Werner Römisch is selected as the winner of the 2018 INFORMS Optimization Society Khachiyan Prize
Citation
Werner Römisch is a leader in the area of stability and sensitivity analysis of stochastic programming (SP) models. He and his co-authors have established fundamental stability results under perturbations of probability measures. He has provided characterizations of the asymptotic behavior of optimal values and solutions of optimization problems which are based on sampling, and use either empirical or other statistical estimators. These results have laid the foundation for scenario generation methods. Indeed his scheme for scenario reduction has become one of the most popular ways to address large scale multi-stage SP models, and has been incorporated within several state-of-the art solvers. In addition, he has led a research team in the application of SP models for real-scale power system operations in Germany. This combination of depth and breadth in optimization research makes Professor Römisch a truly impactful optimizer.
Selection Committee
Suvrajeet Sen (chair), Ignacio Grossmann, Arkadi Nemirovski, David Shmoys