The Natural Gas Cash-Out Problem: A Bilevel Optimal Control Approach

Vyacheslav V. Kalashnikov, Francisco Benita and Patrick Mehlitz

Mathematical Problems in Engineering, 2015, vol. 2015, 1-17

Abstract:

The aim of this paper is threefold: first, it formulates the natural gas cash-out problem as a bilevel optimal control problem (BOCP); second, it provides interesting theoretical results about Pontryagin-type optimality conditions for a general BOCP where the upper level boasts a Mayer-type cost function and pure state constraints, while the lower level is a finite-dimensional mixed-integer programming problem with exactly one binary variable; and third, it applies these theoretical results in order to find possible local minimizers of the natural gas cash-out problem.

Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:hin:jnlmpe:286083

DOI: 10.1155/2015/286083

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