A common problem in energy allocation problems is managing the trade-off between selling surplus energy to maximize short term revenue, versus holding surplus energy to hedge against future shortfalls. For energy allocation problems, this surplus represents resource flexibility and is quantified as the surplus energy after meeting the demand. The...
Practical engineering design problems are generally multi-disciplinary with limited budget and high risk in terms of life loss, economic resources, etc. In the early phase of such problems, selection of true efficient designs is desired while minimizing overall design cost by avoiding expensive search processes. However, the task is difficult...