References
- Ahmed, S., King, A.J. and Parija, G. (2003) A multi-stage stochastic integer programming approach for capacity expansion under uncertainty. Journal of Global Optimization, 26(1), 3–24. https://doi.org/10.1023/A:1023062915106
- Ahmed, S., Tawarmalani, M. and Sahinidis, N.V. (2004) A finite branch-and-bound algorithm for two-stage stochastic integer programs. Mathematical Programming, 100(2), 355–377. https://doi.org/10.1007/s10107-003-0475-6
- Angelus, A., Porteus, E. and Wood, S.C. (2000) Optimal sizing and timing of modular capacity expansions. Research paper, 1479R2, Graduate School of Business. Stanford University, California, United States. Available at http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.531.314&rep=rep1&type=pdf [Accessed 16 March 2018].
- Antos, A., Szepesvári, C. and Munos, R. (2008) Fitted Q-iteration in continuous action-space MDPs, in J.C. Platt, D. Koller, Y. Singer, and S. T. Roweis (eds.), Advances in Neural Information Processing Systems20, Curran Associates, Inc., pp. 9–16. Retrieved from http://papers.nips.cc/paper/3233-fitted-q-iteration-in-continuous-action-space-mdps.pdf [Accessed 16 March 2018].
- Bassamboo, A., Randhawa, R.S. and van Mieghem, J.A. (2010) Optimal flexibility configurations in newsvendor networks: Going beyond chaining and pairing. Management Science, 56(8), 1285–1303. https://doi.org/10.1287/mnsc.1100.1184
- Bean, J.C., Higle, J.L. and Smith, R.L. (1992) Capacity expansion under stochastic demands. Operations Research, 40(3, Suppl. 2), S210–S216. https://doi.org/10.1287/opre.40.3.S210
- Benson, H.P. (1995) Concave minimization: Theory, applications and algorithms, in Handbook of Global Optimization, Springer, Boston, MA, pp. 43–148. https://doi.org/10.1007/978-1-4615-2025-2_3
- Cardin, M.-A. and Hu, J. (2015) Analyzing the tradeoffs between economies of scale, time-value of money, and flexibility in design under uncertainty: Study of centralized versus decentralized waste-to-energy systems. Journal of Mechanical Design, 138(1), 011401–011401. https://doi.org/10.1115/1.4031422
- Cardin, M.-A., Xie, Q., Ng, T.S., Wang, S. and Hu, J. (2017) An approach for analyzing and managing flexibility in engineering systems design based on decision rules and multistage stochastic programming. IISE Transactions, 49(1), 1–12. https://doi.org/10.1080/0740817X.2016.1189627
- Cardin, M.-A., Zhang, S. and Nuttall, W.J. (2017) Strategic real option and flexibility analysis for nuclear power plants considering uncertainty in electricity demand and public acceptance. Energy Economics, 64, 226–237. https://doi.org/10.1016/j.eneco.2017.03.023
- Chen, T.-L. and Lu, H.-C. (2012) Stochastic multi-site capacity planning of TFT-LCD manufacturing using expected shadow-price based decomposition. Applied Mathematical Modelling, 36(12), 5901–5919. https://doi.org/10.1016/j.apm.2012.01.037
- de Neufville, R., Scholtes, S. and Wang, T. (2006) Real options by spreadsheet: Parking garage case example. Journal of Infrastructure Systems, 12(2), 107–111. https://doi.org/10.1061/(ASCE)1076-0342(2006)12:2(107)
- Dixit, A.K. and Pindyck, R.S. (1994) Investment Under Uncertainty, Princeton University Press, Princeton, NJ.
- Eberly, J.C. and van Mieghem, J.A. (1997) Multi-factor dynamic investment under uncertainty. Journal of Economic Theory, 75(2), 345–387. https://doi.org/10.1006/jeth.1996.2281
- Fontes, D.B.M.M. (2008) Fixed versus flexible production systems: A real options analysis. European Journal of Operational Research, 188(1), 169–184. https://doi.org/10.1016/j.ejor.2007.04.001
- Geng, N., Jiang, Z. and Chen, F. (2009) Stochastic programming based capacity planning for semiconductor wafer fab with uncertain demand and capacity. European Journal of Operational Research, 198(3), 899–908. https://doi.org/10.1016/j.ejor.2008.09.029
- Huang, K. and Ahmed, S. (2009) The value of multistage stochastic programming in capacity planning under uncertainty. Operations Research, 57(4), 893–904. https://doi.org/10.1287/opre.1080.0623
- Keha, A.B., de Farias, I.R., Jr., and Nemhauser, G.L. (2004) Models for representing piecewise linear cost functions. Operations Research Letters, 32(1), 44–48. https://doi.org/10.1016/S0167-6377(03)00059-2
- Laporte, G. and Louveaux, F.V. (1993) The integer L-shaped method for stochastic integer programs with complete recourse. Operations Research Letters, 13(3), 133–142. https://doi.org/10.1016/0167-6377(93)90002-X
- Lu, L.X. and van Mieghem, J.A. (2009) Multimarket facility network design with offshoring applications. Manufacturing & Service Operations Management, 11(1), 90–108. https://doi.org/10.1287/msom.1070.0198
- Luss, H. (1982) Operations research and capacity expansion problems: A survey. Operations Research, 30(5), 907–947. https://doi.org/10.1287/opre.30.5.907
- Manne, A.S. (1961) Capacity expansion and probabilistic growth. Econometrica, 29(4), 632–649. https://doi.org/10.2307/1911809
- Martínez-Costa, C., Mas-Machuca, M., Benedito, E. and Corominas, A. (2014) A review of mathematical programming models for strategic capacity planning in manufacturing. International Journal of Production Economics, 153, 66–85. https://doi.org/10.1016/j.ijpe.2014.03.011
- Munos, R. and Szepesvári, C. (2008) Finite-time bounds for fitted value iteration. Journal of Machine Learning Research, 9(5), 815–857.
