Flexible waste management under uncertainty

Corato, Luca Di; Montinari, Natalia

doi:10.1016/j.ejor.2013.09.026

Cited by 17 publications

(5 citation statements)

References 29 publications

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“…Moretto and Rossini (2012) show that a similar model can be used to analyze the optimal degree of production outsourcing. In the same vein, Di Corato and Montinari (2014) and Chronopoulos and Siddiqui (2015) study the optimal replacement of an old technology with a new one. Some other recent works focus on the importance of volume flexibility, i.e., the ability of a plant to upscale or downscale production according to demand realization (see e.g.…”

Section: The Real Options Approachmentioning

confidence: 99%

Evaluating the optimal timing and capacity of investments in flexible combined heat and power generation for energy-intensive industries

Zormpas

Oggioni

2023

Ann Oper Res

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Substantial R &D efforts are currently directed towards the development of combined heat and power (CHP) systems that automatically and seamlessly connect to the power grid. In this paper we develop a real options model to assess the impact that the operational flexibility characterizing such systems will have on the optimal timing and capacity associated with investments in CHP plants. We take the viewpoint of a manufacturer operating in an energy-intensive industry who contemplates investing in CHP. We discuss and compare investments in two types of CHP systems: a standard one that is operationally rigid and a technologically advanced one that is operationally flexible. The interaction between temporal and operational flexibility under uncertainty and irreversibility is central to our analysis. We show that operational flexibility guarantees earlier investment but has an ambiguous effect in terms of capacity. In particular, when operational flexibility is very valuable the potential investor is opting for investing in a plant with larger productive capacity. The potential investor chooses a smaller CHP unit if otherwise. A numerical exercise calibrated using data from the Italian pulp and paper and electricity industries complements our theoretical analysis.

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Section: The Real Options Approachmentioning

confidence: 99%

Evaluating the optimal timing and capacity of investments in flexible combined heat and power generation for energy-intensive industries

Zormpas

Oggioni

2023

Ann Oper Res

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“…(2008) proposed a two‐level discrete facility location model to site recycling plants and performed a case study in central Portugal. To handle mixed waste flow effectively, some recent studies have focused on the design of advanced recycling systems that integrate multiple technologies to harvest energy from different types of feedstock simultaneously (e.g., Di Corato and Montinari 2014, Fuji et al. 2014, Yilmaz and Selim 2013).…”

Section: Literature Reviewmentioning

confidence: 99%

Robustness of Resource Recovery Systems under Feedstock Uncertainty

Wang

2019

Production and Operations Management

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Recovery of resources from waste streams present important opportunities in mitigating environmental and energy challenges in many countries. In this paper, we develop an optimization‐based approach to study the robustness of resource recovery systems in achieving economic feasibility under feedstock uncertainty. Two key characteristics of the feedstock that influence recovery performance are its volume and composition. We propose models of feedstock robustness functions to perform robustness analysis with respect to these two characteristics, and also propose a composite robustness index as the optimization criterion for the problem of technology and capacity planning of recovery systems. We show that the proposed models have computationally attractive reformulations for the robustness analysis and optimization problems. In particular, the robustness analysis model solves either a small number of linear programs in several special cases, or a small number of linear mixed integer programs in general. Correspondingly, the design optimization problem can be solved either via the solution of a small number of linear mixed integer programs, or via a cutting plane approach. Finally, we demonstrate, through some numerical studies, the insights and values of using the proposed models in evaluation and optimization of organic waste‐to‐energy recovery systems.

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“…See Di Corato and Montinari (2014) for a recent contribution. 5 As our focus is the vertical structure of the MSW sector, our setup assumes there is a representative household in each area.…”

Section: A Spatial Model Of Mswmentioning

confidence: 99%

Municipal Solid Waste, Market Competition and the EU Policy

Reggiani

Silvestri

2017

Environ Resource Econ

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Two of the main pillars of the EU solid waste policy are the Proximity Principle and the Self-Sufficiency Principle. According to those, waste should be disposed as close as possible to where it has been produced. A likely effect of such provision is to prevent competition from neighbouring areas and increase the market power of local disposers, with possible undesirable consequences for other firms in the vertical chain. We show through a simple spatial model that one additional effect of the Proximity Principle and of the SelfSufficiency Principle is to provide an incentive to collectors and waste producers to increase the amount of separated waste.

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Flexible waste management under uncertainty

Cited by 17 publications

References 29 publications

Evaluating the optimal timing and capacity of investments in flexible combined heat and power generation for energy-intensive industries

Evaluating the optimal timing and capacity of investments in flexible combined heat and power generation for energy-intensive industries

Robustness of Resource Recovery Systems under Feedstock Uncertainty

Municipal Solid Waste, Market Competition and the EU Policy

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