Banks have many variants of a product which they can offer to their customers. For example, a credit card can have different interest rates. So determining which variants of a product to offer to the new customers and...Banks have many variants of a product which they can offer to their customers. For example, a credit card can have different interest rates. So determining which variants of a product to offer to the new customers and having some indication on acceptance probability will aid with the profit optimisation for the banks. In this paper, the authors look at a model for maximisation of the profit looking at the past information via implementation of the dynamic programming model with elements of Bayesian updating. Numerical results are presented of multiple variants of a credit card product with the model providing the best offer for the maximum profit and acceptance probability. The product chosen is a credit card with different interest rates.展开更多
Urban Transit Scheduling Problem (UTSP) is concerned with determining reliable transit schedules for buses and drivers by considering the preferences of both passengers and operators based on the demand and the set of...Urban Transit Scheduling Problem (UTSP) is concerned with determining reliable transit schedules for buses and drivers by considering the preferences of both passengers and operators based on the demand and the set of transit routes. This paper considered a UTSP which consisted of frequency setting, timetabling, and simultaneous bus and driver scheduling. A mixed integer multiobjective model was constructed to optimize the frequency of the routes by minimizing the number of buses, passenger’s waiting times and overcrowding. The model was further extended by incorporating timeslots in determining the frequencies during peak and off-peak hours throughout the time period. The timetabling problem studied two different scenarios which reflected the preferences of passengers and operators to assign the bus departure times at the first and last stop of a route. A set covering model was then adopted to minimize the number of buses and drivers simultaneously. A parallel tabu search algorithm was proposed to solve the problem by modifying the initialization process and incorporating intensification and diversification approaches to guide the search effectively from the different feasible domain in finding optimal solutions with lesser computational effort. Computational experiments were conducted on the well-known Mandl’s and Mumford’s benchmark networks to assess the effectiveness of the proposed algorithm. Competitive results are reported based on the performance metrics, as compared to other algorithms from the literature.展开更多
文摘Banks have many variants of a product which they can offer to their customers. For example, a credit card can have different interest rates. So determining which variants of a product to offer to the new customers and having some indication on acceptance probability will aid with the profit optimisation for the banks. In this paper, the authors look at a model for maximisation of the profit looking at the past information via implementation of the dynamic programming model with elements of Bayesian updating. Numerical results are presented of multiple variants of a credit card product with the model providing the best offer for the maximum profit and acceptance probability. The product chosen is a credit card with different interest rates.
文摘Urban Transit Scheduling Problem (UTSP) is concerned with determining reliable transit schedules for buses and drivers by considering the preferences of both passengers and operators based on the demand and the set of transit routes. This paper considered a UTSP which consisted of frequency setting, timetabling, and simultaneous bus and driver scheduling. A mixed integer multiobjective model was constructed to optimize the frequency of the routes by minimizing the number of buses, passenger’s waiting times and overcrowding. The model was further extended by incorporating timeslots in determining the frequencies during peak and off-peak hours throughout the time period. The timetabling problem studied two different scenarios which reflected the preferences of passengers and operators to assign the bus departure times at the first and last stop of a route. A set covering model was then adopted to minimize the number of buses and drivers simultaneously. A parallel tabu search algorithm was proposed to solve the problem by modifying the initialization process and incorporating intensification and diversification approaches to guide the search effectively from the different feasible domain in finding optimal solutions with lesser computational effort. Computational experiments were conducted on the well-known Mandl’s and Mumford’s benchmark networks to assess the effectiveness of the proposed algorithm. Competitive results are reported based on the performance metrics, as compared to other algorithms from the literature.
