A Newsboy Approach to Real-Time Reservoir Operation Modelling

This investigation focuses on the use of mathematical programming techniques to develop a model for scheduling, in real-time, the releases from a single reservoir via a probabilistic approach based on the classical Inventory Theory problem called the Newsboy or Christmas-Tree problem. The theoretical development of such a model is presented and the probabilistic objective function is discussed. The objective is to minimize the sum of expected deviations from the statistically ideal operating levels.