The risk-averse ultimate pit problem

被引:0
|
作者
Gianpiero Canessa
Eduardo Moreno
Bernardo K. Pagnoncelli
机构
[1] Universidad Adolfo Ibáñez,Ph.D. Program on Industrial Engineering and Operations Research
[2] KTH,Faculty of Engineering and Sciences
[3] Universidad Adolfo Ibáñez,School of Business
[4] Universidad Adolfo Ibáñez,undefined
来源
关键词
Ultimate pit; Mining; Risk-averse optimization; Integer programming;
D O I
暂无
中图分类号
学科分类号
摘要
In this work, we consider a risk-averse ultimate pit problem where the grade of the mineral is uncertain. We derive conditions under which we can generate a set of nested pits by varying the risk level instead of using revenue factors. We propose two properties that we believe are desirable for the problem: risk nestedness, which means the pits generated for different risk aversion levels should be contained in one another, and additive consistency, which states that preferences in terms of order of extraction should not change if independent sectors of the mine are added as precedences. We show that only an entropic risk measure satisfies these properties and propose a two-stage stochastic programming formulation of the problem, including an efficient approximation scheme to solve it. We illustrate our approach in a small self-constructed example, and apply our approximation scheme to a real-world section of the Andina mine, in Chile.
引用
收藏
页码:2655 / 2678
页数:23
相关论文
共 50 条
  • [1] The risk-averse ultimate pit problem
    Canessa, Gianpiero
    Moreno, Eduardo
    Pagnoncelli, Bernardo K.
    [J]. OPTIMIZATION AND ENGINEERING, 2021, 22 (04) : 2655 - 2678
  • [2] The Risk-averse Profitable Tour Problem
    Bruni, Maria Elena
    Brusco, Lorenzo
    Ielpa, Giuseppe
    Beraldi, Patrizia
    [J]. ICORES: PROCEEDINGS OF THE 8TH INTERNATIONAL CONFERENCE ON OPERATIONS RESEARCH AND ENTERPRISE SYSTEMS, 2019, : 459 - 466
  • [3] Risk-averse decision making in overbooking problem
    Xiong, H.
    Xie, J.
    Deng, X.
    [J]. JOURNAL OF THE OPERATIONAL RESEARCH SOCIETY, 2011, 62 (09) : 1655 - 1665
  • [4] The Risk-Averse Static Stochastic Knapsack Problem
    Merzifonluoglu, Yasemin
    Geunes, Joseph
    [J]. INFORMS JOURNAL ON COMPUTING, 2021, 33 (03) : 931 - 948
  • [5] The risk-averse traveling repairman problem with profits
    Beraldi, P.
    Bruni, M. E.
    Lagana, D.
    Musmanno, R.
    [J]. SOFT COMPUTING, 2019, 23 (09) : 2979 - 2993
  • [6] Risk-averse Merton's Portfolio Problem
    Pfeiffer, Laurent
    [J]. IFAC PAPERSONLINE, 2016, 49 (08): : 266 - 271
  • [7] The risk-averse newsvendor problem with random capacity
    Wu, Meng
    Zhu, Stuart X.
    Teunter, Ruud H.
    [J]. EUROPEAN JOURNAL OF OPERATIONAL RESEARCH, 2013, 231 (02) : 328 - 336
  • [8] A risk-averse solution for the prescribed burning problem
    Leon, Javier
    Vitoriano, Begona
    Hearne, John
    [J]. SAFETY SCIENCE, 2023, 158
  • [9] The risk-averse traveling repairman problem with profits
    P. Beraldi
    M. E. Bruni
    D. Laganà
    R. Musmanno
    [J]. Soft Computing, 2019, 23 : 2979 - 2993
  • [10] A benchmark solution for the risk-averse newsvendor problem
    Keren, Baruch
    Pliskin, Joseph S.
    [J]. EUROPEAN JOURNAL OF OPERATIONAL RESEARCH, 2006, 174 (03) : 1643 - 1650