{"id":"https://openalex.org/W3093538908","doi":null,"title":"Applications of Real Options To Data-Based Decision Making In Operational Problems","display_name":"Applications of Real Options To Data-Based Decision Making In Operational Problems","publication_year":2019,"publication_date":"2019-01-01","ids":{"openalex":"https://openalex.org/W3093538908","mag":"3093538908"},"language":"en","primary_location":{"id":"pmh:oai:deepblue.lib.umich.edu:2027.42/151533","doi":null,"is_oa":true,"landing_page_url":"https://hdl.handle.net/2027.42/151533","pdf_url":"https://hdl.handle.net/2027.42/151533","source":{"id":"https://openalex.org/S4306400393","display_name":"Deep Blue (University of Michigan)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I27837315","host_organization_name":"University of Michigan","host_organization_lineage":["https://openalex.org/I27837315"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Thesis"},"volume":null,"type":"dissertation","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://hdl.handle.net/2027.42/151533","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5067749573","display_name":"Jingxing Wang","orcid":"https://orcid.org/0000-0001-7979-5632","observed_orcids":["https://orcid.org/0000-0001-7979-5632"]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Jingxing Wang","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0001-7979-5632","affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":["https://openalex.org/A5067749573"],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":0,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11976","display_name":"Capital Investment and Risk Analysis","score":0.9628999829292297,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11976","display_name":"Capital Investment and Risk Analysis","score":0.9628999829292297,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10067","display_name":"Stochastic processes and financial applications","score":0.012000000104308128,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11413","display_name":"Risk and Portfolio Optimization","score":0.011800000444054604,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/real-options","display_name":"real options","score":0.996999979019165},{"id":"https://openalex.org/keywords/data-driven-decision-making","display_name":"data-driven decision making","score":0.7080000042915344},{"id":"https://openalex.org/keywords/operational-risk-management","display_name":"operational risk management","score":0.5460000038146973},{"id":"https://openalex.org/keywords/risk-aversion","display_name":"risk aversion","score":0.7620000243186951},{"id":"https://openalex.org/keywords/prospect-theory","display_name":"prospect theory","score":0.9739999771118164},{"id":"https://openalex.org/keywords/patient-centered-medical-home","display_name":"patient-centered medical home","score":0.9829999804496765},{"id":"https://openalex.org/keywords/wind-power-forecasting","display_name":"wind power forecasting","score":0.8270000219345093},{"id":"https://openalex.org/keywords/wind-speed","display_name":"wind speed","score":0.6359999775886536},{"id":"https://openalex.org/keywords/ito-s-formula","display_name":"It\u00f4 formula","score":0.8809999823570251},{"id":"https://openalex.org/keywords/healthcare-operations","display_name":"healthcare operations","score":0.6759999990463257},{"id":"https://openalex.org/keywords/renewable-energy","display_name":"renewable energy","score":0.7639999985694885}],"concepts":[{"id":"https://openalex.org/C2522767166","wikidata":"https://www.wikidata.org/wiki/Q2374463","display_name":"Data science","level":1,"score":0.4948264956474304},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.45318007469177246},{"id":"https://openalex.org/C42475967","wikidata":"https://www.wikidata.org/wiki/Q194292","display_name":"Operations research","level":1,"score":0.3694583773612976},{"id":"https://openalex.org/C539667460","wikidata":"https://www.wikidata.org/wiki/Q2414942","display_name":"Management science","level":1,"score":0.33693718910217285},{"id":"https://openalex.org/C201995342","wikidata":"https://www.wikidata.org/wiki/Q682496","display_name":"Systems