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This paper approaches the definition and properties of dynamic convex risk measures through the notion of a family of concave valuation operators satisfying certain simple and credible axioms. Exploring these in the simplest context of a…

Risk Management · Quantitative Finance 2008-12-02 A. Jobert , L. C. G. Rogers

This paper considers decentralized optimization of convex functions with mixed affine equality constraints involving both local and global variables. Constraints on global variables may vary across different nodes in the network, while…

Optimization and Control · Mathematics 2026-02-05 Demyan Yarmoshik , Nhat Trung Nguyen , Alexander Rogozin , Alexander Gasnikov

The addition of lower level integrality constraints to a bi-level linear program is known to result in significantly weaker analytical properties. Most notably, the upper level goal function in the optimistic setting lacks lower…

Optimization and Control · Mathematics 2022-12-13 Johanna Burtscheidt , Matthias Claus

Optimization problems involving sequential decisions in a stochastic environment were studied in Stochastic Programming (SP), Stochastic Optimal Control (SOC) and Markov Decision Processes (MDP). In this paper we mainly concentrate on SP…

Optimization and Control · Mathematics 2023-03-29 Guanghui Lan , Alexander Shapiro

We consider a stochastic control problem where the set of controls is not necessarily convex and the system is governed by a nonlinear backward stochastic differential equation. We establish necessary as well as sufficient conditions of…

Probability · Mathematics 2008-12-20 Seid Bahlali

In this paper we present a dynamic programing approach to stochastic optimal control problems with dynamic, time-consistent risk constraints. Constrained stochastic optimal control problems, which naturally arise when one has to consider…

Optimization and Control · Mathematics 2015-11-24 Yin-Lam Chow , Marco Pavone

In deterministic and stochastic control theory, relaxed or randomized control policies allow for versatile mathematical analysis (on continuity, compactness, convexity and approximations) to be applicable with no artificial restrictions on…

Optimization and Control · Mathematics 2024-01-04 Serdar Yüksel

This paper gives an overview of the theory of dynamic convex risk measures for random variables in discrete time setting. We summarize robust representation results of conditional convex risk measures, and we characterize various time…

Risk Management · Quantitative Finance 2010-02-22 Beatrice Acciaio , Irina Penner

Decentralized stochastic control problems with local information involve problems where multiple agents and subsystems which are coupled via dynamics and/or cost are present. Typically, however, the dynamics of such couplings is complex and…

Optimization and Control · Mathematics 2024-06-03 Zachary Selk , Serdar Yüksel

In this work, we study discrete-time Markov decision processes (MDPs) under constraints with Borel state and action spaces and where all the performance functions have the same form of the expected total reward (ETR) criterion over the…

Probability · Mathematics 2019-05-10 F. Dufour , Alexandre Genadot

Decentralized optimization is a promising parallel computation paradigm for large-scale data analytics and machine learning problems defined over a network of nodes. This paper is concerned with decentralized non-convex composite problems…

Optimization and Control · Mathematics 2021-10-05 Ran Xin , Subhro Das , Usman A. Khan , Soummya Kar

This paper considers a class of convex optimization problems where both, the objective function and the constraints, have a continuously varying dependence on time. Our goal is to develop an algorithm to track the optimal solution as it…

Optimization and Control · Mathematics 2015-10-07 Mahyar Fazlyab , Santiago Paternain , Victor M. Preciado , Alejandro Ribeiro

We consider cooperative multi-agent consensus optimization problems over both static and time-varying communication networks, where only local communications are allowed. The objective is to minimize the sum of agent-specific possibly…

Optimization and Control · Mathematics 2017-06-27 Erfan Yazdandoost Hamedani , Necdet Serhat Aybat

Distributed optimization has gained significant attention in recent years, primarily fueled by the availability of a large amount of data and privacy-preserving requirements. This paper presents a fixed-time convergent optimization…

Systems and Control · Computer Science 2022-05-30 Kunal Garg , Mayank Baranwal

In this paper, we bring the celebrated max-weight features (myopic and discrete actions) to mainstream convex optimization. Myopic actions are important in control because decisions need to be made in an online manner and without knowledge…

Optimization and Control · Mathematics 2018-03-30 Víctor Valls , Douglas J. Leith

This work develops effective distributed strategies for the solution of constrained multi-agent stochastic optimization problems with coupled parameters across the agents. In this formulation, each agent is influenced by only a subset of…

Optimization and Control · Mathematics 2019-03-15 Sulaiman A. Alghunaim , Ali H. Sayed

In Willems' behavioral systems theory, a dynamical system is identified with the set of all trajectories compatible with its laws of motion. In the linear time-invariant setting this trajectory set is a linear subspace, and its algebraic…

Optimization and Control · Mathematics 2026-05-08 Victor M. Preciado

We consider joint optimization and learning problems arising in real-time decision systems. While most existing work focuses primarily on convex, revenue-based objectives, we extend this line of research to multi-objective formulations. In…

Optimization and Control · Mathematics 2026-04-14 Zijun Li , Aswin Kannan

In this work we study the Lebesgue property for convex risk measures on the space of bounded c\`adl\`ag random processes ($\mathcal{R}^\infty$). Lebesgue property has been defined for one period convex risk measures in \cite{Jo} and earlier…

Risk Management · Quantitative Finance 2008-12-02 Hirbod Assa

We consider a cooperative multi-agent system consisting of a team of agents with decentralized information. Our focus is on the design of symmetric (i.e. identical) strategies for the agents in order to optimize a finite horizon team…

Optimization and Control · Mathematics 2023-07-17 Sagar Sudhakara , Ashutosh Nayyar