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Journal articles on the topic 'Cost Optimality'

Author: Grafiati

Published: 4 September 2021

Last updated: 1 February 2022

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1

Whang, Seungjin. "Cost Allocation Revisited: An Optimality Result." Management Science 35, no. 10 (1989): 1264–73. http://dx.doi.org/10.1287/mnsc.35.10.1264.

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2

Hernández-Lerma, O., J. C. Hennet, and J. B. Lasserre. "Average cost Markov Decision Processes: Optimality conditions." Journal of Mathematical Analysis and Applications 158, no. 2 (1991): 396–406. http://dx.doi.org/10.1016/0022-247x(91)90244-t.

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3

Bettiol, Piernicola, and Nathalie Khalil. "Necessary optimality conditions for average cost minimization problems." Discrete & Continuous Dynamical Systems - B 24, no. 5 (2019): 2093–124. http://dx.doi.org/10.3934/dcdsb.2019086.

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4

Jiang, Xiaoyue, Kan Cheng, and Viliam Makis. "On the optimality of repair-cost-limit policies." Journal of Applied Probability 35, no. 04 (1998): 936–49. http://dx.doi.org/10.1017/s0021900200016648.

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An optimal repair/replacement problem for a single-unit repairable system with minimal repair and random repair cost is considered. The existence of the optimal policy is established using results of the optimal stopping theory, and it is shown that the optimal policy is a ‘repair-cost-limit’ policy, that is, there is a series of repair-cost-limit functionsgn(t),n= 1, 2,…, such that a unit of agetis replaced at thenth failure if and only if the repair costC(n,t) ≥gn(t); otherwise it is minimally repaired. If the repair cost does not depend onn, then there is a single repair cost limit functiong(t), which is uniquely determined by a first-order differential equation with a boundary condition.

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5

Hahn, Minhi, and Jin-Sok Hyun. "Advertising Cost Interactions and the Optimality of Pulsing." Management Science 37, no. 2 (1991): 157–69. http://dx.doi.org/10.1287/mnsc.37.2.157.

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6

Jiang, Xiaoyue, Kan Cheng, and Viliam Makis. "On the optimality of repair-cost-limit policies." Journal of Applied Probability 35, no. 4 (1998): 936–49. http://dx.doi.org/10.1239/jap/1032438389.

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An optimal repair/replacement problem for a single-unit repairable system with minimal repair and random repair cost is considered. The existence of the optimal policy is established using results of the optimal stopping theory, and it is shown that the optimal policy is a ‘repair-cost-limit’ policy, that is, there is a series of repair-cost-limit functions gn(t), n = 1, 2,…, such that a unit of age t is replaced at the nth failure if and only if the repair cost C(n, t) ≥ gn(t); otherwise it is minimally repaired. If the repair cost does not depend on n, then there is a single repair cost limit function g(t), which is uniquely determined by a first-order differential equation with a boundary condition.

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7

Thépot, Jacques, and Jean-Luc Netzer. "On the optimality of the full-cost pricing." Journal of Economic Behavior & Organization 68, no. 1 (2008): 282–92. http://dx.doi.org/10.1016/j.jebo.2008.04.007.

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8

Brauner, Nadia, Gerd Finke, Yakov Shafransky, and Dzmitry Sledneu. "Lawler’s minmax cost algorithm: optimality conditions and uncertainty." Journal of Scheduling 19, no. 4 (2015): 401–8. http://dx.doi.org/10.1007/s10951-014-0413-x.

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9

Kuo, Yueh-Cheng, and Tsung-Lin Lee. "Tracking local optimality for cost parameterized optimization problems." Computer Physics Communications 185, no. 2 (2014): 572–77. http://dx.doi.org/10.1016/j.cpc.2013.10.021.

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10

RICHTER, HENDRIK. "ON OPTIMALITY OF LOCAL CONTROL OF CHAOS." International Journal of Bifurcation and Chaos 11, no. 03 (2001): 871–79. http://dx.doi.org/10.1142/s0218127401002389.

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Local control stabilizes chaotic motions by applying a state feedback only within a possible strongly bounded state space region of control (SSRC). In this paper, we consider the question of when a local control is optimal. Therefore, a cost function is employed that accounts for two components: time and control force needed until stabilization occurs. We present analytical and numerical results on the dependency of the cost on the size of the SSRC and a weighting constant between the two components of the cost function.

