Related papers: Modeling Toll Lanes and Dynamic Pricing Control
In this paper, we investigate the charging scheduling optimization problem for large electric truck fleets operating with dedicated charging infrastructure. A central coordinator jointly determines the charging sequence and power allocation…
Tolling, or congestion pricing, has emerged as an effective tool for preventing gridlock in traffic systems. However, tolls are currently mostly designed on route-based traffic assignment models (TAM), which may be unrealistic and…
We study a bilateral trade problem where a principal has private information that is revealed with delay, such as a seller who does not yet know her production cost. Postponing the contracting process incurs a costly delay, while early…
We study a mathematical model motivated by the support/resistance line method in technical analysis where the underlying stock price transitions between three states of nature in a path-dependent manner. For optimal stopping problems with…
Autonomous vehicles can enhance overall performance and implement safety measures in ways that are impossible with conventional automobiles. These functions are executed through vehicle control systems, which have been the subject of…
This paper studies optimal pricing and rebalancing policies for Autonomous Mobility-on-Demand (AMoD) systems. We take a macroscopic planning perspective to tackle a profit maximization problem while ensuring that the system is…
We consider the problem of dynamic pricing with limited supply. A seller has $k$ identical items for sale and is facing $n$ potential buyers ("agents") that are arriving sequentially. Each agent is interested in buying one item. Each…
Motivated by demand-side management in smart grids, a decentralized controlled Markov chain formulation is proposed to model a homogeneous population of users with binary demands (i.e., off or on). The binary demands often arise in…
This paper proposes a set of technological solutions to transform existing transport systems into more intelligent, interactive systems by utilizing optimization and control methods that can be implemented in the near future. This will…
For certain industrial control applications an explicit function capturing the nontrivial trade-off between competing objectives in closed loop performance is not available. In such scenarios it is common practice to use the human innate…
In a traffic network, vehicles normally select their routes selfishly. Consequently, traffic networks normally operate at an equilibrium characterized by Wardrop conditions. However, it is well known that equilibria are inefficient in…
Formulating the intended behavior of a dynamic system can be challenging. Signal temporal logic (STL) is frequently used for this purpose due to its suitability in formalizing comprehensible, modular, and versatile spatiotemporal…
We present in this paper a method for the estimation of traffic state at road junctions controlled with traffic lights. We assume mixed traffic where a proportion of vehicles are equipped with communication resources. The estimation of road…
Unfair pricing policies have been shown to be one of the most negative perceptions customers can have concerning pricing, and may result in long-term losses for a company. Despite the fact that dynamic pricing models help companies maximize…
The purpose of the paper is to present a new pricing method for clean spread options, and to illustrate its main features on a set of numerical examples produced by a dedicated computer code. The novelty of the approach is embedded in the…
Microscopic traffic models have recently gained considerable importance as a mean of optimising traffic control strategies. Computationally efficient and sufficiently accurate microscopic traffic models have been developed based on the…
Modern online platforms such as marketplaces, ride-hailing services, and food-delivery systems serve a dual role: they are both markets where participants interact and transact, and operators that design and govern how these markets…
Time-distributed Optimization (TDO) is an approach for reducing the computational burden of Model Predictive Control (MPC). When using TDO, optimization iterations are distributed over time by maintaining a running solution estimate and…
Dynamic pricing schemes are increasingly employed across industries to maintain a self-organized balance of demand and supply. However, throughout complex dynamical systems, unintended collective states exist that may compromise their…
We present a detailed analysis and implementation of a splitting strategy to identify simultaneously the local-volatility surface and the jump-size distribution from quoted European prices. The underlying model consists of a jump-diffusion…