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Introduction to Stochastic Optimisation and Game Theory

  • D.N.P. MurthyEmail author
  • Nat Jack
Chapter
Part of the Springer Series in Reliability Engineering book series (RELIABILITY)

Abstract

Decision problems may be classified in different ways. They may be either static or dynamic. In the static situation, decisions have to be made only once, whereas a dynamic problem involves multiple decisions over time. Decision problems may also be either deterministic or stochastic. In a deterministic problem, uncertainty is assumed to be insignificant and is ignored, whereas in a stochastic problem, the effect of uncertainty is included in the modelling, and this is done through the presence of random variables.

Keywords

Nash Equilibrium Dynamic Game Certainty Equivalent Static Game Stackelberg Game 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

References

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Copyright information

© Springer-Verlag London 2014

Authors and Affiliations

  1. 1.School of Mechanical and Mining EngineeringUniversity of QueenslandBrisbaneAustralia
  2. 2.Dundee Business SchoolUniversity of Abertay DundeeDundeeUK

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