Team selection by Portfolio Optimization

J. M. Mulvey, W. Green, C. Traub

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

Choosing a golf team from a group of eligible candidates is posed as a stochastic optimisation model. We apply portfolio theory in a quest to maximize the team's result relative to its capabilities and the competition. A trade-off exists between reward and risk as measured by the probability of achieving a designated goal. We see that quantitative tools can be combined with expert judgment of the coaching staff in order to arrive at an "optimal" solution. The techniques are applied to the Princeton University golf team.

Original languageEnglish (US)
Title of host publicationScience and Golf IV
Subtitle of host publicationProceedings of the WorId Scientific Congress of Golf
PublisherTaylor and Francis Inc.
Pages305-316
Number of pages12
ISBN (Electronic)9780203715000
ISBN (Print)9780415283021
StatePublished - Nov 12 2012

All Science Journal Classification (ASJC) codes

  • Medicine(all)

Keywords

  • Decision making under uncertainty
  • Optimisation
  • Team selection

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  • Cite this

    Mulvey, J. M., Green, W., & Traub, C. (2012). Team selection by Portfolio Optimization. In Science and Golf IV: Proceedings of the WorId Scientific Congress of Golf (pp. 305-316). Taylor and Francis Inc..