Optimisation of Production Under Uncertainty

Beschreibung

The book provides a short review of the classical approach to planning and decision making under uncertainty. It further explains the concept of state-contingent goods, and it extends earlier work on the state-contingent approach to describing production under uncertainty to the problems involved in optimising production under uncertainty.
The book provides a short review of the classical approach to planning and decision making under uncertainty. It further explains the concept of state-contingent goods, and it extends earlier work on the state-contingent approach to describing production under uncertainty to the problems involved in optimising production under uncertainty.
The state-contingent approach is described in a normative context Good numerical examples of how the state-contingent approach works Provides very good explanation of the state-contingent approach Gives a good review of the classical approach to the theory of planning under uncertainty Extends production economic theory to uncertain environment

Autor*in

Svend Rasmussen

Themen in »Optimisation of Production Under Uncertainty«

Good and Bad States of Nature Production Risk Averse State-Contingent Goods Utility Function

Stimmen zu »Optimisation of Production Under Uncertainty«

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