Modelling generation capacity margin as a dynamic control problem
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Transmission System Operators (TSOs) deploy frequency control reserves and regulating power to maintain the load-generation balance in real-time operation of power systems. In the Nordic countries, the TSOs buy regulating power from the Nord Pool regulatin ...
The WORLD6 model is a fully integrated dynamic world systems model. It includes a biophysical global economic model, based on first principles of physics and thermodynamics, forcing it to be fully consistent with the underlying mass- and energy balances. T ...
Paul Scherrer Institute, World Resources Forum2019
The extraction, supply, market price and recycling of the metals used for superalloys were modelled using the systems dynamics model WORLD6. Peak production per capita (Supply Security) and stock-in-use per capita (Utility of Use) as well as resource stock ...
Paul Scherrer Institute, World Resources Forum2019
Considering the sequential clearing of energy and reserves in Europe, enabling inter-area reserve exchange requires optimally allocating inter-area transmission capacities between these two markets. To achieve this, we provide a market-based allocation fra ...
Many transportation markets are characterized by oligopolistic competition. In these markets customers, suppliers and regulators make decisions that are influenced by the preferences and the decisions of all other agents. In particular, capturing and under ...
Traditional competitive markets do not account for negative externalities; indirect costs that some participants impose on others, such as the cost of over-appropriating a common-pool resource (which diminishes future stock, and thus harvest, for everyone) ...
In this paper, we propose an analytical stochastic dynamic programming (SDP) algorithm to address the optimal management problem of price-maker community energy storage. As a price-maker, energy storage smooths price differences, thus decreasing energy arb ...
This introductory, along with the eight articles contained within this Special Issue, highlights and brings greater clarity to entrant-incumbent interactions and to firm movement - when entrants traverse market territories for the creation and/or delivery ...
We use the database leak of Mt. Gox exchange to analyze the dynamics of the price of bitcoin from June 2011 to November 2013. This gives us a rare opportunity to study an emerging retail-focused, highly speculative and unregulated market with trader identi ...
This thesis develops equilibrium models, and studies the effects of market frictions on risk-sharing, derivatives pricing, and trading patterns.In the chapter titled "Imbalance-Based Option Pricing", I develop an equilibrium model of fragmented options m ...