durchlauf- und Lieferzeit auf die Komplexität der Entscheidungsregel herausgearbeitet. Schließlich wird gezeigt, für welche Situationen optimale Regeln einfacher Struktur abgeleitet werden können.
    Notes: Abstract. The paper addresses a problem of product recovery management where a single product is stocked in order to fulfill a stochastic demand of customers who may return products after usage, thus generating also stochastic product returns. The material flow can be controlled by procuring new products on the one hand, and by remanufacturing or disposal of returned items on the other. A situation is considered where all costs are proportional and where remanufacturing as well as procurement needs a fixed deterministic leadtime which can be different for both activities. For periodic review control it is shown how the optimal decision rules for procurement, remanufacturing and disposal can be evaluated by exploiting the functional equations of a dynamic programming formulation. The serious impact of leadtimes on the complexity of the control rule is elaborated, and it is demonstrated for which leadtime situations simple optimal policies can be derived.
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    URL: http://dx.doi.org/10.1007/BF01545510
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  • 94
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    Palletisation efficiency as a criterion for product design (1997)
    Springer
    OR spectrum 19 (1997), S. 139-145 
    Details
    ISSN: 1436-6304
    Keywords: Key words: Packing ; pallet loading ; product design. ; Schlüsselwörter: Packprobleme ; Palettenbeladung ; Produktgestaltung.
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung. Der Artikel befaβt sich mit der Frage, wie bei der Gestaltung eines Produkts oder seiner Verpackung die Auswirkungen auf den Nutzungsgrad von Paletten berücksichtigt werden können. Die dabei eingenommene Perspektive ist die umgekehrte der üblichen: an Stelle einer Bewertung vorab bestimmter Alternativen betrachtet der Artikel das Problem, die Wahlmöglichkeiten zu identifizieren, die dem Designer zur Verfügung stehen, wenn ein bestimmter Nutzungsgrad der Palette erreicht werden soll. Zusätzlich zu mehreren algorithmischen Problemstellungen werden verschiedene praktische Aspekte des Problems erörtert. Die Ergebnisse zweier Fallstudien dienen als konkrete Bezugspunkte für alle Teile des Artikels.
    Notes: Abstract. The paper is concerned with the question of how implications for palletisation efficiency may be taken into account in the product/packaging design process. The perspective from which this topic is approached is the reverse of that usually adopted: rather than dealing with an evaluation of pre-determined design alternatives, the paper considers the problem of identifying the options open to the designer if a given palletisation efficiency target is to be achieved. In addition to a number of algorithmic issues various practical aspects of the problem are also discussed. The results of two case studies provide a concrete frame of reference throughout the paper.
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    URL: http://dx.doi.org/10.1007/BF01545515
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  • 95
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    Buchbesprechungen (1997)
    Springer
    OR spectrum 19 (1997), S. 130-130 
    Details
    ISSN: 1436-6304
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01545512
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  • 96
    Electronic Resource
    Electronic Resource
    Simple optimal replenishment and disposal policies for a product recovery system with leadtimes (1997)
    Springer
    OR spectrum 19 (1997), S. 111-122 
    Details
    ISSN: 1436-6304
    Keywords: Stochastic inventory control ; remanufacturing ; disposal ; dynamic programming ; decision rules ; Stochastisches Lagerhaltungsproblem ; Wiederverwendung ; Entsorgung ; Dynamische Programmierung ; Entscheidungsregeln
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung Es wird ein Lagerhaltungsproblem mit stochastischer Nachfrage betrachtet, bei dem Produkte nach Gebrauch wieder zurückgegeben werden können. Diese gebrauchten Güter, deren Rückfluß ebenfalls stochastischer Natur ist, können entweder nach entsprechender Aufarbeitung wiederverwendet oder müssen entsorgt werden. Außer durch Wiederaufarbeitung kann die Versorgung mit marktfähigen Produkten durch Neubeschaffung erfolgen. Es wird davon ausgegangen, daß nur proportionale Kosten für die einzelnen Aktivitäten auftreten und daß sowohl Wiederaufarbeitung als auch reguläre Beschaffung mit festen Durchlaufzeiten bzw. Lieferzeiten verbunden sind. Es wird für den Fall periodischer Kontrolle gezeigt, wie die optimale Entscheidungsregel für Beschaffung, Aufarbeitung und Entsorgung mit Hilfe der stochastischen dynamischen Programmierung untersucht werden kann. Dabei wird der entscheidende Einfluß von Durchlauf- und Lieferzeit auf die Komplexität der Entscheidungsregel herausgearbeitet. Schließlich wird gezeigt, für welche Situationen optimale Regeln einfacher Struktur abgeleitet werden können.
