Overview
Part of the book series: The Springer International Series in Engineering and Computer Science (SECS, volume 373)
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Table of contents (5 chapters)
Keywords
About this book
To each decision problem, a cost function is associated. Costs may be direct or indirect, like loss of time, quality deterioration, loss in production or dissatisfaction of customers. In decision making under uncertainty, the goal is to minimize the expected costs. However, in practically all realistic models, the calculation of the expected costs is impossible due to the model complexity. Simulation is the only practicable way of getting insight into such models. Thus, the problem of optimal decisions can be seen as getting simulation and optimization effectively combined.
The field is quite new and yet the number of publications is enormous. This book does not even try to touch all work done in this area. Instead, many concepts are presented and treated with mathematical rigor and necessary conditions for the correctness of various approaches are stated.
Optimization of Stochastic Models: The Interface Between Simulation and Optimization is suitable as a text for a graduate level course on Stochastic Models or as a secondary text for a graduate level course in Operations Research.
Bibliographic Information
Book Title: Optimization of Stochastic Models
Book Subtitle: The Interface Between Simulation and Optimization
Authors: George Ch. Pflug
Series Title: The Springer International Series in Engineering and Computer Science
DOI: https://doi.org/10.1007/978-1-4613-1449-3
Publisher: Springer New York, NY
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eBook Packages: Springer Book Archive
Copyright Information: Kluwer Academic Publishers 1996
Hardcover ISBN: 978-0-7923-9780-9Published: 30 September 1996
eBook ISBN: 978-1-4613-1449-3Published: 06 December 2012
Series ISSN: 0893-3405
Edition Number: 1
Number of Pages: XIV, 382
Topics: Operations Research/Decision Theory, Optimization, Operations Research, Management Science, Calculus of Variations and Optimal Control; Optimization