Stochastic Optimization Methods: Applications in Engineering and Operations Research

Marti, Kurt

ISBN 10: 3031400585 / ISBN 13: 9783031400582

Published by Springer, 2024

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Seller Inventory # 400516067

Bibliographic Details

Title: Stochastic Optimization Methods: ...

Publisher: Springer

Publication Date: 2024

Binding: Hardcover

Condition: New

Edition: 4th Edition

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Synopsis:

This book examines optimization problems that in practice involve random model parameters. It outlines the computation of robust optimal solutions, i.e., optimal solutions that are insensitive to random parameter variations, where appropriate deterministic substitute problems are needed. Based on the probability distribution of the random data and using decision theoretical concepts, optimization problems under stochastic uncertainty are converted into corresponding deterministic problems.

Due to the probabilities and expectations involved, the book...

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