An incentive dynamic programming method for the optimization of scholarship assignment
type: Item
instance of: scholarly article
title: An incentive dynamic programming method for the optimization of scholarship assignment
zbMATH Open document ID: 1417.90148
DOI: 10.1155/2018/5206131
author: Di Huang
author: Yu Gu
author: Hans Wang
author: Zhiyuan Liu
author: Jun Chen
published in: Discrete Dynamics in Nature and Society
publication date: 2019-02-20T00:00:00Z
review text: Summary: Scholarship assignment is an operations management problem confronting university administrators, which is traditionally solved based on administrators' personal experiences. This paper proposes an incentive method inspired by dynamic programming to replace the traditional decision-making process in the scholarship assignment. The objective is to find the optimal scholarship assignment scheme with the highest equity while accounting for both the practical constraints and the equity requirement. Moreover, with the proposed method, the scholarship assignment avoids time- and energy-consuming application processes conducted by students. A solution algorithm is used to find feasible assignment schemes by iteratively solving a series of knapsack subproblems based on dynamic programming and adjusting the monetary value of a unit score. The optimal assignment scheme can then be screened out by applying the Gini coefficient for quantifying the equity of each feasible scheme. A numerical case is investigated to illustrate the applicability of the proposed method and solution algorithm. The results indicate that the proposed method is an efficient tool to assign scholarships to students with consideration of the equity.
Mathematics Subject Classification ID: 90C39
Mathematics Subject Classification ID: 90B80
zbMATH DE Number: 7026607
describes a project that uses: Knapsack
MaRDI profile type: Publication
full work available at URL: https://doi.org/10.1155/2018/5206131
OpenAlex ID: W2885878106
cites work: The scholarship assignment problem
cites work: Q3751378
cites work: The knapsack problem: A survey
cites work: Dynamic Programming and Strong Bounds for the 0-1 Knapsack Problem
cites work: Dynamic programming algorithms for the zero-one knapsack problem
cites work: A Minimal Algorithm for the 0-1 Knapsack Problem
cites work: Integrated Production, Inventory and Delivery Problems: Complexity and Algorithms
Wikidata QID: Q129403292
description: scientific article; zbMATH DE number 7026607