Related papers: Rational Choice Hypothesis as X-point of Utility F…
Nowadays, attitudes towards electricity customers have been changed, so that they are no longer considered static players. The customers behavior identification is vital for establishing modern power systems. This paper utilizes the…
We propose a society-first theory of normative appropriateness where individuals, modeled as pre-trained actors with cognitive architectures analogous to Large Language Models (LLMs), generate behavior via predictive pattern completion. Our…
Active consumer participation is seen as an integral part of the emerging smart grid. Examples include demand-side management programs, incorporation of consumer-owned energy storage or renewable energy units, and active energy trading.…
Random utility theory models an agent's preferences on alternatives by drawing a real-valued score on each alternative (typically independently) from a parameterized distribution, and then ranking the alternatives according to scores. A…
Resource adequacy studies typically use standard metrics such as Loss of Load Expectation and Expected Energy Unserved to quantify the risk of supply shortfalls. This paper critiques present approaches to adequacy assessment and capacity…
We consider social welfare functions when the preferences of individual agents and society maximize subjective expected utility in the tradition of Savage. A system of axioms is introduced whose unique solution is the social welfare…
Understanding cooperation in social systems is challenging because the ever-changing rules that govern societies interact with individual actions, resulting in intricate collective outcomes. In virtual-world experiments, we allowed people…
Whether a population of decision-making individuals will reach a state of satisfactory decisions is a fundamental problem in studying collective behaviors. In the framework of evolutionary game theory and by means of potential functions,…
Counterfactual utilities evaluate decisions not only by the realized outcome under a given decision, but also by the counterfactual outcomes that would arise under alternative decisions. By generalizing standard utility frameworks, they…
A rational behavior of a consumer is analyzed when the user participates in a Peak Time Rebate (PTR) mechanism, which is a demand response (DR) incentive program based on a baseline. A multi-stage stochastic programming is proposed from the…
Decision theory does not traditionally include uncertainty over utility functions. We argue that the a person's utility value for a given outcome can be treated as we treat other domain attributes: as a random variable with a density…
Identifying factors that affect human decision making and quantifying their influence remain essential and challenging tasks for the design and implementation of social and technological communication systems. We report results of a…
Subjective expected utility theory assumes that decision-makers possess unlimited computational resources to reason about their choices; however, virtually all decisions in everyday life are made under resource constraints - i.e.…
We introduce a new computational model of moral decision making, drawing on a recent theory of commonsense moral learning via social dynamics. Our model describes moral dilemmas as a utility function that computes trade-offs in values over…
The environmental change and its effects, caused by human influences and natural ecological processes over the last decade, prove that it is now more prudent than ever to transition to more sustainable models of energy consumption…
The uncertainty quantification and risk modeling are hot topics in the operation and planning of energy systems. The system operators and planners are decision-makers that need to handle the uncertainty of input data of their models. As an…
Social gravity law widely exists in human travel, population migration, commodity trade, information communication, scientific collaboration and so on. Why is there such a simple law in many complex social systems is an interesting…
To choose between two discrete goods, a consumer pays attention to only those with prices below a threshold. From these, she chooses her most preferred good. We assume consumers in a population have the same preference but may have…
Joint travel decisions, particularly related to social activities remain poorly explained in traditional behavioral models. A key reason for this is the lack of empirical data, and the difficulties associated with collecting such data in…
Despite many decades of research, economically grounded models that analyse energy consumption and energy-efficiency adoption within a unified framework remain underdeveloped. This article addresses this gap by proposing a model of…