One of the
hallmarks of a
research university is the production of the next generation of
scholars.
As Director of the Virtual Center for Supernetworks, I am proud of the
students who have worked as Center Associates and whose dissertations I
have had the privilege to supervise. The abstracts of their
dissertations
are below. - Anna Nagurney, John F. Smith Memorial Professor
Funding for these
dissertations
has been provided by the National Science Foundation, the AT&T
Foundation,
the John F. Smith Memorial Fund at the University of Massachusetts, and
the Isenberg School of Management at the University of Massachusetts at
Amherst. The students gratefully acknowledge this support and thank all
those both within and outside the University of Massachusetts,
who
assisted them in the completion of their dissertations, both
professionally
and personally.
Transportation and
Dynamic Networks: Models, Theory, and Applications to Supply Chains,
Electric Power, and Financial Networks
Zugang Liu, Ph.D., May 2008
Anna Nagurney, Chair
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Abstract: Network systems, including transportation
and logistic systems, the Internet, electric power generation and
distribution networks as well as financial networks, provide the
critical infrastructure for the functioning of our societies and
economies. The understanding of the dynamic behavior of such systems is
also crucial to national security and prosperity. The identification of
new connections between distinct network systems is the inspiration for
the research in this dissertation. In particular, I answer two
questions raised by Beckmann, McGuire, and Winsten (1956) and Copeland
(1952) over half a century ago, which are, respectively, how are
electric power flows related to transportation flows and does money
flow like water or electricity? In addition, in this dissertation, I
achieve the following:
1. I establish the relationships between transportation networks and
three other classes of complex network systems: supply chain networks,
electric power generation and distribution networks, and financial
networks with intermediation. The establishment of such connections
provides novel theoretical insights as well as new pricing mechanisms,
and efficient computational methods.
2. I develop new modeling frameworks based on evolutionary variational
inequality theory that capture the dynamics of such network systems in
terms of the time-varying flows and incurred costs, prices, and, where
applicable, profits. This dissertation studies the dynamics of such
network systems by addressing both internal competition and/or
cooperation, and external changes, such as varying costs and demands.
3. I focus, in-depth, on electric power supply chains. Electric power
supply chains are some of the most dynamic network systems due to the
fluctuations in demand for electricity and the associated
generation/transmission costs (http://www.eia.doe.gov/). Furthermore
electricity transmission systems, similar to urban transportation
networks, have been increasingly characterized by congestion problems
due to heavy loads (cf. Singh et al. (1998) and Chao et al. (2000)).
Hence, the understanding of dynamic electric power supply chains with
fluctuating costs and demands is of great interest to a variety of
decision-makers as well as to consumers (see, e.g., Ruff (2002),
Borenstein (2005)). Moreover, the undergoing deregulation process has
caused profound changes in the electric power industry, which requires
a thorough identification of the structure of the emerging electric
power supply chains (cf. Nagurney (2006), Matsypura, Nagurney, and Liu
(2007), and Nagurney, Liu, Cojocaru, and Daniele (2007)).
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An
Integrated Electric Power Supply Chain and Fuel Market Network
Framework: Theoretical Modeling with Empirical Analysis for New England
Zugang Liu and Anna Nagurney
Dynamic
Electric Power Supply Chains and Transportation Networks: An
Evolutionary Variational Inequality Formulation Anna Nagurney,
Zugang Liu, Monica-Gabriela Cojocaru, and Patrizia Daniele, Transportation Research E 43:
(2007) pp 624-646.
Financial
Networks with Intermediation and Transportation Network Equilibria: A
Supernetwork Equivalence and Reinterpretation of the Equilibrium
Conditions with Computations Zugang Liu and Anna Nagurney, Computational Management Science 4:
(2007) pp 243-281.
Sustainable
Supply Chain and Transportation Networks Anna Nagurney, Zugang Liu,
and Trisha Woolley, International
Journal of Sustainable Transportation 1: (2007) pp 29-51.
Modeling
of Electric Power Supply Chain Networks with Fuel Suppliers via
Variational Inequalities Dmytro Matsypura, Anna Nagurney, and
Zugang Liu, International
Journal of Emerging Electric Power Systems Vol. 8: Iss. 1:
(2007) Article 5. Link to online
article.
