Under the smart grid environment, demand response resources (DRRs) are introduced as a virtual power plant to enhance power system adequacy. DRRs often fail to reduce their load due to some external factors. In this paper, a reliability model of a DRR is constructed as multi-state conventional generation units, where the probability, frequency of occurrence, and departure rate of each state can...

This paper represents a long-standing collaboration between Robert Fildes and Brian Kingsman who sadly died before it could be completed. This paper proposes a methodology for examining the effect of demand uncertainty and forecast error on lot sizing methods, unit costs and customer service levels in MRP type manufacturing systems. A number of cost structures were considered which depend on th...

1 We extend the existing toll pricing studies with fixed demand to stochastic demand. A new and 2 practical second-best pricing problem with uncertain demand is proposed and formulated as a 3 stochastic mathematical program with equilibrium constraints. In view of the problem structure, 4 we develop a tailored global optimization algorithm. This algorithm incorporates a sample 5 average approxi...