Abstract
In recent years, stochastic orders in general and stochastic convexity in particular have been demonstrated as playing a central role in the optimal design and control of stochastic systems (refer to the wide-ranging applications presented in a recent monograph by Shaked and Shanthikumar [16]; also, refer to Shaked and Shanthikumar [15] and Shanthikumar and Yao [17], among many others). A somewhat less known but equally useful property, stochastic submodularity, and its many applications have been illustrated in Chang and Yao [4] and in Chang, Shanthikumar, and Yao [5].
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Yao, D.D., Zheng, S. (1999). Optimality of Sequential Quality Control via Stochastic Orders. In: Shanthikumar, J.G., Sumita, U. (eds) Applied Probability and Stochastic Processes. International Series in Operations Research & Management Science, vol 19. Springer, Boston, MA. https://doi.org/10.1007/978-1-4615-5191-1_10
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DOI: https://doi.org/10.1007/978-1-4615-5191-1_10
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