In this paper we give an overview of Operational Research (OR) in Icel
and, which presents a situation different from most European countries
. Four aspects of the situation affect how OR is used in Iceland: the
country's small population (260 000) and isolated location in the midd
le of the Atlantic, the fact that fish and fish products constitute 75
% of the nation's exports, the volatile economy and finally the fact t
hat a relatively high percentage of the population has gained a second
university degree abroad.