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This thesis describes the development of three conceptual models built to serve as decision support tools in liberalised electricity markets. The introduction of competition, higher uncertainty and decentralised planning requires new planning and analysis ...
This paper presents an equilibrium model in a pure exchange econ- omy when investors have three possible sources of heterogeneity. In- vestors may di§er in their beliefs, in their level of risk aversion and in their time preference rate. We study the impac ...
We propose a mechanism for providing the incentives for reporting truthful feedback in a peer-to-peer system for exchanging services (or content). This mechanism is to complement reputation mechanisms that employ ratings' feedback on the various transactio ...
Providing safe, clean and affordable energy supply is essential for meeting the basic needs of human society and for supporting economic growth. From the historical perspective, the constantly growing energy use was one of the main factors, which drove the ...
This thesis consists of three chapters. The first chapter endogenizes technological change by introducing a stylized innovation process driven by a R&D–dependent Poisson process in a Cox, Ingersoll and Ross (1985) production economy. The model reproduces s ...
Two operational formats namely mass customization and mass production can be implemented to satisfy customer preference-based demand. The mass customization system consists of two stages: the initial build-to-stock phase and the final customize-to-order ph ...
The 1987 market crash was associated with a dramatic and permanent steepening of the implied volatility curve for equity index options, despite minimal changes in aggregate consumption. We explain these events within a general equilibrium framework in whic ...
Previous studies suggest that spin-outs will locate in close proximity to the firm from which the), spawn. As a result of this process, clusters of entrepreneurial activity tend to develop around a few strong parent firms. But do all spin-outs really stay ...
The correct functioning of a peer-to-peer network relies on cooperative behavior of peers as service providers. Current approaches to detection and deterrence of non-cooperative behavior, such as reputation systems, rely on (1) global sharing of observatio ...
Trust and reputation systems have proven to be essential to enforcing cooperative behavior in peer-to-peer networks. We briefly describe the current approaches to building reputation systems: social networks formation, probabilistic estimation and game the ...