Optimisation of Production Under Uncertainty: The State-Contingent Approach

ISBN-13: 9783642216855 / Angielski / Miękka / 2011 / 81 str.

Svend Rasmussen

Opis

Provides a short review of the classical approach to planning and decision making under uncertainty. This book explains the concept of state-contingent goods, describing production under uncertainty to the problems involved in optimising production under uncertainty.

Spis treści

Preface.- 1 Introduction.- 2 Decision Theory Elements.- 3 Utility Function.- 4 State-Contingent Outcome and Preference.- 5 Preferences and Subjective Probabilities.- 6 Formulation of the Decision Problem.- 7 Connections Between Input and State-Contingent Output.- 8 Optimising Production Under Uncertainty.- 9 Summary and Conclusion.- References

Blurb

The book provides a short review of the classical approach to planning and decision making under uncertainty. It further explains the concept of state-contingent goods, and it extends earlier work on the state-contingent approach to describing production under uncertainty to the problems involved in optimising production under uncertainty.