Rafael (Rafi) Lazimy

Associate Professor - Operations & Information Management

BIO
RESEARCH
TEACHING
SERVICE

Rafael Lazimy is an associate professor in the Department of Operations and Information Management at the Wisconsin School of Business.
His primary research areas are in:
• Microeconomic Theory:
o New, Unified Approaches o Microeconomic Theory
o Microeconomic Theory of Indivisibility
o Prospect Theory
o Vertical Differentiation under Mixed Market Structures: Price- and Quality-Based Competition
• Optimization and its Applications (Mathematical Programming)
• Multiple Criteria Decision Making/Multiobjective Optimization
• Financial Economics
• Game-Theoretic Modeling:
o New Product Development: Time-to-Market, Product Performance, and Market Performance
o Strategic Information Technology Adoption and Diffusion
o Game-Theoretic Modeling of International Conflicts/Rivalries
• Knowledge-Based Management Systems; Decision-Support Systems; Integrated Modeling Systems

He previously chaired the Operations and Information Management Department.

He received his DBA from Harvard University’s Graduate School of Business Administration.

Selected Accepted Journal Articles

Lazimy, R. (2012). Interactive Polyhedral Outer Approximation (IPOA) Methods for General Multiobjective Optimization Problems. Annals of Operations Research

Selected Published Journal Articles

Lazimy, R. (2007). Portfolio Selection with Risky Divisible and Indivisible Assets: Mathematical Algorithm and Economic Analysis. Annals of Operations Research (152), 273-295.

Lazimy, R. (1993). Object-Oriented Modeling Support System: Model Representation and Incremental Modeling. Twenty-Sixth Annual Hawaii International Conference on Systems Sciences, IEEE Computer Society Press (3), 445-460.

Lazimy, R. (1991). A Deductive Approach for Problem Representation and Modeling Support: Conceptual Schema and Object-Oriented Models. Twenty-Fourth Hawaii International Conference on Systems Sciences, IEEE Computer Society Press (3), 291-305.

Lazimy, R. (1990). E2R Model and Object-Oriented Representation for Data Management, Process Modeling, and Decision Support. Entity-Relationship Approach to Database Design and Querying, in: F. H. Lochovsky (ed. ) Elsevier Science Publishers B.V. (North-Holland) (Entity-Relationship Approach to Database Design and Querying, Elsevier Science Publishers B.V. (North-Holland), 1990.), pp. 129 -151.

Lazimy, R. (1988). Knowledge Representation and Modeling Support in Knowledge-Based Systems. Entity-Relationship Approach, Elsevier Science Publishers B. V. (North-Holland) (S. T. March (ed.)) (S. T. March (ed.), Entity-Relationship Approach, Elsevier Science Publishers), 133-161.

Lazimy, R. (1988). An Exact Penalty Function and Relaxation Approach for Solving Decomposable Nonlinear Programs. SIAM Journal on Control and Optimization (26), 127-137.

Lazimy, R. (1987). A Generic Shell Approach for Knowledge Elicitation and Representation in IDSS. Proceedings of the Eighth Annual International Conference on Information Systems (Proceedings of the Eighth Annual International Conference on Information Systems), 335-350.

Lazimy, R. (1986). Solving Multiple Criteria Problems by Interactive Decomposition. Mathematical Programming (35), 334-361.

Lazimy, R. (1986). Interactive Relaxation Method for a Broad Class of Integer and Continuous Nonlinear Multiple Criteria Problems. Journal of Mathematical Analysis and Applications (116), 553-573.

Lazimy, R. (1986). Extension of the Generalized Benders' Decomposition. Communications in Applied Numerical Methods (2 ), 195-203.

Lazimy, R. (1985). Improved Algorithm for Mixed-Integer Quadratic Programs and a Computational Study. Mathematical Programming (31), 100-113.

Lazimy, R. (1985). Equilibrium in a Market with Divisible and Indivisible Risky Assets. Keio Economic Studies (22), 27-45.

Lazimy, R., & Levy, H. (1983). The Effects of Variable and Fixed Transactions Costs on Optimal Investment Decisions. Decision Sciences (14), 527-545.

Lazimy, R. (1982). Mixed-Integer Quadratic Programming. Mathematical Programming (22), 332-349.

