• Management Science and Financial Engineering
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• v.21 no.1
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• pp.11-17
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• 2015

Min-max stochastic optimization is an approach to address the distribution ambiguity of the underlying random variable. We present a unified approach to the problem which utilizes the theory of convex order on the random variables. First, we consider a general framework for the problem and give a condition under which the convex order can be utilized to transform the min-max optimization problem into a simple minimization problem. Then extremal distributions are presented for some interesting classes of distributions. Finally, applications to the single-period inventory control problems are given.

• Transactions of the Korean Society of Mechanical Engineers A
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• v.24 no.3 s.174
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• pp.661-666
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• 2000

Optimization of the elastic joint of train is performed according to the minimization of ten responses which represent driving safety and ride comfort of train and analyzed by using the each response se surface model from stochastic design of experiments. After the each response surface model is constructed, the main effect and sensitivity analyses are successfully performed by 2nd order approximated regression model as described in this paper. We can get the optimal solutions using by nonlinear programming method such as simplex or interval optimization algorithms. The response surface models and the optimization algorithms are used together to obtain the optimal design of the elastic joint of train. the ten 2nd order polynomial response surface models of the three translational stiffness of the elastic joint (design factors) are constructed by using CCD(Central Composite Design) and the multi-objective optimization is also performed by applying min-max and distance minimization techniques of relative target deviation.