In 2004, the Basel Committee on Banking Supervision defined Operational Risk (OR) as the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events. After publication of the new capital accord containing this dfinition, statistical properties...

Many practical optimization problems are characterized by some flexibility in the problem constraints, where this flexibility can be exploited for additional trade-off between improving the objective function and satisfying the constraints. Especially in decision making, this type of flexibility...