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Decisions under uncertainty
Mathematical models describe a real-life phenomenon, using mathematical language. The model will not exactly be like the reality, but can be used to learn from and help us make decisions.
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Traffic congestion: Tolls••
December 29 2016, by Cristóbal Guzmán and Pieter KleerOne way to mitigate the consequences of drivers' selfish behavior, is by introducing tolls (or taxes) on certain parts of the road network. This is also known as road pricing.Read article - Article
Layered networks I: From manufacturing plants to queueing networks••
November 15 2016, by Jan-Pieter DorsmanManufacturing plants convert raw material into a final product. Think of cars, where the production line consists of a large number of phases to put all the different parts together into a working car. Big machines in such a plant perform the processing steps in different phases, which often have to be done in a specific order.Read article - Article
Traffic congestion: Pigou's example•••
January 11 2016, by Cristóbal Guzmán and Pieter KleerIn network congestion models, we make some simplifying assumptions that make our life easier. In a large-scale system, each individual driver contributes a tiny amount to congestion, if we assume that every car controls the same amount of traffic.Read article