Related papers: Open Loop In Natura Economic Planning
In the restructured electricity industry, electricity pooling markets are an oligopoly with strategic producers possessing private information (private production cost function). We focus on pooling markets where aggregate demand is…
Labor share, the fraction of economic output accrued as wages, is inexplicably declining in industrialized countries. Whilst numerous prior works attempt to explain the decline via economic factors, our novel approach links the decline to…
The global objective of this work is to provide practical optimization methods to companies involved in inventory routing problems, taking into account this new type of data. Also, companies are sometimes not able to deal with changing…
This paper provides an attempt to formalize Hayek's notion of spontaneous order within the framework of the Arrow-Debreu economy. Our study shows that if a competitive economy is enough fair and free, then a spontaneous economic order shall…
The aim of this paper is to provide a sound framework for addressing a difficult problem: the automatic construction of an autonomous agent's modular architecture. We combine results from two apparently uncorrelated domains: Autonomous…
This paper examines the optimal organizational rules that govern the process of dividing a fixed surplus. The process is modeled as a sequential multilateral bargaining game with costly recognition. The designer sets the voting rule --…
We consider any network environment in which the "best shot game" is played. This is the case where the possible actions are only two for every node (0 and 1), and the best response for a node is 1 if and only if all her neighbors play 0. A…
The global production of electric goods is at an all-time high, causing negative environmental and health impacts as well as a continuing depletion of natural resources. Considering the worsening global climate change, a transition of…
The participation of renewable, energy storage, and resources with limited fuel inventory in electricity markets has created the need for optimal scheduling and pricing across multiple market intervals for resources with intertemporal…
The problem of multi-area interchange scheduling in the presence of stochastic generation and load is considered. A new interchange scheduling technique based on a two-stage stochastic minimization of overall expected operating cost is…
In this book, we outline a model of a non-capitalist market economy based on not-for-profit forms of business. This work presents both a critique of the current economic system and a vision of a more socially, economically, and ecologically…
Categorization is an essential component for us to understand the world for ourselves and to communicate it collectively. It is therefore important to recognize that classification system are not necessarily static, especially for economic…
This study seeks to improve the throughput rates for shipping container terminals. In the United States, shipping ports link the domestic economy to global markets and are vital to sustain supply chain flow and economic stability. Maritime…
The origin of economic crises is a key problem for economics. We present a model of long-run competitive markets to show that the multiplicity of behaviors in an economic system, over a long time scale, emerge as statistical regularities…
In the paper, the new approach to the scheduling problem are described. The approach deals with the problem of planning the cyclic production and proposes to consider such scheduling problem as the cyclic job-shop problem of the order k,…
Optimal shelflisting invites profit maximization to become sensitive to the ways in which purchasing decisions are order-dependent. We study the computational complexity of the corresponding product arrangement problem when consumers are…
The explosive development of "free" or "open source" information goods contravenes the conventional wisdom that markets and commercial organizations are necessary to efficiently supply products. This paper proposes a theoretical explanation…
The optimal (`equilibrium') macroscopic properties of an economy with $N$ industries endowed with different technologies, $P$ commodities and one consumer are derived in the limit $N\to\infty$ with $n=N/P$ fixed using the replica method.…
Persistent economic competition is often justified as a mechanism of innovation, efficiency, and welfare maximization. Yet empirical evidence across disciplines reveals that competition systematically generates fragility, inequality, and…
This paper proposes a market mechanism for multi-interval electricity markets with generator and storage participants. Drawing ideas from supply function bidding, we introduce a novel bid structure for storage participation that allows…