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11

Mishin, Sergey. "OPTIMAL ORGANIZATIONAL HIERARCHIES IN FIRMS." Journal of Business Economics and Management 8, no. 2 (2007): 79–99. http://dx.doi.org/10.3846/16111699.2007.9636156.

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One of the main problems in modern economy is to construct an efficient organizational hierarchy allowing to control the firm with minimal cost. This paper describes the mathematical model of optimal hierarchies in firms. Optimal hierarchies for several classes of cost functions are obtained. Particularly, sufficient conditions for tree optimality, 2hier‐archy (any manager has two immediate subordinates) optimality and two‐tier hierarchy optimality are defined.

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12

VON HAMMERSTEIN, ERNST AUGUST, EVA LÜTKEBOHMERT, LUDGER RÜSCHENDORF, and VIKTOR WOLF. "OPTIMALITY OF PAYOFFS IN LÉVY MODELS." International Journal of Theoretical and Applied Finance 17, no. 06 (2014): 1450041. http://dx.doi.org/10.1142/s0219024914500411.

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In this paper, we determine the lowest cost strategy for a given payoff in Lévy markets where the pricing is based on the Esscher martingale measure. In particular, we consider Lévy models where prices are driven by a normal inverse Gaussian (NIG)- or a variance Gamma (VG)-process. Explicit solutions for cost-efficient strategies are derived for a variety of vanilla options, spreads, and forwards. Applications to real financial market data show that the cost savings associated with these strategies can be quite substantial. The empirical findings are supplemented by a result that relates the magnitude of these savings to the strength of the market trend. Moreover, we consider the problem of hedging efficient claims, derive explicit formulas for the deltas of efficient calls and puts and apply the results to German stock market data. Using the time-varying payoff profile of efficient options, we further develop alternative delta hedging strategies for vanilla calls and puts. We find that the latter can provide a more accurate way of replicating the final payoff compared to their classical counterparts.

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13

Batubara, Putri, Elly Rosmaini, and Esther Nababan. "Kajian Masalah Transshipment Tidak Seimbang Menggunakan Metode Least Cost - Stepping Stone Dan Metode Least Cost - Modi." Talenta Conference Series: Science and Technology (ST) 1, no. 1 (2018): 049–58. http://dx.doi.org/10.32734/st.v1i1.189.

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Penelitian ini merupakan kajian masalah transshipment tidak seimbang menggunakan metode Least Cost - Stepping Stone. Metode Least Cost - MODI juga digunakan untuk membandingkan uji optimalitas mana yang lebih baik dalam menyelesaikan masalah transshipment ini. Hasil dari penelitian menunjukkan bahwa metode Least Cost - SteppingStone dan metode Least Cost - MODI dapat menyelesaikan masalah transshipment tidak seimbang. Menurut uji perbandingan metode MODI lebih efisien dari pada metode Stepping Stone dalam menguji optimalitas suatu masalah transshipment karena metode MODI memerlukan lebih sedikit iterasi dibandingkan dengan metode Stepping Stone. Pada Metode MODI nilai indeks perbaikan dapat dicari tanpa harus mencari loop dari setiap sel kosong, yakni hanya membutuhkan satu loop yang didapat setelah menentukan sel dengan indeks perbaikan terbesar, sedangkan pada metode Stepping Stone nilai indeks perbaikan dicari dengan membuat loop untuk setiap sel kosong pada setiap iterasi. Selain itu Metode Least Cost menghasilkan biaya transportasi yang berbeda apabila posisi penempatan biaya diubah, sedangkan dengan metode Stepping Stone biaya transportasi akan tetap sama dan optimal apabila posisi penempatan biaya diubah.  This research is a study of unbalanced transshipment problems using the Least Cost - Stepping Stone method. The Least Cost - MODI method was also used to compare which optimality test was better in solving this transshipment problem. The results of the study showed that the Least Cost - Stepping Stone method and the Least Cost - MODI method could solve unbalanced transshipment problems. According to the comparison test, the MODI method was more efficient than the Stepping Stone method in testing the optimality of a transshipment problem because the MODI method required less iteration than the Stepping Stone method. In the MODI method, the repair index value could be searched without having to search for loops from each empty cell, which only requires one loop after determining the cell with the largest repair index. On the other hand, in the Stepping Stone method, the repair index value was searched by making a loop for each empty cell at each iteration. In addition, the Least Cost method produced different transportation costs if the placement position costs were changed. Meanwhile, the Stepping Stone method transportation costs would remain the same and optimal if the placement position costs were altered.

