Browsing Articles by Subject "Uncertainty"
Now showing items 1-3 of 3
A study on complexity and uncertainty perception and solution strategies for the time/cost trade-off problemIn this article, the Discrete Time/Cost Tradeoff Problem (DTCTP) is revisited in light of a student experiment. Two solution strategies are distilled from the data of 444 participants and are structured by means of five building blocks: focus, activity criticality, ranking, intensity, and action. The impact of complexity and uncertainty on the cost objective is quantified in a large computational experiment. Specific attention is allocated to the influence of the actual and perceived complexity and uncertainty and the cost repercussions when reality and perception do not coincide.
The organizational environment with its measures, antecedents, and consequences: A review and research agendaThe organizational environment is a focal element of multifaceted managerial decisions. Consequently, research has shown a long lasting and still growing interest in investigating the organizational environment and understanding its impact on a firm. Because it is widely assumed that the business environment will become more dynamic, changes in the organizational environment have drawn the particular attention of many scholars. While the extant research has established valuable knowledge, its fragmentation due to differing definitions and contradictory findings calls for a broad review to establish a foundation for future research. By analyzing 279 studies that have investigated different aspects of the organizational environment between 1958 and mid-2017, we contribute to various research streams that involve this environmental factor. We use a comprehensive research framework to categorize and review the previous work. In particular, we distinguish between studies that define or measure the organizational environment, as well as studies that investigate antecedents, outcomes, and moderating effects of the organizational environments. Among those categories, we discuss our findings, before subsequently synthesizing existing works and deriving an agenda for future research.
Risk averse scheduling by a PEV aggregator under uncertaintyResearch on electric power systems has considered the impact of foreseeable plug-in electric vehicle (PEV) penetration on its regulation, planning, and operation. Indeed, detailed treatment of PEV charging is necessary for efficient allocation of resources. It is envisaged that a coordinator of charging schedules, i.e., a PEV aggregator, could exercise some form of load control according to electricity market prices and network charges. In this context, it is important to consider the effects of uncertainty of key input parameters to optimization algorithms for PEV charging schedules. However, the modeling of the PEV aggregator's exposure to profit volatility has received less attention in detail. Hence, this paper develops a methodology to maximize PEV aggregator profits taking decisions in day-ahead and balancing markets while considering risk aversion. Under uncertain market prices and fleet mobility, the proposed two-stage linear stochastic program finds optimal PEV charging schedules at the vehicle level. A case study highlights the effects of including the conditional value-at-risk (CVaR) term in the objective function and calculates two metrics referred to as the expected value of aggregation and flexibility.