Submitted Working Papers

Lazimy, R. The Cost of Indivisibility and the Valuation of Risky Indivisible Investments. Completed;To be submitted

Lazimy, R. Target- and Rank-Dependent (TRD) Theory of Choice under Risk. Near completion; to be submitted to an Econ journal

Lazimy, R. A Unified, Non-Utility Framework to Microeconomic Modeling with Multiple Objectives and Multiple Aspiration/Reference Points. Near completion; To be submitted to an Econ journal

Lazimy, R. Strong Polyhedral Outer-Approximation with Exact Penalty Function for Non-Smooth Nonlinear Optimization Problems. Work is complete; soon to be submitted to an OR journal

Lazimy, R. Microeconomic Theory of Indivisibility: Shadow prices, Opportunity Costs, and Market Failure. To be submitted to an Econ journal

Presentations

INFORMS Annual Meeting
Optimal Time-to-Market and Product Performance in a Competitive Environment: A Game-Theoretic Approach

INFORMS Annual Meeting
Timing and Performance Factors in Strategic Information Technology Adoption and Diffusion: A Game-Theoretic Approach

VIGRE Seminar in the Mathematics Department
Tradeoffs Between Time-to-Market and Product Performance in a Competitive Environment

Twenty-Sixth Annual Hawaii International Conference on Systems Sciences
Object-Oriented Modeling Support System: Model Representation and Incremental Modeling

ORSA/TIMS National Meeting, Orlando, April 1992
Accelerated Outer-Linearization for Mixed-Integer/Large-Scale or Non-Smooth Nonlinear Programs

Forschungsinstitut fur Anwendungsori-entierte Wissensverarbeitung (FAW) (Artificial Intelligence Laboratory), Ulm, West Germany
Integrated Intelligent Modeling System based on the Object-Oriented Representation

Twenty-Fourth Annual Hawaii International Conference on System Sciences
A Deductive Approach for Problem Representation and Modeling Support: Conceptual Schema and Object-Oriented Models

ORSA/TIMS National Meeting, Las Vegas
Proposed Knowledge-Base Design for Data Management, Process Modeling, and Decision Support

8th International Conference on Equity-Relationship Approach
E2R Model and Object-Oriented Representation for Data Management, Process Modeling, and Decision Support

ORSA/TIMS National Meeting, Denver
Object-Oriented Approach to Integrated Modeling and Decision Support System: The Modeling Support System

8th Annual International Conference on Information Systems
A Generic Shell Approach for Knowledge Elicitation and Representation in IDSS

6th International Conference on Entity-Relationship Approach
Knowledge Representation and Modeling Support in Knowledge-Based Systems

ORSA/TIMS National Meeting, St. Louis
Interactive Programming Algorithms for Continuous and Integer Nonlinear Multiple Criteria Problems

ORSA/TIMS National Meeting, St. Louis
Knowledge Representation and Modeling Support in Knowledge-Based Systems

12th International Symposium on Mathematical Programming
On Generalized Benders' Decomposition

University of Illinois-Champaign/Urbana, College of Commerce and Business Administration
Mixed-Integer Portfolio Selection Decisions

University of Illinois-Champaign/Urbana, College of Commerce and Business Administration
Multiple Criteria Decision Making

Tel-Aviv University, Faculty of Management, Faculty Research Seminar in Operations Research
Decomposition and Relaxation in Mathematical Programming

State University of New York, Buffalo, School of Business
Mixed-Integer Quadratic Programming Algorithms and a Computational Study

The University of Texas at Austin, Department of Accounting Research Colloquium
Portfolio Selection with Divisible and Indivisible Risky Assets

Tel-Aviv University, Faculty of Management, Faculty Research Seminar in Operations Research
Mixed-Integer Quadratic Programming

The Hebrew University, Graduate School of Business Administration, Faculty Research Seminar
Variable and Fixed Transaction Costs and Optimal Portfolio Selection

TIMS/ORSA Joint National Meeting in San Francisco, CA
An Interactive Programming Method for Solving a Class of Discrete Multiple Criteria Problems

TIMS/ORSA Joint National Meeting in San Francisco, CA
An Interactive Programming Method for Solving the Multiple Criteria Problem

Combined Undergraduate & Graduate Courses

Computer-Based Data Management (I S/I S 722/422 Section 2), Fall 2012.

Database Management and Applications (OTM/OTM 442/765 Section 1), Fall 2012.

Analysis and Design of Computer-Based Systems (I S/I S 424/724 Section 1), Spring 2012.