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Professor Paul Schonfeld (CEE) is the principal investigator and Associate Professor Ilya Ryzhov (BMGT/ISR) is the co-PI for a new one-year, $150K NSF EAGER grant, “Optimization with Data Acquisition in Transportation Engineering.”
The work looks to determine the amount of data that should be purchased for statistically estimating the coefficients of optimization models. The researchers will examine the tradeoffs between the cost of data used for calibrating optimization models and the quality of solutions obtained with those models. Such tradeoffs will be explored mainly for problems relevant in transportation, such as vehicle assignment to tasks, vehicle routing, fleet sizing, and network flow models. The results should help transportation agencies and companies across the world allocate resources and improve their professional practice. Beyond transportation problems, this work may yield methods that would be valuable in other applications, industries and disciplines, including engineering, operations research, economics and management.
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