Seminar: Time Consistency in Multistage Stochastic Optimization
Title: Time Consistency in Multistage Stochastic OptimizationSpeaker: Prof. Georg PflugAffiliation: Department of Statistics and Operations Research - University of Vienna Location: CPSE seminar room (C615 Roderic Hill)Time: 11:00amAbstract. A fundamental principle for dynamic optimization is Bellman's priciple, stating that at any initially optimal decision sequence is also optimal at later stages. This time-consistency principle is... Read more »