Upcoming Events

MOPEC: Multiple Optimization Problems with Equilibrium Constraints

March 26, 2013 3:00PM to 4:00PM
Presenter 
Michael C. Ferris, University of Wisconsin, Madison
Location 
University of Chicago, Searle Lab 240A
Type 
Meeting
Series 
Abstract:
We present a mechanism for describing and solving collections of optimization problems that are linked by equilibrium conditions. Included in this class are classical models such as the PIES model and agent based formulations arising from Nash Games. We demonstrate this mechanism in the context of energy planning problems, specifically for capacity expansion, hydro operation, and transmission line switching. We show how to incorporate stochastic information into these systems and give examples of their use and their possible extensions to hierarchical modeling.