Chance Constrained and Monte Carlo Modeling

Daniel P. Loucks ()
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Daniel P. Loucks: Cornell University

Chapter Chapter 14 in Public Systems Modeling, 2022, pp 177-185 from Springer

Abstract: Abstract Constraints of models that contain random variables may be applicable only some of the time. Constraints that apply only a specified fraction of the time are called chance constraints. This chapter illustrates how chance constraints can be included in optimization models. In addition, the chapter demonstrates how to generate values of random variables fitting user defined probability distributions. These random variable values often serve as inputs to stochastic simulation models.

Date: 2022
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DOI: 10.1007/978-3-030-93986-1_14

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