$$\chi$$ χ -Optimal solution of single objective nonlinear optimization problem with uncertain parameters

Mrinal Jana () and Geetanjali Panda ()
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Mrinal Jana: University of Petroleum and Energy Studies
Geetanjali Panda: Indian Institute of Technology Kharagpur

OPSEARCH, 2018, vol. 55, issue 1, No 9, 165-186

Abstract: Abstract This paper addresses nonlinear optimization problem whose parameters are uncertain and lie in closed intervals. A partial ordering is introduced to define closeness between two intervals as well as two interval vectors. Existence of the solution of the model is studied using this partial ordering in case of unconstrained as well as constrained optimization problem. A variant of goal programming technique is used to develop a methodology to derive the solution. The methodology is illustrated through a numerical example. A possible application in finance is provided.

Keywords: Nonlinear programming; Interval valued function; Interval inequality; Order relation; Goal programming; 90C29; 90C31; 90C46; 90C90 (search for similar items in EconPapers)
Date: 2018
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DOI: 10.1007/s12597-017-0312-y

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