A single-resource allocation problem with Poisson resource requirements

A single-resource allocation problem with Poisson resource requirements

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Article ID: iaor200971536
Country: Germany
Volume: 3
Issue: 4
Start Page Number: 559
End Page Number: 571
Publication Date: Sep 2009
Journal: Optimization Letters
Authors: ,
Abstract:

We consider a stochastic resource allocation problem that generalizes the knapsack problem to account for random item weights that follow a Poisson distribution. When the sum of realized weights exceeds capacity, a penalty cost is incurred. We wish to select the items that maximize expected profit. We provide an effective solution method and illustrate the advantages of this approach via computational experiments.

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