Optimal Decisions Under Uncertainty: Methods, Models, and Management
Gespeichert in:
1. Verfasser: | |
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Berlin, Heidelberg
Springer Berlin Heidelberg
1985
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Schriftenreihe: | Universitext
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Schlagworte: | |
Online-Zugang: | Volltext |
Beschreibung: | 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 parameters, 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 characteristics like robustness, stability and cautiousness. Mathematical treatment is kept at a fairly elementary level and applied aspects are emphasized much more than theory. Moreover, an attempt is made to incorporate the economic theory of uncertainty into the stochastic theory of operations research. Methods of optimal decision rules illustrated here 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 |
Beschreibung: | 1 Online-Ressource (X, 286 p) |
ISBN: | 9783642701634 9783540150329 |
ISSN: | 0172-5939 |
DOI: | 10.1007/978-3-642-70163-4 |
Internformat
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Datensatz im Suchindex
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any_adam_object | |
author | Sengupta, Jati K. |
author_facet | Sengupta, Jati K. |
author_role | aut |
author_sort | Sengupta, Jati K. |
author_variant | j k s jk jks |
building | Verbundindex |
bvnumber | BV042422950 |
classification_tum | MAT 000 |
collection | ZDB-2-SMA ZDB-2-BAE |
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dewey-ones | 658 - General management |
dewey-raw | 658.40301 |
dewey-search | 658.40301 |
dewey-sort | 3658.40301 |
dewey-tens | 650 - Management and auxiliary services |
discipline | Mathematik Wirtschaftswissenschaften |
doi_str_mv | 10.1007/978-3-642-70163-4 |
format | Electronic eBook |
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id | DE-604.BV042422950 |
illustrated | Not Illustrated |
indexdate | 2024-07-10T01:21:12Z |
institution | BVB |
isbn | 9783642701634 9783540150329 |
issn | 0172-5939 |
language | English |
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publisher | Springer Berlin Heidelberg |
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spelling | Sengupta, Jati K. Verfasser aut Optimal Decisions Under Uncertainty Methods, Models, and Management by Jati K. Sengupta Berlin, Heidelberg Springer Berlin Heidelberg 1985 1 Online-Ressource (X, 286 p) txt rdacontent c rdamedia cr rdacarrier Universitext 0172-5939 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 parameters, 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 characteristics like robustness, stability and cautiousness. Mathematical treatment is kept at a fairly elementary level and applied aspects are emphasized much more than theory. Moreover, an attempt is made to incorporate the economic theory of uncertainty into the stochastic theory of operations research. Methods of optimal decision rules illustrated here 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 Economics Economics/Management Science Operations Research/Decision Theory Economic Theory Management Wirtschaft Entscheidungsmodell (DE-588)4121201-0 gnd rswk-swf Unternehmen (DE-588)4061963-1 gnd rswk-swf Entscheidung bei Unsicherheit (DE-588)4070864-0 gnd rswk-swf Unsicherheit (DE-588)4186957-6 gnd rswk-swf Management (DE-588)4037278-9 gnd rswk-swf Management (DE-588)4037278-9 s Unsicherheit (DE-588)4186957-6 s Entscheidungsmodell (DE-588)4121201-0 s 1\p DE-604 Entscheidung bei Unsicherheit (DE-588)4070864-0 s 2\p DE-604 Unternehmen (DE-588)4061963-1 s 3\p DE-604 https://doi.org/10.1007/978-3-642-70163-4 Verlag Volltext 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 2\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk 3\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
spellingShingle | Sengupta, Jati K. Optimal Decisions Under Uncertainty Methods, Models, and Management Economics Economics/Management Science Operations Research/Decision Theory Economic Theory Management Wirtschaft Entscheidungsmodell (DE-588)4121201-0 gnd Unternehmen (DE-588)4061963-1 gnd Entscheidung bei Unsicherheit (DE-588)4070864-0 gnd Unsicherheit (DE-588)4186957-6 gnd Management (DE-588)4037278-9 gnd |
subject_GND | (DE-588)4121201-0 (DE-588)4061963-1 (DE-588)4070864-0 (DE-588)4186957-6 (DE-588)4037278-9 |
title | Optimal Decisions Under Uncertainty Methods, Models, and Management |
title_auth | Optimal Decisions Under Uncertainty Methods, Models, and Management |
title_exact_search | Optimal Decisions Under Uncertainty Methods, Models, and Management |
title_full | Optimal Decisions Under Uncertainty Methods, Models, and Management by Jati K. Sengupta |
title_fullStr | Optimal Decisions Under Uncertainty Methods, Models, and Management by Jati K. Sengupta |
title_full_unstemmed | Optimal Decisions Under Uncertainty Methods, Models, and Management by Jati K. Sengupta |
title_short | Optimal Decisions Under Uncertainty |
title_sort | optimal decisions under uncertainty methods models and management |
title_sub | Methods, Models, and Management |
topic | Economics Economics/Management Science Operations Research/Decision Theory Economic Theory Management Wirtschaft Entscheidungsmodell (DE-588)4121201-0 gnd Unternehmen (DE-588)4061963-1 gnd Entscheidung bei Unsicherheit (DE-588)4070864-0 gnd Unsicherheit (DE-588)4186957-6 gnd Management (DE-588)4037278-9 gnd |
topic_facet | Economics Economics/Management Science Operations Research/Decision Theory Economic Theory Management Wirtschaft Entscheidungsmodell Unternehmen Entscheidung bei Unsicherheit Unsicherheit |
url | https://doi.org/10.1007/978-3-642-70163-4 |
work_keys_str_mv | AT senguptajatik optimaldecisionsunderuncertaintymethodsmodelsandmanagement |