    Notes: Abstract The paper addresses a problem of product recovery management where a single product is stocked in order to fulfill a stochastic demand of customers who may return products after usage, thus generating also stochastic product returns. The material flow can be controlled by procuring new products on the one hand, and by remanufacturing or disposal of returned items on the other. A situation is considered where all costs are proportional and where remanufacturing as well as procurement needs a fixed deterministic leadtime which can be different for both activities. For periodic review control it is shown how the optimal decision rules for procurement, remanufacturing and disposal can be evaluated by exploiting the functional equations of a dynamic programming formulation. The serious impact of leadtimes on the complexity of the control rule is elaborated, and it is demonstrated for which leadtime situations simple optimal policies can be derived.
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  • 97
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    Two new heuristic algorithms for the maximal planar layout problem (1997)
    Springer
    OR spectrum 19 (1997), S. 131-137 
    Details
    ISSN: 1436-6304
    Keywords: Facility layout planning ; planar graphs ; heuristics ; numerical experiments ; Layout-Planung ; Innerbetriebliche Standortplanung ; Planare Graphen ; Heuristiken ; Numerische Experimente
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung Das Nachbarschaftsproblem bildet ein zentrales Problem der innerbetrieblichen Standortplanung. Da es sich um ein NP-vollständiges Problem handelt, sind Heuristiken erforderlich, um große Problemausprägungen zu behandeln. In der vorliegenden Arbeit werden zwei neue Heuristiken für das Nachbarschaftsproblem vorgestellt, die zu einer speziellen Klasse von Eröffnungsverfahren, den sog. Triangulation Expansion Heuristics, gehören. Die Lösungsqualität und der Rechenzeitbedarf der Verfahren werden auf der Grundlage umfangreicher numerischer Experimente untersucht. Dabei erweist sich eine Heuristik gegenüber den bisher besten in der Literatur beschriebenen Verfahren (Eades et al. 1982, Leung 1992) als überlegen.
    Notes: Abstract The adjacency problem is an important subproblem in facility layout planning. It is known to be NP-complete, so heuristics are required to solve “large” problem instances. In this paper two new heuristics for the adjacency problem are introduced which belong to a special class of constructive methods called Triangulation Expansion Heuristics. Extensive numerical experiments have been carried out in order to evaluate the proposed methods in terms of computing times and solution quality. It has been found that at least one method is clearly superior to the best methods proposed in the literature so far (Eades et al. 1982, Leung 1992).
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    URL: http://dx.doi.org/10.1007/BF01545513
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  • 98
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    A capacity-oriented hierarchical approach to single-item and small-batch production planning using project-scheduling methods (1997)
    Springer
    OR spectrum 19 (1997), S. 77-85 
    Details
    ISSN: 1436-6304
    Keywords: Key words: Single-item and small-batch production ; make-to-order production ; hierarchical planning ; project scheduling ; Schlüsselwörter: Einzel- und Kleinserienfertigung ; Kundenauftragsfertigung ; Hierarchische Planung ; Projektplanung
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung. Die meisten in der Praxis eingesetzten Produktionsplanungs- und Steuerungssysteme (PPS-Systeme) besitzen den Nachteil, daß weder eine hierarchische Planung mit Rückkopplungen ermöglicht wird, noch die Ressourcenbeschränkungen auf allen Planungsstufen beachtet werden. Außerdem sind PPS-Systeme meist nicht auf die Anforderungen verschiedener Organisations- und Fertigungstypen, z.B. der Fertigung kleiner Stückzahlen, zugeschnitten. Wir behandeln einen Ansatz für die hierarchische Planung von Einzel- und Kleinserienfertigung bei Kundenauftragsfertigung unter Berücksichtigung beschränkter Ressourcen. Insbesondere werden die Stufen der kapazitierten Hauptproduktionsprogrammplanung, der mehrstufigen Losgrößenplanung, der Termin- und Kapazitätsplanung sowie der Maschinenbelegungsplanung betrachtet, wobei das Niveau der Produkt- und Ressourcenaggregation jeweils von Stufe zu Stufe abnimmt. Die meisten Optimierungsprobleme, die hierbei auf den einzelnen Planungsstufen auftreten, können als res-sourcenbeschränkte Projektplanungsprobleme modelliert werden.
    Notes: Abstract. Most production planning and control (PPC) systems used in practice have an essential weakness in that they do not support hierarchical planning with feedback and do not observe resource constraints at all production levels. Also, PPC systems often do not deal with par-ticular types of production, for example, low-volume production. We propose a capacity-oriented hierarchical approach to single-item and small-batch-production planning for make-to-order production. In particular, the planning stages of capacitated master production scheduling, multi-level lot sizing, temporal and capacity planning, and shop floor scheduling are discussed, where the degree of aggregation of products and resources decreases from stage to stage. It turns out that the optimization problems arising at most stages can be modelled as resource-constrained project scheduling problems.
