mathematical modelling of contemporary electricity markets

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Mathematical Modelling of Contemporary Electricity Markets
Author : Athanasios Dagoumas
Publisher : Academic Press
Release Date : 2021-01-29
ISBN 10 : 0128218398
Pages : 442 pages
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Mathematical Modelling of Contemporary Electricity Markets reviews major methodologies and tools to accurately analyze and forecast contemporary electricity markets in a ways that is ideal for practitioner and academic audiences. Approaches include optimization, neural networks, genetic algorithms, co-optimization, econometrics, E3 models and energy system models. The work examines how new challenges affect power market modeling, including discussions of stochastic renewables, price volatility, dynamic participation of demand, integration of storage and electric vehicles, interdependence with other commodity markets and the evolution of policy developments (market coupling processes, security of supply). Coverage addresses all major forms of electricity markets: day-ahead, forward, intraday, balancing, and capacity. Provides a diverse body of established techniques suitable for modeling any major aspect of electricity markets Familiarizes energy experts with the quantitative skills needed in competitive electricity markets Reviews market risk for energy investment decisions by stressing the multi-dimensionality of electricity markets

The Economics of Electricity Markets
Author : Darryl R. Biggar,Mohammad Reza Hesamzadeh
Publisher : John Wiley & Sons
Release Date : 2014-07-10
ISBN 10 : 1118775724
Pages : 432 pages
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Bridges the knowledge gap between engineering and economics in a complex and evolving deregulated electricity industry, enabling readers to understand, operate, plan and design a modern power system With an accessible and progressive style written in straight-forward language, this book covers everything an engineer or economist needs to know to understand, operate within, plan and design an effective liberalized electricity industry, thus serving as both a useful teaching text and a valuable reference. The book focuses on principles and theory which are independent of any one market design. It outlines where the theory is not implemented in practice, perhaps due to other over-riding concerns. The book covers the basic modelling of electricity markets, including the impact of uncertainty (an integral part of generation investment decisions and transmission cost-benefit analysis). It draws out the parallels to the Nordpool market (an important point of reference for Europe). Written from the perspective of the policy-maker, the first part provides the introductory background knowledge required. This includes an understanding of basic economics concepts such as supply and demand, monopoly, market power and marginal cost. The second part of the book asks how a set of generation, load, and transmission resources should be efficiently operated, and the third part focuses on the generation investment decision. Part 4 addresses the question of the management of risk and Part 5 discusses the question of market power. Any power system must be operated at all times in a manner which can accommodate the next potential contingency. This demands responses by generators and loads on a very short timeframe. Part 6 of the book addresses the question of dispatch in the very short run, introducing the distinction between preventive and corrective actions and why preventive actions are sometimes required. The seventh part deals with pricing issues that arise under a regionally-priced market, such as the Australian NEM. This section introduces the notion of regions and interconnectors and how to formulate constraints for the correct pricing outcomes (the issue of "constraint orientation"). Part 8 addresses the fundamental and difficult issue of efficient transmission investment, and finally Part 9 covers issues that arise in the retail market. Bridges the gap between engineering and economics in electricity, covering both the economics and engineering knowledge needed to accurately understand, plan and develop the electricity market Comprehensive coverage of all the key topics in the economics of electricity markets Covers the latest research and policy issues as well as description of the fundamental concepts and principles that can be applied across all markets globally Numerous worked examples and end-of-chapter problems Companion website holding solutions to problems set out in the book, also the relevant simulation (GAMS) codes

Mathematical Modelling of Zombies
Author : Robert Smith?
Publisher : University of Ottawa Press
Release Date : 2014-10-14
ISBN 10 : 0776621688
Pages : 468 pages
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You’re outnumbered, in fear for your life, surrounded by flesheating zombies. What can save you now? Mathematics, of course. Mathematical Modelling of Zombies engages the imagination to illustrate the power of mathematical modelling. Using zombies as a “hook,” you’ll learn how mathematics can predict the unpredictable. In order to be prepared for the apocalypse, you’ll need mathematical models, differential equations, statistical estimations, discretetime models, and adaptive strategies for zombie attacks—as well as baseball bats and Dire Straits records (latter two items not included). In Mathematical Modelling of Zombies, Robert Smith? brings together a highly skilled team of contributors to fend off a zombie uprising. You’ll also learn how modelling can advise government policy, how theoretical results can be communicated to a nonmathematical audience and how models can be formulated with only limited information. A forward by Andrew Cartmel—former script editor of Doctor Who, author, zombie fan and all-round famous person in science-fiction circles—even provides a genealogy of the undead. By understanding how to combat zombies, readers will be introduced to a wide variety of modelling techniques that are applicable to other real-world issues (biology, epidemiology, medicine, public health, etc.). So if the zombies turn up, reach for this book. The future of the human race may depend on it.

Modern Power Systems Analysis
Author : Xi-Fan Wang,Yonghua Song,Malcolm Irving
Publisher : Springer Science & Business Media
Release Date : 2010-06-07
ISBN 10 : 0387728538
Pages : 561 pages
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The capability of effectively analyzing complex systems is fundamental to the operation, management and planning of power systems. This book offers broad coverage of essential power system concepts and features a complete and in-depth account of all the latest developments, including Power Flow Analysis in Market Environment; Power Flow Calculation of AC/DC Interconnected Systems and Power Flow Control and Calculation for Systems Having FACTS Devices and recent results in system stability.

Primer on Optimal Control Theory
Author : Jason L. Speyer,David H. Jacobson
Publisher : SIAM
Release Date : 2010
ISBN 10 : 0898718562
Pages : 307 pages
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The performance of a process -- for example, how an aircraft consumes fuel -- can be enhanced when the most effective controls and operating points for the process are determined. This holds true for many physical, economic, biomedical, manufacturing, and engineering processes whose behavior can often be influenced by altering certain parameters or controls to optimize some desired property or output.

