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Intelligent Modeling Essential to Get Good Results

In: Optimization for Decision Making

Author

Listed:
  • Katta G. Murty

    (University of Michigan
    King Fahd University of Petroleum and Minerals)

Abstract

Operations Research/Management Science (OR/MS) theory has developed efficient algorithms for solving some single-objective optimization models that are highly structured. In real-world applications, decision problems tend to have many complex features, uncertainty influencing many important aspects, and several other complications. Constructing a mathematical model to find an optimum decision in such problems is often a very difficult task that requires a lot of skill. The trouble is that none of the models discussed in OR theory may fit perfectly the problem you need to solve. As Wolfram (2002) suggests “… the idea of describing behavior in terms of mathematical equations works well where the behavior is fairly simple. It almost inevitably fails whenever the behavior is more complex.”

Suggested Citation

  • Katta G. Murty, 2010. "Intelligent Modeling Essential to Get Good Results," International Series in Operations Research & Management Science, in: Optimization for Decision Making, chapter 0, pages 127-166, Springer.
    • Handle: RePEc:spr:isochp:978-1-4419-1291-6_3
    DOI: 10.1007/978-1-4419-1291-6_3
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