The main aim of the present study is to propose a modified harmony search (MHS) algorithm for size and shape optimization of structures. The standard harmony search (HS) algorithm is conceptualized using the musical process of searching for a perfect state of the harmony. It uses a stochastic random search instead of a gradient search. The proposed MHS algorithm is designed based on elitism. In...

emission trading is one of the famous mechanisms under kyoto protocol to control environmental pollution. the aim of this paper is to design a strategic supply chain network under emission trading scheme with inclusion of stochastic parameters and budget limitation. demand and price of carbon credits are considered as the important stochastic parameters influencing the supply chain network. in ...

Electric Power Generation Expansion Planning (GEP) is the problem of determining an optimal construction and generation plan of both new and existing electric power plants to meet future electricity demand. We consider a stochastic optimization approach for this capacity expansion problem under demand and fuel price uncertainty. In a two-stage stochastic optimization model for GEP, the capacity...

In the present article we address modelling and numerical computation of total value adjustment for European options in a multi-currency setting when foreign exchange rates between different involved currencies are assumed to be stochastic. Thus, extend more realistic approach previous work where constant have been considered. New models formulated both terms linear nonlinear PDEs expectations,...