Chance-Constrained Programming

@article{Charnes1959ChanceConstrainedP,
  title={Chance-Constrained Programming},
  author={Abraham Charnes and William W. Cooper},
  journal={Management Science},
  year={1959},
  volume={6},
  pages={73-79}
}
A new conceptual and analytical vehicle for problems of temporal planning under uncertainty, involving determination of optimal sequential stochastic decision rules is defined and illustrated by means of a typical industrial example. The paper presents a method of attack which splits the problem into two non-linear or linear programming parts, i determining optimal probability distributions, ii approximating the optimal distributions as closely as possible by decision rules of prescribed form. 
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References

Cost Horizons and Certainty Equivalents: An Approach to Stochastic Programming of Heating Oil
Scheduling heating oil production is an important management problem. It is also a complex one. Weather and demand uncertainties, allocation of production between different refineries, joint-and