Highly Influenced

@inproceedings{Swamy2006AlgorithmsC, title={Algorithms Column : Approximation Algorithms for 2-Stage Stochastic Optimization Problems}, author={Chaitanya Swamy and David B. Shmoys}, year={2006} }

- Published 2006

Uncertainty is a facet of many decision environments and might arise for various reasons, such as unpredictable information revealed in the future, or inherent fluctuations caused by noise. Stochastic optimization provides a means to handle uncertainty by modeling it by a probability distribution over possible realizations of the actual data, called scenarios. The field of stochastic optimization, or stochastic programming, has its roots in the work of Dantzig [4] and Beale [1] in the 1950sâ€¦Â CONTINUE READING

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