Incorporating risk seeking attitude into defense strategy

Ferenc Szidarovszky and Yi Luo

Reliability Engineering and System Safety, 2014, vol. 123, issue C, 104-109

Abstract: Optimal resource allocation is first found in defending possible targets against random terrorist attacks subject to budget constraint. The mathematical model is a nonconvex optimization problem which can be transformed into a convex problem by introducing new decision variables, so standard methods can be used for its solution. Without budget constraint the simplified model can be solved by a very simple algorithm which requires the solution of a single variable monotone equation.

Keywords: Nonconvex optimization; Certainty equivalent; Homeland security (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:reensy:v:123:y:2014:i:c:p:104-109

DOI: 10.1016/j.ress.2013.11.002

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