Static and Dynamic Resource Allocation Models for Recovery of Interdependent Systems: Application to the Deepwater Horizon Oil Spill
MacKenzie, Cameron A.
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Determining where and when to invest resources during and after a disruption can challenge policy makers and homeland security officials. Two decision models, one static and one dynamic, are proposed to determine the optimal resource allocation to facilitate the recovery of impacted industries after a disruption where the objective is to minimize the production losses due to the disruption. This paper presents conditions for optimality for each model as a function of model parameters as well as an algorithm to solve for the optimal conditions in both models. Both models are applied to the Deepwater Horizon oil spill, which adversely impacted several industries in the Gulf region, such as fishing, tourism, real estate, and oil and gas. Results demonstrate the importance of allocating enough resources to stop the oil spill and clean up the oil, which reduces the economic loss across all industries. These models can be applied to different homeland security and disaster response situations to help governments and organizations decide among different resource allocation strategies during and after a disruption.
Annals of Operations Research. In press. Author's accepted manuscript||The article of record may be found at http://dx.doi.org/10.1007/s10479-014-1696-1
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