Optimal Decisions Under Uncertainty

Name: Optimal Decisions Under Uncertainty
Brand: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
SKU: 9783540150329
Price: 19595 HUF
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Methods, Models, and Management

Szerző: J. K. Sengupta

Nyelv:

Kötés: Puha kötésű

Kiadó: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG

Elérhetőség: Beszállítói készleten

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Understanding the stochastic enviornment is as much important to the manager as to the economist. Fr...

Információk a könyvről

Szerző

J. K. Sengupta

Nyelv

Angol

Kötés

Könyv - Puha kötésű

Kiadva

1985

oldal

286

EAN

9783540150329

ISBN

9783540150329

Enbook ID

06623512

Kiadó

Springer-Verlag Berlin and Heidelberg GmbH & Co. KG

Súly

522

Méretek

170 x 244 x 17

Teljes leírás

Understanding the stochastic enviornment is as much important to the manager as to the economist. From production and marketing to financial management, a manager has to assess various costs imposed by uncertainty. The economist analyzes the role of incomplete and too often imperfect information structures on the optimal decisions made by a firm. The need for understanding the role of uncertainty in quantitative decision models, both in economics and management science provide the basic motivation of this monograph. The stochastic environment is analyzed here in terms of the following specific models of optimization: linear and quadratic models, linear programming, control theory and dynamic programming. Uncertainty is introduced here through the para meters, the constraints, and the objective function and its impact evaluated. Specifically recent developments in applied research are emphasized, so that they can help the decision-maker arrive at a solution which has some desirable charac teristics like robustness, stability and cautiousness. Mathematical treatment is kept at a fairly elementary level and applied as pects are emphasized much more than theory. Moreover, an attempt is made to in corporate the economic theory of uncertainty into the stochastic theory of opera tions research. Methods of optimal decision rules illustrated he re are applicable in three broad areas: (a) applied economic models in resource allocation and economic planning, (b) operations research models involving portfolio analysis and stochastic linear programming and (c) systems science models in stochastic control and adaptive behavior.

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Optimal Decisions Under Uncertainty

Methods, Models, and Management

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Teljes leírás

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