An
Evolutionary Variational Inequality Formulation of Supply Chain
Networks with Time-Varying Demands Anna Nagurney and Zugang Liu, in
Network Science,
Nonlinear Science and Dynamic Game Theory Applied to the Study of
Infrastructure Systems, T. L. Friesz, Editor, Springer,
Berlin, Germany (2007) pp 267-302.
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A Dynamic Theory for
the Integration of Social and Economic Networks
with Applications to Supply Chain and Financial Networks
Tina Wakolbinger, Ph.D., May 2007
Anna Nagurney, Chair
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Abstract: Uzzi (1996, p. 674) highlighted that there
is a "growing need to understand how
social structure assists or impedes economic performance." In
this dissertation, I contribute to this understanding by constructing
dynamic supernetwork models that explicitly integrate social
networks with economic network models and that rigorously capture the
role that relationship levels play.
The research in this dissertation is motivated by the growing
literature that empirically and theoretically highlights the importance
of relationships in supply chains (cf. Cannon and Perreault (1999),
Bernardes and Fensterseifer (2004), and Baker and Faulkner (2004)) and
financial transactions (cf. Berger and Udell (1995), Anthony (1997),
and Uzzi (1999)). As this literature shows, the existence of
appropriate social networks can affect not only the risk associated
with the transactions but also transaction costs.
By explicitly including the role that relationships play in economic
transactions, I extend the previous research on supply chain network
models (see, for example, Nagurney, Dong, and Zhang (2002), Nagurney,
Cruz, and Matsypura (2003), and Nagurney and Matsypura (2005)).
Furthermore, I extend the literature on financial network models
(see, for example, Nagurney and Ke (2001, 2003) and Nagurney and Cruz
(2003a,b, 2004)).
Specifically, I first develop a model consisting of an integrated
supply chain and social network. I then construct a model consisting of
an integrated financial and social network. Finally, I extend both
these models to an international setting. The social networks consist
of relationships of different strength as they have been described in
the papers by Granovetter (1973), Freeman, Borgatti, and White (1991),
and Golicic, Foggin, and Mentzer (2003).
The supernetwork models
describe how the behavior of the multicriteria decision-makers
and induced flows influence the co-evolution of social and economic
networks. Numerical examples highlight the unique ability of this
framework to analyze the interaction between the social network and the
economic network. The models are based on variational inequality theory
for the study of the equilibrium states (cf. Nagurney (1999)) and
projected dynamical systems theory for the study of the associated
dynamics (cf. Nagurney and Zhang (1996a)) |
Dynamic
Supernetworks for the Integration
of Social Networks and Supply Chains with Electronic Commerce: Modeling
and Analysis of Buyer-Seller Relationships with Computations
Tina Wakolbinger and Anna Nagurney, Netnomics 6: (2004) pp 153-185.
Supernetworks:
An Introduction
to the Concept and its Applications with a Specific Focus on Knowledge
Supernetworks Anna Nagurney and Tina Wakolbinger, International Journal of
Knowledge,
Culture and Change Management 4: (2004) pp 1523-1530.
On a
Paradox of Traffic Planning, translated from the (1968) original D.
Braess paper from German to English by D. Braess, A. Nagurney, and T.
Wakolbinger , Transportation
Science 39: (2005) pp 446-450.
Financial
Engineering of the
Integration of Global Supply Chain Networks and Social Networks with
Risk Management Jose M.
Cruz, Anna Nagurney, and Tina
Wakolbinger, Naval
Research Logistics 53: (2006), pp 674-696.
The
Co-Evolution and Emergence
of Integrated International Financial Networks and Social
Networks: Theory,
Analysis, and Computations Anna Nagurney, Jose M. Cruz,
and
Tina Wakolbinger (Invited chapter
for Globalization and Regional
Economic Modeling, edited by R. Cooper, K. P. Donaghy, G.
J. D. Hewings, Springer.)
The
Evolution and Emergence of
Integrated Social and Financial Networks with Electronic Transactions:
A Dynamic Supernetwork Theory for the Modeling, Analysis, and
Computation of Financial Flows and Relationship Levels Anna
Nagurney, Tina Wakolbinger, and Li Zhao , Computational Economics 27: (2006) pp 353-393.