engineering","level":1,"score":0.32520824670791626},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.2731779217720032}],"mesh":[],"locations_count":2,"locations":[{"id":"pmh:oai:deepblue.lib.umich.edu:2027.42/151533","doi":null,"is_oa":true,"landing_page_url":"https://hdl.handle.net/2027.42/151533","pdf_url":"https://hdl.handle.net/2027.42/151533","source":{"id":"https://openalex.org/S4306400393","display_name":"Deep Blue (University of Michigan)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I27837315","host_organization_name":"University of Michigan","host_organization_lineage":["https://openalex.org/I27837315"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Thesis"},{"id":"mag:3093538908","doi":null,"is_oa":false,"landing_page_url":"https://deepblue.lib.umich.edu/handle/2027.42/151533","pdf_url":null,"source":null,"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":null}],"best_oa_location":{"id":"pmh:oai:deepblue.lib.umich.edu:2027.42/151533","doi":null,"is_oa":true,"landing_page_url":"https://hdl.handle.net/2027.42/151533","pdf_url":"https://hdl.handle.net/2027.42/151533","source":{"id":"https://openalex.org/S4306400393","display_name":"Deep Blue (University of Michigan)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I27837315","host_organization_name":"University of Michigan","host_organization_lineage":["https://openalex.org/I27837315"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Thesis"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W3093538908.pdf","grobid_xml":"https://content.openalex.org/works/W3093538908.grobid-xml"},"referenced_works_count":66,"referenced_works":["https://openalex.org/W25190671","https://openalex.org/W323182655","https://openalex.org/W608509796","https://openalex.org/W1489605740","https://openalex.org/W1554944419","https://openalex.org/W1559535630","https://openalex.org/W1642251103","https://openalex.org/W1864372840","https://openalex.org/W1868135773","https://openalex.org/W1938091280","https://openalex.org/W1963724199","https://openalex.org/W1964706694","https://openalex.org/W1969738411","https://openalex.org/W1970071487","https://openalex.org/W1974080307","https://openalex.org/W1977403290","https://openalex.org/W1979654803","https://openalex.org/W1983972053","https://openalex.org/W1988052881","https://openalex.org/W1989411709","https://openalex.org/W1991857164","https://openalex.org/W1996008215","https://openalex.org/W2001871162","https://openalex.org/W2006558836","https://openalex.org/W2007551741","https://openalex.org/W2010030603","https://openalex.org/W2014522018","https://openalex.org/W2017468850","https://openalex.org/W2041946752","https://openalex.org/W2046522476","https://openalex.org/W2047584175","https://openalex.org/W2049772220","https://openalex.org/W2057389873","https://openalex.org/W2077791698","https://openalex.org/W2078724364","https://openalex.org/W2105119576","https://openalex.org/W2109762852","https://openalex.org/W2114001875","https://openalex.org/W2117014758","https://openalex.org/W2122952830","https://openalex.org/W2123619613","https://openalex.org/W2132188629","https://openalex.org/W2133393736","https://openalex.org/W2136045407","https://openalex.org/W2158436762","https://openalex.org/W2160095746","https://openalex.org/W2165364854","https://openalex.org/W2165799067","https://openalex.org/W2262787023","https://openalex.org/W2328028092","https://openalex.org/W2405451006","https://openalex.org/W2415893775","https://openalex.org/W2460685830","https://openalex.org/W2475613107","https://openalex.org/W2519560275","https://openalex.org/W2528540235","https://openalex.org/W2770018371","https://openalex.org/W2809112229","https://openalex.org/W2917560539","https://openalex.org/W2938185264","https://openalex.org/W2951818574","https://openalex.org/W3106428322","https://openalex.org/W3123638353","https://openalex.org/W3144165136","https://openalex.org/W3204306846","https://openalex.org/W4245879216"],"related_works":["https://openalex.org/W2178336158","https://openalex.org/W1499464437","https://openalex.org/W651451511","https://openalex.org/W7072483317","https://openalex.org/W7099123896","https://openalex.org/W7024124653","https://openalex.org/W7098531613","https://openalex.org/W7204331792","https://openalex.org/W6995202701","https://openalex.org/W2362054137"],"abstract_inverted_index