Min-Max

Min-Max formulation is a common fairness mechanic utilized in communication system. It works by minimizing the worst case scenario amongst all the nodes in a system, For transmission and energy storage planning applications, we can utilize this fairness mechanic to bolster equity amongst the nodes in our system. For the project this is being utilized for, min-max formulation is used to minimize the worstcase load shedding across each bus in our system. The worst case in this situation being the highest load shedding cost, based on the value of lost load (VoLL) assigned to each bus.