Stochastic model
type: Ontology
creation date: 2026-08-17T07:08:43+02:00
imports: http://semantic-mediawiki.org/swivt/1.0

Stochastic model
type: Subject
type: Category:Glossary
page: https://wiki.openmod-initiative.org/wiki/Stochastic_model
wiki namespace: 0
glossary definition: A stochastic model is a model which takes uncertainties of input parameters into account. Therefore stochastic models replace uncertain parameters with random variables or stochastic processes.
glossary definition: Stochastic optimisations often formulate two-stage or multi-stage decision problems. The solution of the model consists of a sequence of decisions. During the first stage the decisions are made under uncertainty, i.e. without knowledge about how the possible realisations of the uncertain parameters will develop. In the second stage new information are added, i.e. in the second decision realisations of the uncertain parameters can be included. The number of stages and the number of scenarios looked at per stage are curcial for the calculating time of the model.
glossary sources: https://www.enargus.de/pub/bscw.cgi/d3460599-2/*/*/Stochastisches%20Modell.html
glossary subterm of: Model
wiki page creation date: 2017-04-20T15:44:17Z
creation date#aux: 2457864.1557523
wiki page last editor: User:Lilly Schoen
wiki page modification date: 2017-11-09T13:43:59Z
modification date#aux: 2458067.0722106
wiki page is new: false
wiki page sort key: Stochastic model