Considerable energy is consumed during steel manufacturing process. Byproduct gas emerges as secondary energy in the process; however, it is also an atmospheric pollution source if it is released into the air. Therefo...Considerable energy is consumed during steel manufacturing process. Byproduct gas emerges as secondary energy in the process; however, it is also an atmospheric pollution source if it is released into the air. Therefore, the optimal utilization of byproduct gas not only saves energy but also protects environment. To solve this issue, a fore- cast model of gas supply, gas demand and surplus gas in a steel plant was proposed. With the progress of energy conservation, the amount of surplus gas was very large. In a steel plant, the surplus gas was usually sent to boilers to generate steam. However, each boiler had an individual efficiency. So the optimization of the utilization of surplus gas in boilers was a key topic. A dynamic programming method was used to develop an optimal utilization strategy for surplus gas. Finally, a case study providing a sound confirmation was given.展开更多
We apply the dynamic programming methods to compute the analytical solution of the dynamic mean-variance optimization problem affected by an exogenous liability in a multi-periods market model with singular second mom...We apply the dynamic programming methods to compute the analytical solution of the dynamic mean-variance optimization problem affected by an exogenous liability in a multi-periods market model with singular second moment matrixes of the return vector of assets. We use orthogonai transformations to overcome the difficulty produced by those singular matrixes, and the analytical form of the efficient frontier is obtained. As an application, the explicit form of the optimal mean-variance hedging strategy is also obtained for our model.展开更多
基金Sponsored by Science and Technology Research Funds of Liaoning Provincial Education Department of China(L2012082)
文摘Considerable energy is consumed during steel manufacturing process. Byproduct gas emerges as secondary energy in the process; however, it is also an atmospheric pollution source if it is released into the air. Therefore, the optimal utilization of byproduct gas not only saves energy but also protects environment. To solve this issue, a fore- cast model of gas supply, gas demand and surplus gas in a steel plant was proposed. With the progress of energy conservation, the amount of surplus gas was very large. In a steel plant, the surplus gas was usually sent to boilers to generate steam. However, each boiler had an individual efficiency. So the optimization of the utilization of surplus gas in boilers was a key topic. A dynamic programming method was used to develop an optimal utilization strategy for surplus gas. Finally, a case study providing a sound confirmation was given.
基金National Basic Research Program of China (973 Program No.2007CB814903)National Natural Science Foundation of China (No.70671069)
文摘We apply the dynamic programming methods to compute the analytical solution of the dynamic mean-variance optimization problem affected by an exogenous liability in a multi-periods market model with singular second moment matrixes of the return vector of assets. We use orthogonai transformations to overcome the difficulty produced by those singular matrixes, and the analytical form of the efficient frontier is obtained. As an application, the explicit form of the optimal mean-variance hedging strategy is also obtained for our model.
