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Optimisation of Production Under Uncertainty [electronic resource] : The State-Contingent Approach / by Svend Rasmussen.

By: Rasmussen, Svend [author.].
Contributor(s): SpringerLink (Online service).
Material type: materialTypeLabelBookSeries: SpringerBriefs in Economics: Publisher: Berlin, Heidelberg : Springer Berlin Heidelberg, 2011Description: VIII, 81p. 20 illus. online resource.Content type: text Media type: computer Carrier type: online resourceISBN: 9783642216862.Subject(s): Economics | Microeconomics | Economics/Management Science | Microeconomics | Production/Logistics/Supply Chain Management | Economic TheoryDDC classification: 338.5 Online resources: Click here to access online
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.
In: Springer eBooksSummary: 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.
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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.

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.

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