We consider modification of the recourse data, consisting of the second-stage parameters and the underlying distribution, as an approximation technique for solving two-stage recourse problems. This approach is applied to several specific classes of mixed-integer recourse problems; in each case, the resulting recourse problem is much easier to solve.

We consider modification of the recourse data, consisting of the second-stage parameters and the underlying distribution, as an approximation technique for solving two-stage recourse problems. This approach is applied to several specific classes of recourse problems; in each case, the resulting recourse problem is much easier to solve. Modification of recourse data is shown to be the common pri...

Following the Winner’s Curse and the Optimizer’s Curse, this paper introduces the Satisficer’s Curse. The Winner’s Curse requires competition between agents in an auction for, usually, a common-value item; the recently named Optimizer’s Curse is a systematic overvaluation when the decision maker is choosing the highest valued prospect of a set of uncertain future outcomes. The Satisficer’s Curs...

Stochastic integer programs are notoriously difficult. Very few properties are known and solution algorithms are very scarce. In this paper, we introduce the class of stochastic programs with simple integer recourse, a natural extension of the simple recourse case extensively studied in stochastic continuous programs. Analytical as well as computational properties of the expected recourse funct...