The Optimum Solution in Operations Research

J. C. Ornea and Paul Stillson
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J. C. Ornea: Shell Development Company, Emeryville, California
Paul Stillson: Shell Development Company, Emeryville, California

Operations Research, 1960, vol. 8, issue 5, 616-629

Abstract: The concept of an “optimum” solution is defined in terms of the objective of an operations-research effort. An operational, technological, and investment objective is discussed and three separate formulations for a typical problem in the petroleum industry are developed in accordance with each approach.

Date: 1960
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Persistent link: https://EconPapers.repec.org/RePEc:inm:oropre:v:8:y:1960:i:5:p:616-629

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