Linear optimal designs and optimal contingency plans

Linear optimal designs and optimal contingency plans

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Article ID: iaor1991783
Country: United States
Volume: 36
Issue: 9
Start Page Number: 1106
End Page Number: 1119
Publication Date: Sep 1990
Journal: Management Science
Authors: , ,
Keywords: decision theory, programming: multiple criteria
Abstract:

In optimal design problems the authors try to select a subset from the opportunity set for commitment for a period of time. As the external parameters can vary with time, optimal contingency plans must be constructed to cope with the external conditions. The authors describe the formulation and methods for locating potentially good designs and their corresponding optimal contingency plans using a multiple-criteria and multiple-constraint level (MC2) simplex method to solve the optimal design problems which have been shown to become amenable to the techniques of decision making under uncertainty.

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