New Management Science Findings from J. Woodruff and Co-Researchers Described (Optimized Financial Systems Helps Customers Meet Their Personal…
New Management Science Findings from
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Our news editors obtained a quote from the research, "Additionally, taxpayers can choose to convert savings from one account type, such as a traditional individual retirement arrangement (IRA), into another, such as a Roth IRA; all such choices have both immediate and long-term tax consequences. We give the rationale for applying stochastic optimization in this setting and explain how such an optimization model can be constructed as a multiple-stage stochastic linear or mixed-integer program."
According to the news editors, the research concluded: "Optimized Financial Systems implements such a model and uses it to advise clients; we demonstrate the approach's benefits by examining its recommendations both for test data and in a case study based on an actual customer."
For more information on this research see: Optimized Financial Systems Helps Customers Meet Their Personal Finance Goals with Optimization. Interfaces, 2016;46(4):345-359. Interfaces can be contacted at:
The news editors report that additional information may be obtained by contacting Financial Syst,
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