- Neufville, R.D. and Scholtes, S. (2011) Flexibility in Engineering Design, MIT Press, Cambridge, MA.
- Pratikakis, N.E., Realff, M.J. and Lee, J.H. (2010) Strategic capacity decision-making in a stochastic manufacturing environment using real-time approximate dynamic programming. Naval Research Logistics, 57(3), 211–224. https://doi.org/10.1002/nav.20384
- Qi, Y. and Sen, S. (2017) The Ancestral Benders' cutting plane algorithm with multi-term disjunctions for mixed-integer recourse decisions in stochastic programming. Mathematical Programming, 161(1–2), 193–235. https://doi.org/10.1007/s10107-016-1006-6
- Robbins, H. and Monro, S. (1951) A stochastic approximation method. The Annals of Mathematical Statistics, 22(3), 400–407.
- Sen, S. (2011) Stochastic mixed-integer programming algorithms: Beyond Benders' decomposition, in J. J. Cochran, L. A. Cox, P. Kharoufeh, and J. P. Kharoufeh et al. (eds.), Wiley Encyclopedia of Operations Research and Management Science, Wiley. Available at http://onlinelibrary.wiley.com/doi/10.1002/9780470400531.eorms0232/full [Accessed 16 March 2018].
- Sen, S. and Sherali, H.D. (2006) Decomposition with branch-and-cut approaches for two-stage stochastic mixed-integer programming. Mathematical Programming, 106(2), 203–223. https://doi.org/10.1007/s10107-005-0592-5
- Shapiro, A. (2010) Computational complexity of stochastic programming: Monte Carlo sampling approach, in Proceedings of the International Congress of Mathematicians, Hindustan Book Agency (HBA), India, volume 4, pp. 2979–2995. Available at http://www.isye.gatech.edu/people/faculty/Alex_Shapiro/ICM2010.pdf [Accessed 16 March 2018].
- Shapiro, A. and Dentcheva, D. (2014) Lectures on Stochastic Programming: Modeling and Theory, second edition, SIAM, Philadelphia, PA.
- Shapiro, A., Dentcheva, D. and Ruszczyński, A.P. (2009) Lectures on Stochastic Programming: Modeling and Theory, SIAM, Philadelphia, PA.
- Swaminathan, J.M. (2002) Tool procurement planning for wafer fabrication facilities: A scenario-based approach. IIE Transactions, 34(2), 145–155.
- Taghavi, M. and Huang, K. (2016) A multi-stage stochastic programming approach for network capacity expansion with multiple sources of capacity. Naval Research Logistics, 63(8), 600–614. https://doi.org/10.1002/nav.21726
- Trigeorgis, L. (1996) Real Options: Managerial Flexibility and Strategy in Resource Allocation, MIT Press, Cambridge, MA.
- Van Mieghem, J.A. (1998) Investment strategies for flexible resources. Management Science, 44(8), 1071–1078. https://doi.org/10.1287/mnsc.44.8.1071
- Van Mieghem, J.A. (2003) Commissioned Paper: Capacity management, investment, and hedging: Review and recent developments. Manufacturing & Service Operations Management, 5(4), 269–302. https://doi.org/10.1287/msom.5.4.269.24882
- Wu, C.-H. and Chuang, Y.-T. (2010) An innovative approach for strategic capacity portfolio planning under uncertainties. European Journal of Operational Research, 207(2), 1002–1013. https://doi.org/10.1016/j.ejor.2010.05.015
- Wu, C.-H. and Chuang, Y.-T. (2012) An efficient algorithm for stochastic capacity portfolio planning problems. Journal of Intelligent Manufacturing, 23(6), 2161–2170. https://doi.org/10.1007/s10845-011-0562-0
- Zhao, S., Haskell, W.B. and Cardin, M.-A. (2017) An approximate dynamic programming approach for multi-facility capacity expansion problem with flexibility design, in Proceedings of the 2017 Industrial and Systems Engineering Research Conference, Institute of Industrial and Systems Engineers (IISE), Norcross, pp. 440–445.