Stadtler, Hartmut; Heinrichs, Nikolai - In: OR Spectrum 46 (2024) 3, pp. 639-668
Using scenarios to model a stochastic system’s behavior poses a dilemma. While a large(r) set of scenarios usually improves the model’s accuracy, it also causes drastic increases in the model’s size and the computational effort required. Multi-period descriptive sampling (MPDS) is a new...