Five Common Options For Workforce Flexibility And Their Robustness Under Uncertain Demand Are Investigated. In The First Stage, A Firm Makes Optimal Staffing Decisions According To Estimated Demand And A Given Workforce Flexibility Policy. In The Second Stage, It Reallocates Its Workforce To...

From the decision-based design perspective, decision making is the critical element of the design process. All practical decision making occurs under some degree of uncertainty. Subjective expected utility theory is a well-established method for decision making under uncertainty; however, it...

Early phases of design are characterized by risk and uncertainty. Appropriate accounting for this uncertainty is an important requirement for any designer. This work suggests collapsing risk and uncertainty into a single metric called the probability of success, which accounts for the...

Managing commodity price uncertainty is an integral part of many firms' business process. Firms adopt a variety of operational strategies to manage this uncertainty, subject to operational constraints such as finite procurement and processing capacities. The availability of financial derivative...