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The second part of the thesis focuses on a different stochastic problem of finding the optimal hedging points in a manufacturing flow control system. Our simulation-based method allows solving large scale systems that are considered very difficult to solve by current standards in the literature.
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competition and robustification, we derive algorithmically tractable convex optimization counterparts that have a clear …-cut economic interpretation. In the case of perfect competition, this result corresponds to the two classic welfare theorems, which … the different effects of the combination of economic competition and uncertainty modeling. …
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