This paper introduces a multisector model of commodity markets with storage, where equilibrium is defined by profit maximization, arbitrage and market clearing conditions. We then solve for the decentralized equilibrium via a corresponding dynamic program. We also describe the dynamics of the...

Although uncertainty is rife in many project management contexts, little is known about adaptively optimizing project schedules. We formulate the problem of adaptively optimizing the expected present value of a project's cash flow, and we show that it is practical to perform the optimization....

We consider a production model with two facilities sharing a resource during a time horizon consisting of a number of time periods. Cumulative production levels at the ends of consecutive periods are linked with constraints of a general form. This allows us to give different interpretations...

We consider a production model with two facilities sharing a resource during a time horizon consisting of a number of time periods. Cumulative production levels at the ends of consecutive periods are linked with constraints of a general form. This allows us to give different interpretations...