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This article may be used for research, teaching and private study purposes. Any substantial or systematic reproduction, redistribution , reselling , loan or sub-licensing, systematic supply or distribution in any form to anyone is expressly forbidden. The publisher does not give any warranty express or implied or make any representation that the contents(More)
T he significant growth of the hedge funds industry in the past decade has heen supplemented by increased allocations to alternative investments by high-net-worth individuals as well as endowments and foundations. In recetit years, there has been a steady shift in pension plan investment strategies toward aiternative investments and/or hedge funds. For(More)
The application of fuzzy set theory to renewal reward processes is proposed in this paper. The reward is modeled as a fuzzy random variable. A theorem which presents the long-run average fuzzy reward per unit time is stated. A procedure to obtain the best T-age replacement policy with fuzzy cost structure is developed. The original problem is transformed(More)
The standard treatment for most advanced cancers is multidrug therapy. Unfortunately, combinations in the clinic often do not perform as predicted. Therefore, to complement identifying rational drug combinations based on biological assumptions, we hypothesized that a functional screen of drug combinations, without limits on combination sizes, will aid the(More)
Bayesian forecasting models provide distributional estimates for random parameters, and relative to classical schemes, have the advantage that they can rapidly capture changes in nonstationary systems using limited historical data. Unlike deterministic optimization, stochastic programs explicitly incorporate distributions for random parameters in the model(More)
Understanding and engineering the domain boundaries in chemically vapor deposited monolayer graphene will be critical for improving its properties. In this study, a combination of transmission electron microscopy (TEM) techniques including selected area electron diffraction, high resolution transmission electron microscopy (HR-TEM), and dark field (DF) TEM(More)
A new maintenance policy which minimizes the total expected servicing cost for an item with two–dimensional warranty is proposed. An iterative procedure to estimate the item's failure rate function from historical observations and an optimization algorithm based on Monte Carlo simulation are applied to obtain the best maintenance policy. Numerical examples(More)
We consider portfolio allocation in which the underlying investment instruments are hedge funds. We consider a family of utility functions involving the probability of outperforming a benchmark and expected regret relative to another benchmark. Non-normal return vectors with prescribed marginal distributions and correlation structure are modeled and(More)
We consider four utility functions, each of which incorporates a benchmark to better capture the motivations of today's portfolio managers. Assuming instrument returns are normally distributed, we establish conditions under which optimal portfolios for these utilities are mean-variance efficient and we briefly discuss computing solutions of the models via(More)