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14

Sennott, Linn I. "The Average Cost Optimality Equation and Critical Number Policies." Probability in the Engineering and Informational Sciences 7, no. 1 (1993): 47–67. http://dx.doi.org/10.1017/s0269964800002783.

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We consider a Markov decision chain with countable state space, finite action sets, and nonnegative costs. Conditions for the average cost optimality inequality to be an equality are derived. This extends work of Cavazos-Cadena [8]. It is shown that an optimal stationary policy must satisfy the optimality equation at all positive recurrent states. Structural results on the chain induced by an optimal stationary policy are derived. The results are employed in two examples to prove that any optimal stationary policy must be of critical number form.

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15

Severnyak, Krisztina. "Cost Optimality and/or Sustainability in our Building's Life." Advanced Materials Research 899 (February 2014): 87–92. http://dx.doi.org/10.4028/www.scientific.net/amr.899.87.

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As energy efficiency is becoming an increasingly important feature, buildings are expected to comply with several criteria and requirements and these criteria are changed and extended with time. The Directive 2002/91/EC of the European Parliament and Commission on the energy performance of buildings and the Directive 2010/31/EU request Member States to apply minimum energy performance requirements. These minimum requirements are indeed applied all over the European Union and should be regularly reviewed. Our research aimed at clarifying whether optimum cost and/or energy efficiency represents the next step towards actual energy efficiency. The Directive brought forth an aspect that should have been prioritized long ago already: Are the construction and refurbishment of buildings in Europe economically feasible? The methodology prescribed by the Directive leaves several questions open and provokes further research. The methodology uses costs only as the basis for examining energy consumption and emissions related to already existing, newly constructed or refurbished buildings or refurbishment options. Optimum cost does not necessarily correspond to optimum energy or environmental performance. The price of materials and equipment built in does not always reflect the energy built in or environmental advantages. Subsidies to promote energy efficiency may bias optimum costs. Viewing optimums from the broader aspect of energy consumption, proper results are only yielded by analyses completed for the entire life cycle of buildings. This way, we may decide which characteristics attribute more to a low energy and emission status, i.e. state-of-the-art construction technology or traditional, natural constructing methods such as those used for „conservative eco buildings.” [1]

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16

Kromann, Matthias Trautner. "Optimality parsing and local cost functions in Discontinuous Grammar." Electronic Notes in Theoretical Computer Science 53 (April 2004): 163–79. http://dx.doi.org/10.1016/s1571-0661(05)82581-2.

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17

Beyer, D., and S. P. Sethi. "Average Cost Optimality in Inventory Models with Markovian Demands." Journal of Optimization Theory and Applications 92, no. 3 (1997): 497–526. http://dx.doi.org/10.1023/a:1022651322174.

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18

Hughes, Alun D. "Optimality, cost minimization and the design of arterial networks." Artery Research 10, no. C (2015): 1. http://dx.doi.org/10.1016/j.artres.2015.01.001.

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19

BISCHOF, HOLGER, SERGEI GORLATCH, and EMANUEL KITZELMANN. "COST OPTIMALITY AND PREDICTABILITY OF PARALLEL PROGRAMMING WITH SKELETONS." Parallel Processing Letters 13, no. 04 (2003): 575–87. http://dx.doi.org/10.1142/s0129626403001525.

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Skeletons are reusable, parameterized program components with well-defined semantics and pre-packaged efficient parallel implementation. This paper develops a new, provably cost-optimal implementation of the DS (double-scan) skeleton for programming divide-and-conquer algorithms. Our implementation is based on a novel data structure called plist (pointed list); implementation's performance is estimated using an analytical model. We demonstrate the use of the DS skeleton for parallelizing a tridiagonal system solver and report experimental results for its MPI implementation on a Cray T3E and a Linux cluster: they confirm the performance improvement achieved by the cost-optimal implementation and demonstrate its good predictability by our performance model.

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20

LIANG, MIN. "BILINEAR OPTIMAL CONTROL FOR A WAVE EQUATION." Mathematical Models and Methods in Applied Sciences 09, no. 01 (1999): 45–68. http://dx.doi.org/10.1142/s0218202599000051.

