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Keywords: competitive situation
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Proceedings Papers
Decision-Making in Competitive Situations
Available to PurchasePublisher: World Petroleum Congress
Paper presented at the 7th World Petroleum Congress, April 2–9, 1967
Paper Number: WPC-12557
... competitive situations. Like others in the oil industry, we had acquired a certain facility with mathematical modeling of very complex situations, such as refinery operations and transportation networks. We were familiar with the elements of stochastic simulation which led to the decision theory of Chernoff...