An agricultural investment problem subject to probabilistic constraints

• Published in: Computational management science Vol. 19; no. 4; pp. 683 - 701
• Main Authors: El Karfi, Kawtar, Henrion, René, Mentagui, Driss
• Format: Journal Article
• Language: English
• Published: Berlin/Heidelberg Springer Berlin Heidelberg 01.10.2022; Springer Nature B.V
• Subjects: Agricultural production; Agriculture; Business and Management; Cereals; Constraints; Costs; Decision making; Harvest; Irrigation; Normal distribution; Operations Research/Decision Theory; Optimization; Original Paper; Random variables; Statistical analysis; Reservoir management; Optimization with chance constraints; 90B05; 90C15; Probabilistic constraints; Agricultural investment

Motivated by a model introduced by Moiseev, we consider a problem of optimal investment into agricultural infrastructure (irrigation, storage) under uncertainty (demand, yield coefficients of soil). Unlike the risk-neutral approach of Moiseev, we formulate a risk-averse model based on joint probabil...