A Workshop on Stochastic Optimization, Tucson, Arizona; January 15-19, 1996

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Sen 9423598 The objective of this project is to hold a workshop on the subject of stochastic optimization and its applications. Stochastic optimization is a subset of the general subject area of mathematical optimization. However, unlike most optimization techniques in which the values of the parameters in the model are assumed to be known with certainty, in stochastic optimization, this is not the case. Stochastic optimization recognizes the presence of uncertainties in the values of model parameters. This is an area of optimization that attempts to capture the uncertainties that exist in modeling and solving real life problems. This workshop is aimed at providing a forum whereby researchers, industrial practitioners, and graduate students with interest in the subject area of stochastic optimization can meet to discuss current research directions and emphasis, share research results, and identify the challenges and direction for future research. Invitees to the workshop will consists of known researchers and industrial practitioners in the field. Graduate students will be invited to gain some insights on what the research needs and directions are. Stochastic Optimization has become one the fastest growing fields in mathematical programming. The growth is the results of the increasing recognition that uncertainty plays a critical role in many decision making and design environments. The various sectors in business, science, engineering, and the social sciences where stochastic optimization can be applied make the development of this subject area very critical. A better understanding of how to integrate uncertainties into decision making will significantly improve decision making processes and ultimately, the quality of life.