The COVID-19 pandemic is unleashing crises of humanity, economy, and finance. Portfolio selection is widely recognized as the foundation of modern financial economics. Therefore, it is naturally crucial and inviting to utilize portfolio selection in order to counter COVID-19 in stock markets. We...

Multi-reservoir system operation is a challenging and complex task, because of the curse of uncertainties, nonlinearities, dimensionalities and conflicts among the various contradictory objectives. Contemporaneous optimization of such competing objectives needs improving the capability of...

US energy system development consistent with the Paris Agreement will depend in part on future fuel prices and technology costs, which are highly uncertain. Energy system optimization models (ESOMs) represent a critical tool to examine clean energy futures under different assumptions. While many...

Purpose: This paper aims to propose a new model called the stochastic green capacitated p-median problem with a simulation-based optimisation approach. An integer linear programming mathematical model is built considering the total emission produced by vehicles and the uncertain parameters...

A practical stochastic location-inventory-delivery problem with multi-item joint replenishment is studied. Unlike the conventional location-inventory model with a continuous-review (r, Q) inventory policy, the periodic-review inventory policy is adopted with multi-item joint replenishment under...

This paper proposes an enhanced arithmetic optimization algorithm (AOA) called PSAOA that incorporates the proposed probabilistic search strategy to increase the searching quality of the original AOA. Furthermore, an adjustable parameter is also developed to balance the exploration and...

Problem definition: How should retailers and sellers distribute inventory across a large network of (potentially hundreds of) distribution centers? Motivated by the emerging challenges of inventory allocation in a volatile market, we study the distributionally robust multilocation newsvendor...

In the previous papers, I have mentioned several times of HKLam Theory and their everyday usage but without the abstract mathematical proof. In order to remediate the flaws, I am now trying to proof the theory through both Tensor Algebra and Analysis as well as the statistical inference in this...

In this paper, we consider decision-making problems where the decision maker’s (DM) utility/risk preferences are ambiguous but can be described by a general class of choice functions defined over the space of cumulative distribution functions (CDFs) of random prospects. These choice functions...