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This textbook for students and practitioners presents a practical approach to decomposition techniques in optimization. It provides an appropriate blend of theoretical background and practical applications in engineering and science, which makes the book interesting for practitioners, as well as engineering, operations research and applied economics graduate and postgraduate students. "Decomposition Techniques in Mathematical Programming" is based on clarifying, illustrative and computational examples and applications from electrical, mechanical, energy and civil engineering as well as applied mathematics and economics. It addresses decomposition in linear programming, mixed-integer linear programming, nonlinear programming, and mixed-integer nonlinear programming, and provides rigorous decomposition algorithms as well as heuristic ones. Practical applications are developed up to working algorithms that can be readily used. The theoretical background of the book is deep enough to be of interest to applied mathematicians. It includes end of chapter exercises and the solutions to the even numbered exercises are included as an appendix.
Decomposition (Mathematics) --- Programming (Mathematics) --- Engineering mathematics. --- Engineering --- Engineering analysis --- Mathematical analysis --- Mathematics --- Mathematical programming --- Goal programming --- Algorithms --- Functional equations --- Mathematical optimization --- Operations research --- Probabilities --- Operations research. --- Mathematics. --- Mathematical and Computational Engineering. --- Operations Research, Management Science. --- Operations Research/Decision Theory. --- Applications of Mathematics. --- Math --- Science --- Operational analysis --- Operational research --- Industrial engineering --- Management science --- Research --- System theory --- Applied mathematics. --- Management science. --- Decision making. --- Deciding --- Decision (Psychology) --- Decision analysis --- Decision processes --- Making decisions --- Management --- Management decisions --- Choice (Psychology) --- Problem solving --- Quantitative business analysis --- Statistical decision --- Decision making
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This textbook covers the fundamentals of optimization, including linear, mixed-integer linear, nonlinear, and dynamic optimization techniques, with a clear engineering focus. It carefully describes classical optimization models and algorithms using an engineering problem-solving perspective, and emphasizes modeling issues using many real-world examples related to a variety of application areas. Providing an appropriate blend of practical applications and optimization theory makes the text useful to both practitioners and students, and gives the reader a good sense of the power of optimization and the potential difficulties in applying optimization to modeling real-world systems. The book is intended for undergraduate and graduate-level teaching in industrial engineering and other engineering specialties. It is also of use to industry practitioners, due to the inclusion of real-world applications, opening the door to advanced courses on both modeling and algorithm development within the industrial engineering and operations research fields.
Mathematics. --- Mathematical optimization. --- Industrial engineering. --- Production engineering. --- Optimization. --- Industrial and Production Engineering. --- Management engineering --- Simplification in industry --- Engineering --- Value analysis (Cost control) --- Optimization (Mathematics) --- Optimization techniques --- Optimization theory --- Systems optimization --- Mathematical analysis --- Maxima and minima --- Operations research --- Simulation methods --- System analysis --- Engineering mathematics. --- Manufacturing engineering --- Process engineering --- Industrial engineering --- Mechanical engineering --- Engineering analysis --- Mathematics
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This textbook provides a detailed description of operation problems in power systems, including power system modeling, power system steady-state operations, power system state estimation, and electricity markets. The book provides an appropriate blend of theoretical background and practical applications, which are developed as working algorithms, coded in Octave (or Matlab) and GAMS environments. This feature strengthens the usefulness of the book for both students and practitioners. Students will gain an insightful understanding of current power system operation problems in engineering, including: (i) the formulation of decision-making models, (ii) the familiarization with efficient solution algorithms for such models, and (iii) insights into these problems through the detailed analysis of numerous illustrative examples. The authors use a modern, “building-block” approach to solving complex problems, making the topic accessible to students with limited background in power systems. Solved examples are used to introduce new concepts and each chapter ends with a set of exercises.
