Ilya O. Ryzhov is an Associate Professor of Operations Management and Management Science at the Robert H. Smith School of Business, University of Maryland. His research focuses on decision-making under uncertainty with applications in business analytics. He is an Associate Editor at Operations Research, and received the 2017 INFORMS Simulation Society Outstanding Publication Award, as well as the 2020 INFORMS Urban Transportation SIG Outstanding Paper Award.
| Name of Speaker | A/P Ilya O. Ryzhov |
| Schedule | Friday 3 September 2021, 10am |
| Link to Register | https://nus-sg.zoom.us/meeting/register/tZ0lce-grTMpHNKr4ldsTPL-uZEjwfAgtNAx |
| Title | Data-driven robust resource allocation with monotonic cost functions |
| Abstract | This work illustrates the potential of statistical methods in operations research problems. We consider a two-stage planning problem (arising, e.g., in city logistics) where a resource is first divided among a set of independent regions, and then costs are incurred based on the allocation to each region. Costs are decreasing in the quantity of the resource, but their precise values are unknown. We develop a new data-driven uncertainty model for monotonic cost functions, which can be used in conjunction with robust optimization to obtain tractable allocation decisions that significantly improve worst-case performance outcomes. |
