Learn More
This paper builds on a previously proposed approach where fuzzy logic is used to incorporate linguistic variables in system dynamics modeling. The motivation for this approach is to include vague yet dynamic variables that are combined in a meaningful way. The essence of our approach requires the definition of membership functions as representations of the(More)
The quality of decision making in collaborative design is highly dependent upon the designer's ability to seek relevant information and interpret the available information within the appropriate domain to understand the design problem. It is unlikely that right decisions will be achieved based on inaccurate and incomplete information. This paper discusses a(More)
  • Shuren Liu
  • 2011
In this paper, we study a single-period stochastic cash balance problem in CVaR framework. We characterize the optimal policy for this problem. Furthermore, we show that the optimal policy parameters for this problem have the monotonicity property on the degree of risk aversion when there is no lost sale penalty cost, and the corresponding conclusion may(More)
  • 1