
Accession Number : AD0724902
Title : Parametric Evaluation and MeanStandard Deviation Analysis in Stochastic Programming Models.
Descriptive Note : Research rept.,
Corporate Author : CARNEGIEMELLON UNIV PITTSBURGH PA MANAGEMENT SCIENCES RESEARCH GROUP
Personal Author(s) : Itami,Hiroyuki
Report Date : AUG 1970
Pagination or Media Count : 43
Abstract : The main interest is in investigating several kinds of implications of stochastic programming models and their uses to provide several types of dialogues between formal models and the decision maker himself under risktaking situations. First, some stochastic programming models which are often discussed in the literature are presented and parametric evaluations using dual evaluators are attempted. Second, we see a close relationship between these models and the meanstandard deviation analysis mainly developed in the context of portfolio selection theory. Third, we explore utility implications of these models in connection with the expected utility maximization principle. Finally, attempts are made to impute the value(s) of key parameters in each of these models and some other utility models from the actual decision made in the meanstandard devication analysis of framework. (Author)
Descriptors : (*LINEAR PROGRAMMING, STOCHASTIC PROCESSES), (*MANAGEMENT PLANNING AND CONTROL, DECISION MAKING), UNCERTAINTY, MATHEMATICAL MODELS, NONLINEAR PROGRAMMING, QUADRATIC PROGRAMMING, ECONOMICS, PROBABILITY
Subject Categories : Administration and Management
Economics and Cost Analysis
Operations Research
Distribution Statement : APPROVED FOR PUBLIC RELEASE