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This thesis develops models for three problems of liquidity under asymmetric information.
In the chapter "Disclosures, Rollover Risk, and Debt Runs" I build a model of dynamic debt
runs without perfect information in order to understand the impact of asset ...
This thesis develops three models that study the motivation of various agents to take on debt,
and the impact that excessive financial leverage can have on social welfare.
In the chapter "Short-term Bank Leverage and the Value of Liquid Reserves", the ince ...
Decision making in electricity markets under uncertainty has worldwide gained attention due to an increasing number of uncertain parameters associated to technology developments and market evolution. Hence, the market operator faces new challenges pertaini ...
Uncertainty levels in forecasting of renewable generation and demand are known to affect the amount of reserve required to operate the power grid with a given level of reliability. In this paper, we quantify the effects on the system reserve and reliabilit ...
This paper presents a real-world application of stochastic programming in the Swiss hydro-based system. The seasonal hydrological conditions may cause insufficient market volume to an extent that security criteria (i.e., the criteria determining of reserve ...
Global energy systems are changing rapidly. This energy transition complicates the use of traditional policy analysis methods. However, proper policy analysis and design is essential in managing the transition. This thesis takes an interdisciplinary approa ...
Stéphane Joost (research and teaching associate at LASIG) shares his experience in data publication. It includes three cases with unexpected facets: - Publishers’ requirements: what to do when publishing data is compulsory, whereas the data provider prohib ...
This paper proposes an appropriate offering strategy method for an electric railway company (ERC) to participate in reserve markets. In this respect, first the problem of energy and reserve scheduling for the ERC is modeled in a deterministic way. Next, a ...
A linear programming framework is proposed to model distribution network characteristics, and market clearing processes for flexible load and distributed energy resources providing reserve and reactive power compensation. One shows that the Nash equilibriu ...
This thesis examines the effects of financing frictions on corporate decisions using dynamic models. Accounting for financing frictions helps reconcile a number of regularities that are hard to explain within the Modigliani-Miller framework. For instance, ...
