According to theoretical arguments, a properly designed emission trading system should help reaching pollution reduction at low social burden. Based on the theoretical work of environmental economists, cap-and-trade systems are put into operations all over the world. However, the practice from...

The climate rescue is on the top of many agendas. In this context, emission trading schemes are considered as promising tools. The regulatory framework of an emission trading scheme introduces a market for emission allowances and creates need for risk management by appropriate financial...

Optimal c ontrol problems of swit hing type with linear state dynamic s are ubiquitous in appli ations of sto hasti c optimization. For high-dimensional problems of this type, solutions whi h utilize some c onvexity related properties are useful. For su ch problems, we present novel algorithmic...

Due to recent technical progress, battery energy storages are becoming a viable option in the power sector. Their optimal operational management focuses on load shift and shaving of price spikes. However, this requires optimally responding to electricity demand, intermittent generation, and...