haku: @author Owen, S. S. / yhteensä: 1
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| Tekijä: | Owen, S. S. Wan, S. H. |
| Otsikko: | Optimal strategic petroleum reserve policies : a steady state analysis. |
| Lehti: | Management Science
1986 : JAN, VOL. 32:1, p. 14-29 |
| Asiasana: | PETROLEUM INDUSTRY RESOURCE MANAGEMENT DYNAMIC PROGRAMMING |
| Kieli: | eng |
| Tiivistelmä: | The object is to introduce a new model for analyzing oil stockpiling policies which is comparable in its computational simplicity with the simple two-period models, and yet captures the important features of the stochastic dynamic programming formulation. In particular, the model captures the uncertainty in the duration of interruptions and time between interruptions. It allows to determine the optimal size, fillup, and drawdown rates for a Strategic Petroleum Reserve under a variety of supply and demand conditions. The main advantage of the approach is that it permits extensive sensitivity analysis. |
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