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pricingandinventorycontrolstrategyforaperiodicreviewenergybuybacksystem
Zhang Jihong1; Chen Hongqiao2; Ding Xiaosong1; Li Xian1
2016
Source Publicationjournalofsystemsscienceandcomplexity
ISSN1009-6124
Volume29Issue:4Pages:1018
AbstractAlong with the rapid development of economics and enhancement of industrialization, the power demand keeps rising and frequently creates mismatch between demand and supply in electricity. This provides miscellaneous energy buy-back programs with great opportunities. Such programs, when activated, offer certain amount of financial compensations to participants for reducing their energy consumption during peak time. They aim at encouraging participants to shift their electricity usage from peak to non-peak time, and thereby release the demand pressure during peak time. This paper considers a periodic-review joint pricing and inventory decision model under an energy buy-back program over finite planning horizons, in which the compensation levels, setup cost and additive random demand function are incorporated. The objective is to maximize a manufacturer's expected total profit. By using Veinott's conditions, it is shown that the manufacturer's optimal decision is a state dependent (s, S, P) policy under a peak market condition, or partly an (s, S, A, P) policy under the normal market condition.
Language英语
Document Type期刊论文
Identifierhttp://ir.amss.ac.cn/handle/2S8OKBNM/45366
Collection中国科学院数学与系统科学研究院
Affiliation1.北京外国语大学
2.中国科学院数学与系统科学研究院
Recommended Citation
GB/T 7714
Zhang Jihong,Chen Hongqiao,Ding Xiaosong,et al. pricingandinventorycontrolstrategyforaperiodicreviewenergybuybacksystem[J]. journalofsystemsscienceandcomplexity,2016,29(4):1018.
APA Zhang Jihong,Chen Hongqiao,Ding Xiaosong,&Li Xian.(2016).pricingandinventorycontrolstrategyforaperiodicreviewenergybuybacksystem.journalofsystemsscienceandcomplexity,29(4),1018.
MLA Zhang Jihong,et al."pricingandinventorycontrolstrategyforaperiodicreviewenergybuybacksystem".journalofsystemsscienceandcomplexity 29.4(2016):1018.
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