The accelerating penetration of electric vehicles (EVs) is reshaping modern distribution networks by introducing substantial, time-varying charging demand and new operational uncertainties. At the same time, Vehicle-to-Grid (V2G) capable EVs offer unprecedented flexibility to support grid...

Limiting global warming to 1.5°C requires immediate action. Although allowable global greenhouse gas emissions are well-defined, translating these targets into actionable strategies at the company-level remains challenging. This study addresses critical gaps in understanding transition cost...

Background: Natural disasters can trigger hazardous material (Hazmat) releases and damage valuable assets, increasing human, environmental, and economic losses. Effective predisaster relocation planning is therefore critical but operationally challenging. Methods: This study develops a...

Purpose - We propose a method to build confidence sets for the solutions of stochastic discrete optimization problems solved through the sample average approximation method. Design/methodology/approach - By combining the concept of Model Confidence Set (MCS) with shrinkage estimation of large...

This paper considers how a system designer can program a team of autonomous agents to coordinate with one another such that each agent selects (or covers) an individual resource with the goal that all agents collectively cover the maximum number of resources. Specifically, we study how agents...

There has been significant recent progress in algorithms for approximation of Nash equilibrium in large two-player zero-sum imperfect-information games and exact computation of Nash equilibrium in multiplayer normal-form games. While counterfactual regret minimization and fictitious play are...

In this paper, we study an intertemporal utility maximization problem in which an investor chooses consumption and portfolio strategies in the presence of a stochastic factor and a no-borrowing constraint. In the spirit of the Kim-Omberg model, the stochastic factor represents the excess return...

We study optimal taxation in economies with general equilibrium market clearing, where agents with privately known labor skills and entrepreneurial abilities choose between deterministic labor income and risky firm operation. The government observes labor income and realized dividends but not...

Purpose: Research suggests that material handling costs account for 20-50% of production costs. Furthermore, these production cost could be reduced by 10-30% by dynamically changing the layout. We propose an integer programming model to sustainably solve plant layouts in a financially...

In the dual risk model, while the ultimate ruin probability has an exact and straightforward formula, the mathematics becomes significantly more complex when considering a finite time horizon, and the literature on this topic is scarce. As a result, there is a need for numerical approximations....

In ergodic singular stochastic control problems, a decision-maker can instantaneously adjust the evolution of a state variable using a control of bounded variation, with the goal of minimizing a long-term average cost functional. The cost of control is proportional to the magnitude of...