This paper deals with a Unit Commitment (UC) problem of a power plant aimed to find the optimal scheduling of the generating units involving cubic cost functions. The problem has non convex generator characteristics, ...This paper deals with a Unit Commitment (UC) problem of a power plant aimed to find the optimal scheduling of the generating units involving cubic cost functions. The problem has non convex generator characteristics, which makes it very hard to handle the corresponding mathematical models. However, Teaching Learning Based Optimization (TLBO) has reached a high efficiency, in terms of solution accuracy and computing time for such non convex problems. Hence, TLBO is applied for scheduling of generators with higher order cost characteristics, and turns out to be computationally solvable. In particular, we represent a model that takes into account the accurate higher order generator cost functions along with ramp limits, and turns to be more general and efficient than those available in the literature. The behavior of the model is analyzed through proposed technique on modified IEEE-24 bus system.展开更多
The purpose of present work is to examine the financial problem of finding the universal reservation prices of a European call option written on exchange rate when there is proportional transaction costs of trading fo...The purpose of present work is to examine the financial problem of finding the universal reservation prices of a European call option written on exchange rate when there is proportional transaction costs of trading foreign currency in the market. An approach is suggested to compute the reservation bid-ask price of foreign currency call option based on maximizing the investor＇s expected utility. Option prices are determined from the investor＇s basic portfolio selection problem, without the need to solve a more complex optimization problem involving the insertion of the option payoffs into the terminal value function. Option prices are computed numerically in a Markov chain approximation for the case of exponential utility. Numerical results show that the option price bounds are almost independent of the alternative risk aversion parameter, but the bounds of NT region becomes narrower and the range of values of the initial holding for which the fair price lies within the bid-ask spread is shifted to a lower value when the risk aversion parameter increases.展开更多
This study was executed to offer the basis for optimized profit from fertilizer use for sorghum yield and to determine robust crop nutrient response function and economic rate for the production of sorghum at Miesso C...This study was executed to offer the basis for optimized profit from fertilizer use for sorghum yield and to determine robust crop nutrient response function and economic rate for the production of sorghum at Miesso Central Rift Valley of Ethiopia. Trails were conducted at six experimental sites, sorghum yield response to N and P fertilizers application and economically optimum rates of nitrogen (EONR) and phosphorus (EOPR) were evaluated on a vertisols within the semi-arid Miesso districts west Hararge zone of Oromia region. The nutrient rates in 2014 cropping season four levels of Nitrogen (N) alone, these levels with 20 <span style="white-space:nowrap;">kg·ha<sup>−1</sup></span> Phosphorus (P) and without N, 69 kg<span style="white-space:nowrap;">·</span>ha<sup><span style="white-space:nowrap;">−</span>1</sup> N with three levels of P treatments including the zero control were evaluated. In 2015, cropping season similar rates of N alone, the same rate N with 20 <span style="white-space:nowrap;">kg·ha<sup>−1</sup></span> P, 92 <span style="white-space:nowrap;">kg·ha<sup>−1</sup></span> N with three rates of P including the zero control were evaluated. The treatments were arranged in a randomized complete block with three replications in factorial design. Nutrient responses of sorghum were determined using asymptotic quadratic plateau functions. The significantly highest nitrogen rate was 46 <span style="white-space:nowrap;">kg·ha<sup>−1</sup></span> alone in 2014 season, which gave grain yield of 2.56 Mg<span style="white-space:nowrap;">·ha<sup>−1</sup></span><sup> </sup>with a maximum yield advantage of 43%. P rates in both seasons and combined (sites + seasons) were not significantly influenced sorghum yield. Nitrogen agronomic and partial factor productivity peaked at 23 kg N <span style="white-space:nowrap;">ha<sup>−1</sup></span> but declined with increasing N rate. The EONR combined (sites + seasons) were 37, 45, 52 and 60 <span style="white-space:nowrap;">kg·ha<sup>−1</sup></span><sup> </sup>and for the profit to cost ratio (PCR) were 2.43, 3.65, 4.86 and 5.79 at difference cost to grain price ratios (CP) = 3.6, 2.3, 1.6 and 1.2 respectively at Miesso Ethiopia. Nitrogen application had economically profitable than P. The study concluded that the application of N at 37 or 60 kg N <span style="white-space:nowrap;">ha<sup>−1</sup></span> to sorghum production could be economically profitable for those economically constrained farmers or economically not constrained farmers. Validation should be farther conducted on farmers’ fields for refining the results obtained.展开更多
文摘This paper deals with a Unit Commitment (UC) problem of a power plant aimed to find the optimal scheduling of the generating units involving cubic cost functions. The problem has non convex generator characteristics, which makes it very hard to handle the corresponding mathematical models. However, Teaching Learning Based Optimization (TLBO) has reached a high efficiency, in terms of solution accuracy and computing time for such non convex problems. Hence, TLBO is applied for scheduling of generators with higher order cost characteristics, and turns out to be computationally solvable. In particular, we represent a model that takes into account the accurate higher order generator cost functions along with ramp limits, and turns to be more general and efficient than those available in the literature. The behavior of the model is analyzed through proposed technique on modified IEEE-24 bus system.
