Related papers: Business Cycle and Conserved Quantity in Economics
Recurrent boom-and-bust cycles are a salient feature of economic and financial history. Cycles found in the data are stochastic, often highly persistent, and span substantial fractions of the sample size. We refer to such cycles as "long".…
The article discusses a generalization of model of economic growth with constant pace, which takes into account the effects of dynamic memory. Memory means that endogenous or exogenous variable at a given time depends not only on their…
Analytics play an important role in modern business. Companies adapt data science lifecycles to their culture to seek productivity and improve their competitiveness among others. Data science lifecycles are fairly an important contributing…
Enterprise Systems purport to bring innovation to organizations. Yet, no past studies, neither from innovation nor from ES disciplines have merged their knowledge to understand how ES could facilitate lifecycle-wide innovation. Therefore,…
The stochastic differential equations for a model of dissipative particle dynamics, with both total energy and total momentum conservation at every time-step, are presented. The algorithm satisfies detailed balance as well as the…
In [1], a single-period co-optimization model of energy and reserve is considered to better illustrate the properties of the co-optimization model and the associated market mechanism. To make the discussion more general, in this paper, the…
Time variation and persistence are crucial properties of volatility that are often studied separately in energy volatility forecasting models. Here, we propose a novel approach that allows shocks with heterogeneous persistence to vary…
This paper presents a conceptual model describing the medium and long-term co-evolution of natural and socio-economic subsystems of Earth. An economy is viewed as an out-of-equilibrium dissipative structure that can only be maintained with…
In this work, a composite economic model predictive control (CEMPC) is proposed for the optimal operation of a stand-alone integrated energy system (IES). Time-scale multiplicity exists in IESs dynamics is taken into account and addressed…
We extend the exploration regarding dynamical approach of macroeconomic variables by tackling systematically expenditure using Statistical Physics models (for the first time to the best of our knowledge). Also, using polynomial distribution…
The paper suggests a new stochastic model for energy producing, dispatching, and storing in the multi-battery setting that takes into account the topology of the system of the links between the batteries, the transmission and storage…
Nowadays, there is an increasing concern about the unsustainability of the take-make-dispose paradigm upon which traditional production and consumption systems are built. The concept of circular economy is gaining attention as a potential…
Conserved dynamical systems are generally considered to be critical. We study a class of critical routing models, equivalent to random maps, which can be solved rigorously in the thermodynamic limit. The information flow is conserved for…
Accurately measuring the cycle lifetime of commercial lithium-ion batteries is crucial for performance and technology development. We introduce a novel hybrid approach combining a physics-based equation with a self-attention model to…
The optimization-based design of renewable energy systems is a computationally demanding task because of the high temporal fluctuation of supply and demand time series. In order to reduce these time series, the aggregation of typical…
This paper introduces a continuous-time constrained nonlinear control scheme which implements a model predictive control strategy as a continuous-time dynamic system. The approach is based on the idea that the solution of the optimal…
Economic model predictive control has been proposed as a means for solving the unit loading and unit allocation problem in multi-chiller cooling plants. The adjective economic stems from the use of financial cost due to electricity…
While the use of energy storage combined with grid-scale photovoltaic power plants continues to grow, given current lithium-ion battery prices, there remains uncertainty about the profitability of these solar-plus-storage projects. At the…
The principle of energy conservation leads to a generalized choice of transition probability in a piecewise adiabatic representation of quantum(-classical) dynamics. Significant improvement (almost an order of magnitude, depending on the…
We investigate the problem of market mechanism design for wind energy. We consider a dynamic two-step model with one strategic seller with wind generation and one buyer, who trade energy through a mechanism determined by a designer. The…