Lecture 5: Uncertainty and Linear Programs

Name: Lecture 5: Uncertainty and Linear Programs
Uploaded: 2022-08-31T20:12:35Z
Duration: 1 h 8 s
Description: Farmers in medieval villages faced the risk of starvation and took great pains to diversify that risk as best they could, farming long narrow strips of land. There were also gains from pooling risk across distant villages. Surprisingly, such problems can be formalized with lotteries. Linear program problems capture this and a wide variety of applications.

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Farmers in medieval villages faced the risk of starvation and took great pains to diversify that risk as best they could, farming long narrow strips of land. There were also gains from pooling risk across distant villages. Surprisingly, such problems can be formalized with lotteries. Linear program problems capture this and a wide variety of applications.