In this paper, we analyze a generalization of a classic network-flow model. The generalization involves the replacement of deterministic demand with stochastic demand. While this generalization ...

In this paper, we introduce an approach for constructing uncertainty sets for robust optimization using new deviation measures for random variables termed the forward and backward deviations. These ...

Stochastic programming methods can be applied to portfolio optimization in the context of pension fund management. In this paper we apply stochastic programming wherein the allocations are found among ...

Natural rock fractures are characterized by highly irregular rough walls, which are best modeled as spatially correlated random surfaces. This leads to a description of fractures, wherein the fracture ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Daily flow data for the Usk River in Wales was simulated using a nonparametric bootstrap procedure that captures autocorrelation called k-nearest neighbor (k-NN) (Lall and Sharma, 1996). The objective ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Dr. JeFreda R. Brown is a financial consultant, Certified Financial Education ...