The Dual Hot-Gas Bypass Defrosting (DHBD) cycle is an effective defrosting method compared to a Reverse Cycle Defrosting (RCD) method to remove frost from the outdoor heat exchanger (HEX) of an air-to-air heat pump, especially the outdoor temperature is above 0°C. However, the DHBD method has a...

We study a decentralized trading model as in Peters (1984a), where heterogeneous market participants face a trade-off between price and trade probability. We present a novel proof of existence of a unique demand vector in Nash equilibrium, based on a recursive approach that exploits the...