Teaching and Research Interests:
- Commodity and Energy Merchant Operations, Real Options and Financial Engineering in Commodity and Energy Industries, Operations-Finance Interface, Revenue Management, Supply Chain Management, Logistics
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Published Papers:
- Preface to the Special Issue on Energy Modeling
Socio-Economic Planning Sciences 47(2), 2013; 75.
(with: Jay Apt)
- Strategic Analysis of Technology and Capacity Investments in the
Lique fied Natural Gas Industry
European Journal of Operational Research 226, 2013; 100-114.
(with: Erkut Sonmez, Sunder Kekre, Alan Scheller-Wolf)
- A Computational Approach to the Real Option Management of Network Contracts for Natural Gas Pipeline Transport Capacity
Manufacturing & Service Operations Management 14, 2012; 441-454.
(with: Mulan Wang)
- An Opportunity Cost View of Basestock Optimality for the Warehouse Problem
Handbook of Integrated Risk Management Chapter 16, 2012; 447-461.
- Revenue Management with Bargaining
Operations Research 59, 2011; 498-506.
(with: Atul Bhandari)
- Valuation of Storage at a Liquefied Natural Gas Terminal
Operations Research 59, 2011; 602-616.
(with: Mulan Wang, Sunder Kekre, Alan Scheller-Wolf)
- Interaction between Technology and Extraction Scaling Real Options in Natural Gas Production
IIE Transactions 42, 2010; 643 - 655.
(with: Paul Enders, Alan Scheller-Wolf)
- An Approximate Dynamic Programming Approach to Benchmark Practice-based Heuristics for Natural Gas Storage Valuation
Operations Research 58, 2010; 564-582.
(with: Guoming Lai, François Margot)
- Optimal Commodity Trading with a Capacitated Storage Asset
Management Science 56, 2010; 449-467.
- On the Pricing of Natural Gas Pipeline Capacity
Manufacturing and Service Operations Management 12, 2010; 393-408.
- Teaching Demand Management
and Price Optimization
in the MBA Program
at the Carnegie Mellon
Tepper School of Business
INFORMS Transactions on Education 9, 2009; 99-108.
- Balancing Risk and Efficiency at a Major Commercial Bank
Manufacturing and Service Operations Management 11, 2009; 160-173.
(with: Sunder Kekre, Erkut Sonmez, Kenneth West)
- Reoptimization Approaches for the Vehicle Routing Problem with Stochastic Demands
Operations Research 57, 2009; 214-230.
(with: François Margot)
- An Analysis of the Control-Algorithm Re-solving Issue in Inventory and Revenue Management
Manufacturing and Service Operations Management 10, 2008; 468-483.
- Analysis of a Rollout Approach to Sequencing Problems with Stochastic Routing Applications
Journal of Heuristics 9, 2003; 321-352.
- From Revenue Management Concepts to Software Systems
Interfaces 32(2), 2002; 1-11.
(with: K. Abbott, T. Atan, E. Boyd)
- A Rollout Policy for the Vehicle Routing Problem with Stochastic Demands
Operations Research 49, 2001; 796-802.
- Dissertation Abstract – Exact and Heuristic Dynamic Programming Algorithms for the Vehicle Routing Problem with Stochastic Demands
Transportation Science 34(1), 2000; 126-127.
- Comparing Neuro-Dynamic Programming Algorithms for the Vehicle Routing Problem with Stochastic Demands
Computers and Operations Research 27, 2000; 1201-1225.
Working Papers:
- Merchant Operations: Real Option Management of Commodity and Energy Conversion Assets
May, 2013.
(with: Duane Seppi)
- Relaxations of Approximate Linear Programs for the Real Option Management of Commodity Storage
May, 2013.
(with: Selvaprabu Nadarajah, François Margot)
- Is It More Valuable to Store or Destroy Electricity Surpluses?
April, 2013.
(with: Yangfang Zhou, Alan Scheller-Wolf, Steve Smith)
- Joint Merchant Management of Natural Gas Storage and Transport Capacity
March, 2013.
(with: Selvaprabu Nadarajah)
For Further Information
- Managing Wind-based Electricity Generation in the Presence of Storage and Transmission Capacity
January, 2013.
(with: Yangfang Zhou, Alan Scheller-Wolf, Steve Smith)
- Optimal Energy Procurement in Spot and Forward Markets
January, 2013.
