ASP, The Art and Science of Practice: A (Very) Short Course in Suboptimization

Jeffrey D. Camm ()
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Jeffrey D. Camm: Department of Operations, Business Analytics and Information Systems, Lindner College of Business, University of Cincinnati, Cincinnati, Ohio 45221

Interfaces, 2014, vol. 44, issue 4, 428-431

Abstract: Sometimes being suboptimal is best. Cuts to the unit hypercube, as Balas and Jeroslow discuss [Balas E, Jeroslow R (1972) Canonical cuts on the unit hypercube. SIAM J. Appl. Math. 23(1):61–69], provide a simple approach to generating alternative optima and (or) providing a family of suboptimal solutions for one’s clients to consider. In this paper, I discuss how to generate useful suboptimal solutions using Balas and Jeroslow’s cuts to the unit hypercube and why clients are willing to pay for them.

Keywords: applications; integer; programming; philosophy of modeling (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:inm:orinte:v:44:y:2014:i:4:p:428-431

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