In this section, you can access to the latest technical information related to the FUTURE project topic.

An option contract for vaccine procurement using the SIR epidemic model

Timely and adequate supply of vaccines in disastrous situations has a key role in controlling communicable diseases. This paper develops a specific option contract for proactively provisioning required vaccine doses from two suppliers (a main and a backup). The model aims to minimize the procurement and social costs using the SIR epidemic model. A novel hybrid solution procedure is developed using the optimal control theory, Stackelberg game model and nonlinear programming approaches. To evaluate the performance of the developed solution method, a number of numerical examples are presented and their results are discussed.

» Author: Ietza Bojorquez, Cecilia Rosales, Alexandra Angulo, Jill de Zapien, Catalina Denman, Hala Madanat

» Reference: European Journal of Operational Research, Volume 267, Issue 3

» Publication Date: 16/06/2018

» Source: ScienceDirect - GPP

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