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Detailed schedule
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Thursday 30 January:
Thursday 11:15-12:30 TA-1: COMEX - Optimization 1 Room Vesale 023 - Chair: M. Schyns
Thursday 11:15-12:30 TA-2: Software and Implementation Room Vesale 020 - Chair: M. Mezmaz
Thursday 11:15-12:30 TA-3: COMEX - Smart mobility Room Vesale 025 - Chair: A. Caris
Thursday 11:15-12:30 TA-4: Systems Room Pentagone 0A11 - Chair: P. Kunsch
Thursday 14:00-15:40 TB-1: Data Analysis 1 Room Vesale 023 - Chair: X.Siebert
Thursday 14:00-15:40 TB-2: Multiple Objectives Room Vesale 020 - Chair: Y. de Smet
Thursday 14:00-15:40 TB-3: Logistics Room Vesale 025 - Chair: D. De Wolf
Thursday 14:00-15:40 TB-4: COMEX - Applications to Economy Room Pentagone 0A11 - Chair: W. Brauers
- Heuristics for Varian's Index
Bart Smeulders (KU Leuven) Co-authors: Frits C.R. Spieksma
- Investment in Shares by MULTIMOORA Multiple Objectives Optimization
Willem K. M. Brauers (Vilnius Gediminas Technical University and University of Antwerp) Abstract: Willem K. M. Brauers, Vilnius Gediminas Technical University and University of Antwerp, Faculty of Applied Economics.
Romualdas Ginevicius, Faculty of Business Management, Dept. of Economics and Management of Enterprises, Vilnius Gediminas Technical University.
Abstract:
Shareholders participate in the capital of a company. In a company quoted on a Stock Exchange, this ownership is rather passive as the shareholders are excluded from any form of management, with exception for the reference shareholders.
Investments in stocks from a selection of companies with a different activity or a different location will diminish the risk after the saying: "you must not put all your eggs in one basket". In addition, the advices of experts will help too. These advices may have different forms, such as from:
Credit Rating Agencies like Moody, Standard&Poor's and Fitch, a general theory about investment in stocks such as the Buffet philosophy, the advice of one or different experts based on: their personal experience, company balance analyses, interviews with managers or sampling. Why not on basis of Multiple Objectives Optimization, which would be new and preferably for leading World Indices such as: Dow Jones?Industrial New York, FTSE100 London or Nikkei225 Tokyo?
Taking into consideration for instance 6 objectives would lead to a matrix of 600 elements for the FTSE100 London and for Nikkei225 Tokyo even more. Therefore a MOO approach which can handle large matrices has to be chosen. MULTIMOORA responds to this condition and, even more, is composed of three different methods which can control each other and is based on dimensionless measures, excluding the difficult problem of normalization. In order to summarize the 3 outcomes a Theory of Domination is applied.
To make the application much simpler the Belgian Bel20 Index was used but with 8 objectives, specific for Belgium. With the three Bank shares excluded, due to the instability of banks at the moment, the matrix involved still counted 102 elements. As a measure of importance a 9th objective was added under the form of the opinion of the analysts for each share which stresses a general opinion on each share.
The analysts lead to the following advices:
1 ? 1.49 buy
1.5. – 2.49 increase your stock
2.5 – 3.49 hold
3.5 – 4.49 decrease your stock
4.5 – 5 sell.
General Remarks: The application concerns the past. Pure extrapolation has no sense for such a fluctuating market. Many other factors have to be taken into consideration. Regularly revisions are needed. Companies with an effective management are assumed. Finally, there are the Unknown Unknowns or may we say the Economics of Uncertainty? For instance, a combination of Earthquake, Tsunami and Atomic Plants disasters is certainly fatal for insurance companies.
Concerning the Belgian BEL20 Index changes in composition are typical, due to severe regulations and the rather small size of the Belgian companies. In addition, since the birth of NYSE?EURONEXT, grouping the places of New York, Brussels, Paris, Amsterdam and Lisbon, the importance of the place of Brussels diminished considerably. Therefore this investigation is just an exercise how to operate similar studies. It would be preferable that a larger group than our two researchers would repeat the application for a larger Stock Exchange Index such as those of Tokyo, London or New York.
- Estimating collaborative profits under varying partner characteristics and strategies
Christine Vanovermeire (University of Antwerp) Co-authors: Daniel Palhazi Cuervo; Kenneth Sörensen
- Gain sharing in a collaborative selective vehicle routing problem
Christof Defryn (University of Antwerp) Co-authors: Kenneth Sörensen
Thursday 14:00-15:40 TB-5: Networks Room Pentagone 0A07 - Chair: B. Fortz
Thursday 16:10-17:25 TC-1: Mixed-integer nonlinear programming Room Vesale 023 - Chair: Y. Crama
Thursday 16:10-17:25 TC-2: Decision Analysis 1 Room Vesale 020 - Chair: S. Eppe
Thursday 16:10-17:25 TC-3: Routing Room Vesale 025 - Chair: K. Sörensen
Thursday 16:10-17:25 TC-4: Graphs Room Pentagone 0A11 - Chair: H. Mélot
Thursday 16:10-17:25 TC-5: Scheduling Room Pentagone 0A07 - Chair: S. Hanafi
Friday 9:00-10:15 FA-1: Queuing Room Vesale 023 - Chair: S. Wittevrongel
Friday 9:00-10:15 FA-2: Decision Analysis 2 Room Vesale 020 - Chair: R. Bisdorff
Friday 9:00-10:15 FA-3: COMEX - Optimization 2 Room Vesale 025 - Chair: M. Labbé
Friday 9:00-10:15 FA-4: Production Room Pentagone 0A11 - Chair: D. Tuyttens
Friday 14:00-15:40 FB-1: Data Analysis 2 Room Vesale 023 - Chair: P. Fortemps
Friday 14:00-15:40 FB-2: Heuristics Room Vesale 020 - Chair: T. Stützle
Friday 14:00-15:40 FB-3: COMEX - Transportation Room Vesale 025 - Chair: F. Spieksma
Friday 14:00-15:40 FB-4: Health Room Pentagone 0A11 - Chair: G. Vanden Berghe
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