We develop a stochastic model for assessing the life-cycle cost and availability of wind turbines resulting from different maintenance scenarios, with the objective to identify the most cost-effective maintenance strategy. Using field-data based reliability models, the wind turbine – in terms...

This report is an effort to document some quantitative results on the possibility of introducing CO<SUB align="right"><SMALL>2</SMALL></SUB> reduction policies. It concludes that even for an industrialised country with a very efficient energy system that implies high carbon taxes, enough options are available to reduce carbon taxes to...</small></sub>

Standard deterministic analysis of agricultural and biofuel policies can yield incomplete or misleading results. Stochastic analysis is especially important when policies have asymmetric effects and when there is intrinsic interest in uncommon events or the distribution of possible outcomes. The...

Potential adjustments in U.S. commodity program for rice are evaluated in this paper using stochastic analysis in a global modeling framework. Corresponding threshold and loss-compensatory increases in target price and loan rates are determined with assumed outright and gradual elimination of...

Potential adjustments in U.S. commodity program for rice are evaluated in this paper using stochastic analysis in a global modeling framework. Corresponding threshold and loss-compensatory increases in target price and loan rates are determined with assumed outright and gradual elimination of...

Intuitively, we expect that players who are allowed to engage in costless communication before playing a game would be foolish to agree on an inefficient equilibrium. At the same time, however, such preplay communication has been suggested as a rationale for expecting Nash equilibrium in...

In this study, a hybrid fuzzy-stochastic programming method is developed for planning water trading under uncertainties of randomness and fuzziness. The method can deal with recourse water allocation problems generated by randomness in water availability and, at the same time, tackle...

The paper examines an important player in the container industry: the container terminal. We evaluate how terminal efficiency operation is affected by the following factors: terminal type, operation type, scale efficiency and returns to scale. In so doing, we test how the typology and operation...

We consider minimizing the probability of falling below a target growth rate of the wealth process up to a time horizon T in an incomplete market model under partial information and then study the asymptotic behavior of the minimizing probability as T → ∞. This problem is closely related to...