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Dynamics of Global
Supply Chain and Electric Power Networks:
Models, Pricing Analysis, and Computations
Dmytro Matsypura, Ph.D., September 2006
Anna Nagurney, Chair
|
Abstract: The
electric power industry in the United States and in other countries is
undergoing profound regulatory and operational changes. The underlying
rationale behind these transformations is to move once highly
monopolized vertically-integrated industry from a centralized operation
approach to a competitive one. The deregulation process in the US has
had a dramatic effect on the US power market. It has led, in
particular, to a significant increase in the number of market
participants and changes to electricity trading patterns, making system
reliability more difficult to maintain. The vulnerability of the system
was clearly illustrated on August 14, 2003 with the occurrence of the
largest blackout in the history of the US. As an indicator of the US
electric power system's fragility and unreliability, the event made
imperative a dialogue on how the electric power industry could be
improved. This dissertation joins this current dialogue.
In this dissertation, I develop a new theoretical framework for the
modeling, pricing analysis, and computation of solutions to electric
power supply chains with power generators, suppliers, transmission
service providers, and the inclusion of consumer demands. In
particular, I advocate the application of finite-dimensional
variational inequality theory, projected dynamical systems theory, game
theory, network theory, and other tools that are have been recently
proposed for the modeling and analysis of supply chain networks (cf.
Nagurney (2006)) to electric power markets.
This dissertation contributes to the extant literature on the modeling,
analysis, and solution of supply chain networks, including global
supply chains, in general, and electric power supply chains, in
particular, in the following ways. It develops a theoretical framework
for modeling, pricing analysis, and computation of electric power
flows/transactions in electric power systems using the rationale for
supply chain analysis. The models developed include both static and
dynamic ones. The dissertation also adds a new dimension to the
methodology of the theory of projected dynamical systems by proving
that, irrespective of the speeds of adjustment, the equilibrium of the
system remains the same. Finally, I include alternative fuel (renewable
and nonrenewable) suppliers, along with their behavior into the supply
chain modeling and analysis framework.
This dissertation has strong practical implications. In an era in which
technology and globalization, coupled with increasing risk and
uncertainty, complicate electricity demand and supply within and
between nations, the successful management of electric power systems
and pricing become increasingly pressing topics with relevance not only
for economic prosperity but also national security. This dissertation
addresses such related topics by providing models, pricing tools, and
algorithms for decentralized electric power supply chains. This
dissertation is based heavily on the following co-authored papers:
Nagurney, Cruz, and Matsypura (2003), Nagurney and Matsypura (2004,
2005, 2006), Matsypura and Nagurney (2005), Matsypura, Nagurney, and
Liu (2006).
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A Supply Chain Network
Perspective for
Electric Power Generation, Supply,
Transmission, and Consumption Anna Nagurney and
Dmytro
Matsypura (To
appear in Advances in Computational
Economics,
Finance and Management Science,
E. Kontogiorghes and C. Gatu, Editors, Springer (2006); appears in
condensed form in the Proceedings of the
International
Conference on Computing, Communications and Control Technologies,
Austin,
Texas, Volume VI: (2004) pp 127-134.)
Global
Supply Chain Network Dynamics with Multicriteria Decision-Making Under
Risk and
Uncertainty
Anna Nagurney and Dmytro Matsypura, Transportation
Research E 41: (2005) pp 585-612.
Dynamics
of Global Supply Chain Supernetworks Anna Nagurney, Jose
Cruz,
and
Dmytro Matsypura , Mathematical and Computer Modelling 37:
(2003) pp 963-983.
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UNIFIED COMPLEX NETWORK FRAMEWORK
FOR ENVIRONMENTAL
DECISION-MAKING WITH APPLICATIONS TO
GREEN LOGISTICS AND
ELECTRONIC WASTE RECYCLING
Fuminori
Toyasaki, Ph.D., September 2005
Anna
Nagurney, Chair
|
Abstract:
In this dissertation, I developed a unified complex network framework
for environmental decision-making. I focused on complex network systems
arising in the context of green logistics, including global supply
chains, and electronic waste recycling. The framework that I developed
is able to handle many decision-makers at the tiers of the networks,
and enables the prediction of the flows of the materials between tiers
as well as the prices at the tiers, along with the emissions generated,
and the incurred costs and profits.
