MATEC Web Conf.
Volume 192, 2018The 4th International Conference on Engineering, Applied Sciences and Technology (ICEAST 2018) “Exploring Innovative Solutions for Smart Society”
|Number of page(s)||4|
|Section||Track 3: Food, Chemical and Agricultural Engineering|
|Published online||14 August 2018|
A complementarity-based equilibrium model of biodiesel market, in Thailand
Department of Civil Engineering, Faculty of Engineering, King Mongkut’s Institute of Technology Ladkrabang, Bangkok, Thailand
* Corresponding author: email@example.com
This paper presents a complementarity-based model making a decision for energy production in biodiesel market. This model has three strategic players complete against each other on the biodiesel productions. All three players make up biodiesel from agricultural products and they are price-takers. The first player represents producers who produce and sell biodiesel from palm oil. The second and third players produce and sell biodiesel from coconut oil and soybean oil, respectively. The strategic player’s decisions involve quantities of palm, coconut and soybean oil related with the market price. This paper uses operation research to optimize a decision maker’s objectives within the limits of available agricultural products and also provide results for sustainable energy production.
© The Authors, published by EDP Sciences, 2018
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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