The OMDS/BALOR Talk Series invites you to a seminar talk in June 2025:
- Speaker: Mike Hewitt (Professor; Ralph Marotta Endowed Chair in Free Enterprise; Director, Quinlan Business Leadership Hub; Faculty Director, Supply Chain and Sustainability Center; Quinlan School of Business, Loyola University Chicago)
- Title: The L-Shaped Method for Stochastic Programs with Decision-Dependent Uncertainty
- Time: Wednesday, June 4, 2025, 15:30
- Location: Seminar Room 5 (1-floor), Oskar-Morgenstern-Platz 1
- Abstract: We extend the well-known L-Shaped method to solve two-stage stochastic programming problems with decision-dependent uncertainty. The method is based on a novel, unifying, formulation and on distribution-specific optimality and feasibility cuts for both linear and integer stochastic programs. We also illustrate techniques for generating cuts that are distribution-independent. Extensive tests on three production planning problems illustrate that the method is extremely effective on large-scale instances.
