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What happens to the merit order of electricity markets when all electricity is supplied by intermittent renewable … energy sources coupled with large-scale electricity storage? With near-zero marginal cost of production, will there still be … a role for an energy-only electricity market? We answer these questions both analytically and empirically for …
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We study a general problem of allocating limited resources to heterogeneous customers over time, under model uncertainty. Each type of customer can be serviced using different actions, each of which stochastically consumes some combination of resources, and returns different rewards for the...
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For safe and reliable machine operation, maintenance, repair and overhaul (MRO) activities are required. Spare parts demand forecasting and inventory planning, which is an important part of MRO activities, must be accurate to avoid costs because of surplus spare parts or machine downtimes. The...
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