11,372 research outputs found
Review of the Proposed Reserve Markets in New England
ISO New England proposes reserve markets designed to improve the existing forward reserve market and improve pricing during real-time reserve shortages. We support all of the main elements of the proposal. For example, we agree that little is gained by allowing reserve availability bids in the day-ahead market. Doing so greatly increases the complexity of the market without the prospect of more efficient pricing. Rather, offline reserves are most efficiently priced and awarded well in advance, as is done by the improved forward reserve market.Auctions; Multiple Object Auctions; Electricity Auctions
Welcome to OR&S! Where students, academics and professionals come together
In this manuscript, an overview is given of the activities done at the Operations Research and Scheduling (OR&S) research group of the faculty of Economics and Business Administration of Ghent University. Unlike the book published by [1] that gives a summary of all academic and professional activities done in the field of Project Management in collaboration with the OR&S group, the focus of the current manuscript lies on academic publications and the integration of these published results in teaching activities. An overview is given of the publications from the very beginning till today, and some of the topics that have led to publications are discussed in somewhat more detail. Moreover, it is shown how the research results have been used in the classroom to actively involve students in our research activities
Update or Wait: How to Keep Your Data Fresh
In this work, we study how to optimally manage the freshness of information
updates sent from a source node to a destination via a channel. A proper metric
for data freshness at the destination is the age-of-information, or simply age,
which is defined as how old the freshest received update is since the moment
that this update was generated at the source node (e.g., a sensor). A
reasonable update policy is the zero-wait policy, i.e., the source node submits
a fresh update once the previous update is delivered and the channel becomes
free, which achieves the maximum throughput and the minimum delay.
Surprisingly, this zero-wait policy does not always minimize the age. This
counter-intuitive phenomenon motivates us to study how to optimally control
information updates to keep the data fresh and to understand when the zero-wait
policy is optimal. We introduce a general age penalty function to characterize
the level of dissatisfaction on data staleness and formulate the average age
penalty minimization problem as a constrained semi-Markov decision problem
(SMDP) with an uncountable state space. We develop efficient algorithms to find
the optimal update policy among all causal policies, and establish sufficient
and necessary conditions for the optimality of the zero-wait policy. Our
investigation shows that the zero-wait policy is far from the optimum if (i)
the age penalty function grows quickly with respect to the age, (ii) the packet
transmission times over the channel are positively correlated over time, or
(iii) the packet transmission times are highly random (e.g., following a
heavy-tail distribution)
Online Service with Delay
In this paper, we introduce the online service with delay problem. In this
problem, there are points in a metric space that issue service requests
over time, and a server that serves these requests. The goal is to minimize the
sum of distance traveled by the server and the total delay in serving the
requests. This problem models the fundamental tradeoff between batching
requests to improve locality and reducing delay to improve response time, that
has many applications in operations management, operating systems, logistics,
supply chain management, and scheduling.
Our main result is to show a poly-logarithmic competitive ratio for the
online service with delay problem. This result is obtained by an algorithm that
we call the preemptive service algorithm. The salient feature of this algorithm
is a process called preemptive service, which uses a novel combination of
(recursive) time forwarding and spatial exploration on a metric space. We hope
this technique will be useful for related problems such as reordering buffer
management, online TSP, vehicle routing, etc. We also generalize our results to
servers.Comment: 30 pages, 11 figures, Appeared in 49th ACM Symposium on Theory of
Computing (STOC), 201
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