Related papers: Risk-Limiting Dynamic Contracts for Direct Load Co…
This paper outlines an optimization framework for choosing fast and reliable control actions in a transmission grid emergency situation. We consider contractual load shedding and generation re-dispatch as exemplary emergency actions. To…
We develop a continuous-time principal-agent model of gig work, where contractual flexibility allows the employer to adjust fixed pay and output-based incentives dynamically. The worker's participation depends on a backward-looking…
A novel energy reduction strategy to maximally exploit the dynamic workload variation is proposed for the offline voltage scheduling of preemptive systems. The idea is to construct a fully-preemptive schedule that leads to minimum energy…
This paper proposes a dynamic valuation framework to determine the opportunity value of battery capacity degradation in grid applications based on the internal degradation mechanism and utilization scenarios. The proposed framework follows…
Self-optimizing control is a strategy for selecting controlled variables, where the economic objective guides the selection and design of controlled variables, with the expectation that maintaining the controlled variables at constant…
We consider a broker who has to place a large order which consumes a sizable part of average daily trading volume. The broker's aim is thus to minimize execution costs he incurs from the adverse impact of his trades on market prices. By…
In a continuous-time setting where a risk-averse agent controls the drift of an output process driven by a Brownian motion, optimal contracts are linear in the terminal output; this result is well-known in a setting with moral hazard and…
This paper considers the problem of controller synthesis of signal temporal logic (STL) specifications for large-scale multi-agent systems, where the agents are dynamically coupled and subject to collaborative tasks. A compositional…
This paper studies contracting in the presence of externalities with a non-contractible outsider. Multiple equilibria arise from strategic symmetry between the insider agent and the outsider. To address strategic uncertainty, the principal…
A novel method for control of dynamical systems, proposed in the paper, ensures an output signal belonging to the given set at any time. The method is based on a special change of coordinates such that the initial problem with given…
Production high-performance computing systems continue to grow in complexity and size. As applications struggle to make use of increasingly heterogeneous compute nodes, maintaining high efficiency (performance per watt) for the whole…
Decentralized stochastic control problems with local information involve problems where multiple agents and subsystems which are coupled via dynamics and/or cost are present. Typically, however, the dynamics of such couplings is complex and…
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…
The interplay between risk aversion and financial derivatives has received increasing attention since the advent of electricity market liberalization. One important challenge in this context is how to develop economically efficient and…
We describe an abstract control-theoretic framework in which the validity of the dynamic programming principle can be established in continuous time by a verification of a small number of structural properties. As an application we treat…
With the increasing penetration of renewable energy sources, growing demand variability, and evolving grid control strategies, accurate and efficient load modeling has become a critical yet challenging task. Traditional methods, such as…
We investigate an optimal reinsurance problem for an insurance company facing a constant fixed cost when the reinsurance contract is signed. The insurer needs to optimally choose both the starting time of the reinsurance contract and the…
Timely delivery of delay-sensitive information over dynamic, heterogeneous networks is increasingly essential for a range of interactive applications, such as industrial automation, self-driving vehicles, and augmented reality. However,…
The dynamic pricing problem of a freeway corridor with high-occupancy toll (HOT) lanes was formulated and solved based on a point queue abstraction of the traffic system [Yin and Lou, 2009]. However, existing pricing strategies cannot…
Dynamic pricing is both an opportunity and a challenge to the demand side. It is an opportunity as it better reflects the real time market conditions and hence enables an active demand side. However, demand's active participation does not…