Engineering. --- Energy policy. --- Energy and state. --- Energy systems. --- Power electronics. --- Power Electronics, Electrical Machines and Networks. --- Energy Systems. --- Energy Policy, Economics and Management. --- Production of electric energy or. --- Energy and state --- Power resources --- State and energy --- Industrial policy --- Energy conservation --- Electronics, Power --- Electric power --- Electronics --- Government policy
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Robust optimization. --- Electrical engineering --- Electric utilities. --- Mathematical models. --- Electric companies --- Electric light and power industry --- Electric power industry --- Electric industries --- Energy industries --- Public utilities --- Electric engineering --- Engineering --- Optimization, Robust --- RO (Robust optimization) --- Mathematical optimization
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Decision Making Under Uncertainty in Electricity Markets provides models and procedures to be used by electricity market agents to make informed decisions under uncertainty. These procedures rely on well established stochastic programming models, which make them efficient and robust. Particularly, these techniques allow electricity producers to derive offering strategies for the pool and contracting decisions in the futures market. Retailers use these techniques to derive selling prices to clients and energy procurement strategies through the pool, the futures market and bilateral contracting. Using the proposed models, consumers can derive the best energy procurement strategies using the available trading floors. The market operator can use the techniques proposed in this book to clear simultaneously energy and reserve markets promoting efficiency and equity. The techniques described in this book are of interest for professionals working on energy markets, and for graduate students in power engineering, applied mathematics, applied economics, and operations research.
Electric utilities -- Management. --- Electric utilities. --- Electric Utilities --- Energy industries --- Decision making --- Business & Economics --- Management --- Management Theory --- Industries --- Mathematical models --- Finance --- Risk management --- Electric utilities --- Decision making. --- Electric companies --- Electric light and power industry --- Electric power industry --- Deciding --- Decision (Psychology) --- Decision analysis --- Decision processes --- Making decisions --- Management decisions --- Business. --- Operations research. --- Management science. --- Power electronics. --- Macroeconomics. --- Business and Management. --- Operation Research/Decision Theory. --- Power Electronics, Electrical Machines and Networks. --- Macroeconomics/Monetary Economics//Financial Economics. --- Operations Research, Management Science. --- Choice (Psychology) --- Problem solving --- Electric industries --- Public utilities --- Production of electric energy or. --- Operations Research/Decision Theory. --- Economics --- Operational analysis --- Operational research --- Industrial engineering --- Management science --- Research --- System theory --- Quantitative business analysis --- Operations research --- Statistical decision --- Electronics, Power --- Electric power --- Electronics --- Production of electric energy or power
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This addition to the ISOR series introduces complementarity models in a straightforward and approachable manner and uses them to carry out an in-depth analysis of energy markets, including formulation issues and solution techniques. In a nutshell, complementarity models generalize: a. optimization problems via their Karush-Kuhn-Tucker conditions b. non-cooperative games in which each player may be solving a separate but related optimization problem with potentially overall system constraints (e.g., market-clearing conditions) c. economic and engineering problems that aren’t specifically derived from optimization problems (e.g., spatial price equilibria) d. problems in which both primal and dual variables (prices) appear in the original formulation (e.g., The National Energy Modeling System (NEMS) or its precursor, PIES). As such, complementarity models are a very general and flexible modeling format. A natural question is why concentrate on energy markets for this complementarity approach? As it turns out, energy or other markets that have game theoretic aspects are best modeled by complementarity problems. The reason is that the traditional perfect competition approach no longer applies due to deregulation and restructuring of these markets and thus the corresponding optimization problems may no longer hold. Also, in some instances it is important in the original model formulation to involve both primal variables (e.g., production) as well as dual variables (e.g., market prices) for public and private sector energy planning. Traditional optimization problems can not directly handle this mixing of primal and dual variables but complementarity models can and this makes them all that more effective for decision-makers.
