Solving Discrete Optimization Problems When Element Costs are Random

12 Pages Posted: 27 Oct 2012

See all articles by Diptesh Ghosh

Diptesh Ghosh

Indian Institute of Management (IIM), Ahmedabad

Shubhabratha Das

Indian Institute of Management (IIMB), Bangalore

Date Written: July 25, 2000

Abstract

In a general class of discrete optimization problems with min-sum objective function, some of the elements may have random costs associated with them. In such a situation, the notion of optimality needs to be suitably modified. We define an optimal solution to be a feasible solution with the minimum risk. It is shown that the knowledge of the means of these random costs is enough to reduce such a problem into one with no random costs.

Suggested Citation

Ghosh, Diptesh and Das, Shubhabratha, Solving Discrete Optimization Problems When Element Costs are Random (July 25, 2000). IIM Bangalore Research Paper No. 157, Available at SSRN: https://ssrn.com/abstract=2161745 or http://dx.doi.org/10.2139/ssrn.2161745

Diptesh Ghosh

Indian Institute of Management (IIM), Ahmedabad ( email )

Vastrapur
Ahmedabad, Gujarat 380 015
India

Shubhabratha Das (Contact Author)

Indian Institute of Management (IIMB), Bangalore ( email )

Bannerghatta Road
Bangalore, Karnataka 560076
India

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