Nonlinear Economic Dynamics And Financial Modelling

Nonlinear Economic Dynamics and Financial Modelling PDF
Author: Roberto Dieci
Publisher: Springer
ISBN: 3319074709
Size: 51.88 MB
Format: PDF
Category : Business & Economics
Languages : en
Pages : 389
View: 1248

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This book reflects the state of the art on nonlinear economic dynamics, financial market modelling and quantitative finance. It contains eighteen papers with topics ranging from disequilibrium macroeconomics, monetary dynamics, monopoly, financial market and limit order market models with boundedly rational heterogeneous agents to estimation, time series modelling and empirical analysis and from risk management of interest-rate products, futures price volatility and American option pricing with stochastic volatility to evaluation of risk and derivatives of electricity market. The book illustrates some of the most recent research tools in these areas and will be of interest to economists working in economic dynamics and financial market modelling, to mathematicians who are interested in applying complexity theory to economics and finance and to market practitioners and researchers in quantitative finance interested in limit order, futures and electricity market modelling, derivative pricing and risk management.

Electric Vehicle Charging And The California Power Sector

Electric Vehicle Charging and the California Power Sector PDF
Author: Julia Meagher Sohnen
Publisher:
ISBN: 9781303540691
Size: 36.70 MB
Format: PDF, ePub, Docs
Category :
Languages : en
Pages :
View: 5085

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This thesis explores the implications of the increased adoption of plug-in electric vehicles in California through its effect on the operation of the state's electric grid. The well-to-wheels emissions associated with driving an electric vehicle depend on the resource mix of the electricity grid used to charge the battery. We present a new least-cost dispatch model, EDGE-NET, for the California electricity grid consisting of interconnected sub-regions that encompass the six largest state utilities that can be used to evaluate the impact of growing electric vehicle demand on existing power grid infrastructure system and energy resources. This model considers spatiality and temporal dynamics of energy demand and supply when determining the regional impacts of additional charging profiles on the current electricity network. Model simulation runs for one year show generation and transmission congestion to be reasonable similar to historical data. Model simulation results show that average emissions and system costs associated with electricity generation vary significantly by time of day, season, and location. Marginal cost and emissions also exhibit seasonal and diurnal differences, but show less spatial variation. Sensitivity of demand analysis shows that the relative changes to average emissions and system costs respond asymmetrically to increases and decreases in electricity demand. These results depend on grid mix at the time and the marginal power plant type.In minimizing total system cost, the model will choose to dispatch the lowest-cost resource to meet additional vehicle demand, regardless of location, as long as transmission capacity is available. Location of electric vehicle charging has a small effect on the marginal greenhouse gas emissions associated with additional generation, due to electricity losses in the transmission grid. We use a geographically explicit, charging assessment model for California to develop and compare the effects of two charging profiles. Comparison of these two basic scenarios points to savings in greenhouse gas emissions savings and operational costs from delayed charging of electric vehicles. Vehicle charging simulations confirm that plug-in electric vehicles alone are unlikely to require additional generation or transmission infrastructure. EDGE-NET was successfully benchmarked against historical data for the present grid but additional work is required to expand the model for future scenario evaluation. We discuss how the model might be adapted for high penetrations of variable renewable energy resources, and the use of grid storage. Renewable resources such as wind and solar vary in California vary significantly by time-of-day, season, and location. However, combination of multiple resources from different geographic regions through transmission grid interconnection is expected to help mitigate the impacts of variability. EDGE-NET can evaluate interaction of supply and demand through the existing transmission infrastructure and can identify any critical network bottlenecks or areas for expansion. For this reason, EDGE-NET will be an important tool to evaluate energy policy scenarios.

Annual Report To Congress

Annual Report to Congress PDF
Author: United States. Energy Information Administration
Publisher:
ISBN:
Size: 23.30 MB
Format: PDF, ePub
Category :
Languages : en
Pages :
View: 6230

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Estimating The Customer Level Demand For Electricity Under Real Time Market Prices

Estimating the Customer level Demand for Electricity Under Real time Market Prices PDF
Author: Robert H. Patrick
Publisher:
ISBN:
Size: 56.18 MB
Format: PDF, Mobi
Category : Economics
Languages : en
Pages : 74
View: 3045

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This paper presents estimates of the customer-level demand for electricity by industrial and commercial customers purchasing electricity according to the half-hourly energy prices from the England and Wales (E&W) electricity market. These customers also face the possibility of a demand charge on their electricity consumption during the three half-hour periods that are coincident with E&W system peaks. Although energy charges are largely known by 4 PM the day prior to consumption, a fraction of the energy charge and the identity of the half-hour periods when demand charges occur are only known with certainty ex post of consumption. Four years of data from a Regional Electricity Company (REC) in the United Kingdom is used to quantify the half-hourly customer-level demands under this real-time pricing program. The econometric model developed and estimated here quantifies the extent of intertemporal substitution in electricity consumption across pricing periods within the day due to changes in all components of day-ahead E&W electricity prices, the level of the demand charge and the probability that a demand charge will be imposed. The results of this modeling framework can be used by distribution companies supplying consumers purchasing electricity according to real-time market prices to construct demand-side bids into a competitive electricity market. The paper closes with several examples of how this might be done

