Published: Jun 12, 2006 3:28:47 PM
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Alice E. Smith, chair of the Department of Industrial and Systems Engineering in the Samuel Ginn College of Engineering, and co-author Ravipum Chaveesuk, assistant professor of agro-industrial technology management at Kasetsart University in Bangkok, Thailand, have been selected to receive the 2006 Eugene L. Grant Award, given for the best paper in issues of the previous year of the Engineering Economist journal. This was the second time Smith has received the award.
Smith and Chaveesuk's paper, Dual Kriging: An Exploratory Use in Economic Metamodeling, investigates the dual kriging approach. The paper is the first known work using kriging - an interpolation method for obtaining statistically unbiased estimates - in the field of engineering economics. Dual kriging incorporates special relationships into statistical analysis as an alternative to conventional capital investment analysis.
The Grant Award is the top publication honor in the engineering economics field. It is a joint award from American Society of Engineering Education (ASEE) and Institute of Industrial Engineers (IIE). This year's award will be presented at the ASEE annual conference on Tuesday, June 20 in Chicago.
"It is an honor to have received such a prestigious award from the ASEE," Smith said. "Dr. Chaveesuk specializes in engineering economics, and it's wonderful to see the work she and I have done together recognized in this manner."