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Chapter 5: Convex Optimization

Chapter 5: Convex Optimization

pp. 130-173

Authors

, Boston Consulting Group, Amsterdam, , Vrije Universiteit Amsterdam, , University of Amsterdam & ORTEC, , University of Notre Dame, Indiana
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Summary

Our aim so far has been to formulate a real-life decision problem as a (mixed integer) linear optimization problem. The reason was clear: Linear functions are simple, so problems formulated with them should also be simple. However, two questions arise. First, is the world of linear functions flexible enough to model all real-life problems? Second, are MILOs the only simple problems we can solve quickly?

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