2016 INFORMS Annual Meeting Program

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INFORMS Nashville – 2016
381
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Music Row 1- Omni
New Product Development and Process Development
in Healthcare
Sponsored: Technology, Innovation Management &
Entrepreneurship
Sponsored Session
Chair: Zhili Tian, Florida International University, 11200 SW 8th St,
Miami, FL, 33199, United States,
1 - An Empirical Analysis Of The Barriers To And Optimal Use Of
Clinical Decision Support Systems In Health Care
Xiaojin Liu, University of Minnesota, Minneapolis, MN, United
States, Susan Goldstein, Karen Soderberg,
Kingshuk K Sinha
Clinical Decision Support (CDS) systems provide critical clinical information for
health care processes, and development of capabilities related to their use enable
provide knowledge related to both the current workflow and for process
improvement. Yet, little is known about the barriers and outcomes of the
development of these capabilities. We empirically investigate the barriers to CDS
use and the consequences of using CDS features, controlling for organizational
characteristics in the clinical setting.
2 - Management Of Cancer Drug Shortage Under Demand And
Supply Uncertainty
Shanling Li, McGill University, Dali Zhang,
Xiaowen Chang, Huifu Xu
In this research, we aim at developing an optimization model that characterizes
the supply chain disruption of a generic cancer drug resulted from operational
problems. We consider the trade-off between generic and brand name drugs and
uncertainties in demand and supply. The cancer drug shortage problem is
formulated as a chance-constrained model. Our aim is to investigate the severe
impact of short supply of the generic cancer drug on supply chain decisions and to
propose optimal purchasing plans to mitigate the drug shortage risk.
3 - Outsourcing Stategy For Intermediate Production Steps
Yang Wang, UC Berkeley, 4174 Etcheverry Hall, University of
California Berkeley, Berkeley, CA, 94720, United States,
, Philip Kaminsky
Small biopharmaceutical firms often outsource their final filling and labeling
operations to a third party, but these firms use a variety of different outsourcing
strategies. In particular, we consider two types of strategies. In the first, the firm
orders when inventory position is low, so that its order is triggered by inventory
level. In the second, the firm reserves a limited amount of capacity at the
outsourcer at repeated fixed intervals, so that its order is triggered by time. These
strategies impact inventory management at the biopharma firm, as well as
capacity utilization at the outsourcer, and we develop models to explore the
trade-off between these two types of strategies.
4 - Clinical Trials And New Drug Development: Optimal Investment
Policies And Application
Zhili Tian, Florida International University, 11200 S.W. 8th Street,
Miami, FL, 33199, United States,
Firms conduct Phase 3 trials by enrolling and treating patients who meet certain
conditions. Opening test centers and finding patients to participate in trials are
expensive and time consuming, with a great deal of uncertainty around these. We
develop a dynamic recruitment policy for clinical trials, which depends on the
available information on drug quality, potential market size, and likelihood of
FDA approval. It also takes into account the costs of the clinical testing and the
current success in enrolling patients. We consider cases with and without interim
analysis of the clinical data. We develop structural results and provide conditions
for accelerating or suspending a clinical study.
WA54
Music Row 2- Omni
Agent-based Modeling in Management Sciences
and Economics
Sponsored: Service Science
Sponsored Session
Chair: Wei Zhang, Tianjin University, Tianjin, China,
Co-Chair: Shu-Heng Chen, National Chengchi University, 64,
Chih-nan Rd.,Sec. 2, Wenshan, Taipei 11623, Taipei, 11623, China,
Co-Chair: Silvano Cincotti, University of Genoa, via Opera Pia, 15 -
16145 Genova, ITALY, Genova, 16145, Italy,
1 - Agent-based Modeling Of Chinese University Admission
Mechanisms: From The Boston Mechanism To The Chinese
Parallel Mechanism, Mission Accomplished?
Shu-Heng Chen, National Chengchi University,
Between 1952 and 2003, all provinces in China used the algorithms equivalent to
the Boston mechanism to admit college students. However, after a prolonged
period of experimentation, the Boston mechanism has been criticized for its
invoking “justified envy.” In response, since 2003, some Chinese provinces have
gradually promulgated a new system called the Chinese parallel mechanism,
aiming to allocate students based more on their abilities than on their choices in
order to answer the criticism of justified envy. Has this policy reform
accomplished its mission? In this article, we use the agent-based model to
evaluate the admission policy reform in Chinese higher education.
2 - An Empirical Zero-intelligence Model Of Chinese Stocks
Wei-Xing Zhou, East China University of Science and Technology,
130 Meilong Road, Shanghai, 200237, China,
, Gao-Feng Gu, Xiong Xiong, Wei Zhang,
Yong-Jie Zhang, Wei Chen
Computational experimental finance is an important topic in finance. Order-
driven models constructed based on the statistical properties of order flows are
able to reproduce the main stylized facts of financial variables. In this talk, we will
introduce a microscopic model based on the order flows of Chinese stocks. We
will also discuss the potential applications of order-driven models in stock market
micro structures and financial engineering. For instance, we study the optimal
trading strategy problem of large orders and the impact of asymmetric price limits
on stock price evolution.
3 - Nonlinear Transient Shock, Implementation Shortfall Optimum
Strategy And Market Influences: Based On The Framework Of
Computational Finance
Haifei Liu, Nanjing University, Nanjing, China,
Xindan Li, Xiong Xiong
This paper builds an artificial stock market to simulate the real market, and make
sure that the artificial market has the same statistical features with the real
market. The mechanism of information sharing will also play an important role in
the artificial market. Then the paper proposes a nonlinear quadratic IS
(Implementation Shortfall) algorithm. We will analysis the impact on market
when perform the algorithm and the different effects when compared with linear
IS and Minimum Risk Volume Weighted Average Price. To conduct robust test,
this paper also analysis the performance of the above algorithms under the
different levels of private information in the market.
4 - Biased Information, Peer Pressure And Expectation Formation
Dehua Shen, Tianjin University, Tianjin, China, ,
Yongjie Zhang, Andrea Teglio, Wei Zhang
Behavior economics has relaxed the assumption on perfect rationality and
recognized the impact of psychological biases on the expectation formation.
However, existing literature mainly postulates the unbiased information
generated by information sources. In that sense, the information reporting
behavior is hugely simplified. In this paper, we address this issue by simulating an
agent-based computational model with the consideration of the diffusion of
biased information and investigate its influence on expectation formation.
Meanwhile, the peer pressure mechanism is introduced to depict the social
learning behavior among investors.
WA55
Music Row 3- Omni
Inventory Management VII
Contributed Session
Chair: Sepideh Alavi, University of Wisconsin Milwaukee,
1559 N Prospect Ave. Apt 309, Milwaukee, WI, 53202, United States,
1 - Inventory Replenishment Decision Support
Matthew D. Dean, University of Southern Maine, Portland, ME,
Contact:
We describe an MBA-led project to help a local glass and metal fabricator
improve its inventory replenishment system. Historically, it relied on a manual
inventory system controlled by a single person with many years of experience.
The MBA team developed a spreadsheet-based linear programming model to rec-
ommend purchasing decisions. This tool was then migrated to a user-friendly
web-based application.
WA55