The recycling of urban solid wastes is a critical point for the “closing supply chains” of many products, mainly when their value cannot be completely recovered after use. In addition to environmental aspects, the process of recycling involves technical, economic, social and political...

Inspired by the successful applications of the stochastic optimization with second order stochastic dominance (SSD) model in portfolio optimization, we study new numerical methods for a general SSD model where the underlying functions are not necessarily linear. Specifically, we penalize the SSD...

Electricity systems models are software tools used to manage electricity demand and the electricity systems, to trade electricity and for generation expansion planning purposes. Various portfolios and scenarios are modelled in order to compare the effects of decision making in policy and on...

Investments in power generation, pollution controls, and electricity end use equipment are made in the face of uncertainty. Unanticipated events can cause regret—commitments that in retrospect were the wrong choices. We analyze how three uncertainties—electricity demand growth, natural gas...

Purpose –This paper aims to use a risk management approach for re-profiling of sovereign debt. It develops profiles that trade off expected cost of financing alternative debt structures against their risk. The risk profiles are particularly informative for countries facing sovereign debt...

This book shows the breadth and depth of stochastic programming applications. All the papers presented here involve optimization over the scenarios that represent possible future outcomes of the uncertainty problems. The applications, which were presented at the 12th International Conference on...

This paper presents a stochastic programming framework for solving the scheduling problem faced by an industrial customer with cogeneration facilities, conventional power production system, and heat only units. The power and heat demands of the customer are supplied considering demand response...

Emergency supply chain management is often in the focal point of public scrutiny. Expected cost minimization may result in unacceptable high shortage for scenarios with small probabilities that is hardly tolerated by the public. To decrease the loss for the worst-case scenario, the min–max...

This paper investigates how uncertainties related to natural gas prices and potential climate policies may influence capacity investments, utilization, and emissions in US electricity markets. Using a two-stage stochastic programming approach, model results suggest that climate policies are...

The strategic design of a robust supply chain has to determine the configuration of the supply chain so that its performance remains of a consistently high quality for all possible future conditions. The current modeling techniques often only consider either the efficiency or the risk of the...