Related papers: The PCL Framework: A strategic approach to compreh…

Intermittent renewable energy resources like wind and solar pose great uncertainty of multiple time scales, from minutes to years, on the design and operation of power systems. Energy system optimization models have been developed to find…

Climate adaptation could yield significant benefits. However, the uncertainty of which future climate scenarios will occur decreases the feasibility of proactively adapting. Climate adaptation projects could be underwritten by benefits paid…

Climate change is a pressing global concern for governments, corporations, and citizens alike. This concern underscores the necessity for these entities to accurately assess the climate impact of manufacturing goods and providing services.…

Climate change and rapid urbanization have intensified the frequency and severity of flooding, resulting in substantial damage to communities and infrastructure. Existing research on flood risk addresses a wide range of dimensions, ranging…

This research presents a three-step causal inference framework that integrates correlation analysis, machine learning-based causality discovery, and LLM-driven interpretations to identify socioeconomic factors influencing carbon emissions…

We introduce a decision-making framework tailored for the management of systemic risk in networks. This framework is constructed upon three fundamental components: (1) a set of acceptable network configurations, (2) a set of interventions…

In this paper we present a framework for risk-sensitive model predictive control (MPC) of linear systems affected by stochastic multiplicative uncertainty. Our key innovation is to consider a time-consistent, dynamic risk evaluation of the…

We propose a new clustering approach, called optimality-based clustering, that clusters data points based on their latent decision-making preferences. We assume that each data point is a decision generated by a decision-maker who…

A collection of thermostatically controlled loads (TCLs) -- such as air conditioners and water heaters -- can vary their power consumption within limits to help the balancing authority of a power grid maintain demand supply balance. Doing…

This paper addresses estimates of climate risk embedded within a bank credit portfolio. The proposed Climate Extended Risk Model (CERM) adapts well known credit risk models and makes it possible to calculate incremental credit losses on a…

The financial crisis has dramatically demonstrated that the traditional approach to apply univariate monetary risk measures to single institutions does not capture sufficiently the perilous systemic risk that is generated by the…

Demand flexibility is increasingly important for power grids, in light of growing penetration of renewable generation. Careful coordination of thermostatically controlled loads (TCLs) can potentially modulate energy demand, decrease…

Clustering provides a common means of identifying structure in complex data, and there is renewed interest in clustering as a tool for the analysis of large data sets in many fields. A natural question is how many clusters are appropriate…

The ongoing concern about systemic risk since the outburst of the global financial crisis has highlighted the need for risk measures at the level of sets of interconnected financial components, such as portfolios, institutions or members of…

Projecting climate change is a generalization problem: we extrapolate the recent past using physical models across past, present, and future climates. Current climate models require representations of processes that occur at scales smaller…

This paper introduces a two-pillar cyber risk management framework to address the pervasive challenges in managing cyber risk. The first pillar, cyber risk assessment, combines insurance frequency-severity models with cybersecurity cascade…

A successful response to climate change needs vast investments in low-carbon research, energy, and sustainable development. Governments can drive research, provide environmental regulation, and accelerate global development, but the…

Inspired by ideas from health risk assessment, this paper presents a new perspective for flood risk assessment. The proposed perspective focuses on three pillars for examining flood risk: (1) inherent susceptibility, (2) mitigation…

This work introduces a formulation of model predictive control (MPC) which adaptively reasons about the complexity of the model based on the task while maintaining feasibility and stability guarantees. Existing MPC implementations often…

Managing coastal flood risks involves choosing among portfolios of different options. Analyzing these choices typically requires a model. State-of-the-art coastal risk models provide detailed regional information, but can be difficult to…