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We consider the problem of optimal control of a wave equation. A bilinear control is used to bring the state solutions close to a desired profile under a quadratic cost of control. We establish the existence of solutions of the underlying initial boundary-value problem and of an optimal control that minimizes the cost functional. We derive an optimality system by formally differentiating the cost functional with respect to the control and evaluating the result at an optimal control. We establish existence and uniqueness of the solution of the optimality system and thus determine the unique optimal control in terms of the solution of the optimality system.

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21

Meherrem, Shahlar, and Rufan Akbarov. "Optimal Control Problem for Switched System with the Nonsmooth Cost Functional." Abstract and Applied Analysis 2013 (2013): 1–6. http://dx.doi.org/10.1155/2013/681862.

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We examine the relationships between lower exhausters, quasidifferentiability (in the Demyanov and Rubinov sense), and optimal control for switching systems. Firstly, we get necessary optimality condition for the optimal control problem for switching system in terms of lower exhausters. Then, by using relationships between lower exhausters and quasidifferentiability, we obtain necessary optimality condition in the case that the minimization functional satisfies quasidifferentiability condition.

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22

Chang, Cheng-Shang, and Rhonda Righter. "The optimality of LEPT in parallel machine scheduling." Journal of Applied Probability 31, no. 3 (1994): 788–96. http://dx.doi.org/10.2307/3215156.

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We consider preemptive scheduling on parallel machines where the number of available machines may be an arbitrary, possibly random, function of time. Processing times of jobs are from a family of DLR (decreasing likelihood ratio) distributions, and jobs may arrive at random agreeable times. We give a constructive coupling proof to show that LEPT stochastically minimizes the makespan, and that it minimizes the expected cost when the cost function satisfies certain agreeability conditions.

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23

Chang, Cheng-Shang, and Rhonda Righter. "The optimality of LEPT in parallel machine scheduling." Journal of Applied Probability 31, no. 03 (1994): 788–96. http://dx.doi.org/10.1017/s0021900200045344.

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We consider preemptive scheduling on parallel machines where the number of available machines may be an arbitrary, possibly random, function of time. Processing times of jobs are from a family of DLR (decreasing likelihood ratio) distributions, and jobs may arrive at random agreeable times. We give a constructive coupling proof to show that LEPT stochastically minimizes the makespan, and that it minimizes the expected cost when the cost function satisfies certain agreeability conditions.

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24

Woldenberg, Michael J., and Keith Horsfield. "Relation of branching angles to optimality for four cost principles." Journal of Theoretical Biology 122, no. 2 (1986): 187–204. http://dx.doi.org/10.1016/s0022-5193(86)80081-9.

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25

Bensoussan, Alain, Metin Cakanyildirim, Suresh P. Sethi, Mingzheng Wang, and Hanqin Zhang. "Average Cost Optimality in Inventory Models With Dynamic Information Delays." IEEE Transactions on Automatic Control 56, no. 12 (2011): 2869–82. http://dx.doi.org/10.1109/tac.2011.2144650.

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26

Gordienko, Evgueni, Enrique Lemus-Rodríguez, and Raúl Montes-de-Oca. "Discounted cost optimality problem: stability with respect to weak metrics." Mathematical Methods of Operations Research 68, no. 1 (2007): 77–96. http://dx.doi.org/10.1007/s00186-007-0171-z.

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27

Leoni, Patrick L. "Extreme punishments characterize weak Pareto optimality." Adaptive Behavior 25, no. 1 (2017): 24–29. http://dx.doi.org/10.1177/1059712316683231.

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In normal form games, we model the largely observed psychological phenomenon of systematic and extreme punishment after a deviation, regardless of the cost. After establishing basic properties, we show that this notion characterizes a weak form of Pareto optimality. Every Pareto optimal outcome can also be sustained by the threat of extreme punishment, which cannot be achieved in general through Nash equilibria strategies, nor with tit-for-tat strategies.

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28

Tangour, Fatma, and Ihsen Saad. "Multiobjective Optimization Scheduling Problems by Pareto-optimality in Agro-alimentaryWorkshop." International Journal of Computers Communications & Control 1, no. 3 (2006): 71. http://dx.doi.org/10.15837/ijccc.2006.3.2296.

