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Learning, Forecasting and Optimizing: An Experimental Study

Bao, Te; Duffy, John; Hommes, Cars - 2012

available information, and 2) given expectations, agents solve optimization problems and these solutions in turn determine … paper we consider both forecasting and optimization decisions in an experimental cobweb economy. We report results from four … experimental treatments: 1) subjects form forecasts only, 2) subjects determine quantity only (solve an optimization problem), 3 …

Persistent link: https://www.econbiz.de/10010326375

The Optimal Share of Variable Renewables. How the Variability of Wind and Solar Power Affects their Welfare-optimal Deployment

Hirth, Lion - 2013

This paper estimates the welfare-optimal market share of wind and solar power; explicitly taking into account their output variability. We present a theoretical valuation framework that consistently accounts for output variability over time; forecast errors; and the location of generators in the...

Persistent link: https://www.econbiz.de/10010328669

Finding efficient frontier of process parameters for plastic injection molding

Chen, Wu-Lin; Huang, Chin-Yin; Huang, Ching-Ya - In: Journal of Industrial Engineering International 9 (2013), pp. 1-11

optimization procedure that can be applied in practice to the injection molding process. …

Persistent link: https://www.econbiz.de/10011551809

A general framework for scheduling equipment and manpower on container terminals

Hartmann, Sönke - 2002

In this paper, we propose a general model for various scheduling problems that occur in container terminal logistics. The scheduling model consists of the assignment of jobs to resources and the temporal arrangement of the jobs subject to precedence constraints and sequence-dependent setup...

Persistent link: https://www.econbiz.de/10011558786

Optimal monetary policy rules for the euro area: an analysis using the area wide model

Dieppe, Alistair; Kuester, Keith; McAdam, Peter - 2004

In this paper, we analyze optimal monetary policy rules in a model of the euro area, namely the ECB’s Area Wide Model, which embodies a high degree of intrinsic persistence and a limited role for forward-looking expectations. These features allow us, in large measure, to differentiate our...

Persistent link: https://www.econbiz.de/10011604406

The economic lot-sizing problem with remanufacturing: Analysis and an improved algorithm

Piñeyro, Pedro; Viera, Omar - In: Journal of Remanufacturing 5 (2015) 12, pp. 1-13

We address the economic lot sizing problem with product returns and remanufacturing. For this problem we provide a new theoretical result about the form of the optimal solutions that can be considered a generalization of the well-known zero-inventory property. Based on this result we suggest an...

Persistent link: https://www.econbiz.de/10011615722

Application of orthogonal array technique and particle swarm optimization approach in surface roughness modification when face milling AISI1045 steel parts

Moghaddam, Masoud Azadi; Kolahan, Farhad - In: Journal of Industrial Engineering International 12 (2016), pp. 99-209

particle swarm optimization (PSO) on the basis of experimental results. The model developed for optimization has been validated …

Persistent link: https://www.econbiz.de/10011640884

Urbanizing with equity consideration

Wan, Guanghua; Luo, Zhi; Zhang, Xun - 2017

Research has not yet been undertaken on the optimal level of urbanization, notwithstanding the pioneering work of Au and Henderson (2006) on optimal urban concentration. This paper develops two-sector general equilibrium models of urbanization, with and without equity consideration,...

Persistent link: https://www.econbiz.de/10011688665

Compressing over-the-counter markets

D'Errico, Marco; Roukny, Tarik - 2017

In this paper, we show both theoretically and empirically that the size of over-the-counter (OTC) markets can be reduced without affecting individual net positions. First, we find that the networked nature of these markets generates an excess of notional obligations between the aggregate gross...

Persistent link: https://www.econbiz.de/10011984827

The profitability of energy storage in European electricity markets

Spodniak, Petr; Bertsch, Valentin; Devine, Mel - 2018

-ahead markets during 2006-2016. We build a linear optimization model which maximizes profits from arbitraging hourly prices and use …

Persistent link: https://www.econbiz.de/10011985198