Distribution Network Operation Under Uncertainty Using Information Gap Decision Theory

A practical approach to open-pit mine planning under price uncertainty using information gap decision theory

In the context of open-pit mine planning, uncertainties including commodity price would significantly affect the technical and financial aspects of mining projects. A mine planning that takes place regardless of the uncertainty in price just develops an optimized plan at the starting time of the mining operation. Given the price change over the life of mine, which is quite certain, optimality o...

Proposing a linear model of energy hub operation using information gap decision theory

Energy hub is a concept relates various energy carriers which has been expanded in recent years. Operation of energy hub is often attended with uncertainties. Therefore, this paper presents a linear model based on information gap decision theory (IGDT) to solve the energy hub problem. This approach can consider plenty of uncertainties, simultaneously. Energy hub under study includes a combined ...

Including severe uncertainty into environmentally benign life cycle design using information gap-decision theory

A multi-period distribution network design model under demand uncertainty

Supply chain management is taken into account as an inseparable component in satisfying customers' requirements. This paper deals with the distribution network design (DND) problem which is a critical issue in achieving supply chain accomplishments. A capable DND can guarantee the success of the entire network performance. However, there are many factors that can cause fluctuations in input dat...

Portfolio management under epistemic uncertainty using stochastic dominance and information-gap theory

Portfolio management in finance is more than a mathematical problem of optimizing performance under risk constraints. A critical factor in practical portfolio problems is severe uncertainty – ignorance – due to model uncertainty. In this paper, we show how to find the best portfolios by adapting the standard risk-return criterion for portfolio selection to the case of severe uncertainty, such a...