Based on fuzzy value-at-risk (VaR), this paper proposes a new portfolio-selection model (PSM) called the VaR-based PSM (VaR-FPSM). Compared with existing FPSMs, VaR can directly reflect greatest loss of selected case under given confidence level. In study, when security returns are taken as trapezoidal, triangular, and Gaussian numbers, several crisp equivalent models VaR-FPSM derived, which be handled by any linear programming solvers. general situations, an improved particle swarm...

We study the adaptive distributionally robust hub location problem with multiple commodities under demand and cost uncertainty in both uncapacitated capacitated cases. The decision anticipates worst-case expected over an ambiguity set of possible distributions uncertain cost, routing policy, being to realization, ships through selected hubs. investigate adaptivity tractability model different distributional information about uncertainty. In case which are independent costs also mutually...

This article introduces an approach to assess the value and manage flexibility in engineering systems design based on decision rules stochastic programming. The differs from standard Real Options Analysis (ROA) that relies dynamic programming it parameterizes variables used flexible system operations. Decision are heuristic-triggering mechanisms by Makers (DMs) determine when is appropriate exercise flexibility. They can be treated similarly as, combined with, physical variables, optimal...

Reducing risks in location decisions when coping with imprecise information is critical supply chain management so as to increase competitiveness and profitability. In this paper, a two-stage fuzzy facility problem value-at-risk (VaR), called VaR-FFLP, proposed, which results zero-one integer programming problem. Some properties of the including value perfect (VPI), solution (VFS), bounds solution, are discussed. Since parameters represented form continuous variables, determination VaR...

In our earlier work, a promising new approach of fly ash utilization as converting it into high infrared radiance glass-ceramic material was proposed. this paper, pure reagents glass-ceramics were synthesized simulating the previously obtained glass-ceramics, and mechanisms effects iron oxide impurity, contained in ash, on crystallization behavior, radiation thermal expansion properties are systematically analyzed. It originally found that impurity has significant influence MgO-Al2O3-SiO2...

This work focuses on a broad class of facility location problems in the context adaptive robust stochastic optimization under state-dependent demand uncertainty. The is assumed to be significantly affected by related state information, such as seasonal or socio-economic information. In particular, state-wise ambiguity set adopted for modeling distributional uncertainty associated with different states. conditional characteristics each are described support, well mean and dispersion measures,...

We extend the notion of globalized robustness to consider distributional information beyond support ambiguous probability distribution. propose distributionally robust counterpart that disallows any (respectively, allows limited) constraint violation for distributions residing not residing) in ambiguity set. By varying its inputs, our proposal recovers several existing perceptions parameter uncertainty. Focusing on type 1 Wasserstein distance, we show has an insightful interpretation terms...

Considering nonstatistical uncertainties and/or insufficient historical data in security return forecasts, fuzzy set theory has been applied the past decades to build portfolio selection models. Meanwhile, various risk measurements such as variance, entropy, and Value-at-Risk have proposed environments evaluate investment risks from different perspectives. Sharpe ratio, also known reward-to-variability which measures premium per unit of nonsystematic (asset deviation), received great...

This paper introduces the fuzzy Value-at-Risk (VaR) into crop production planning and proposes a risk-based decision-making approach to problem in imprecise or parameters environments. In proposed VaR model, profit coefficients are uncertai n assumed be variables with known possibility distributions. Due variable infinite supports, model is inherently an infinite-dimensional optimization that can rarely solved directly via conventional mathematical programming methods. Therefore, algorithm...

Mechanized harvesting technologies with shaking systems for fruit industry have been widely investigated and significantly developed over the past several decades which were presented by a large amount of literature. This paper reviews research development progress mechanized fruits systematically focus on theoretical study, crop variety, system categories, abscission chemical agents, their actual applications. Based comprehensive review, different crops appear multifarious modes various...

In the context of robust optimization with information granules for distributional parameters, this paper investigates a two-stage waste-to-energy feedstock flow planning problem uncertain capacity expansion costs. The objective is to minimize worst-case overall loss in mean-risk criterion where risk measured by conditional value-at-risk operator. As salient feature, an integrated uncertainty considered which consists not only distribution shapes variables, but also manifold uncertainties...

In this paper, we consider a redundancy allocation problem for series parallel system with uncertain component lifetimes that minimizes costs while safeguarding reliability over given threshold level. We mixed strategies of cold standby and active multiple types components. address lifetime uncertainty in the framework distributionally robust optimization. particular, assume probability distributions are not exactly known only limited distributional information (e.g., mean, dispersion,...

In this study, we consider a resource recovery planning problem under public–private partnership. The local authority's is to determine the waste sorting scheme, and also cost‐sharing budget, minimize her expected payout, subject requirement of economic feasibility private operator. Given budget operator's site operate facilities, his goal maximize total profits. A salient feature that feedstock condition (composition volume) uncertain, but can be influenced by sorting‐at‐source scheme...

We consider an expansion planning problem for Waste-to-Energy (WtE) systems facing uncertainty in future waste supplies. The WtE plans are regarded as strategic, long term decisions, while the distribution and treatment medium to short operational decisions which can adapt actual collected. propose a prediction set model integrates of generation forecasts is constructed based on user-specified levels forecasting errors. Next, we use sets scenario analysis. More specifically, given plan,...