Stein W. Wallace on board under EURO
NHH Professor Stein W. Wallace was just elected member of the Board for the EURO Working Group on Stochastic Programming.
This is a technical working group under EURO, the Association of European Operational Research Societies, where Norway just joined - under the leadership of Stein W. Wallace. He was also part of the group that initiated the working group some years back.
Stochastic Programming is an active research area having important real-world applications, and close links with other branches of Operational Research. Stochastic Programming research focuses on the formulation and solution of stochastic optimization problems, i.e., optimization problems whose parameters are random variables. The fact that every strategic decision is made in the presence of uncertainty is a clear evidence for the practical importance of Stochastic Programming. Important fields of application are energy and water management, and finance. Emerging ones are healthcare, agriculture and sustainable development.