{"585736":{"#nid":"585736","#data":{"type":"event","title":"ISyE Seminar - Dave Morton","body":[{"value":"\u003Cp\u003ETitle: Optimizing Prioritized and Nested Solutions\u003C\/p\u003E\r\n\r\n\u003Cp\u003E\u0026nbsp;\u003C\/p\u003E\r\n\r\n\u003Cp\u003EAbstract: A typical optimization model in operations research allocates limited resources among competing activities to derive an optimal portfolio of activities. In contrast, practitioners often form a rank-ordered list of activities, and select those with the highest priority, at least when choosing an activity is a yes-no decision. Ranking schemes that score activities individually are well known to be inferior. So, we describe a class of two-stage stochastic integer programs that accounts for structural and stochastic dependencies across activities and constructs an optimized priority list. We further discuss a class of optimization models, subject to a single \u0026quot;budget\u0026quot; constraint, that naturally leads to a family of optimal nested solutions at certain budget increments. We use several applications to both motivate the work and illustrate results, ranging from a stochastic facility location model to a hierarchical graph clustering problem. We also describe possible extensions.\u003C\/p\u003E\r\n\r\n\u003Cp\u003E\u0026nbsp;\u003C\/p\u003E\r\n\r\n\u003Cp\u003EBio: David Morton is a Professor of Industrial Engineering and Management Sciences at Northwestern University. His research interests include stochastic and large-scale optimization with applications in security, public health, and energy systems. He received a B.S. in Mathematics and Physics from Stetson University and an M.S. and Ph.D. in Operations Research from Stanford University.\u0026nbsp; Prior to joining Northwestern, he was on the faculty at the University of Texas at Austin, worked as a Fulbright Research Scholar at Charles University in Prague, and was\u003C\/p\u003E\r\n","summary":null,"format":"limited_html"}],"field_subtitle":"","field_summary":"","field_summary_sentence":[{"value":"ISyE Seminar - Dave Morton"}],"uid":"27187","created_gmt":"2017-01-10 15:13:24","changed_gmt":"2017-04-13 21:13:24","author":"Anita Race","boilerplate_text":"","field_publication":"","field_article_url":"","field_event_time":{"event_time_start":"2017-03-08T15:00:00-05:00","event_time_end":"2017-03-08T16:00:00-05:00","event_time_end_last":"2017-03-08T16:00:00-05:00","gmt_time_start":"2017-03-08 20:00:00","gmt_time_end":"2017-03-08 21:00:00","gmt_time_end_last":"2017-03-08 21:00:00","rrule":null,"timezone":"America\/New_York"},"extras":[],"groups":[{"id":"1242","name":"School of Industrial and Systems Engineering (ISYE)"}],"categories":[],"keywords":[],"core_research_areas":[],"news_room_topics":[],"event_categories":[{"id":"1795","name":"Seminar\/Lecture\/Colloquium"}],"invited_audience":[{"id":"78761","name":"Faculty\/Staff"},{"id":"78771","name":"Public"},{"id":"78751","name":"Undergraduate students"},{"id":"174045","name":"Graduate students"}],"affiliations":[],"classification":[],"areas_of_expertise":[],"news_and_recent_appearances":[],"phone":[],"contact":[],"email":[],"slides":[],"orientation":[],"userdata":""}}}