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Three optimization models, sensitivity-based, scenario-based and min max, are proposed for determining robust optimal improvement schemes that make system performance insensitive to realizations of uncertain demands or allow the system to perform better against the worst-case demand scenario.
The fuzzy controller combined Taguchi parameter design, which makes the control performance insensitive to the operating condition changes and noise was used to determine the membership functions.
Product functional performance is usually affected by uncertainties of design parameters, robust design can make product functional performance insensitive to those uncertainties.
While traditional experimental design focuses on the average process performance characteristics, this approach concentrates on the effect of variation on the process characteristics (Phadke, 1989; Ross, 1996) and makes the product and or process performance insensitive to variation by proper design of factors.
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Many Israelis deem such performances insensitive to survivors of the Holocaust.
By endorsing performance-insensitive compensation packages, broadly diversified investors are indeed incentivizing CEOs for good performance.
Such performance-insensitive pay packages seem to defy both common sense and established economic theory on optimal incentives.
It is not clear that large, diversified shareholders such as BlackRock intentionally choose performance-insensitive CEO compensation for the explicit goal of discouraging intra-industry competition.
Our research sheds light on the changing nature of executive compensation, and apparent negative effects of weaker competition and more performance-insensitive pay.
It could simply be that large, diversified investors let performance-insensitive executive compensation slide because their corporate governance efforts are more passive than those of undiversified activist investors.
In short, our research suggests that BlackRock, Vanguard, State Street, and other large asset management companies may be endorsing high, performance-insensitive compensation packages, because those don't encourage competition among portfolio firms.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com