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| Author: | White, D. J. |
| Title: | A min-max-max-min approach to solving a stochastic programming problem with simple resource. |
| Journal: | Management Science
1992 : APR, VOL. 38:4, p. 540-554 |
| Index terms: | STOCHASTIC PROGRAMMING CONTINGENCY PLANNING DECISION MAKING PROBLEM SOLVING |
| Language: | eng |
| Abstract: | A problem of finding exact optimal contingency plans is considered when, after certain effects have taken place, additional resources may be required to implement a program determined prior to these events. Determining the level of certain decisions is examined as well as the subsequent additional resource procurement decisions needed to implement the initial program once these events have materialized. The problem is formulated first as a max-min problem, and then as an equivalent min-max problem. The latter is easier to solve than the max-min problem. |
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