On Optimal Allocation of Indivisibles Under Uncertainty

Vladimir I. Norkin, Yuri M. Ermoliev and Andrzej Ruszczynski ()
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Vladimir I. Norkin: International Institute for Applied Systems Analysis, Laxenburg, Austria
Yuri M. Ermoliev: International Institute for Applied Systems Analysis, Laxenburg, Austria

Operations Research, 1998, vol. 46, issue 3, 381-395

Abstract: The optimal allocation of indivisible resources is formalized as a stochastic optimization problem involving discrete decision variables. A general stochastic search procedure is proposed, which develops the concept of the branch-and-bound method. The main idea is to process large collections of possible solutions and to devote more attention to the most promising groups. By gathering more information to reduce the uncertainty and by narrowing the search area, the optimal solution can be found with probability one. Special techniques for calculating stochastic lower and upper bounds are discussed. The results are illustrated by a computational experiment.

Keywords: Programming; integer; stochastic; Algorithms; branch-and-bound (search for similar items in EconPapers)
Date: 1998
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Citations: View citations in EconPapers (12)

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Persistent link: https://EconPapers.repec.org/RePEc:inm:oropre:v:46:y:1998:i:3:p:381-395

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