":{"Real":[0],"options,":[1,5],"inherited":[2],"from":[3,232,259,401],"financial":[4],"are":[6,29,55,81,130,208,214,222,318,320,340,365],"a":[7,102,116,185,191,250],"useful":[8,399],"tool":[9],"to":[10,18,32,71,105,137,160,179,189,254,306,348,385,407],"manage":[11],"risks,":[12],"but":[13,84],"also":[14],"have":[15,68],"the":[16,25,173,195,244,256,275,280,292,302,329,359,392,402],"flexibility":[17,136],"adopt":[19],"various":[20,139,351],"risk":[21,140,352,378],"averse":[22,141,353],"attitudes.":[23],"In":[24,36,59,182,239,390],"literature,":[26],"real":[27,41,65,93,133,211,303,330,345,360,375,405],"options":[28,42,66,94,212,304,331,361,376,406],"mostly":[30],"applied":[31],"capital":[33,325],"budgeting":[34,326],"problems.":[35,327],"some":[37,398],"fields,":[38,61],"like":[39,62],"healthcare,":[40,334],"theory":[43,67,305,310],"is":[44,143,187,265,274,355,380],"not":[45,49,85,312,324,366],"widely":[46],"known,":[47],"and":[48,52,200,206,237,285,336,342],"many":[50],"empirical":[51],"quantitative":[53,103],"studies":[54],"based":[56],"on":[57,229],"this.":[58],"other":[60,225,297],"renewable":[63,337],"energy,":[64,338],"been":[69,313],"used":[70],"generate":[72],"traded":[73,367],"instruments":[74],"(like":[75],"weather":[76],"derivatives)":[77],"or":[78],"those":[79],"that":[80,153,162,221,278,291],"only":[82],"exercised":[83],"priced.":[86,215],"This":[87,299],"dissertation":[88,300,396],"includes":[89],"three":[90,233],"applications":[91,403],"of":[92,166,175,198,204,246,283,373,404],"arising":[95],"in":[96,115,362,377,394],"different":[97,387],"fields.":[98],"Chapter":[99,183,240,247],"2":[100],"presents":[101],"strategy":[104,156],"allocate":[106],"scarce":[107],"primary":[108,125],"care":[109,126],"physician":[110],"work":[111],"hours":[112],"into":[113],"teams":[114,129,161],"Patient-Centered":[117],"Medical":[118],"Home.":[119],"The":[120,135,149,169,202,216,262,270,344,370],"disruptions":[121],"caused":[122],"by":[123,132,145,382],"transferring":[124],"physicians":[127],"between":[128],"priced":[131],"options.":[134],"reflect":[138,350],"attitudes":[142,354],"achieved":[144],"applying":[146],"prospect":[147],"theory.":[148],"numerical":[150,288],"experiment":[151],"shows":[152],"our":[154,363],"allocation":[155],"creates":[157],"less":[158],"disruption":[159],"handle":[163],"large":[164],"numbers":[165],"sicker":[167],"patients.":[168],"model":[170,186,218,245,295],"can":[171],"enhance":[172],"quality":[174],"service":[176],"when":[177,227],"compared":[178,228],"existing":[180],"methodologies.":[181],"3,":[184],"developed":[188],"find":[190],"prediction":[192],"which":[193,213],"minimizes":[194,279],"weighted":[196,281],"cost":[197,282],"overestimation":[199,205],"underestimation.":[201,286],"costs":[203],"underestimation":[207],"expressed":[209],"as":[210],"proposed":[217,293],"makes":[219],"predictions":[220],"competitive":[223],"with":[224,249],"methods":[226],"datasets":[230],"drawn":[231],"areas:":[234],"manufacturing,":[235,335],"finance,":[236],"environment.":[238],"4,":[241],"we":[242,317],"integrate":[243],"3":[248],"wind-to-power":[251],"conversion":[252],"process":[253,264],"predict":[255],"power":[257,272],"output":[258,273],"wind":[260],"speed.":[261],"integration":[263],"realized":[266,381],"through":[267],"Ito's":[268],"Lemma.":[269],"predicted":[271],"optimal":[276],"value":[277],"over":[284],"Our":[287],"results":[289],"show":[290],"integrated":[294],"outperforms":[296],"benchmarks.":[298],"extends":[301],"problems":[307],"where":[308],"this":[309,395],"has":[311],"traditionally":[314],"applied.":[315],"First,":[316],"studying":[319],"day-to-day":[321],"operational":[322,408],"problems,":[323],"Second,":[328],"models":[332,364],"(in":[333],"etc.)":[339],"data-driven":[341],"empirical.":[343],"options'":[346],"ability":[347,384],"flexibly":[349],"quantitatively":[356],"demonstrated.":[357],"Third,":[358],"nor":[368],"exercised.":[369],"true":[371],"advantage":[372],"using":[374],"management":[379],"its":[383],"adapt":[386],"pricing":[388],"mechanisms.":[389],"conclusion,":[391],"exploration":[393],"reveals":[397],"insights":[400],"decisions.":[409]},"counts_by_year":[],"updated_date":"2026-11-07T11:25:07.637180","created_date":"2020-10-29T00:00:00"}
