Hybrid journal (It can contain Open Access articles) ISSN (Print) 1757-5850 - ISSN (Online) 1757-5869 Published by Inderscience Publishers[449 journals]

Authors:Justin Chirima, Eriyoti Chikodza, Senelani Dorothy Hove-Musekwa Pages: 1 - 23 Abstract: Uncertain stochastic calculus is a relatively new sub discipline of mathematics. This branch of mathematical sciences seeks to develop models that capture aleatory and epistemic features of generic uncertainty in dynamical systems. The growth of uncertain stochastic theory has given birth to a novel class of differential equations called uncertain stochastic differential equations (USDEs). Exact and analytic solutions to this family of differential equations are not always available. In such cases, numerical analysis provides a gateway to approximate solutions. This paper examines a Runge-Kutta method for solving USDEs. Before examining and applying the Runge-Kutta method, the paper states and proves the existence and uniqueness theorem. The Runge-Kutta method is then applied to solve an American call option pricing problem. This numerical algorithm proves to be effective and efficient because it produces almost the same results as compared to Chen's analytic formula and the classical Black-Scholes model. Keywords: Runge-Kutta; call option; uncertainty; aleatory; epistemic Citation: International Journal of Mathematics in Operational Research, Vol. 16, No. 1 (2020) pp. 1 - 23 PubDate: 2020-01-28T23:20:50-05:00 DOI: 10.1504/IJMOR.2020.104679 Issue No:Vol. 16, No. 1 (2020)

Authors:Cristhian Chingo, Javier MartÃnez-GÃ³mez, Ricardo A. NarvÃ¡ez C. Pages: 24 - 52 Abstract: The present work aims to be a useful information about the novel MCDM methods applied on geomembranes in order to select the best alternative for construction. Qualitative and quantitative information will be used to do the best choice. AHP method is used to calculate the weight (importance) of the different criteria which uses the subjective information to assign numeric values among 0 and 1, being better weights with values near to 1. COPRAS-G, OCRA, TOPSIS, VIKOR, EXPROM II and ORESTE methods are applied as MCDM methods in order to perform the more accurate selection using relevant information about the features of different materials. These methods use the weight obtained by AHP for ranking the best alternative, whose result contains subjective and objective information. Finally, all methods are standardised with a unique equations template, which makes it easier to understand all of them in subsequent applications. Keywords: geomembranes; multi-criteria decision making; MCDM; qualitative; quantitative; standardised; weight Citation: International Journal of Mathematics in Operational Research, Vol. 16, No. 1 (2020) pp. 24 - 52 PubDate: 2020-01-28T23:20:50-05:00 DOI: 10.1504/IJMOR.2020.104683 Issue No:Vol. 16, No. 1 (2020)

Authors:G. Ayyappan, M. Nirmala Pages: 53 - 81 Abstract: Batch arrival bulk service queueing system has been effectively used to model many real life systems like production, manufacturing, transportation as well as telecommunication. Characteristic like second optional service, service interruption, closedown time, multiple vacation, setup time with N policy, etc. have been respectively considered in such models. So far, no comprehensive combination of these characteristics have been reported in the literature. This paper deals with the analysis of a non-Markovian batch arrival bulk service queue with a general combination of all the above mentioned characteristics. Keywords: general bulk service; unreliable server; closedown; multiple vacation; setup with N-policy; optional service Citation: International Journal of Mathematics in Operational Research, Vol. 16, No. 1 (2020) pp. 53 - 81 PubDate: 2020-01-28T23:20:50-05:00 DOI: 10.1504/IJMOR.2020.104686 Issue No:Vol. 16, No. 1 (2020)

Authors:R. Sudhesh, A. Azhagappan Pages: 82 - 97 Abstract: This paper studies the impatient behaviour in an infinite server queue with additional tasks assigned to the system. Whenever the system becomes empty, the system as a whole is assigned a secondary task of duration <i>U</i> whose distribution is exponential. Any arrival during the period <i>U</i> becomes impatient due to the unavailability of service facility. Each individual waiting customer activates an independent impatience timer of duration <i>T</i> which is exponentially distributed. When the system comes back after the completion of <i>U</i>, before <i>T</i> expires, the waiting customers are simultaneously taken for service and they leave the system after the completion of service. If <i>T</i> expires before the completion of task <i>U</i>, the customers abandon the system and never to return. The transient system size probabilities of this model are derived explicitly for both single and multiple task cases. The time-dependent mean and variance of system size are also derived. Further, numerical simulations are also presented to analyse the effect of system indices. Keywords: infinite server queue; single and multiple tasks; impatient customers; transient probabilities Citation: International Journal of Mathematics in Operational Research, Vol. 16, No. 1 (2020) pp. 82 - 97 PubDate: 2020-01-28T23:20:50-05:00 DOI: 10.1504/IJMOR.2020.104680 Issue No:Vol. 16, No. 1 (2020)

Authors:J. Arul Valan, E. Baburaj, P. Parthiban Pages: 98 - 117 Abstract: Healthcare systems are supported by blood service operations. Restricted usage limit of 21 days and stochastic nature of demand against the supply are the challenges in the field and results in complex situations. The paper focuses on the model mentioned for which a regionalised blood banking system is considered. Typically, it consists of hospitals, regional blood banks, in addition to central blood banks. The 20 factors that influence is weighed and raked using multiple criterion decision making (MCDM) methods. Interpretive structural modelling (ISM) gives the influence of a factor on another and determines weights. Fuzzy-TOPSIS is used to quantify the qualitative values systematically and rank the alternatives. The relative ranking enables to identify best alternative. The procedure for a single central blood bank executed may be extended to similar central blood banks. Supply chain optimisation of perishable products is possible with the framework proposed, with suitable modifications. Keywords: influencing factors; relative ranking; interpretive structural modelling; ISM; fuzzy TOPSIS Citation: International Journal of Mathematics in Operational Research, Vol. 16, No. 1 (2020) pp. 98 - 117 PubDate: 2020-01-28T23:20:50-05:00 DOI: 10.1504/IJMOR.2020.104682 Issue No:Vol. 16, No. 1 (2020)

Authors:Massimiliano Caramia, Mattia Dalla Costa Pages: 118 - 137 Abstract: In this paper, we show an application of bilevel programming to the problem of locating waste collection centres inside a municipal area. In our study, the latter problem possesses a hierarchical structure, i.e., there are two decision makers, one of which acts as a leader and the other behaves as a follower. Therefore, we exhibit a bilevel optimisation program able to capture this hierarchy and propose an iterative algorithm to solve the problem. This solution proposal is then tested on data derived from a real scenario. Experimental results reveal that the approach is effective in this kind of decision problems. Keywords: bilevel programming; facility location; waste collection Citation: International Journal of Mathematics in Operational Research, Vol. 16, No. 1 (2020) pp. 118 - 137 PubDate: 2020-01-28T23:20:50-05:00 DOI: 10.1504/IJMOR.2020.104681 Issue No:Vol. 16, No. 1 (2020)