​[Lecture] Applications of Joint Stochastic Orders in Arrangement and Allocation
 
time: 2017-05-18

Title: Applications of Joint Stochastic Orders in Arrangement and Allocation

Speaker: George Shanthikumar

Time: 14:30-15:30, May 19, 2017

Venue: Zhuanghui Hall, Building 12, Wushan Campus


Host: Department of Industrial Engineering


Introduction to the Speaker: 

Dr. J. George Shanthikumar is the Richard E. Dauch Distinguished Chair in Manufacturing and Operations Management at Krannert School of Management, Purdue University. He was previously a Chancellor’s Professor of Industrial Engineering and Operations Research at the University of California, Berkeley. His research interests are in integrated interdisciplinary decision making, model uncertainty and learning, production systems, queueing theory, reliability, scheduling, semiconductor yield management, simulation and stochastic processes. He has published over 300 papers on these topics and 3 books. He has extensively consulted for various companies. He is an advisory consultant for Sensor Analytics and a member of the technical advisory board of Inter Molecular Inc. and Reel Solar, Inc. 


Abstract: 

We provide a general framework to model a system consisting of multiple subsystems. Each subsystem’s performance depends on the allocation policy and some random parameters. Our interest is in identifying the conditions on the response function of the subsystems, the system performance function and the random parameters under which the random system performance as a function of the resource allocation has stochastic arrangement increasing property. This allows one to substantially reduce the number of allocation that needs to be searched to identify an optimal allocation that maximizes the expected utility derived from the system response as a result of the resource allocation.