An efficient method for calculating the minimum distance from an operating point to a specific (hyberbolic) efficient frontier

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dc.contributor.authorBischak, Dianeeng
dc.contributor.authorSilver, E.A.eng
dc.contributor.authorda Silveira, G.J.C.eng
dc.date.accessioned2012-07-13T16:54:39Z
dc.date.available2012-07-13T16:54:39Z
dc.date.issued2009
dc.descriptionThe is a pre-copy-editing, author-produced pdf of an article accepted for publication in IMA Journal of Management Mathematics following peer review. The definitive publisher-authenticated version: E.A. Silver, D.P. Bischak, and G.J.C. da Silveira, “An efficient method for calculating the minimum distance from an operating point to a specific (hyberbolic) efficient frontier,” IMA Journal of Management Mathematics 20:3 (2009), 251–261 is available online at doi:10.1093/imaman/dpn023. Deposited according to policy found on Sherpa/Romeo July 12, 2012.eng
dc.description.abstractThis paper is concerned with movement from a current operating point so as to reach a two-dimensional, efficient frontier. After a discussion of different criteria for deciding on which point on the frontier to target, we focus, as an illustration, on a particular inventory management context and use of the criterion of minimum distance from the current point to the frontier. Specifically, the efficient frontier turns out to be an hyperbola in a two-dimensional representation of total (across a population of items) average stock (in monetary units) versus total fixed costs of replenishments per year. Any current (or proposed) operating strategy, differing from the class along the frontier, is located above the frontier. Finding the minimum distance from the current point to the frontier requires determining the smallest root of a quartic equation within a restricted range.eng
dc.description.refereedYeseng
dc.identifier.citationE.A. Silver, D.P. Bischak, and G.J.C. da Silveira, “An efficient method for calculating the minimum distance from an operating point to a specific (hyberbolic) efficient frontier,” IMA Journal of Management Mathematics 20:3 (2009), 251–261.eng
dc.identifier.doihttp://dx.doi.org/10.11575/PRISM/33945
dc.identifier.issn1471-678X
dc.identifier.urihttp://hdl.handle.net/1880/49106
dc.language.isoengeng
dc.publisherOxford University Presseng
dc.publisher.corporateUniversity of Calgaryeng
dc.publisher.facultyHaskayne School of Businesseng
dc.publisher.hasversionPost-print
dc.publisher.urlhttp://imaman.oxfordjournals.org/eng
dc.subjectefficient frontierseng
dc.subjectexchange curveseng
dc.subject.othereconomic order quantityeng
dc.subject.otherminimum distanceeng
dc.subject.otherhyperbolaeng
dc.titleAn efficient method for calculating the minimum distance from an operating point to a specific (hyberbolic) efficient frontiereng
dc.typejournal articleeng
thesis.degree.disciplineOperations Managementeng
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