nested benders decomposition

Stage-wise hybrid nested Benders’ decomposition-stochastic dual dynamic programming for virtual power plants

  • Youngdoo Choi
  • Seokwoo Kim
  • Sanghyeon Bae
  • Dong Gu Choi
    • Categories Dynamic Programming, Energy, Stochastic Programming Tags , , ,

    Participants in energy markets make sequential decisions across multiple time horizons under uncertainty, leading to large-scale multistage stochastic optimization problems. Stochastic dual dynamic programming is widely used for its tractability, but its application to modern energy markets is challenged by nested dependencies induced by participation across multiple interrelated markets under increasing uncertainty from distributed energy … Read more

    Relay-Hub Network Design for Consolidation Planning Under Demand Variability

  • Onkar Anand Kulkarni
  • Mathieu Dahan
    • Categories Branch and Cut Algorithms, Supply Chain Management, Transportation Tags , , , , , ,

    Problem description: We study the problem of designing large-scale resilient relay logistics hub networks. We propose a model of Capacitated Relay Network Design under Stochastic Demand and Consolidation-Based Routing (CRND-SDCR), which aims to improve a network’s efficiency and resilience against commodity demand variability through integrating tactical decisions. Methodology: We formulate CRND-SDCR as a two-stage stochastic … Read more

    Stochastic dual dynamic programming and its variants – a review

  • Christian Füllner
  • Steffen Rebennack
    • Categories Stochastic Programming Tags , , , , , , ,

    We provide a tutorial-type review on stochastic dual dynamic programming (SDDP), as one of the state-of-the-art solution methods for large-scale multistage stochastic programs. Since introduced about 30 years ago for solving large-scale multistage stochastic linear programming problems in energy planning, SDDP has been applied to practical problems from several fields and is enriched by various … Read more