**Are you an EPFL student looking for a semester project?**

Work with us on data science and visualisation projects, and deploy your project as an app on top of GraphSearch.

Person# Thomas Alois Weber

Official source

This page is automatically generated and may contain information that is not correct, complete, up-to-date, or relevant to your search query. The same applies to every other page on this website. Please make sure to verify the information with EPFL's official sources.

Related units

Loading

Courses taught by this person

Loading

Related research domains

Loading

Related publications

Loading

People doing similar research

Loading

Related research domains (52)

Sharing

Sharing is the joint use of a resource or space. It is also the process of dividing and distributing. In its narrow sense, it refers to joint or alternating use of inherently finite goods, such a

Sharing economy

The sharing economy is a socio-economic system whereby consumers share in the creation, production, distribution, trade and consumption of goods, and services. These systems take a variety of forms,

Stock market

A stock market, equity market, or share market is the aggregation of buyers and sellers of stocks (also called shares), which represent ownership claims on businesses; these may include securities

Related publications (116)

Loading

Loading

Loading

Courses taught by this person (5)

People doing similar research (94)

MGT-528: Operations: economics & strategy

Supply-chain management within a firm is concerned with the flow of goods and services from firms to consumers. This course provides an overview of the economic drivers and technological possibilities for designing a successful supply-chain strategy, especially in view of information flows.

MGT-555: Innovation & entrepreneurship in engineering

This course is a joint initiative between the School of Engineering and the College of Management to encourage and promote entrepreneurship and management skills, engineering design, hands-on experience, teamwork, and awareness of social and ethical implications in engineering and management.

MGT-621: Microeconomics

This course presents a first introduction to microeconomic theory and its applications. It lays the foundation for more advanced courses.

Related units (8)

This paper considers the problem of second-degree price discrimination when the type distribution is unknown or imperfectly specified by means of an ambiguity set. As robustness measure we use a performance index, equivalent to relative regret, which quantifies the worst-case attainment ratio between actual payoff and ex-post optimal payoff. We provide a simple representation of this performance index, as the lower envelope of two boundary performance ratios, relative to beliefs that lie at the boundary of the ambiguity set. A characterization of the solution to the underlying robust identification problem is given, which leads to a robust product portfolio, for which we also determine the worst-case performance over all possible consumer types. For a standard linear quadratic specification of the robust screening model, a worst-case performance index of 75% guarantees that the robust product portfolio exhibits a profitability that lies within a 25%-band of an ex-post optimal product portfolio, over all possible model parameters and beliefs. Finally, a numerical comparison benchmarks the robust solution against a number of alternative belief heuristics.

2023This paper examines the minimization of the cost for an expected random production output, given an assembly of finished goods from two random inputs, matched in two categories. We describe the optimal input portfolio, first using the standard normal approximation of the binomial classification distributions, and second using a tight concave envelope instead of the exact output objective. The latter approach yields closed-form expressions for the factor demands and total costs which are linear in the expected output and which approximate the solution to the original minimum-cost matching problem for sufficiently large production batches. A key structural insight is that depending on the ratio of input prices, one of the inputs should be considered as “critical component” while the other assumes the role of a “buffer component.” As long as the cost ratio does not reach a critical threshold, which is proportional to the ratio of the grade-attainment likelihoods, the relative composition of the optimal input portfolio remains largely invariant. A numerical study confirms the practicality of the envelope approach, both as a seed for a numerical solution of the exact optimality conditions and as an approximate solution in closed-form.

2022Huanxi Liu, Michael Mark, Thomas Alois Weber

This paper addresses the issue of interpretability and auditability of reinforcement-learning agents employed in the recovery of unsecured consumer debt. To this end, we develop a deterministic policy-gradient method that allows for a natural integration of domain expertise into the learning procedure so as to encourage learning of consistent, and thus interpretable, policies. Domain knowledge can often be expressed in terms of policy monotonicity and/or convexity with respect to relevant state inputs. We augment the standard actor–critic policy approximator using a monotonically regularized loss function which integrates domain expertise into the learning. Our formulation overcomes the challenge of learning interpretable policies by constraining the search to policies satisfying structural-consistency properties. The resulting state-feedback control laws can be readily understood and implemented by human decision makers. This new domain-knowledge enhanced learning approach is applied to the problem of optimal debt recovery which features a controlled Hawkes process and an asynchronous action–feedback relationship.

2022