Risk control of providing a kind of quasi-public goods under china's current pricing mechanism - case of energy industry

Wang Ming; Shen Dongjie; K. K. Lai; L. Liang

doi:10.1109/CSO.2009.473

Risk control of providing a kind of quasi-public goods under china's current pricing mechanism - case of energy industry

Wang Ming
, Shen Dongjie
, K. K. Lai
, L. Liang

Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 32 - Refereed conference paper (with host publication) › peer-review

1 Citation (Scopus)

Abstract

This article presents a robust optimization formulation for dealing with production cost and government price uncertainty in a kind of quasi-public goods market scenario. Participants in the market face price administrated by government but uncertain production costs, at the same time. We show that the robust optimization formulation, based on a nominal problem, may be articulated as a variational inequality involving control and state variables. This convenient approach may be applied for computation of optimal solutions, which can help manufactories dramatically and rapidly alter production and distribution schedules, in order to compete in the market successfully. © 2009 IEEE.

Original language	English
Title of host publication	Proceedings of the 2009 International Joint Conference on Computational Sciences and Optimization, CSO 2009
Pages	966-969
Volume	1
DOIs	https://doi.org/10.1109/CSO.2009.473
Publication status	Published - 2009
Event	2009 International Joint Conference on Computational Sciences and Optimization, CSO 2009 - Sanya, Hainan, China Duration: 24 Apr 2009 → 26 Apr 2009

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Name
Volume	1

Conference

Conference	2009 International Joint Conference on Computational Sciences and Optimization, CSO 2009
Place	China
City	Sanya, Hainan
Period	24/04/09 → 26/04/09

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title = "Risk control of providing a kind of quasi-public goods under china's current pricing mechanism - case of energy industry",

abstract = "This article presents a robust optimization formulation for dealing with production cost and government price uncertainty in a kind of quasi-public goods market scenario. Participants in the market face price administrated by government but uncertain production costs, at the same time. We show that the robust optimization formulation, based on a nominal problem, may be articulated as a variational inequality involving control and state variables. This convenient approach may be applied for computation of optimal solutions, which can help manufactories dramatically and rapidly alter production and distribution schedules, in order to compete in the market successfully. {\textcopyright} 2009 IEEE.",

author = "Wang Ming and Shen Dongjie and Lai, \{K. K.\} and L. Liang",

year = "2009",

doi = "10.1109/CSO.2009.473",

language = "English",

isbn = "9780769536057",

volume = "1",

pages = "966--969",

booktitle = "Proceedings of the 2009 International Joint Conference on Computational Sciences and Optimization, CSO 2009",

note = "2009 International Joint Conference on Computational Sciences and Optimization, CSO 2009 ; Conference date: 24-04-2009 Through 26-04-2009",

}

Ming, W, Dongjie, S, Lai, KK & Liang, L 2009, Risk control of providing a kind of quasi-public goods under china's current pricing mechanism - case of energy industry. in Proceedings of the 2009 International Joint Conference on Computational Sciences and Optimization, CSO 2009. vol. 1, 5193854, pp. 966-969, 2009 International Joint Conference on Computational Sciences and Optimization, CSO 2009, Sanya, Hainan, China, 24/04/09. https://doi.org/10.1109/CSO.2009.473

Risk control of providing a kind of quasi-public goods under china's current pricing mechanism - case of energy industry. / Ming, Wang; Dongjie, Shen; Lai, K. K. et al.
Proceedings of the 2009 International Joint Conference on Computational Sciences and Optimization, CSO 2009. Vol. 1 2009. p. 966-969 5193854.

Research output: Chapters, Conference Papers, Creative and Literary Works › RGC 32 - Refereed conference paper (with host publication) › peer-review

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PY - 2009

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AB - This article presents a robust optimization formulation for dealing with production cost and government price uncertainty in a kind of quasi-public goods market scenario. Participants in the market face price administrated by government but uncertain production costs, at the same time. We show that the robust optimization formulation, based on a nominal problem, may be articulated as a variational inequality involving control and state variables. This convenient approach may be applied for computation of optimal solutions, which can help manufactories dramatically and rapidly alter production and distribution schedules, in order to compete in the market successfully. © 2009 IEEE.

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DO - 10.1109/CSO.2009.473

M3 - RGC 32 - Refereed conference paper (with host publication)

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VL - 1

SP - 966

EP - 969

BT - Proceedings of the 2009 International Joint Conference on Computational Sciences and Optimization, CSO 2009

T2 - 2009 International Joint Conference on Computational Sciences and Optimization, CSO 2009

Y2 - 24 April 2009 through 26 April 2009

ER -

Risk control of providing a kind of quasi-public goods under china's current pricing mechanism - case of energy industry

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