The production planning is an important problem in most of manufacturing systems in practice. Unlike many researches existing in literature, this problem encounters with great uncertainties in parameters and input data. In this paper, a single machine capacitated production planning problem is considered and a linear programming formulation is presented. The production costs are assumed to be u...

Tradable permits are generally considered as an efficient instrument to regulate pollution by individual producers. However, uncertainty about changes in or possible discontinuation of the program could make individual farmers reluctant to invest in tradable permits. This article uses the option approach to derive a theoretical model that shows the impact of policy uncertainty on investment dec...

UNLABELLED BACKGROUND Cost-effective production of lignocellulosic biofuels remains a major financial and technical challenge at the industrial scale. A critical tool in biofuels process development is the techno-economic (TE) model, which calculates biofuel production costs using a process model and an economic model. The process model solves mass and energy balances for each unit, and the ...

In traditional data envelopment analysis (DEA) the uncertainty of inputs and outputs is not considered when evaluating the performance of a unit. In other words, effects of uncertainty on optimality and feasibility of models are ignored. This paper introduces a new model for measuring the efficiency of decision making units (DMUs) having interval inputs and outputs. The proposed model is based ...

In this paper, we consider a newsvendor who is going to invest on dedicated or flexible capacity, our goal is to find the optimal investment policy to maximize total profit while the newsvendor faces uncertainty in lead time and demand simultaneously. As highlighted in literature, demand is stochastic, while lead time is constant. However, in reality lead time uncertainty decreases newsvendor's...

Introduction Capturing complexity Research design Responses to risk in wool production Responses to risk in wool marketing A hierarchy of responses to risk and uncertainty in production and marketing decisions