Details of Grant 

EPSRC Reference:	GR/S90850/01
Title:	Stochastic Mathematical Programs with Equilibrium Constraints
Principal Investigator:	Xu, Professor H
Other Investigators:
Researcher Co-Investigators:
Project Partners:
Department:	School of Mathematics
Organisation:	University of Southampton
Scheme:	First Grant Scheme Pre-FEC
Starts:	11 October 2004	Ends:	10 October 2006	Value (£):	81,534
EPSRC Research Topic Classifications:	Mathematical Aspects of OR
EPSRC Industrial Sector Classifications:	Financial Services Energy
Related Grants:
Panel History:
Summary on Grant Application Form
A Stochastic Mathematical Program with Equilibrium Constraints (SMPEC) is a generalization of a Mathematical Programs with Equilibrium Constraints ;MPEC). MPEC has found extensive applications in areas of decision analysis, structural engineering, robotics, network design, discrete transit planning 3tc and have developed as a new area in optimization over the past decade. The underlying data in MPEC are deterministic. However, in many cases, some data may involve stochastic (uncertain) factors and this makes a case for SMPEC. Ignoring such stochastic factors may result in an optimal iecision being made on the basis of a particular market realization which is not realistic. The presence of stochastic factors in MPEC changes the problem nature and consequently there is a need to undertake a separate research on theoretical issues of the SMPEC such as existence of optimum and optimality conditions, and develop new methods for the solution of SMPEC. The project will involve the application of the model and proposed methods to deal with interesting practical problems.The research project will be carried out by the Principal Investigator and a Research Assistant based in the School of Mathematics, University of 'Southampton. It will be undertaken through literature-based theoretical research and computational work and investigation of interesting practical problems.The project will last for two years and the total cost is 71172.
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Organisation Website:	http://www.soton.ac.uk