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This paper deals with the multiobjective optimization problem of an agroalimentary production workshop. Three criteria are considered in addition to this initial cost of production: the cost of the out-of-date products, the cost of the distribution discount and the makespan, and a new coding is proposed for this type of workshop. The adopted approach consists in generating optimal solutions diversified in the search space of solutions, and to help the decision maker when it cannot give a particular preference to one of the objective functions to make the good decision with respect to the quoted criteria.

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29

Papageorgiou, Nikolaos S. "Optimality conditions for systems with insufficient data." Bulletin of the Australian Mathematical Society 41, no. 1 (1990): 45–56. http://dx.doi.org/10.1017/s0004972700017846.

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In this paper we use the Dubovitski–Milyutin formalism to establish necessary and sufficient conditions for optimality in a nonlinear, distributed parameter control system, with convex cost criterion and initial condition not given a priori (that is it is not a known function but instead it belongs to a specified set). Our result extends a recent theorem of Lions. Finally a concrete example is worked out in detail.

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30

Shen, Yuelin, and Sean P. Willems. "Coordinating a channel with asymmetric cost information and the manufacturer's optimality." International Journal of Production Economics 135, no. 1 (2012): 125–35. http://dx.doi.org/10.1016/j.ijpe.2010.11.012.

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31

Ghiyasvand, Mehdi. "A Geometrical Explanation to the Optimality Concept of Minimum Cost Flows." Scientia Iranica 23, no. 6 (2016): 3063–71. http://dx.doi.org/10.24200/sci.2016.4012.

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32

Jasso-Fuentes, Héctor, José-Luis Menaldi, Tomás Prieto-Rumeau, and Maurice Robin. "Discrete-time hybrid control in Borel spaces: Average cost optimality criterion." Journal of Mathematical Analysis and Applications 462, no. 2 (2018): 1695–713. http://dx.doi.org/10.1016/j.jmaa.2018.03.007.

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33

Lucchi, Elena, Magdalena Tabak, and Alexandra Troi. "The “Cost Optimality” Approach for the Internal Insulation of Historic Buildings." Energy Procedia 133 (October 2017): 412–23. http://dx.doi.org/10.1016/j.egypro.2017.09.372.

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34

Loeb, Martin P., and Krishnamurthy Surysekar. "On the optimality of cost-based contracts in sole source procurement." Management Accounting Research 5, no. 1 (1994): 31–44. http://dx.doi.org/10.1006/mare.1994.1003.

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35

Anysz, Hubert, and Michał Krzemiński. "Cost approach to the flow-shop construction scheduling." E3S Web of Conferences 110 (2019): 02048. http://dx.doi.org/10.1051/e3sconf/201911002048.

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A flow-shop construction scheduling – especially for a higher number of tasks projected – requires the use of metaheuristic algorithms to find the optimal schedule. The criteria of optimality may vary as well as constraints assumed for the schedule. The paper presents base rules of the flow-shop scheduling as well as the methods of making the work of engaged brigades continuous. When the cost of work execution is analyzed, it can occur that the optimal schedule understood as providing the shortest total time of project execution or the shortest total slack times of working brigades is not the cheapest solution. The following cost generators are taken into account: a daily cost of each brigade (working or waiting for the work), the technology applied to work execution, penalties for not keeping the milestones. The model of a time-cost evaluation of the flow-shop time schedule is formulated, analyzed and discussed. For the illustration of the presented model, the exemplary flow-shop time schedule with some constraints assumed is analyzed with and without the lowest cost as a criterion of optimality.

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36

Guo, Xianping, and Liuer Ye. "New discount and average optimality conditions for continuous-time Markov decision processes." Advances in Applied Probability 42, no. 04 (2010): 953–85. http://dx.doi.org/10.1017/s000186780000447x.

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This paper deals with continuous-time Markov decision processes in Polish spaces, under the discounted and average cost criteria. All underlying Markov processes are determined by given transition rates which are allowed to be unbounded, and the costs are assumed to be bounded below. By introducing an occupation measure of a randomized Markov policy and analyzing properties of occupation measures, we first show that the family of all randomized stationary policies is ‘sufficient’ within the class of all randomized Markov policies. Then, under the semicontinuity and compactness conditions, we prove the existence of a discounted cost optimal stationary policy by providing a value iteration technique. Moreover, by developing a new average cost, minimum nonnegative solution method, we prove the existence of an average cost optimal stationary policy under some reasonably mild conditions. Finally, we use some examples to illustrate applications of our results. Except that the costs are assumed to be bounded below, the conditions for the existence of discounted cost (or average cost) optimal policies are much weaker than those in the previous literature, and the minimum nonnegative solution approach is new.

