Optimisation of Production Under Uncertainty - The State-Contingent Approach

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.

List of contents

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

Summary

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.

Product details

• Authors: Svend Rasmussen
• Publisher: Springer, Berlin
• Languages: English
• Product format: Paperback / Softback
• Released: 31.08.2011
• EAN: 9783642216855
• ISBN: 978-3-642-21685-5
• No. of pages: 81
• Dimensions: 156 mm x 7 mm x 237 mm
• Weight: 155 g
• Illustrations: VIII, 81 p. 20 illus.
• Series: SpringerBriefs in Economics; SpringerBriefs in Economics
• Subject: Social sciences, law, business > Business > Economics