Dispatch planning using newsvendor dual problems and occupation times: Application to hydropower

Medium-term optimization of pumped hydro storage with stochastic intrastage subproblems

“…Apart from the method with stochastic intrastage subproblems the approaches are: 1) neglecting hourly short-term flexibility with peak and off-peak prices (usual approach) 2) price duration curves (e.g. [1], [6]) 3) deterministic intrastage subproblems (e.g. [2], [3]) The four methods are formulated in a way to allow the application of stochastic dynamic programming for the consideration of stochastic inflows and market prices.…”

Effects of gift cards on optimal order and discount of seasonal products

“…There is considerable literature on the newsvendor with price-dependent demand (Petruzzi and Dada 1999). However, many researchers have assumed exogenous prices to focus their analysis on particular settings of the newsvendor model (Babich et al 2012;Densing 2013).…”

Optimal inventory control in a multi-period newsvendor problem with non-stationary demand

“…Wang et al [13] consider the uncertainties of customer demand and supplier capacity. Densing [8] models the uncertainty of selling prices in the multi-stage stochastic programming model for the hydropower plant. Nagarajan and Rajagopalan [20] consider the problem with two substitutable products with negatively correlated demand.…”

“…Tanaka et al [7] pointed out that a company may financial loss through the short-life-cycle of product and the uncertainty of demand even for bestselling products. Prior works on the multi-period newsvendor problem commonly consider stationary demand [8][9][10]. However, the assumption of stationary demand may not be valid in practice, e.g., the situations of new products, uncertainty customer demand, economic conditions, or seasonal effects [11,12].…”