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Purpose – The non‐storable nature of electricity and the increasing complexity of financial instruments as a tool for hedging against risk make the area of research very useful in the real world. Many power portfolio optimization problems have been developed to combat the issue of risk...
Persistent link: https://www.econbiz.de/10014773535
The common practice to calculate wind generation capacity values relies more on heuristic approximations than true system estimations. In this paper we proposed a more accurate method. In the first part of our analysis, a Monte Carlo simulation was created based on Markov chains to provide an...
Persistent link: https://www.econbiz.de/10010805154
Companies typically plan for warranty costs through creation of a reserve fund. Most researchers assume that the warranty reserve is set based on the expected total warranty costs. However, companies rarely keep reserves to cover their liabilities for the whole life of their products, since...
Persistent link: https://www.econbiz.de/10009352549
In this paper, we address the optimal configuration of a capacitated production/inventory system with multiple products. The optimisation problem that we consider involves minimisation of the expected total inventory cost within the system subject to a service-level constraint. The functional...
Persistent link: https://www.econbiz.de/10010668943