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We couple top-down and bottom-up models to analyse electricity markets. We simulate energy policies under alternative regulatory assumptions. We shows that market liberalisation affects the links between generation costs and user prices. We show that the c ...
Energy market liberalization is changing pricing mechanisms for wholesale electricity. This work shows that it is essential to appreciate and mirror these changes in the modeling of electricity markets for policy assessment. We develop a framework composed ...
Electronic intermediaries have become pervasive in sales transactions for many durables, such as cars, power tools, and apartments. Yet only recently have they successfully tackled the challenge of enabling parties to share such goods. A key impediment to ...
The aim of this paper is to analyze and to improve the current planning process of the passenger railway service. At first, the state-of-the-art in research is presented. However, given the recent changes in legislature allowing competitors in the railway ...
We study equilibria of dynamic over-the-counter markets in which agents are distinguished by their preferences and information. Over time, agents are privately informed by bids and offers. Investors differ with respect to information quality, including ini ...
The contribution of this paper is twofold. First, it presents the results of a "history-friendly" simulation model of evolution of the pharmaceutical industry. Second, it aims at contributing to a more general methodological discussion about agent-based mo ...
Wave control in the solid state has opened new avenues in modern information technology. Surface-acoustic-wave-based devices are found as mass market products in 100 millions of cellular phones. Spin waves (magnons) would offer a boost in today's data hand ...
In airline schedule planning models, the demand and price information are usually taken as inputs to the model. Therefore, schedule and capacity decisions are taken separately from pricing decisions. In this article, we present an integrated scheduling, fl ...
We study the pricing and hedging of contingent claims that are subject to Event Risk which we define as rare and unpredictable events whose occurrence may be correlated to, but cannot be hedged perfectly with standard marketed instruments. The super-replic ...
In the Factories of the Future framework, cutting-edge ICT developments have been accomplished by the industry, triggering new professional needs, which lead to new learning and training needs and new roles, especially regarding high-skilled labor force. U ...