Error noted in a case study on fund allocation using goal programming

Article Abstract:

R. Khorramshahgol and A.A. Okoruwa's goal programming approach to solving fund allocation problems was flawed in having an incomplete problem formulation and an erroneous solution. To this end, the problem is redefined according to three criteria, namely, patronization rate, average income and principal tenants. Unlike the original formulation, this model results in multiple solutions, one of which is superior to the author's solutions derived using the Delphi technique and the Poisson gravity model.

Operations Research, Correction Notice

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Optimal designs of syndicated panels: a mathematical programming approach

Article Abstract:

The sampling design of longitudinal surveys known as syndicated panels is considered. Specifically, mathematical programming techniques are employed to handle the cost-benefit tradeoffs between the panel's costs and revenues, and its risk of sampling errors in determining a panel's composition and size. This leads to models of cross-sectional polls, two-wave panels and multi-wave panels that encapsulate the panel planning criteria which are not captured by statistical techniques.

Models, Marketing research, Market research, Optimization theory, Mathematical programming

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Dynamic project selection and funding under risk: a decision tree based MILP approach

Article Abstract:

A mixed integer linear programming model that facilitates dynamic project selection and funding in the presence of risk and scarce resources is introduced. The model, which has been implemented in a decision support system, is based on a stochastic decision tree which permits continuous control of discrete branching probability distribution through the use of piecewise linear control functions that are concave for the benefits and convex for the costs.

Linear programming, Decision tree, Decision trees

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