This new book collects 10 expert-authored chapters examining a variety of stochastic systems, approaches, methods and evaluations. In the first part, stochastic modelling and control topics are considered. Chapters range widely across subjects including stochastic control for jump diffusions, parameter estimation, and geometrical derivation of equilibrium distributions. Applications considered include stochastic simulation for acoustics optimization in a multimedia classroom, and discrete-time stochastic epidemic modelling. In the second part, authors present studies of topics connected with stochastic optimization, with a strong focus on practical applications and case studies. These topics include stochastic optimization of the design and placement of piezoelectric actuators, highway transportation project evaluation, design of complex distillation configurations, and modelling of phase equilibrium in non-reactive systems. The practical focus of this book on real-world problems and applications ensures it will appeal to researchers, professionals and students interested in how stochastic modelling and control can offer a range of optimization solutions.
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