water shortage crisis is an issue that has led to drastic changes in different agricultural policies, especially in arid and semi-arid areas. uncertainty in the amount of resources, e.g. water, used for agricultural production entails risk for farmers' income and cropping pattern changes. in the present study, the robust optimization model was used for optimal allocation of arable lands of khor...

Addressing deficit irrigation scheduling (DIS) for strategic crop production (especially wheat) under precipitation uncertainty is a priority for irrigation scheduling in drought conditions. This research investigated the precipitation uncertainty by enacting optimistic and pessimistic scenarios for the next 20 years by considering the statistical record of climate in Badjgah area. DIS was cond...

This paper examines how nominal uncertainty affects the choice firms face to serve a foreign market through exports or to produce abroad as a multinational. I develop a two-country, stochastic general equilibrium model in which firms make production and pricing decisions in advance, and I consider its implications for the relative attractiveness of exporting and multinational production. I find...

We propose a model of an incomplete markets economy with production, in which the firm acts as financial innovator by issuing claims against its stock. The firm’s objective is to maximize its adjusted value, which is the sum of the market value and the shareholders’ surplus from their trades in the stock markets. If a firm maximizes its adjusted value, then its financial policy is relevant (i.e...

This paper extends the theory of real options, which mainly considers the problem of timing of investment, by letting the firm choose also the quantity produced after the time of investment. Under the conditions of irreversible investment and uncertainty in future demand, the firm can adjust its output quantity at each point in time in the future. Our paper shows that changing the structure of ...

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This paper presents a dual-objective facility programming model for a green supply chain network. The main objectives of the presented model are minimizing overall expenditure and negative environmental impacts of the supply chain. This study contributes to the existing literature by incorporating uncertainty in customer demand, suppliers, production, and casting capacity. An industrial case st...

A kit is a specific collection of components and/or tools needed for completing a procedure or producing a product. A multiperiod material planning system for production kits under the demand and procurement lead-time uncertainty is considered when component sharing among kits is plausible. Simulation experiments show that component sharing improves the system’s service measure of average kit a...

The task of optimal long-term planning of electricity production capacity considering uncertainty intervals of the base, peak and intermediate loads, and multistage nature of the planning process will be tackled. Theoretical min-max approach to the problem will be given. Model uses dynamic programming and takes into account also constraints on structure of generating capacity and security of su...