Solving Discrete Optimization Problems When Element Costs are Random
12 Pages Posted: 27 Oct 2012
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: 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
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