Uncertainty Characterization via Scenarios

Antonio J. Conejo (), Miguel Carrión () and Juan M. Morales ()
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Antonio J. Conejo: University of Castilla – La Mancha
Miguel Carrión: University of Castilla – La Mancha
Juan M. Morales: University of Castilla – La Mancha

Chapter Chapter 3 in Decision Making Under Uncertainty in Electricity Markets, 2010, pp 63-119 from Springer

Abstract: Abstract Many engineering and science problems are subject to uncertainty due to the inherent randomness of natural phenomena and/or to the imperfect knowledge of the variables determining the functional state of the human-created structures. In this context, computational methods that tackle uncertainty allow engineers and scientists to propose solutions less sensitive to environmental influences, while achieving simultaneously cost reduction, profit gains, and/or reliability improvement.

Keywords: Wind Farm; Electricity Market; ARMA Model; Scenario Tree; ARIMA Model (search for similar items in EconPapers)
Date: 2010
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DOI: 10.1007/978-1-4419-7421-1_3

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