Abstract
The authors derive conditions under which the time-step, or the myopic, approach to generation capacity planning in the power industry yields solutions identical to the solution obtained by an equivalent dynamic model that views the capacity expansion program simultaneously over time. The conditions are derived for thermal power systems for which the capacity expansion program is formulated using a convex, nonlinear mathematical programming model.
| Original language | English |
|---|---|
| Pages (from-to) | 891-914 |
| Number of pages | 24 |
| Journal | Operations Research |
| Volume | 31 |
| Issue number | 5 |
| DOIs | |
| State | Published - 1983 |