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Stochastic programming

About: Stochastic programming is a research topic. Over the lifetime, 12343 publications have been published within this topic receiving 421049 citations.


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Journal ArticleDOI
TL;DR: In this paper, the authors propose a novel approach for the offering strategy of a virtual power plant that participates in the day-ahead and the real-time energy markets, where the uncertainty in the wind-power production and in the market prices using confidence bounds and scenarios, respectively, allows them to formul-ate the strategic offering problem as a stochastic adaptive robust optimization model.
Abstract: This paper proposes a novel approach for the offering strategy of a virtual power plant that participates in the day-ahead and the real-time energy markets. The virtual power plant comprises a conventional power plant, a wind-power unit, a storage facility, and flexible demands, which participate in the day-ahead and the real-time markets as a single entity in order to optimize their energy resources. We model the uncertainty in the wind-power production and in the market prices using confidence bounds and scenarios, respectively, which allows us to formul-ate the strategic offering problem as a stochastic adaptive robust optimization model. Results of a case study are provided to show the applicability of the proposed approach.

132 citations

Journal ArticleDOI
TL;DR: The paper surveys the basic results and nonresults for decision rules in stochastic programming and exhibits some of the difficulties encountered when trying to restrict the class of acceptable rules to those possessing specific functional forms.
Abstract: The paper surveys the basic results and nonresults for decision rules in stochastic programming. It exhibits some of the difficulties encountered when trying to restrict the class of acceptable rules to those possessing specific functional forms. A liberal dosage of examples is provided which illustrate various cases. The treatment is unified by making use of the equivalence of various formulations which have appeared in the literature. An appendix is devoted to the P-model for stochastic programs with chance constraints.

132 citations

Journal ArticleDOI
01 Feb 2013-Energy
TL;DR: In this article, a multi-objective particle swarm optimization algorithm is applied to obtain the best expected solutions for the proposed stochastic programming framework, and fuzzy adaptive technique, θ-search and self-adaptive learning strategy for velocity updating are used to tune the inertia weight factor and to escape from local optima, respectively.

132 citations

Journal ArticleDOI
TL;DR: This paper provides a methodology for supply chain network (SCN) design under uncertainty, which recognizes three event types to characterize the future SCN environment: random, hazardous and deep uncertainty events.
Abstract: This paper provides a methodology for supply chain network (SCN) design under uncertainty. The problem is initially casted as a two-level organizational decision process: the design decisions must be made here and now, but the reengineered SCN can be used for daily operations only after an implementation period. The network structure can also be adapted during the planning horizon considered. When making the design decisions, the operational response and structural adaptation decisions taking place during the planning horizon must be anticipated. The methodology recognizes three event types to characterize the future SCN environment: random, hazardous and deep uncertainty events. At the design time, plausible futures are anticipated through a scenario planning approach. Several Monte Carlo scenario samples are generated and corresponding sample average approximation programs are solved in order to produce a set of alternative designs. A multi-criteria design evaluation approach is then applied to select the most effective and robust design among candidate solutions. An illustrative case, based on the location---transportation problem, is finally introduced to illustrate the approach, and computational experiments are performed to demonstrate its feasibility.

132 citations

Journal ArticleDOI
TL;DR: In this paper, a methodology to build offering curves for a concentrating solar power plant is provided, which takes into account the uncertainty in the thermal production from the solar field and the volatility of market prices.

131 citations


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Performance
Metrics
No. of papers in the topic in previous years
YearPapers
2023175
2022423
2021526
2020598
2019578
2018532