minmax regret
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2021 ◽  
Vol 407 ◽  
pp. 126328
Author(s):  
Kien Trung Nguyen ◽  
Nguyen Thanh Hung

Water ◽  
2021 ◽  
Vol 13 (16) ◽  
pp. 2226
Author(s):  
Liang Chen ◽  
Benjamin F. Hobbs

A number of principles for evaluating water resources decisions under deep long-run uncertainty have been proposed in the literature. In this paper, we evaluate the usefulness of three widely recommended principles in the context of delta water and sedimentation management: scenario-based uncertainty definition, robustness rather than optimality as a performance measure, and modeling of adaptability, which is the flexibility to change system design or operations as conditions change in the future. This evaluation takes place in the context of an important real-world problem: flood control in the Yellow River Delta. The results give insight both on the physical function of the river system and on the effect of various approaches to modeling risk attitudes and adaptation on the long-term performance of the system. We find that the optimal decisions found under different scenarios differ significantly, while those resulting from using minimal expected cost and minmax regret metrics are similar. The results also show that adaptive multi-stage optimization has a lower expected cost than a static approach in which decisions over the entire time horizon are specified; more surprisingly, recognizing the ability to adapt means that larger, rather than smaller, first-stage investments become optimal. When faced with deep uncertainty in water resources planning, this case study demonstrates that considering scenarios, robustness, and adaptability can significantly improve decisions.


2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Wenrui Jin ◽  
Zhaoxu He ◽  
Qiong Wu

PurposeDue to the market trend of low-volume and high-variety, the manufacturing industry is paying close attention to improve the ability to hedge against variability. Therefore, in this paper the assembly line with limited resources is balanced in a robust way that has good performance under all possible scenarios. The proposed model allows decision makers to minimize a posteriori regret of the selected choice and hedge against the high cost caused by variability.Design/methodology/approachA generalized resource-constrained assembly line balancing problem (GRCALBP) with an interval data of task times is modeled and the objective is to find an assignment of tasks and resources to the workstations such that the maximum regret among all the possible scenarios is minimized. To properly solve the problem, the regret evaluation, an exact solution method and an enhanced meta-heuristic algorithm, Whale Optimization Algorithm, are proposed and analyzed. A problem-specific coding scheme and search mechanisms are incorporated.FindingsTheory analysis and computational experiments are conducted to evaluated the proposed methods and their superiority. Satisfactory results show that the constraint generation technique-based exact method can efficiently solve instances of moderate size to optimality, and the performance of WOA is enhanced due to the modified searching strategy.Originality/valueFor the first time a minmax regret model is considered in a resource-constrained assembly line balancing problem. The traditional Whale Optimization Algorithm is modified to overcome the inferior capability and applied in discrete and constrained assembly line balancing problems.


Author(s):  
Iago A. Carvalho ◽  
Thiago F. Noronha ◽  
Christophe Duhamel ◽  
Luiz F. M. Vieira ◽  
Vinicius F. dos Santos

2020 ◽  
pp. 105181
Author(s):  
Marta Baldomero-Naranjo ◽  
Jörg Kalcsics ◽  
Antonio M. Rodríguez-Chía

2020 ◽  
Vol 114 ◽  
pp. 36-47
Author(s):  
Biing-Feng Wang ◽  
Jhih-Hong Ye ◽  
Chih-Yu Li

Author(s):  
Marc Goerigk ◽  
Adam Kasperski ◽  
Paweł Zieliński

AbstractIn this paper a class of combinatorial optimization problems is discussed. It is assumed that a feasible solution can be constructed in two stages. In the first stage the objective function costs are known while in the second stage they are uncertain and belong to an interval uncertainty set. In order to choose a solution, the minmax regret criterion is used. Some general properties of the problem are established and results for two particular problems, namely the shortest path and the selection problem, are shown.


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