Back to Search Start Over

BLAU'S DILEMMA REVISITED.

Authors :
Nau, Robert F.
Source :
Management Science; Oct87, Vol. 33 Issue 10, p1232-1237, 6p
Publication Year :
1987

Abstract

The issue of equivalence between chance-constrained programming problems (CCPP's) and Bayesian utility-maximization problems (BUMP's), and the anomalous evaluation of information in CCPP's, are re-examined in light of a recent paper by Jagannathan and the ensuing exchange between Jagannathan and LaValle. Difficulties in "explaining" value of information within the framework of chance-constrained programming are illustrated in a numerical example due to Jagannathan. [ABSTRACT FROM AUTHOR]

Subjects

Subjects :
BAYESIAN analysis
STATISTICAL decision making
MATHEMATICAL programming
MATHEMATICAL analysis
NUMERICAL analysis
OPERATIONS research
MATHEMATICAL optimization
FUNCTIONAL equations
UTILITY functions

Details

Language :
English
ISSN :
00251909
Volume :
33
Issue :
10
Database :
Complementary Index
Journal :
Management Science
Publication Type :
Academic Journal
Accession number :
7161360
Full Text :
https://doi.org/10.1287/mnsc.33.10.1232
Full Text Access
View/download PDF

Tools

Authors Abstract Subjects Details