Intelligent Control In Energy Systems

Intelligent Control in Energy Systems PDF
Author: Anastasios Dounis
Publisher: MDPI
ISBN: 3039214152
Size: 11.41 MB
Format: PDF
Category : Science
Languages : en
Pages : 508
View: 6670

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The editors of this Special Issue titled “Intelligent Control in Energy Systems” have attempted to create a book containing original technical articles addressing various elements of intelligent control in energy systems. In response to our call for papers, we received 60 submissions. Of those submissions, 27 were published and 33 were rejected. In this book, we offer the 27 accepted technical articles as well as one editorial. Authors from 15 countries (China, Netherlands, Spain, Tunisia, United Sates of America, Korea, Brazil, Egypt, Denmark, Indonesia, Oman, Canada, Algeria, Mexico, and the Czech Republic) elaborate on several aspects of intelligent control in energy systems. The book covers a broad range of topics including fuzzy PID in automotive fuel cell and MPPT tracking, neural networks for fuel cell control and dynamic optimization of energy management, adaptive control on power systems, hierarchical Petri Nets in microgrid management, model predictive control for electric vehicle battery and frequency regulation in HVAC systems, deep learning for power consumption forecasting, decision trees for wind systems, risk analysis for demand side management, finite state automata for HVAC control, robust μ-synthesis for microgrids, and neuro-fuzzy systems in energy storage.

The Oxford Handbook Of Urban Planning

The Oxford Handbook of Urban Planning PDF
Author: Randall Crane
Publisher: Oxford University Press
ISBN: 0190235268
Size: 12.59 MB
Format: PDF, ePub, Docs
Category : City planning
Languages : en
Pages : 888
View: 236

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The Oxford Handbook of Urban Planning is an authoritative volume on planning, a long-established professional social science discipline in the U.S. and throughout the world. Edited by Rachel Weber and Randall Crane, professors at two leading planning institutes in the United States, this handbook collects together over 45 noted field experts to discuss three key questions: Why plan? How and what do we plan? Who plans for whom? These three questions are then applied across three major topics in planning: States, Markets, and the Provision of Social Goods; The Methods and Substance of Planning; and Agency, Implementation, and Decision Making. Covering the key components of the discipline, this book is a comprehensive, discipline-defining text suited for students and seasoned planners alike.

Erda Energy Research Abstracts

ERDA Energy Research Abstracts PDF
Author: United States. Energy Research and Development Administration
Publisher:
ISBN:
Size: 33.33 MB
Format: PDF, Mobi
Category : Medicine
Languages : en
Pages :
View: 112

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Erda Energy Research Abstracts

ERDA Energy Research Abstracts PDF
Author: United States. Energy Research and Development Administration. Technical Information Center
Publisher:
ISBN:
Size: 18.46 MB
Format: PDF, ePub, Docs
Category : Force and energy
Languages : en
Pages :
View: 3941

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Modeling Hourly Electricity Prices A Structural Time Series Approach Incorporating Modified Garch Innovations

Modeling Hourly Electricity Prices  a Structural Time Series Approach Incorporating Modified GARCH Innovations PDF
Author: Edirisinghe Mudiyanselage Asitha Edirisinghe
Publisher:
ISBN:
Size: 16.29 MB
Format: PDF, ePub, Docs
Category : Electricity
Languages : en
Pages : 288
View: 2520

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"The main objective of this research is to develop time series based procedures for modeling day-ahead and real-time hourly electricity prices. Such empirical processes exhibit features that make the direct application of standard time series models infeasible. Four years of hourly day-ahead and real-time electricity price data from the region supplied by the American Electric Power (AEP) company through the PJM Regional Transmission Organization (RTO) and one half years of real-time electricity prices from the MISO RTO are utilized as an empirical basis for developing such procedures. The price data show several features, such as irregular seasonal behavior, weekly and daily cycles, as well as sensitivity to oil price fluctuations, making it unsuitable for modeling using techniques that assume stationarity. A structural time series approach is adopted to remove the non-stationary behavior in the daily aggregate of both real-time and day-ahead series. The residual hourly price series, obtained by subtracting the predicted daily averages, show seasonal and daily fluctuations in unconditional volatility. It is shown how a scaling mechanism can be utilized to remove long-term fluctuations in the variance of residual hourly real-time price due to economic conditions and demand. The resulting scaled residual real-time hourly price series is modeled using several GARCH type models that not only account for conditional heteroskedasticity, but also allow for cyclical changes in the unconditional variance. The adjusted residual hourly day-ahead price series is modeled using spline functions to estimate the daily cycles that change across seasons. The problems posed by this data are of a sufficiently general nature such that this research are can be looked upon as providing a new paradigm for modeling high-frequency data with non-stationary and cyclical features that change over time"--Abstract, leaf iii.