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Multi-Objective Simulation-Optimization Model for Long-term Reservoir Operation using Piecewise Linear Hedging Rule
Kasthrirengan Srinivasan
Published in Springer Netherlands
2018
Volume: 32
   
Issue: 5
Pages: 1901 - 1911
Abstract
An efficiently parameterized and appropriately structured piecewise linear hedging rule is formulated and included within a multi-objective simulation-optimization (S-O) framework that seeks to obtain Pareto-optimal solutions for the long-term hedged operation of a single water supply reservoir. Two conflicting objectives, namely, “minimize the total shortage ratio” and “minimize the maximum shortage” are considered in the S-O framework, while explicit specification of constraints is avoided in the optimization module. Evolutionary search based non-dominated sorting genetic algorithm is used as the driver, which is linked to the simulation engine that invokes the piecewise linear hedging rule within the S-O framework. Preconditioning of the multi-objective stochastic search of the time-varying piecewise linear hedging model is effected by feeding initial feasible solutions sampled from the Pareto-optimal front of a simple constant hedging parameter model, which has resulted in significant improvement of the Pareto-optimality and the computational efficiency. © 2018, Springer Science+Business Media B.V., part of Springer Nature.
About the journal
JournalData powered by TypesetWater Resources Management
PublisherData powered by TypesetSpringer Netherlands
ISSN09204741
Open AccessNo
Concepts (24)
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    Composite structures
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    Computational efficiency
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    Evolutionary algorithms
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    Genetic algorithms
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    Multiobjective optimization
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    Optimization
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    Pareto principle
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    Reservoirs (water)
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    Stochastic models
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    Stochastic systems
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    Water supply
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    HEDGING RULES
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    MULTI OBJECTIVE SIMULATION OPTIMIZATION
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    MULTI-OBJECTIVE GA
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    NON- DOMINATED SORTING GENETIC ALGORITHMS
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    Pareto optimal solutions
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    Preconditioning
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    SIMULATION OPTIMIZATION
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    WATER SUPPLY RESERVOIRS
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    Piecewise linear techniques
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    Genetic algorithm
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    Reservoir
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    Simulation
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    Stochasticity