I first developed a theoretical framework for supply chain networks
with environmental concerns in the context of decision-making in the
Information Age today. I allowed different decision-makers to weight
the criteria (including the environmental ones) in distinct fashion.
Subsequently, I generalized the original model to a global supply chain
network model which included environmental criteria, electronic
commerce, and risk management.
I then developed an integrated reverse supply chain management
framework that allows for the modeling, analysis, and computation of
the material flows as well as the prices associated with the different
tiers in the multitiered electronic recycling network. I also extended
this model in order to deal with the environmental risk caused by
hazardous material generated from the recycling processes. I assumed
that the environmental risk due to hazardous material depends on the
amount of residual hazardous material that is not extracted from
electronic wastes by the processor as well as on the storage amount of
hazardous waste that is not disposed yet by the hazardous material
disposer.
The models and computational methods were based on the methodologies of
variational inequality theory for the study of the statics (cf.
Nagurney (1999)) and projected dynamical systems for the dynamics (cf.
Nagurney and Zhang (1996)).
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Electronic
Waste Management and Recycling: A Multitiered Network Equilibrium
Framework
for E-Cycling Anna Nagurney and Fuminori Toyasaki (Appears
in revised form and under new title, "Reverse Supply Chain
Management
and Electronic Waste Recycling: A Multitiered Network
Equilibrium
Framework for E-Cycling," in Transportation Research E:
Transportation
and Logistics (2005).)
Supply
Chain Supernetworks and Environmental Criteria
Anna Nagurney and
Fuminori Toyasaki, Transportation Research D 8:
(2003) pp 185 - 213.
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STATICS AND
DYNAMICS OF COMPLEX
NETWORK SYSTEMS: SUPPLY CHAIN ANALYSIS AND FINANCIAL NETWORKS WITH
INTERMEDIATION
Ke Ke, Ph.D., September 2004
Anna Nagurney, Chair
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Abstract: In
this dissertation,
I considered various novel extensions of network equilibrium problems
both
in static and in dynamic settings from modeling, qualitative analysis,
and computational perspectives. For each problem, I identified the
network
structure, described the behavior of the network agents involved,
presented
the formulations, derived the equilibrium conditions, established the
qualitative
properties, and proposed the appropriate algorithm for computations. A
variety of numerical examples were provided for illustration of the
models
presented. First, I proposed a multilevel network perspective for the
conceptualization
of the dynamics underlying supply chains in the presence of
competition.
Rather than being formulated over a single network, as was done by
Nagurney,
Dong, and Zhang (2002) and Nagurney et al (2002), who proposed static
models
of supply chain networks under competition, the multilevel network
consisted
of: the logistical network, the informational network, and the
financial
network. The network agents, in turn, consisted of the manufacturers,
the
retailers, and the consumers located at the demand markets. Next, I
studied
financial network equilibrium problems with intermediation in a static
setting and described the disequilibrium dynamics as well. I
considered
an economy consisting of three types of agents: those with sources of
funds,
intermediaries, and the consumers located at demand markets
corresponding
to the uses of funds. Subsequently, I generalized the modeling
framework
to incorporate the impact of electronic transactions on the financial
networks
with intermediation. The modeling framework captured both competition
and
cooperation, and included transaction costs which brought a greater
degree
of realism to the study of financial intermediation. In order to
capture
the influence of the decision-makers' risk attitudes upon the financial
network equilibrium, I further developed a value function approach in
which
the risk for each decision-maker was penalized by a variable weight.
The
models and computational methods were based on the methodologies of
variational
inequality theory for the study of the statics (cf. Nagurney (1999))
and
projected dynamical systems for the dynamics (cf. Nagurney and Zhang
(1996)).
I concluded this dissertation with a summary of the modeling framework
developed and provided suggestions for possible future extensions.
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Financial
Networks with Intermediation: Risk Management with Variable Weights
Anna Nagurney and
Ke Ke, European Journal
of Operational Research.
Financial
Networks with Electronic Transactions: Modeling, Analysis, and
Computations
Anna Nagurney and
Ke Ke , Quantitative Finance 3: (2003) pp 71-87.
