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A Practical Guide to Robust Optimization

Author: Bram L. Gorissen, Ihsan Yanıkoğlu, Dick den Hertog
Url: http://arxiv.org/abs/1501.02634
Format: Pdf
Year: 2015
Category: Optimization
Pages: 30
Clicks: 398

Robust optimization is a young and active research field that has been mainly developed in the last 15 years. Robust optimization is very useful for practice, since it is tailored to the information at hand, and it leads to computationally tractable formulations. It is therefore remarkable that real-life applications of robust optimization are still lagging behind; there is much more potential for real-life applications than has been exploited hitherto. The aim of this paper is to help practitioners to understand robust optimization and to successfully apply it in practice. We provide a brief introduction to robust optimization, and also describe important do's and don'ts for using it in practice. We use many small examples to illustrate our discussions.

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