Stochastic Programming Models for Strategic Planning: An Application to Electric Utilities
Author(s)Bienstock, Daniel; Shapiro, Jeremy F., 1939-
This paper reports on the application of stochastic programming with recourse models to strategic planning problems typical of those faced by an electric utility. A prototype model was constructed using realistic data, and optimized using Benders' decomposition method. The decomposition treats simultaneously stochastic programming and mixed integer programming structures arising naturally in strategicplanning models.
Revised January 1985
Massachusetts Institute of Technology, Operations Research Center
Operations Research Center Working Paper;OR 128-84