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- W2398905249 abstract "In most optimizing models for the operation of reservoirs it is assumed that the objective function is a sum of returns in different time periods. Tihs is true for most economic objective functions. In several cases, however, the objectve is formulated in other terms, but are and can be solved by deterministic dynamic programming. Consider the following examples: (a) A decision-maker wants to implement a more conservative criteria than minimizing the sum of losses from a given flood control project. He could try to minimize the maximum loss that could occur over a given time horizon. In this case we would have a min-max type of objective function. (b) The production and sale of on-peak energy from a hydroelectric power plant operated in conjunction with a reservoir brings high returns because energy means we can save not only operation costs but also capital costs elsewhere. But, energy is determined by a critical period in the operation of the system, which is the basis for the firm energy contract. Our objective function should try to maX1m1ze this energy contract; i. e., maximize the minimum amount of peak energy over the time periods. In this case, we have a max-min type of objective function." @default.
- W2398905249 created "2016-06-24" @default.
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- W2398905249 date "1983-01-01" @default.
- W2398905249 modified "2023-09-23" @default.
- W2398905249 title "6. OPTIMAL OPERATION OF RESERVOIRS BY DYNAMIC PROGRAMMING" @default.
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