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37

Guo, Xianping, and Liuer Ye. "New discount and average optimality conditions for continuous-time Markov decision processes." Advances in Applied Probability 42, no. 4 (2010): 953–85. http://dx.doi.org/10.1239/aap/1293113146.

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This paper deals with continuous-time Markov decision processes in Polish spaces, under the discounted and average cost criteria. All underlying Markov processes are determined by given transition rates which are allowed to be unbounded, and the costs are assumed to be bounded below. By introducing an occupation measure of a randomized Markov policy and analyzing properties of occupation measures, we first show that the family of all randomized stationary policies is ‘sufficient’ within the class of all randomized Markov policies. Then, under the semicontinuity and compactness conditions, we prove the existence of a discounted cost optimal stationary policy by providing a value iteration technique. Moreover, by developing a new average cost, minimum nonnegative solution method, we prove the existence of an average cost optimal stationary policy under some reasonably mild conditions. Finally, we use some examples to illustrate applications of our results. Except that the costs are assumed to be bounded below, the conditions for the existence of discounted cost (or average cost) optimal policies are much weaker than those in the previous literature, and the minimum nonnegative solution approach is new.

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38

Zheng, Yu-Sheng. "A simple proof for optimality of (s, S) policies in infinite-horizon inventory systems." Journal of Applied Probability 28, no. 4 (1991): 802–10. http://dx.doi.org/10.2307/3214683.

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The classical proofs for the existence of a stationary (s, S) inventory policy that minimizes the total discounted or average cost over an infinite horizon are lengthy because they depend heavily on the optimality results for corresponding finite-horizon models. This note presents a simpler alternative. Since optimal stationary (s, S) policies are relatively simple to characterize, it is easy to construct a solution to the optimality equation which is satisfied by an (s, S) policy or an equivalent variant thereof. For the discounted model, the proof characterizes an (s, S) policy that is optimal for all initial inventory positions. This policy can be generated by a simple existing algorithm. For the average-cost model, the optimality proof is completed with some additional arguments, which are simple but novel, to overcome the normal difficulties encountered in models with unbounded one-step expected costs.

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39

Zheng, Yu-Sheng. "A simple proof for optimality of (s, S) policies in infinite-horizon inventory systems." Journal of Applied Probability 28, no. 04 (1991): 802–10. http://dx.doi.org/10.1017/s0021900200042716.

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The classical proofs for the existence of a stationary (s, S) inventory policy that minimizes the total discounted or average cost over an infinite horizon are lengthy because they depend heavily on the optimality results for corresponding finite-horizon models. This note presents a simpler alternative. Since optimal stationary (s, S) policies are relatively simple to characterize, it is easy to construct a solution to the optimality equation which is satisfied by an (s, S) policy or an equivalent variant thereof. For the discounted model, the proof characterizes an (s, S) policy that is optimal for all initial inventory positions. This policy can be generated by a simple existing algorithm. For the average-cost model, the optimality proof is completed with some additional arguments, which are simple but novel, to overcome the normal difficulties encountered in models with unbounded one-step expected costs.

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40

Okolo, Patrick, and Onoja Abu. "ON OPTIMAL CONTROL AND COST-EFFECTIVENESS ANALYSIS FOR TYPHOID FEVER MODEL." FUDMA JOURNAL OF SCIENCES 4, no. 3 (2020): 437–45. http://dx.doi.org/10.33003/fjs-2020-0403-258.

