This chapter reviews work by the authors on the multicriteria Flexible Least Squares (FLS) approach to model estimation. Related work can be accessed here: http://www.econ.iastate.edu/tesfatsi/flshome.htm

Economies are complicated systems encompassing micro behaviors, interaction patterns, and global regularities. Whether partial or general in scope, studies of economic systems must consider how to handle difficult real-world aspects such as asymmetric information, imperfect competition,...

Short-term congestion forecasting is highly important for market participants in wholesale power markets that use Locational Marginal Prices (LMPs) to manage congestion. Accurate congestion forecasting facilitates market traders in bidding and trading activities and assists market operators in...