基金Supported by the Natural Science Foundation of Zhejiang Province (Y604137) the Altitude College Natural Science Foundation of JiangSu Province (KY205017).
文摘The purpose of present work is to examine the financial problem of finding the universal reservation prices of a European call option written on exchange rate when there is proportional transaction costs of trading foreign currency in the market. An approach is suggested to compute the reservation bid-ask price of foreign currency call option based on maximizing the investor＇s expected utility. Option prices are determined from the investor＇s basic portfolio selection problem, without the need to solve a more complex optimization problem involving the insertion of the option payoffs into the terminal value function. Option prices are computed numerically in a Markov chain approximation for the case of exponential utility. Numerical results show that the option price bounds are almost independent of the alternative risk aversion parameter, but the bounds of NT region becomes narrower and the range of values of the initial holding for which the fair price lies within the bid-ask spread is shifted to a lower value when the risk aversion parameter increases.
文摘This study was executed to offer the basis for optimized profit from fertilizer use for sorghum yield and to determine robust crop nutrient response function and economic rate for the production of sorghum at Miesso Central Rift Valley of Ethiopia. Trails were conducted at six experimental sites, sorghum yield response to N and P fertilizers application and economically optimum rates of nitrogen (EONR) and phosphorus (EOPR) were evaluated on a vertisols within the semi-arid Miesso districts west Hararge zone of Oromia region. The nutrient rates in 2014 cropping season four levels of Nitrogen (N) alone, these levels with 20 <span style="white-space:nowrap;">kg·ha<sup>−1</sup></span> Phosphorus (P) and without N, 69 kg<span style="white-space:nowrap;">·</span>ha<sup><span style="white-space:nowrap;">−</span>1</sup> N with three levels of P treatments including the zero control were evaluated. In 2015, cropping season similar rates of N alone, the same rate N with 20 <span style="white-space:nowrap;">kg·ha<sup>−1</sup></span> P, 92 <span style="white-space:nowrap;">kg·ha<sup>−1</sup></span> N with three rates of P including the zero control were evaluated. The treatments were arranged in a randomized complete block with three replications in factorial design. Nutrient responses of sorghum were determined using asymptotic quadratic plateau functions. The significantly highest nitrogen rate was 46 <span style="white-space:nowrap;">kg·ha<sup>−1</sup></span> alone in 2014 season, which gave grain yield of 2.56 Mg<span style="white-space:nowrap;">·ha<sup>−1</sup></span><sup> </sup>with a maximum yield advantage of 43%. P rates in both seasons and combined (sites + seasons) were not significantly influenced sorghum yield. Nitrogen agronomic and partial factor productivity peaked at 23 kg N <span style="white-space:nowrap;">ha<sup>−1</sup></span> but declined with increasing N rate. The EONR combined (sites + seasons) were 37, 45, 52 and 60 <span style="white-space:nowrap;">kg·ha<sup>−1</sup></span><sup> </sup>and for the profit to cost ratio (PCR) were 2.43, 3.65, 4.86 and 5.79 at difference cost to grain price ratios (CP) = 3.6, 2.3, 1.6 and 1.2 respectively at Miesso Ethiopia. Nitrogen application had economically profitable than P. The study concluded that the application of N at 37 or 60 kg N <span style="white-space:nowrap;">ha<sup>−1</sup></span> to sorghum production could be economically profitable for those economically constrained farmers or economically not constrained farmers. Validation should be farther conducted on farmers’ fields for refining the results obtained.
