The high penetration of both Distributed Energy Resources (DER) and Demand Response (DR) in modern power systems requires a sequence of advanced strategies and technologies for maintaining system reliability and flexibility. Real-time electricity markets (RTM) are the non-discriminatory...

In this paper, I provide a new axiomatization for rank-dependent utilities. I show that, along with weak order, dominance, and the binary rank-dependent representation, the decomposition of certainty equivalents is sufficient to derive the general rank-dependent model of Luce and Fishburn (1991,...

This article presents a descriptive theory for complex choice problems. In line with the bounded rationality assumption, we hypothesize that decision makers modify a complex choice into some coarse approximations, each of which is a binary lottery. We define the value of a best coarse...

In this paper, by use of the basic assumptions about human nature and the management, behavior, the ¡®cultural human' hypothesis and the basic viewpoint of the dualistic structure of culture are put forward. A theoretical model of cross-cultural management is constructed from local and foreign...

By elaborating on the notion of linear belief functions (Dempster 1990; Liu 1996), we propose an elementary approach to knowledge representation for expert systems using linear belief functions. We show how to use basic matrices to represent market information and financial knowledge, including...

The economic and economic-statistical designs of an X¯ control chart for two-identical unit series systems with condition-based maintenance is studied in this paper. This system is described using a five-state continuous time Markov chain. We assume that the system is monitored by an X¯...

This paper analyzes a phase-type geometric process repair model with spare device procurement lead time and repairman’s multiple vacations. The repairman may mean here the human beings who are used to repair the failed device. When the device functions smoothly, the repairman leaves the system...