The Research Training Group (RTG) “Advanced Optimization in a Networked Economy“ is jointly hosted by the Schools of Management, Informatics, and Mathematics at Technical University of Munich.
Efficient resource allocation is key to the profitability of firms, and for the prosperity and sustainability of an economy. Resource allocation is therefore a central topic in the management sciences and in economics. Although, there have been substantial algorithmic advances in mathematical optimization in the past two decades, the challenges of a networked economy are fundamental, and they demand for new research at the intersection of management science, informatics, and mathematics. In particular, it requires new approaches, methods, and topics taught in graduate education in operations research and management science.
Future research on advanced optimization in a networked economy will require us to broaden the study and training program of researchers in the following three areas: new computational techniques to solve large problems and handle large data sets, the consideration of incentives in situations with multiple decision makers, and the consideration of dynamism and uncertainty in the parameters of resource allocation problems.
Solving real-world problems has always been a strength of operations research. For the development of new methods and models, it is important to understand requirements of real problems and have real-world data available. This allows synergies across different application domains, and then generalize to more abstract models and theory relevant to management and industry. The research program focuses on important application-oriented projects that would benefit from an interdisciplinary approach, including shared mobility, resource pooling, retail coordination, sales and operations planning, IT management, and airport operations.
Students with a background in one of the three involved disciplines and interest in at least one other discipline will undergo a comprehensive study, training and research program. Specifically designed interdisciplinary projects between Management Science, Informatics, and Mathematics will help develop the ability to model, analyze, solve, and implement solutions for challenging management problems relevant in practice.
Technical University of Munich