ALGORITHMS FOR WORST-CASE DESIGN AND APPLICATIONS TO RISK MANAGEMENT
Language: English
Published by Princeton University Press, Princeton, 2002
- First Edition
- Hardcover
- Used
Seller: Second Story Books, ABAA, Rockville, MD, U.S.A.Second Story Books, ABAA
AbeBooks seller since May 29, 1997
Condition: Used
US$ 26.25
Quantity: 1 available
Add to basketItem description from seller
Octavo, xi, xv, 389 pages. In Very Good condition with a Very Good minus dust jacket. Spine pictorial gray/pink with red and white lettering. Exterior has slight shelf wear including few scratches/scuffs and slight edge wear. Previous bookshop's sticker to the rear. Boards have minimal wear. Text block has very faint wear to the edges. Illustrated. First edition, first printing. NOTE: Shelved in Netdesk Column M, ND-M. 1385268. FP New Rockville Stock.
Seller Inventory # 1385268
- Title
- ALGORITHMS FOR WORST-CASE DESIGN AND APPLICATIONS TO RISK MANAGEMENT
- Author
- Rustem, Berç and Howe, Melendres
- Publisher
- Princeton University Press, Princeton
- Publication year
- 2002
- Dust jacket
- Dust Jacket Included
- Binding
- Hardcover
- Language
- English
- ISBN 10
- 0691091544
- ISBN 13
- 9780691091549
- Edition
- First Edition, First Printing.
- Seller catalogs
- Social Sciences
Recognizing that robust decision making is vital in risk management, this book provides concepts and algorithms for computing the best decision in view of the worst-case scenario. The main tool used is minimax, which ensures robust policies with guaranteed optimal performance that will improve further if the worst case is not realized. The applications considered are drawn from finance, but the design and algorithms presented are equally applicable to problems of economic policy, engineering design, and other areas of decision making.
Critically, worst-case design addresses not only Armageddon-type uncertainty. Indeed, the determination of the worst case becomes nontrivial when faced with numerous--possibly infinite--and reasonably likely rival scenarios. Optimality does not depend on any single scenario but on all the scenarios under consideration. Worst-case optimal decisions provide guaranteed optimal performance for systems operating within the specified scenario range indicating the uncertainty. The noninferiority of minimax solutions--which also offer the possibility of multiple maxima--ensures this optimality.
Worst-case design is not intended to necessarily replace expected value optimization when the underlying uncertainty is stochastic. However, wise decision making requires the justification of policies based on expected value optimization in view of the worst-case scenario. Conversely, the cost of the assured performance provided by robust worst-case decision making needs to be evaluated relative to optimal expected values.
Written for postgraduate students and researchers engaged in optimization, engineering design, economics, and finance, this book will also be invaluable to practitioners in risk management.
"Synopsis" may belong to another edition of this title.
About the Author
"About the title" may belong to another edition of this title.
Second Story Books, ABAA
Rockville, MD, U.S.A.
Shipping rates within U.S.A.
| Item | 5 to 14 business days | 3 to 6 business days |
|---|---|---|
| First item | US$ 7.00 | US$ 11.00 |
Payment methods
Store description
DC's Oldest Rare and Used Bookstore, Second Story Books operates two open shops in the Washington D.C. metropolitan area. We have an extensive internet presence, provide accredited appraisals member ASA, and have an in house book binder. For more information go to www.secondstorybooks.com
Specialty
ephemera and graphics, Antiquarian, rare, usedAssociation member
Seller's business information
Second Story Books, ABAA
12160 Parklawn Dr
Rockville, MD U.S.A. 20852
Terms of sale
INCLUDE THE BOOKSELLER INVENTORY/CATALOG NUMBER OF THE TITLE(S) IN QUESTION IN ANY CORRESPONDENCE. Failure to do so may delay responses to inquiries.
PLEASE DO NOT SEND CHECKS OR MONEY ORDERS WITHOUT PRIOR CONFIRMATION OF THE BOOK'S AVAILABILITY. DO NOT SEND CHECKS OR MONEY ORDERS WITHOUT REFERENCE TO THE COMPLETE TITLE & INVENTORY NUMBER
International customers are responsible for all Duties/Taxes/VATs/etc. imposed by their government
**With international shipments, once a package leaves the United States and is accepted by the customer's/recipient's country, the customer/recipient is responsible for tracking their package and resolving any issues regarding customs office requests. The seller cannot contact international customs department or international post offices on a customer's/recipient's behalf. What we, the seller, can do is provide you, the customer/recipient, all the shipping records, tracking information, and any other relevant information and you, the cusomter/recipient, will need to contact your local post office and they will be able to assist you in resolving any customs issues.
If you wish to insure your order and/or have special shipping instructions, please contact the seller via email for details. We are happy to accomodate your shipping needs (within reason).
American Express, Visa, MasterCard, honored.
RULES FOR REFUNDS/RETURNS
Returns/Refunds are handled as detailed by ABE's return policy, which can be found here: https://help.abebooks.com/how-do-i-get-a-refund/. We do ask that you reach out to us, directly via email, regarding your intent to return a package before you send anything back. Failure to comply will complicate and delay your return process.
-PLEASE NOTE- We cannot deviate from these steps in the return/refund process and any request to do so will be declined and ABEbooks customer service will be brough in to serve as a 3rd party mediator. We do not print return labels and requests to do so will be declined. Failure to comply will delay and/or invalidate your return.
Shipping terms
For international shipping, there is really only one method now, Air. So we state one price. We shall gladly reduce your shipping charge if the cost is less than our quoted rate; likewise, if your package costs significantly more, we'll request that you pay an additional amount.