MathsNet: Research Student Directory

Name Lowbridge, Thomas Oliver
Group Statistics and Probability
Room C18, Maths
Telephone +44 (0) 115 [direct dial]
Thesis Title Dynamic Resource Allocation and Stochastic Optimal Control
Thesis Abstract We look Yield/Revenue management policies and how we can use Stochastic Dynamic Programming to find optimal polices to follow to maximise yield/profit. This could include policies where we decide if we accept a customer or it could involve dynamic pricing, where there are classes of individuals and/or products. Even if possible to solve to optimality this is very often computationally expensive, near optimal solutions will be sort after using less computationally demanding methods, these will involve developing approximate dynamic programming(ADP) methods. These dynamic programs can be applied to airline ticketing structure to help decide what price to sell a product (ticket) for; or when we should not take booking for a certain type of seat (e.g. economy). It could also involve the use of index policies, where resources are shared among multiple concurrent projects and decisions must be made on their allocation, this has applications to queuing theory were we need to decide where to assign our resource(server) to a project (line of customers).
School contact information School of Mathematical Sciences
University of Nottingham
University Park
Nottingham, NG7 2RD
Tel: +44 (0) 115 951 4949
Fax: +44 (0) 115 951 4951