Encyclopedia of Operations Research and Management Science

2001 Edition
| Editors: Saul I. Gass, Carl M. Harris

Computational probability

Reference work entry
DOI: https://doi.org/10.1007/1-4020-0611-X_144

Broadly defined, computational probability is the computer-based analysis of stochastic models with a special focus on algorithmic development and computational efficacy. The computer and information revolution has made it easy for stochastic modelers to build more realistic models even if they are large and seemingly complex. Computational probability is not just concerned with questions raised by the numerical computation of existing analytic solutions and the exploitation of standard probabilistic properties. It is the additional concern of the probabilist, however, to ensure that the solutions obtained are in the best and most natural form for numerical computation. Before the advent of modern computing, much effort was directed at obtaining insight into the behavior of formal models, while avoiding computation. On the other hand, the early difficulty of computation has allowed the development of a large number of formal solutions from which limited qualitative conclusions may be...

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Copyright information

© Kluwer Academic Publishers 2001

Authors and Affiliations

  1. 1.Robert H. Smith School of BusinessUniversity of MarylandCollege PartUSA
  2. 2.School of Information Technology & EngineeringGeorge Mason UniversityFairfaxUSA