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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Two-Stage Stochastic Linear Programming With Recourse

Two-Stage Stochastic Linear Programming With Recourse

Mills, David T.

Paperback

Business GeneralGeneral MathematicsProbability & Statistics

ISBN10: 1025087054
ISBN13: 9781025087054
Publisher: Hutson Street Press
Published: May 22 2025
Pages: 92
Weight: 0.31
Height: 0.19 Width: 6.14 Depth: 9.21
Language: English

The LP recourse problem applies to two-stage optimization problems where uncertainty in resource availability of the second stage hinders informed decision making. The recourse function affords a way to compensate later for an error in prediction now. The literature provides a rich body of work on the optimization of such problems, but little research has been accomplished regarding the characterization of the surface in the local region of optimality, in particular sensitivity analysis. A decision maker faced with considerations other than the modeled objective function must be presented with a way to estimate the impact of operating at non-optimal decision variable values. This work develops and demonstrates a technique for characterizing the surface using response surface methodology. Specifically, the flexibility and utility of RSM techniques applied to this class of problems is demonstrated, and a methodology for characterizing the surface in the local region using a low-order polynomial is developed.

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