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    URL: http://dx.doi.org/10.1007/BF01545504
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  • 99
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    Location and layout planning (1997)
    Springer
    OR spectrum 19 (1997), S. 181-194 
    Details
    ISSN: 1436-6304
    Keywords: Discrete and continuous location planning ; warehouse location and center problems ; layout planning ; quadratic assignment and maximal planar graph problem ; Diskrete und kontinuierliche betriebliche Standortplanung ; Warehouse Location- und Zentrenprobleme ; innerbetriebliche Standortplanung ; quadratisches Zuordnungsproblem ; Bestimmung maximaler planarer Graphen
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung Der Beitrag gibt einen Überblick über quantitative Ansätze zur Lösung betriebswirtschaftlicher Standortplanungsprobleme. Es wird zwischen betrieblicher und innerbetrieblicher Standortplanung unterschieden. Abhängig von der zu verfolgenden Zielsetzung und von den zu beachtenden Nebenbedingungen ergibt sich v.a. bei der betrieblichen Standortplanung eine Vielzahl unterschiedlicher Probleme. Zu den wichtigsten Problemstellungen der diskreten und kontinuierlichen betrieblichen Standortplanung (z.B. Warehouse Location-, Zentren-, Location Routing- und Competitive Location-Probleme) werden Grundmodelle beschrieben und Hinweise auf neue Lösungsverfahren gegeben. Auch verallgemeinerte Modelle und neueste Entwicklungen werden skizziert. Im Rahmen der innerbetrieblichen Standortplanung (Layoutplanung) stellen wir das quadratische Zuordnungsproblem und verschiedene graphentheoretische Ansätze sowie geeignete Lösungsverfahren vor.
    Notes: Abstract This paper gives a review on quantitative methods for microeconomic location planning which can be subdivided into facility location and layout planning. Depending on different objectives and restrictions, there is a large variety of problems, especially in the field of facility location planning. Basic models arising in discrete and continuous facility location planning (e.g., warehouse location, center, location routing, competitive location problems), as well as corresponding solution methods, are presented. Generalized models and recent developments in these fields are outlined. Within layout planning, the quadratic assignment problem and graph-theoretic concepts are considered.
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    URL: http://dx.doi.org/10.1007/BF01545586
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  • 100
    Electronic Resource
    Electronic Resource
    An exact algorithm for project scheduling with multiple modes (1997)
    Springer
    OR spectrum 19 (1997), S. 195-203 
    Details
    ISSN: 1436-6304
    Keywords: Project management/scheduling ; discrete resource-resource and time-resource tradeoffs ; mode and delay alternatives ; branch-and-bound ; dominance rules ; computational results ; Projektmanagement/-planung ; diskrete Ressourcen-Ressourcen- und Zeit-Ressourcen-Tradeoffs ; Modus- und Delay-Alternativen ; Branch-and-Bound ; Dominanzregeln ; Rechenergebnisse
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung Wir betrachten eine Erweiterung des klassischen Resource-Constrained Project Scheduling Problems (RCPSP), die die Abbildung von Ressourcen-Ressourcen- und Zeit-Ressourcen-Tradeoffs ermöglicht. Damit ist der Projektplaner in der Lage, für jeden Vorgang des Projekts mehrere Ausführungsalternativen (Modi) anzugeben. Der von uns vorgestellte Algorithmus ist eine Verallgemeinerung des derzeit schnellsten Branch-and-Bound-Verfahrens für das RCPSP von Demeulemeester und Herroelen. Wir erweitern deren Konzept der Delay-Alternativen um sogenannte Modus-Alternativen. Die Enumeration wird mit Hilfe von Dominanzregeln beschleunigt. Schließlich fassen wir unsere Rechenergebnise zusammen, in denen wir unser Verfahren mit dem derzeit schnellsten aus der Literatur bekannten Algorithmus vergleichen.
    Notes: Abstract We consider an extension of the classical resource-constrained project scheduling problem (RCPSP), which covers discrete resource-resource and time-resource tradeoffs. As a result a project scheduler is permitted to identify several alternatives or modes of accomplishment for each activity of the project. The solution procedure to be presented is a considerable generalization of the branch-and-bound algorithm proposed by Demeulemeester and Herroelen, which is currently the most powerful method for optimally solving the RCPSP. More precisely, we extend their concept of delay alternatives by introducing mode alternatives. The basic enumeration scheme is enhanced by dominance rules which increase the performance of the algorithm. We then report on our computational results obtained from the comparison with the most rapid procedure reported in the literature.
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    URL: http://dx.doi.org/10.1007/BF01545587
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