Contemporary Climate Change Debates
Author : Mike Hulme
Publisher : Routledge
Release Date : 2019-11-27
ISBN 10 : 0429821158
Pages : 252 pages
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Contemporary Climate Change Debates is an innovative new textbook which tackles some of the difficult questions raised by climate change. For the complex policy challenges surrounding climate migration, adaptation and resilience, structured debates become effective learning devices for students. This book is organised around 15 important questions, and is split into four parts: What do we need to know? What should we do? On what grounds should we base our actions? Who should be the agents of change? Each debate is addressed by pairs of one or two leading or emerging academics who present opposing viewpoints. Through this format the book is designed to introduce students of climate change to different arguments prompted by these questions, and also provides a unique opportunity for them to engage in critical thinking and debate amongst themselves. Each chapter concludes with suggestions for further reading and with discussion questions for use in student classes. Drawing upon the sciences, social sciences and humanities to debate these ethical, cultural, legal, social, economic, technological and political roadblocks, Contemporary Debates on Climate Change is essential reading for all students of climate change, as well as those studying environmental policy and politics and sustainable development more broadly.

The Economics of Contemporary Art
Author : Alessia Zorloni
Publisher : Springer Science & Business Media
Release Date : 2013-04-16
ISBN 10 : 3642324053
Pages : 182 pages
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The book examines the contemporary art system with a broad and systematic approach, through the application of models of microeconomics and industrial organizations. By breaking down the traditional barriers between different academic disciplines such as art and economics, this book offers a unique opportunity to grasp the complexities of the contemporary art world and provides the tools to conduct a structural analysis of that market. The result is an in-depth analysis of the contemporary art market from an interdisciplinary perspective. While it is not a textbook in the strictest sense, the book offers a concise and effective overview of all actors in the art system, and provides supporting data and valuable information, both conceptual and practical. It is therefore a text that can be used by students wishing to better understand the complex dynamics that govern the contemporary art market, but also by cultural managers, collectors, potential art investors or simply art lovers who need a quick reference.​

The World in the Model
Author : Mary S. Morgan
Publisher : Cambridge University Press
Release Date : 2012-09-17
ISBN 10 : 1139560417
Pages : 329 pages
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During the last two centuries, the way economic science is done has changed radically: it has become a social science based on mathematical models in place of words. This book describes and analyses that change - both historically and philosophically - using a series of case studies to illuminate the nature and the implications of these changes. It is not a technical book; it is written for the intelligent person who wants to understand how economics works from the inside out. This book will be of interest to economists and science studies scholars (historians, sociologists and philosophers of science). But it also aims at a wider readership in the public intellectual sphere, building on the current interest in all things economic and on the recent failure of the so-called economic model, which has shaped our beliefs and the world we live in.

Energy Research Abstracts
Author : N.A
Publisher : N.A
Release Date : 1980-12
ISBN 10 :
Pages : 329 pages
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Modeling Markets
Author : Peter S.H. Leeflang,Jaap E. Wieringa,Tammo H.A. Bijmolt,Koen H. Pauwels
Publisher : Springer
Release Date : 2014-11-12
ISBN 10 : 1493920863
Pages : 408 pages
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This book is about how models can be developed to represent demand and supply on markets, where the emphasis is on demand models. Its primary focus is on models that can be used by managers to support marketing decisions. Modeling Markets presents a comprehensive overview of the tools and methodologies that managers can use in decision making. It has long been known that even simple models outperform judgments in predicting outcomes in a wide variety of contexts. More complex models potentially provide insights about structural relations not available from casual observations. In this book, the authors present a wealth of insights developed at the forefront of the field, covering all key aspects of specification, estimation, validation and use of models. The most current insights and innovations in quantitative marketing are presented, including in-depth discussion of Bayesian estimation methods. Throughout the book, the authors provide examples and illustrations. This book will be of interest to researchers, analysts, managers and students who want to understand, develop or use models of marketing phenomena.

Dynamic Data Assimilation
Author : John M. Lewis,S. Lakshmivarahan,Sudarshan Dhall
Publisher : Cambridge University Press
Release Date : 2006-08-03
ISBN 10 : 0521851556
Pages : 654 pages
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Dynamic data assimilation is the assessment, combination and synthesis of observational data, scientific laws and mathematical models to determine the state of a complex physical system, for instance as a preliminary step in making predictions about the system's behaviour. The topic has assumed increasing importance in fields such as numerical weather prediction where conscientious efforts are being made to extend the term of reliable weather forecasts beyond the few days that are presently feasible. This book is designed to be a basic one-stop reference for graduate students and researchers. It is based on graduate courses taught over a decade to mathematicians, scientists, and engineers, and its modular structure accommodates the various audience requirements. Thus Part I is a broad introduction to the history, development and philosophy of data assimilation, illustrated by examples; Part II considers the classical, static approaches, both linear and nonlinear; and Part III describes computational techniques. Parts IV to VII are concerned with how statistical and dynamic ideas can be incorporated into the classical framework. Key themes covered here include estimation theory, stochastic and dynamic models, and sequential filtering. The final part addresses the predictability of dynamical systems. Chapters end with a section that provides pointers to the literature, and a set of exercises with instructive hints.

Credit Risk
Author : Marek Capiński,Tomasz Zastawniak
Publisher : Cambridge University Press
Release Date : 2016-11-24
ISBN 10 : 1107002761
Pages : 194 pages
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This master's-level introduction to mainstream credit risk modelling balances rigorous theory with real-world, post-credit crisis examples.