Dynamics
of Supply Chains: A Multilevel (Logistical/Informational/Financial)
Network
Perspective
Anna Nagurney, Ke
Ke, Jose Cruz,
Kitty Hancock, and Frank Southworth, Environment and Planning
B 29: (2002) pp 795-818.
Dynamics
of Financial Networks with Intermediation Anna Nagurney and
Ke Ke |
INTERNATIONAL
FINANCIAL NETWORKS
AND GLOBAL SUPPLY CHAINS:
A UNIFIED FRAMEWORK
FOR DECISION-MAKING,
OPTIMIZATION, AND
RISK MANAGEMENT
Jose M. Cruz, Ph.D., May 2004
Anna Nagurney, Chair
|
Abstract: In
this dissertation,
I developed a unified framework for the modeling, analysis, and
computation
of solutions to both international financial problems with
intermediation
as well as to global supply chains through the medium of networks. The
framework that I developed can handle as many decision-makers within
each
country as needed (be they sources of funds, financial intermediaries,
or, as in the case of global supply chains: manufacturers, retailers,
and/or
distributors, as well as consumers), and enables the prediction of the
flows (financial and product) between tiers of the networks as well as
the prices at the tiers. In addition, I considered not only physical
transactions
between decision-makers but also virtual ones in the form of electronic
transactions. I utilized tools from both management science and finance
to identify the commonality in the structures of international
financial
networks and global supply chains. I modeled the behavior of the
various
decision-makers, which allows for multiple criteria such as profit
maximization
as well as risk minimization, and study the dynamics of the various
interactions.
The analysis was both qualitative in nature as well as computational.
The
effectiveness of the proposed methodologies was demonstrated through
numerous
examples. The research in this dissertation was motivated not only by
the
practical importance of the topic but also by the need to develop
rigorous
theoretical frameworks for complex decision-making on networks with an
international focus. To-date, there have been many innovative models
developed
for multi-tiered networks. For example, Nagurney and Ke (2001,
2003)
focused on financial multitiered networks with intermediation (with and
without electronic transactions). Moreover, Nagurney, Dong, and Zhang
(2002),
Nagurney, Loo, Dong, and Zhang (2002), and Nagurney, Ke, Cruz, Hancock,
and Southworth (2002) developed models for multitiered supply chains.
All
the above research has been centered on a single country. In this
thesis, I captured such decision-making but in a multiple country,
multiple
currency context with enhanced risk management.
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Supply
Chain Networks, Electronic Commerce, and Supply Side and Demand Side
Risk Anna
Nagurney, Jose
Cruz, June
Dong, and Ding Zhang , European Journal
of Operational Research.
Statics
and Dynamics of Global Supply Chain Networks with Environmental
Decision-Making
Anna Nagurney, Jose
Cruz, and
Fuminori Toyasaki (Prepared for the 9th Workshop on Economics and
Heterogeneous
Interacting Agents, Kyoto University, Kyoto, Japan, May 27-29, 2004.)
Global
Supply Chain Networks and Risk Management Anna Nagurney, Jose
Cruz, and
June Dong
Dynamics
of International Financial Networks with Risk Management
Anna Nagurney and
Jose Cruz , Quantitative Finance 4: (2004) pp 276-291.
International
Financial Networks with Electronic Transactions
Anna Nagurney and
Jose Cruz, Innovations in Financial and Economic Networks,
Anna Nagurney, editor, Edward Elgar Publishing, 2003, pp 136-168.
International
Financial Networks with Intermediation: Modeling, Analysis, and
Computations Anna Nagurney and
Jose Cruz, Computational Management Science 1: (2003)
pp
31-58.
Dynamics
of Global Supply Chain Supernetworks Anna Nagurney, Jose
Cruz, and
Dmytro Matsypura, Mathematical and Computer Modelling 37:
(2003) pp 963-983.
Dynamics
of Supply Chains: A Multilevel (Logistical/Informational/Financial)
Network
Perspective
Anna Nagurney, Ke
Ke, Jose Cruz,
Kitty Hancock, and Frank Southworth, Environment and Planning
B 29: (2002) pp 795-818. |
Last update: May 26,
2008
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