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Title: SOLUTION OF STRAIGHT AND DUAL MULTI-EXTREMAL TASKS OF STOCHASTIC PROGRAMMING
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SOLUTION OF STRAIGHT AND DUAL MULTI-EXTREMAL TASKS OF STOCHASTIC PROGRAMMING
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1314-2704
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English
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21
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7.2
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• Prof. DSc. Oleksandr Trofymchuk, UKRAINE
• Prof. Dr. hab. oec. Baiba Rivza, LATVIA |
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In this paper, a class of multi-extremal stochastic programming problems is considered. Direct and dual problems are also included in this problem, respectively, in this paper the question of the existence of solutions to such problems is studied, the necessary theorems and proofs are given. Decision making under uncertainty is based on the fact that the probabilities of various scenarios are unknown. Decision-making under risk conditions is based on the fact that each situation of the development of events can be given a probability of its implementation. This allows you to weigh each of the efficiency values and choose the situation with the lowest level of risk for implementation.
Justification and selection of specific management decisions related to financial risks is based on the concept and methodology of decision theory. This theory assumes that decisions associated with risk are always characterized by elements of uncertainty about the specific behavior of the initial parameters, which do not allow one to clearly determine the values of the final results of these decisions. Depending on the degree of uncertainty of the future behavior of the initial decision-making parameters, there are risk conditions in which the probability of occurrence of individual events affecting the final result can be established with varying degrees of accuracy, and uncertainty conditions in which, due to the lack of necessary information, such probability cannot be established. |
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conference
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21st International Multidisciplinary Scientific GeoConference SGEM 2021
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21st International Multidisciplinary Scientific GeoConference SGEM 2021, 16 - 22 August, 2021
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Proceedings Paper
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STEF92 Technology
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SGEM International Multidisciplinary Scientific GeoConference
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SWS Scholarly Society; Acad Sci Czech Republ; Latvian Acad Sci; Polish Acad Sci; Serbian Acad Sci & Arts; Natl Acad Sci Ukraine; Natl Acad Sci Armenia; Sci Council Japan; European Acad Sci, Arts & Letters; Acad Fine Arts Zagreb Croatia; Croatian Acad Sci
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877-882
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16 - 22 August, 2021
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website
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cdrom
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8207
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decision theory; mathematical optimization; mathematical programming; multi-extremal problems
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