In this introductory chapter we discuss some basic approaches to modeling of stochastic
optimization problems. We start with motivating examples and then proceed to formulation of …

Publisher Summary According to the US Department of Transportation (US DOT), a
hazardous material is defined as any substance or material capable of causing harm to …

This is a substantial revision of the previous edition with added new material. The
presentation of Chapter 6 is updated. In particular the Interchangeability Principle for risk …

Current LLM alignment techniques use pairwise human preferences at a sample level, and
as such, they do not imply an alignment on the distributional level. We propose in this paper …

This book is an introduction to financial mathematics. It is intended for graduate students in
mathematics and for researchers working in academia and industry. The focus on stochastic …

CMS/CAIMS Books in Mathematics is a collection of monographs and graduatelevel
textbooks published in cooperation jointly with the Canadian Mathematical Society-Societé …

This paper deals with the optimal selection and protection of part suppliers and order
quantity allocation in a supply chain with disruption risks. The protection decisions include …

Traditional two-stage stochastic programming is risk-neutral; that is, it considers the
expectation as the preference criterion while comparing the random variables (eg, total cost) …

This paper considers the worst-case Conditional Value-at-Risk (CVaR) in the situation
where only partial information on the underlying probability distribution is available. The …

Disasters such as fires, earthquakes, and floods cause severe casualties and enormous
economic losses. One effective method to reduce these losses is to construct a disaster relief …