sharp increase in oil price and the volatility in recent decades have attracted most researchers towards the field of energy. it seems not only the direct oil price, but also the uncertainty caused by the oil price volatility affect the raw oil supply. in this research the effect of oil price volatility on oil supply has been estimated using monthly time series data from january 1980 to septemb...

We study the price competition of two supply chains with demand uncertainty. Each supply chain consists of one risk-averse manufacturer and one risk-averse retailer. We consider two cases: two competing decentralized supply chains and two competing integrated supply chains. We analyze the effects of the demand uncertainty on the supply chains’ expected profits. In the first case, we find that t...

Monetary policy is conducted in an environment of considerable uncertainty. In particular, Bernanke (2007) emphasizes that monetary authority faces substantial challenges in determining the sources of variation in macroeconomic variables. What can policy-makers do when supply and demand disturbances are unobserved and indistinguishable? Is a policy rule widely conducted otherwise still appropri...

The short-term unit commitment and reserve scheduling decisions are made in the face of increasing supply-side uncertainty in power systems. This has mainly been caused by a higher penetration of renewable energy generation that is encouraged and enforced by the market and policy makers. In this paper, we propose a two-stage stochastic and distributionally robust modeling framework for the unit...