For many decision-making problems under uncertainty, it is crucial to develop risk-averse models and specify the decision makers' risk preferences based on multiple stochastic performance measures (or ...

We investigate risk-averse stochastic optimization problems with a risk-shaping constraint in the form of a stochastic-order relation. Both univariate and multivariate orders are considered. We extend ...

This case study demonstrates the deep collaborative capability of the PERA intelligent solution with traditional CAE tools ...

Recently, a new approach for optimization of conditional value-at-risk (CVAR) was suggested and tested with several applications. For continuous distributions, CVAR is defined as the expected loss ...

Purdue faculty dedicate countless hours to exploring the frontiers of their respective fields, pushing the boundaries of knowledge and contributing to the ever-evolving landscape of academia. To ...

Scientists have used a CPLEX-based MIP model and tested it on a section of the 10 MW Masdar City Solar Photovoltaic Plant. In their simulation, they assume the use of two robotic cleaners to operate ...