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In this paper, we study a Markov decision process with a non-linear discount function and with a Borel state space. We define a recursive discounted utility, which resembles non-additive utility functions considered in a number of models in…
Uncoordinated charging of a rapidly growing number of electric vehicles (EVs) and the uncertainty associated with renewable energy resources may constitute a critical issue for the electric mobility (E-Mobility) in the transportation system…
The sum-utility maximization problem is known to be important in the energy systems literature. The conventional assumption to address this problem is that the utility is concave. But for some key applications, such an assumption is not…
In this paper, the problem of energy trading between smart grid prosumers, who can simultaneously consume and produce energy, and a grid power company is studied. The problem is formulated as a single-leader, multiple-follower Stackelberg…
In coming years residential consumers will face real-time electricity tariffs with energy prices varying day to day, and effective energy saving will require automation - a recommender system, which learns consumer's preferences from her…
Demand-side energy management, such as the real-time pricing (RTP) program, offers manufacturers opportunities to reduce energy costs by shifting production to low-price hours. However, this strategy is challenging to implement when machine…
Reinforcement learning (RL) has recently become the dominant paradigm for strengthening the reasoning abilities of large language models (LLMs). Yet the rule-based reward functions commonly used on mathematical or programming benchmarks…
Statistical protocols are often used for decision-making involving multiple parties, each with their own incentives, private information, and ability to influence the distributional properties of the data. We study a game-theoretic version…
Most existing recommender systems leverage user behavior data of one type only, such as the purchase behavior in E-commerce that is directly related to the business KPI (Key Performance Indicator) of conversion rate. Besides the key…
The main objective of this paper is to develop a martingale-type solution to optimal consumption--investment choice problems ([Merton, 1969] and [Merton, 1971]) under time-varying incomplete preferences driven by externalities such as…
Customer behavior is often assumed to follow weak rationality, which implies that adding a product to an assortment will not increase the choice probability of another product in that assortment. However, an increasing amount of research…
This paper investigates interaction among residential electricity users and utility company in a distribution network with the capability of two-way communication provided by smart grid. The energy consumption scheduling of electricity…
Recently there have been several historical changes in electricity networks that necessitate the development of Demand Side Management (DSM). The main objective of DSM is to achieve an aggregated consumption pattern that is efficient in…
Stability and protection of the electrical power systems are always of primary concern. Stability can be affected mostly by increase in the load demand. Power grids are overloaded in peak hours so more power generation units are required to…
The classic Dial-A-Ride Problem (DARP) aims at designing the minimum-cost routing that accommodates a set of user requests under constraints at an operations planning level, where users' preferences and revenue management are often…
The widespread deployment of Advanced Metering Infrastructure has made granular data of residential electricity consumption available on a large scale. Smart meters enable a two way communication between residential customers and utilities.…
When sales of a product are affected by randomness in demand, retailers can use dynamic pricing strategies to maximise their profits. In this article the pricing problem is formulated as a stochastic optimal control problem, where the…
The assortment problem in revenue management is the problem of deciding which subset of products to offer to consumers in order to maximise revenue. A simple and natural strategy is to select the best assortment out of all those that are…
In this paper,we study the individual's optimal retirement time and optimal consumption under habitual persistence. Because the individual feels equally satisfied with a lower habitual level and is more reluctant to change the habitual…
Participation in residential energy demand response programs requires an active role by the consumers. They contribute flexibility in how they use their appliances as the means to adjust energy consumption, and reduce demand peaks, possibly…