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Abstract Typhoid fever is a disease of a major concern in the developing world because it adversely affects on health and finance of a large chunk of people in this part of the world. This paper is aim to develop an extend and improve the optimal control model of typhoid transmission dynamics that can select the best cost-effective strategy for some interventions. Thus, an optimal control model for typhoid, incorporating control functions representing measures of personal hygiene and sanitation, diagnosis and treatment, and vaccination, was formulated. The corresponding optimality system was characterized via the Pontryagin’s maximum principle. The optimality system was numerically simulated for all possible strategies using Runge-Kutta method of order four. For cost-effectiveness analysis, the method of incremental cost-effectiveness ratio (ICER) was employed. The results show that the model is able to select the most cost-effective strategy for any given set of parameter values and initial conditions. Key words: Optimal control, Pontryagin’s maximum principle, cost-effectiveness

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41

Hussain, Akhtar, Van-Hai Bui, Ju-Won Baek, and Hak-Man Kim. "Stationary Energy Storage System for Fast EV Charging Stations: Optimality Analysis and Results Validation." Energies 13, no. 1 (2020): 230. http://dx.doi.org/10.3390/en13010230.

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In order to minimize the peak load of electric vehicles (EVs) and enhance the resilience of fast EV charging stations, several sizing methods for deployment of the stationary energy storage system (ESS) have been proposed. However, methods for assessing the optimality of the obtained results and performance of the determined sizes under different conditions are missing. In order to address these issues, a two-step approach is proposed in this study, which comprises of optimality analysis and performance evaluation steps. In the case of optimality analysis, random sizes of battery and converter (scenarios) are generated using Monte Carlo simulations and their results are compared with the results of sizes obtained from sizing methods. In order to carry out this analysis, two performance analysis indices are proposed in this study, which are named the cost index and the power index. These indices respectively determine the performance of the determined sizes in terms of total network cost and performance ratio of power bought during peak intervals and investment cost of the ESS. During performance evaluation, the performance of the determined sizes (battery and converter) are analyzed for different seasons of the year and typical public holidays. Typical working days and holidays have been analyzed for each season of the year and suitability of the determined sizes is analyzed. Simulation results have proved that the proposed method is suitable for determining the optimality of results obtained by different sizing methods.

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42

Hernández-Lerma, Onésimo, Oscar Vega-Amaya, and Guadalupe Carrasco. "Sample-Path Optimality and Variance-Minimization of Average Cost Markov Control Processes." SIAM Journal on Control and Optimization 38, no. 1 (1999): 79–93. http://dx.doi.org/10.1137/s0363012998340673.

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Vega-Amaya, Oscar. "Sample path average optimality of Markov control processes with strictly unbounded cost." Applicationes Mathematicae 26, no. 4 (1999): 363–81. http://dx.doi.org/10.4064/am-26-4-363-381.

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Garaeva, Esmira A., and Kamil B. Mansimov. "Necessary optimality condition in one discrete control problem from nondifferentiable control cost." Vestnik Tomskogo gosudarstvennogo universiteta. Upravlenie, vychislitel'naya tekhnika i informatika, no. 38 (March 1, 2017): 4–10. http://dx.doi.org/10.17223/19988605/38/1.

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Perera, Sandun, Ganesh Janakiraman, and Shun-Chen Niu. "Optimality of ( s , S ) policies in EOQ models with general cost structures." International Journal of Production Economics 187 (May 2017): 216–28. http://dx.doi.org/10.1016/j.ijpe.2016.09.017.

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Di Giacinto, Marina, and Elena Vigna. "On the sub-optimality cost of immediate annuitization in DC pension funds." Central European Journal of Operations Research 20, no. 3 (2011): 497–527. http://dx.doi.org/10.1007/s10100-011-0221-8.

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Adamu, A., B. L. Karihaloo, and G. I. N. Rozvany. "Minimum cost design of reinforced concrete beams using continuum-type optimality criteria." Structural Optimization 7, no. 1-2 (1994): 91–102. http://dx.doi.org/10.1007/bf01742512.

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Atar, Rami, Chanit Giat та Nahum Shimkin. "On the asymptotic optimality of the cμ/θ rule under ergodic cost". Queueing Systems 67, № 2 (2010): 127–44. http://dx.doi.org/10.1007/s11134-010-9206-x.

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Ruhe, G., та B. Fruhwirth. "ε-Optimality for bicriteria programs and its application to minimum cost flows". Computing 44, № 1 (1990): 21–34. http://dx.doi.org/10.1007/bf02247962.

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Bertrand, Philippe, and Jean-luc Prigent. "On the optimality of path-dependent structured funds: The cost of standardization." European Journal of Operational Research 277, no. 1 (2019): 333–50. http://dx.doi.org/10.1016/j.ejor.2019.02.003.

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