Stein W. Wallace

The impact of wind uncertainty on the strategic valuation of distributed electricity storage

  • Pedro Crespo Del Granado
  • Zhan Pang
  • Stein W. Wallace
    • Categories Applications - OR and Management Sciences, Stochastic Programming Tags , , , , ,

    The intermittent nature of wind energy generation has introduced a new degree of uncertainty to the tactical planning of energy systems. Short-term energy balancing decisions are no longer (fully) known, and it is this lack of knowledge that causes the need for strategic thinking. But despite this observation, strategic models are rarely set in an … Read more

    Distributionally Robust Multi-Item Newsvendor Problems with Multimodal Demand Distributions

  • Grani A. Hanasusanto
  • Daniel Kuhn
  • Stein W. Wallace
  • Steve Zymler
    • Categories Robust Optimization

    We present a risk-averse multi-dimensional newsvendor model for a class of products whose demands are strongly correlated and subject to fashion trends that are not fully understood at the time when orders are placed. The demand distribution is known to be multimodal in the sense that there are spatially separated clusters of probability mass but … Read more