(with: Sunder Kekre)
- Valuation of Multiple Exercise Options with Energy Applications
September, 2012.
(with: Selvaprabu Nadarajah, François Margot)
- Real Option Management of Hydrocarbon Cracking Operations
September, 2012.
(with: Selvaprabu Nadarajah, Gary Sowers, John Wassick)
- Merchant Commodity Storage and Term Structure Model Error
September, 2012.
(with: François Margot, Alan Scheller-Wolf, Duane Seppi)
- The Role of Price Spreads and Reoptimization in the Real Option Management of Commodity Storage Assets
July, 2012.
- Optimal Managerial Compensation and Financial Hedging in Commodity Procurement
January, 2010.
(with: Masha Shunko, Laurens Debo, Lin Nan)
- An Analytical Approximation for the Throughput of a Closed Fork/Join Network with Multi-Station Input Subnetworks
October, 2009.
(with: Erkut Sonmez, Alan Scheller-Wolf)
- Operations Management and Business Pricing
December, 2007.
(with: Josh Johnson)
Publications:
- "Models, Methods, and Applications for Innovative Decision Making"
in M. P. Johnson, B. Norman and N. Secomandi (ed.) INFORMS Tutorials in Operations Research, Volume II, (2006).
- "Dynamic Pricing of Distillate Products at Petroleum Terminals"
in U. McMahon and I. Yeoman (ed.) Revenue Management and Pricing: Case Studies and Applications, Thompson Learning, UK, (2004).
(with: D. Harvey, T. Valkov)
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Awards:
- M&SOM Meritorious Service Award - 2012
- Winner of the INFORMS Energy, Natural Resources, and the Environment Section Best Publication Award in Energy - 2012
- Real Option Management of Commodity and Energy Conversion Assets, PI, Co-PI: F. Margot, National Science Foundation - 2011-2014
- Faculty Giving Chair, Tepper School of Business - 2010-2011
- Xerox Research Chair - 2008-2009
- CART Research Frontier Award - 2007
- Berkman Faculty Development Grant - 2007-2008
- Teaching Innovation Center Award, Tepper School of Business - 2006-2007
- CART Faculty Grant, Tepper School of Business - 2005-2006, 2008-2009
- BP Research Chair - 2004-2005
- Finalist, Junior Faculty Interest Group of INFORMS, Paper Competition - 2004
- Carnegie Bosch Institute Faculty Development Grant - 2003-2004
- Honorable mention, Transportation Science Section of INFORMS, Dissertation Prize - 1999
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Editorial Boards:
- Management Science (Associate Editor), 2012-
- Operations Research (Associate Editor), 2012-
- Manufacturing & Service Operations Management (Associate Editor), 2011-
- Management Science (Guest Associate Editor), 2011
- Socio-Economic Planning Sciences, Special Issue on Energy Modeling (Guest Editor, Co-Guest Editor: J. Apt), 2011-12
- Production & Operations Management (Senior Editor), 2010-
- Manufacturing & Service Operations Management (Guest Associate Editor), 2010
- Management Science, Special Issue on the Interfaces between Operations and Finance (Associate Editor), 2007-2011
- INFORMS Journal on Computing (Associate Editor), 2004-
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Consulting:
- EnWorkz
- Caterpillar
- Mellon Bank
- Cheniere Energy
- Cinergy
- Deloitte & Touche
- Equitable Gas
- GE Commercial Finance
- Georgia-Pacific RPC
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Courses Taught:
- Demand Management and Price Optimization (45830)
(Masters Program)- 2011, Mini 1 (Section: A)
- 2011, Mini 1 (Section: E)
- 2011, Mini 1 (Section: M)
- 2010, Mini 2 (Section: A)
- 2010, Mini 2 (Section: M)
- 2009, Mini 2 (Section: A)
- 2008, Mini 2 (Section: E)
- 2008, Mini 1 (Section: A)
- 2006, Mini 1 (Section: A)
- 2006, Mini 4 (Section: A)
- Supply Chain Management (45836)
(Masters Program)
- A Production Management ProjectEquitable Gas (45837)
(Masters Program)
- Demand Management and Price Optimization (45860)
(Masters Program)
- Supply Chain Management (45862)
(Masters Program)
- Risk Management Project (45979)
(Masters Program)
- Real Options (47769)
(Ph.D. Program)
- Production/Operations Management I (70371)
(BSBA Program)
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