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Solving Discrete Optimization Problems when Element Costs are Random

Prof. Diptesh Ghosh and Shubhabrata Das
2000
Working Paper No
157
Body

In a general class of discrete optimization problems with min-sum objective function, some of the elements may have random costs associated with them. In such a situation, the notion of optimality needs to be suitably modified. We define an optimal solution to be a feasible solution with the minimum risk. It is shown that the knowledge of the means of these random costs is enough to reduce such a problem into one with no random costs.

Key words
Discrete Optimization
wp.iimb_.157.pdf (752.41 KB)

Solving Discrete Optimization Problems when Element Costs are Random

Author(s) Name: Prof. Diptesh Ghosh and Shubhabrata Das, 2000
Working Paper No : 157
Abstract:

In a general class of discrete optimization problems with min-sum objective function, some of the elements may have random costs associated with them. In such a situation, the notion of optimality needs to be suitably modified. We define an optimal solution to be a feasible solution with the minimum risk. It is shown that the knowledge of the means of these random costs is enough to reduce such a problem into one with no random costs.

Keywords: Discrete Optimization
wp.iimb_.157.pdf (752.41 KB)