Dependence in operations : modeling and applications

Malladi, V (2018) Dependence in operations : modeling and applications. PhD thesis, The University of Texas at Austin.

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Abstract

Operations Management is replete with examples where dependence in risk has large financial consequences. Modeling dependence in multi-dimensional systems is a hard problem. Traditional models of dependence suffer from the curse of dimensionality. This dissertation introduces a framework, called subordinated Markov chains, to model dependence in risk and demonstrates the efficacy of the framework for two applications in operations management. First, the mathematical validity of the framework is established along with simulation algorithms for the framework. Next, the framework is used to model dependent outages of electricity power plants and to model the joint disruptions in the facility location problem.

Affiliation: Indian School of Business
ISB Creators:
ISB CreatorsORCiD
Malladi, VUNSPECIFIED
Item Type: Thesis (PhD)
Additional Information: The research article was published by the author with the affiliation of University of Texas at Austin
Uncontrolled Keywords: Information, Risk, Operations Management
Subjects: Operations Management
Depositing User: Mohan Dass
Date Deposited: 09 Apr 2019 07:30
Last Modified: 09 Apr 2019 07:30
URI: http://eprints.exchange.isb.edu/id/eprint/775
Publisher URL: https://repositories.lib.utexas.edu/handle/2152/68...
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