Related papers: On the Dynamics of Distributed Energy Adoption: Eq…
Ride-sharing - the combination of multiple trips into one - may substantially contribute towards sustainable urban mobility. It is most efficient at high demand locations with many similar trip requests. However, here we reveal that…
Electricity markets currently fail to incorporate preferences of buyers, treating polluting and renewable energy sources as having equal social benefit under a system of uniform clearing prices. Meanwhile, renewable energy is prone to…
Stability of the utility maximization problem with random endowment and indifference prices is studied for a sequence of financial markets in an incomplete Brownian setting. Our novelty lies in the nonequivalence of markets, in which the…
As the adoption of distributed energy resources grows, power systems are becoming increasingly complex and vulnerable to disruptions, such as natural disasters and cyber-physical threats. Peer-to-peer (P2P) energy markets offer a practical…
As the popularity of electric vehicles increases, the demand for more power can increase more rapidly than our ability to install additional generating capacity. In the long term we expect that the supply and demand will become balanced.…
We focus on large blackouts in electric distribution systems caused by extreme winds. Such events have a large cost and impact on customers. To quantify resilience to these events, we formulate large event risk and show how to calculate it…
Standard evolutionary theories of aging and mortality, implicitly based on assumptions of spatial averaging, hold that natural selection cannot favor shorter lifespan without direct compensating benefit to individual reproductive success.…
We investigate a continuous-time investment-consumption problem with model uncertainty in a general diffusion-based market with random model coefficients. We assume that a power utility investor is ambiguity-averse, with the preference to…
This paper focuses on the problem of energy imbalance management in amicrogrid. The problem is investigated from the power market perspective. Unlike the traditional power grid, a microgrid can obtain extra energy froma renewable energy…
We show that AI-driven investment strategies are inherently self-defeating at scale. As AI adoption rises, three mutually reinforcing channels -- signal crowding, performative signal erosion, and Red Queen competition -- compress excess…
The energy transition is expected to significantly increase the share of renewable energy sources whose production is intermittent in the electricity mix. Apart from key benefits, this development has the major drawback of generating a…
This paper studies the duopoly competition between renewable energy suppliers with or without energy storage in a local energy market. The storage investment brings the benefits of stabilizing renewable energy suppliers' outputs, but it…
The theory of complex networks and of disordered systems is used to study the stability and dynamical properties of a simple model of material flow networks defined on random graphs. In particular we address instabilities that are…
A commonly used approach to study stability in a complex system is by analyzing the Jacobian matrix at an equilibrium point of a dynamical system. The equilibrium point is stable if all eigenvalues have negative real parts. Here, by…
We propose a model to create synthetic networks that may also serve as a narrative of a certain kind of infrastructure network evolution. It consists of an initialization phase with the network extending tree-like for minimum cost and a…
Wildfires and other extreme weather conditions due to climate change are stressing the aging electrical infrastructure. Power utilities have implemented public safety power shutoffs as a method to mitigate the risk of wildfire by…
This paper analyses the interaction between centralised carbon emissive technologies and distributed intermittent non-emissive technologies. In our model, there is a representative consumer who can satisfy her electricity demand by…
The conventional electricity grid system has many critical issues, which could lead to power instability, blackout, and many other issues. One main perspective is to consume the relative amount of distributed renewable energy in the…
This paper analyzes stability conditions for wholesale electricity markets under real-time retail pricing and realistic consumption models with memory, which explicitly take into account previous electricity prices and consumption levels.…
In modern power systems, the operating point, at which the demand and supply are balanced, may take different values due to changes in loads and renewable generation levels. Understanding the dynamics of stressed power systems with a range…