Acta Oeconomica Pragensia 2005, 13(1):119-127 | DOI: 10.18267/j.aop.143

Multistage Stochastic Decision and Economic Processes

Vlasta Kaňková
RNDr. Vlasta Kaňková, CSc. - research fellow; Department of Econometrics, Institute of Information Theory and Automation of the Academy of Sciences of the Czech Republic, Pod Vodárenskou věží 4, 182 08 Prague 8, Czech Republic, kankova@utia.cas.cz

Economic and social phenomena develop over time, they are mostly influenced by random factors and, moreover, it is very often necessary to evaluate them simultaneously by several "objective" functions. Multistage stochastic programming problems, control Markov chains, empirical processes as well as stochastic multiobjective problems can serve to model them. We focus to cases that can be treated by multistage stochastic programming models with Markov type of dependence.

Keywords: economic processes, multistage stochastic programming, Markov dependence
JEL classification: C44

Published: March 1, 2005  Show citation

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Kaňková, V. (2005). Multistage Stochastic Decision and Economic Processes. Acta Oeconomica Pragensia, 13(1), 119-127. doi: 10.18267/j.aop.143
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