In this paper, we characterize the relationship between the expected optimal value of a stochastic linear program and a stochastic program with recourse and the degree of uncertainty in the objective function coefficients c and the stipulation vector b. It is shown that under certain conditions...

The purpose of this paper is an analysis of how an incentive scheme and the subordinate's risk preference criterion to determine the implied risk preference criterion which is essentially used in arriving at a decision under uncertainty in a decentralized decision making situation. After...

Average variable costs are not directly defined for multiple products produced in complex production settings. An activity analysis model can be used for basic cost measurement and for building a linear programming model of manufacturing operations. The model can then be used not only to compute...