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The optimization results reveal that the unit production cost of the hydrocarbon biofuels is $2.31 per gallon of gasoline equivalent (GGE) for the maximum NPV solution and $3.67/GGE for the minimum GWP design.
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The NPV answer is simply along the lines of "the courts will decide".
Looking at the NPVs of the solutions suggests that those solutions that propose intervals other than 10 years may be sub-optimal, i.e., the algorithm has converged to local optimum.
The best solution (highest NPV) was taken as the optimal solution.
On the basis of that production profile, this module performs the NPV calculation for each solution generated.
Moreover, preliminary analyses showed that parameter a 3 could be fixed to a 3 = 1 (i.e. a 3 could be removed) without any notable deterioration of the NPV of the optimal solution.
Altering the referral criteria, to refer children with UVA worse than 6/12, improved the PPV without affecting the NPV and this simple solution should be further investigated.
This simple function has been found to result in almost as good solutions (in terms of NPV) as optimizing the harvest intensities of different diameter classes separately (Pukkala et al. 2014).
In the anticipatory optima for mixed stands there are 21 decision variables and yet the expected NPV is clearly better for the adaptive solution defined by only 3 decision variables.
Correspondingly, fixing parameter a 1 to 1 should decrease the simulated NPVs, compared to adaptive solutions where a 1 was optimized, but this did not happen always.
The analysis considers Greece and each region separately, taking net present value (NPV) as an objective measure to assess the solutions.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com