Construct · 1 fields · 1 citations

value of the stochastic solution: a standalone construct

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Operations research

the expected gain from solving a stochastic program instead of using the solution of its deterministic expected-value version.

In operations research, value of the stochastic solution refers to the expected gain from solving a stochastic program instead of using the solution of its deterministic expected-value version. This meaning comes from Birge (1982) in Mathematical Programming.[1]

Unit
Recovery means
Measured by

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Nearby constructs

gain4 fields · 4 citationsjingle · one word, four constructs operation1 fields · 1 citationsanchor · a standalone construct program2 fields · 2 citationsjingle · one word, two constructs

References

Birge, J. R. (1982). The value of the stochastic solution in stochastic linear programs with fixed recourse. Mathematical Programming, 24(1), 314-325. https://doi.org/10.1007/bf01585113

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