DECIDE
Financiado
Machine learning for decision making under uncertainty
Many important decisions are taken under uncertainty since we do not know the development of various parameters. In particular the ongoing green transition requires large and urgent societal investments in new energy modes, infras...
Many important decisions are taken under uncertainty since we do not know the development of various parameters. In particular the ongoing green transition requires large and urgent societal investments in new energy modes, infrastructure and technology. The decisions are spanning over a very long time-horizon, and there are large uncertainty towards energy prices, demand of energy, and production from renewable sources. Such problem can be described as two-stage stochastic optimization problems, where we first decide which facilities to establish, and then we have to schedule the production/transportation for a stochastic demand, using the given facilities. If the decision variables are discrete, such problems are extremely difficult to solve. In this project we will develop a new framework for investment decision making under uncertainty based on a combination of machine learning and operations research. Instead of solving a complex stochastic optimization problem defined on a fixed set of forecasted scenarios, we propose to use an iterative process: We repeatedly generate new scenarios, solve them using advanced optimization methods, and find the corresponding investment solutions. Our novel way of optimization will use deep generative models (DGMs) to generate small sets of scenarios matching the real distribution, and use a guided local search process to select scenarios that properly reflect properties of the full set of scenarios. The outcome of the iterative process is a palette of near-optimal solutions, which can be analyzed using data science methods to extract associations in investments, outrank dominated choices, and organize investments according to urgency. Knowing the full spectrum of possible choices opens up for a much broader discussion of investments, while allowing soft constraints to also be taken into account. This will enable a more transparent and inclusive decision process, while ensuring well-founded and more robust investment decisions.
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Duración del proyecto: 65 meses
Fecha Inicio: 2023-07-16
Fecha Fin: 2028-12-31
Fecha Fin: 2028-12-31
Línea de financiación: concedida
El organismo HORIZON EUROPE notifico la concesión del proyecto el día 2023-07-16
Línea de financiación objetivo
El proyecto se financió a través de la siguiente ayuda:
ERC-2022-ADG:
ERC ADVANCED GRANTS
Cerrada
hace 2 años
Presupuesto
El presupuesto total del proyecto asciende a
2M€
Líder del proyecto
DANMARKS TEKNISKE UNIVERSITET
No se ha especificado una descripción o un objeto social para esta compañía.
Perfil tecnológico
TRL
4-5
Perfil tecnológico
TRL
4-5