A decision support framework for robust R&D budget allocation using machine learning and optimization

Considering that government funding agencies make decisions on research and development (R&D) budget allocation to support an increasing number of research proposals, effective decision support systems are necessarily required. Motivated by the efforts of the Korean government, we propose a new decision support framework for allocating an R&D budget such that it maximizes the total expected R&D output. The proposed framework incorporates an R&D...