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• W1967853602 endingPage "956" @default.
• W1967853602 startingPage "943" @default.
• W1967853602 abstract "We consider the problem of bounding the expected value of a linear program (LP) containing random coefficients, with applications to solving two-stage stochastic programs. An upper bound for minimizations is derived from a restriction of an equivalent, penalty-based formulation of the primal stochastic LP, and a lower bound is obtained from a restriction of a reformulation of the dual. Our “restricted-recourse bounds” are more general and more easily computed than most other bounds because random coefficients may appear anywhere in the LP, neither independence nor boundedness of the coefficients is needed, and the bound is computed by solving a single LP or nonlinear program. Analytical examples demonstrate that the new bounds can be stronger than complementary Jensen bounds. (An upper bound is “complementary” to a lower bound, and vice versa). In computational work, we apply the bounds to a two-stage stochastic program for semiconductor manufacturing with uncertain demand and production rates." @default.
• W1967853602 created "2016-06-24" @default.
• W1967853602 creator A5015186395 @default.
• W1967853602 creator A5017144766 @default.
• W1967853602 date "1999-12-01" @default.
• W1967853602 modified "2023-10-14" @default.
• W1967853602 title "Restricted-Recourse Bounds for Stochastic Linear Programming" @default.
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• W1967853602 doi "https://doi.org/10.1287/opre.47.6.943" @default.
• W1967853602 hasPublicationYear "1999" @default.
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