Stochastic network design

Speaker: Stein W. Wallace, Department of Business and Management Science, NHH


Abstract: This talk focuses on whether or not it is important to include operational uncertainty in network design models, or if the handling of uncertainty can be postponed to the operational stage of decision-making. The focus will be on understanding how optimal solutions from stochastic network design models differ from their deterministic counterparts (where random variables are replaced by their means), and to what extent these differences can teach us something about operational flexibility. Finally we ask: If a deterministic solution is really bad in a random environment, can it still be useful?

NB:  Mat og drikke vil bli servert før seminaret utanfor det store auditoriumet.