Dimitri Papageorgiou: Pooling problems under perfect and imperfect competition
Abstract: We investigate pooling problems in which multiple players vie with one another to maximize individual profit in a non-cooperative competitive market. This competitive setting is interesting and worthy of study because the majority of prevailing process systems engineering models largely overlook the non-cooperative strategies that exist in real-world markets. In this talk, we provide a gentle overview of pooling problems in which each player controls a processing network involving intermediate tanks (or pools) where raw materials are blended together before being further combined into final products. Each player then solves a pure or mixed-integer bilinear optimization problem whose profit is influenced by other players. We present several bilevel formulations and numerical results of a novel decomposition algorithm. We demonstrate that our provably optimal decomposition algorithm can handle some of the largest bilevel optimization problems with nonconvex lower-level problems ever considered in the literature.
Link to arxiv preprint: http://arxiv.org/abs/2110.03018
Time: Thu 2021-11-11 15.00 - 16.00
Location: Zoom room 63658381373
Participating: Dimitri Papageorgiou
Short Bio: Dimitri has been a member of the Data Analytics & Optimization section within ExxonMobil Corporate Strategic Research (CSR) since 2012. He has worked on a number of upstream, downstream, and corporate projects, and currently leads CSR’s power systems modeling effort and the value chain optimization team. With his collaborators at major universities including Carnegie Mellon, Georgia Tech, MIT, University of Texas-Austin, and Toronto, he has explored methodological advances in stochastic and discrete optimization. He earned a B.S. in Mathematics from UNC-Chapel Hill, an M.S. in Operations Research and Industrial Engineering from UT-Austin, and a Ph.D. in Operations Research from Georgia Tech.
We have booked seminar room 3721 for those who wants to attend the seminar together and we will use the projector