Communications to the Editor--Comment on the Fractile Approach to Linear Programming under Risk

Peter B. R. Hazell
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Peter B. R. Hazell: New York State College of Agriculture, Cornell University, Ithaca, New York 14850

Management Science, 1970, vol. 17, issue 3, 236-237

Abstract: Sengupta and Portillo-Campbell have recently proposed a fractile decision criterion for risk situations as an alternative to the expected value and E-V criteria [Sengupta, J. K., J. H. Portillo-Campbell. 1970. A fractile approach to linear programming under risk. Management Sci. 16(5, January) 298-308.]. The fractile model seems to add little to the current literature on risk programming models under normality assumptions except to provide a direct solution procedure for identification of a specific solution in a Baumol efficient E-L set.

Date: 1970
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