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Restricted Bayes Strategies for Programs with Simple Recourse

Author

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  • Raymond Nadeau

    (Laval University, Quebec, Canada)

  • Radu Theodorescu

    (Laval University, Quebec, Canada)

Abstract

When using linear stochastic programs one generally assumes that the joint probability distribution of the random variables involved is known. However, in practice, for example in manpower planning problems, the knowledge of this distribution is incomplete. Consequently this paper presents a linear stochastic program with partial information, where the confidence in this joint probability distribution is expressed by a parameter varying from 0 to 1. Explicit solutions are given for programs with simple recourse.

Suggested Citation

  • Raymond Nadeau & Radu Theodorescu, 1980. "Restricted Bayes Strategies for Programs with Simple Recourse," Operations Research, INFORMS, vol. 28(3-part-ii), pages 777-784, June.
    • Handle: RePEc:inm:oropre:v:28:y:1980:i:3-part-ii:p:777-784
    DOI: 10.1287/opre.28.3.777
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