Browsing Department of Business and Management Science by Author "Prochazka, Vit"
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Stochastic programs with binary distributions: Structural properties of scenario trees and algorithms
Prochazka, Vit; Wallace, Stein W. (Discussion paper;12/17, Working paper, 2017-10-27)Binary random variables often refer to such as customers that are present or not, roads that are open or not, machines that are operable or not. At the same time, stochastic programs often apply to situations where penalties ... -
The value of foresight in the drybulk freight market
Prochazka, Vit; Adland, Roar; Wallace, Stein W. (Discussion paper;1/18, Working paper, 2018-01-31)We analyze the value of foresight in the drybulk freight market when repositioning a vessel through space and time. In order to do that, we apply an optimization model on a network with dynamic regional freight rate ... -
The value of timecharter optionality in the drybulk market
Ådland, Roar Os; Prochazka, Vit (Peer reviewed; Journal article, 2020)Using an optimization model on a network with stochastic travel times we estimate the value of flexible worldwide redelivery compared to the more constrained Atlantic ocean option. We evaluate the value of the redelivery ...