| Multistage Stochastic Optimization Softcover Repri Edition Contributor(s): Pflug, Georg Ch (Author), Pichler, Alois (Author) |
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ISBN: 3319382675 ISBN-13: 9783319382678 Publisher: Springer OUR PRICE: $132.99 Product Type: Paperback - Other Formats Published: August 2016 |
| Additional Information |
| BISAC Categories: - Business & Economics | Operations Research - Mathematics | Applied - Mathematics | Probability & Statistics - General |
| Dewey: 519.6 |
| Series: Springer Series in Operations Research and Financial Enginee |
| Physical Information: 0.66" H x 6.14" W x 9.21" (0.98 lbs) 301 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: Multistage stochastic optimization problems appear in many ways in finance, insurance, energy production and trading, logistics and transportation, among other areas. They describe decision situations under uncertainty and with a longer planning horizon. This book contains a comprehensive treatment of today's state of the art in multistage stochastic optimization. It covers the mathematical backgrounds of approximation theory as well as numerous practical algorithms and examples for the generation and handling of scenario trees. A special emphasis is put on estimation and bounding of the modeling error using novel distance concepts, on time consistency and the role of model ambiguity in the decision process. An extensive treatment of examples from electricity production, asset liability management and inventory control concludes the book. |