Commodity exchanges -- Computer simulation. --- Electric utilities -- Finance -- Computer simulation. --- Energy resources. --- Power resources. --- Commodity exchanges --- Power resources --- Management --- Finance --- Business & Economics --- Investment & Speculation --- Management Theory --- Computer simulation --- Computer simulation. --- Energy --- Energy resources --- Power supply --- Commodities exchange --- Commodity markets --- Exchanges, Commodity --- Exchanges, Produce --- Produce exchanges --- Business. --- Operations research. --- Decision making. --- Management science. --- Macroeconomics. --- Business and Management. --- Operation Research/Decision Theory. --- Macroeconomics/Monetary Economics//Financial Economics. --- Operations Research, Management Science. --- Natural resources --- Energy harvesting --- Energy industries --- Futures market --- Commercial products --- Produce trade --- Speculation --- Operations Research/Decision Theory. --- Economics --- Operational analysis --- Operational research --- Industrial engineering --- Management science --- Research --- System theory --- Economics. --- Finance. --- Quantitative business analysis --- Problem solving --- Operations research --- Statistical decision --- Deciding --- Decision (Psychology) --- Decision analysis --- Decision processes --- Making decisions --- Management decisions --- Choice (Psychology) --- Decision making --- Commodity exchanges - Computer simulation
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Microeconomics. --- Electric industries. --- Electric utilities --- Costs. --- Price theory --- Economics --- Electric power --- Industries --- Costs
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This addition to the ISOR series addresses the analytics of the operations of electric energy systems with increasing penetration of stochastic renewable production facilities, such as wind- and solar-based generation units. As stochastic renewable production units become ubiquitous throughout electric energy systems, an increasing level of flexible backup provided by non-stochastic units and other system agents is needed if supply security and quality are to be maintained. Within the context above, this book provides up-to-date analytical tools to address challenging operational problems such as: • The modeling and forecasting of stochastic renewable power production. • The characterization of the impact of renewable production on market outcomes. • The clearing of electricity markets with high penetration of stochastic renewable units. • The development of mechanisms to counteract the variability and unpredictability of stochastic renewable units so that supply security is not at risk. • The trading of the electric energy produced by stochastic renewable producers. • The association of a number of electricity production facilities, stochastic and others, to increase their competitive edge in the electricity market. • The development of procedures to enable demand response and to facilitate the integration of stochastic renewable units. This book is written in a modular and tutorial manner and includes many illustrative examples to facilitate its comprehension. It is intended for advanced undergraduate and graduate students in the fields of electric energy systems, applied mathematics and economics. Practitioners in the electric energy sector will benefit as well from the concepts and techniques explained in this book.
Economics. --- Production of electric energy or power. --- Operations research. --- Economics/Management Science. --- Operation Research/Decision Theory. --- Power Electronics, Electrical Machines and Networks. --- Operations Research, Management Science. --- Management --- Business & Economics --- Management Theory --- Operational analysis --- Operational research --- Economic theory --- Political economy --- Business. --- Decision making. --- Management science. --- Power electronics. --- Business and Management. --- Production of electric energy or. --- Operations Research/Decision Theory. --- Industrial engineering --- Management science --- Research --- System theory --- Quantitative business analysis --- Problem solving --- Operations research --- Statistical decision --- Electronics, Power --- Electric power --- Electronics --- Deciding --- Decision (Psychology) --- Decision analysis --- Decision processes --- Making decisions --- Management decisions --- Choice (Psychology) --- Decision making --- Electric utilities.
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This book provides an in-depth analysis of investment problems pertaining to electric energy infrastructure, including both generation and transmission facilities. The analysis encompasses decision-making tools for expansion planning, reinforcement, and the selection and timing of investment options. In this regard, the book provides an up-to-date description of analytical tools to address challenging investment questions such as: How can we expand and/or reinforce our aging electricity transmission infrastructure? How can we expand the transmission network of a given region to integrate significant amounts of renewable generation? How can we expand generation facilities to achieve a low-carbon electricity production system? How can we expand the generation system while ensuring appropriate levels of flexibility to accommodate both demand-related and production-related uncertainties? How can we choose among alternative production facilities? What is the right time to invest in a given production or transmission facility? Written in a tutorial style and modular format, the book includes a wealth of illustrative examples to facilitate comprehension. It is intended for advanced undergraduate and graduate students in the fields of electric energy systems, operations research, management science, and economics. Practitioners in the electric energy sector will also benefit from the concepts and techniques presented here.
Energy. --- Energy policy. --- Energy and state. --- Operations research. --- Decision making. --- Computer simulation. --- Mathematical models. --- Energy industries. --- Energy Policy, Economics and Management. --- Operation Research/Decision Theory. --- Energy Economics. --- Mathematical Modeling and Industrial Mathematics. --- Simulation and Modeling. --- Models, Mathematical --- Computer modeling --- Computer models --- Modeling, Computer --- Models, Computer --- Simulation, Computer --- Deciding --- Decision (Psychology) --- Decision analysis --- Decision processes --- Making decisions --- Management --- Management decisions --- Operational analysis --- Operational research --- Energy and state --- Power resources --- State and energy --- Decision making --- Government policy --- Operations Research/Decision Theory. --- Electromechanical analogies --- Mathematical models --- Simulation methods --- Model-integrated computing --- Industrial engineering --- Management science --- Research --- System theory --- Electric utilities --- Finance. --- Choice (Psychology) --- Problem solving --- Industrial policy --- Energy conservation
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