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Stochastic processes. --- Mathematical optimization. --- Processus stochastiques --- Optimisation mathématique --- Optimisation mathématique --- Optimisation mathématique. --- Processus stochastiques. --- Optimisation mathématique.

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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.

Stochastic processes. --- Mathematical optimization. --- Optimization (Mathematics) --- Optimization techniques --- Optimization theory --- Systems optimization --- Mathematical analysis --- Maxima and minima --- Operations research --- Simulation methods --- System analysis --- Random processes --- Probabilities --- Operations research. --- Operations Research/Decision Theory. --- Operations Research, Management Science. --- Optimization. --- Operational analysis --- Operational research --- Industrial engineering --- Management science --- Research --- System theory --- Decision making. --- Management science. --- Quantitative business analysis --- Management --- Problem solving --- Statistical decision --- Deciding --- Decision (Psychology) --- Decision analysis --- Decision processes --- Making decisions --- Management decisions --- Choice (Psychology) --- Decision making

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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.

Methodology of economics --- Economics --- Numerical methods of optimisation --- Operational research. Game theory --- Mathematical statistics --- Planning (firm) --- Business management --- Business economics --- Computer. Automation --- financieel management --- bedrijfseconomie --- automatisering --- economie --- mathematische modellen --- econometrie --- wiskunde --- operationeel onderzoek

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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. [Back cover]

Mathematical optimization. --- Stochastic processes. --- Optimisation mathématique. --- Processus stochastiques.

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This book gathers a selection of refereed papers presented at the “International Conference on Operations Research OR2015,” which was held at the University of Vienna, Austria, September 1-4, 2015. Over 900 scientists and students from 50 countries attended this conference and presented more than 600 papers in parallel topic streams as well as special award sessions. Though the guiding theme of the conference was “Optimal Decision and Big Data,” this volume also includes papers addressing practically all aspects of modern Operations Research. .

Operations research --- Business. --- Production management. --- Game theory. --- Operations research. --- Management science. --- Engineering economics. --- Engineering economy. --- Business and Management. --- Operations Research/Decision Theory. --- Operations Research, Management Science. --- Operations Management. --- Game Theory, Economics, Social and Behav. Sciences. --- Engineering Economics, Organization, Logistics, Marketing. --- Mathematics. --- Math --- Science --- Economy, Engineering --- Engineering economics --- Industrial engineering --- Manufacturing management --- Industrial management --- Operational analysis --- Operational research --- Management science --- Research --- System theory --- Decision making. --- Games, Theory of --- Theory of games --- Mathematical models --- Mathematics --- Quantitative business analysis --- Management --- Problem solving --- Statistical decision --- Deciding --- Decision (Psychology) --- Decision analysis --- Decision processes --- Making decisions --- Management decisions --- Choice (Psychology) --- Decision making