Class 11

In this class we deal with important concepts such as "Expected Value of Perfect Information" and "Value of Stochastic Solution". We also study how to easily model and control risk aversion in a stochastic programming framework using the notion of Conditional Value-at-Risk (CVaR) and illustrate different criteria to evaluate the quality/performance of here-and-now decisions.

Furthermore, the class also involved the participation of Dr. Pierre-Julien Trombe, Senior R&D Researcher at Vattenfall Wind Power, who talked about the crucial role that analytical methods such as those involved in this course will play in addressing the major challenges of the energy sector of the future.