Related papers: Option to survive or surrender: carbon asset manag…
The integration of renewable generation poses operational and economic challenges for the electricity grid. For the core problem of power balance, the legacy paradigm of tailoring supply to follow random demand may be inappropriate under…
This work is based on the framework proposed by Conrad (1997) to determine the optimal timing of an investment or policy to slow global warming. While Conrad formulated the problem as a stopping rule option pricing model, we treat the…
A perfectly rational decision-maker chooses the best action with the highest utility gain from a set of possible actions. The optimality principles that describe such decision processes do not take into account the computational costs of…
A transition to a low-carbon electricity supply is crucial to limit the impacts of climate change. Reducing carbon emissions could help prevent the world from reaching a tipping point, where runaway emissions are likely. Runaway emissions…
A sliding-mode-based adaptive boundary control law is proposed for a class of uncertain thermal reaction-diffusion processes subject to matched disturbances. The disturbances are assumed to be bounded, but the corresponding bounds are…
To halt further climate change, computing, along with the rest of society, must reduce, and eventually eliminate, its carbon emissions. Recently, many researchers have focused on estimating and optimizing computing's \emph{embodied carbon},…
We study the worst-case welfare of item pricing in the \emph{tollbooth problem}. The problem was first introduced by Guruswami et al, and is a special case of the combinatorial auction in which (i) each of the $m$ items in the auction is an…
Increasing the adoption of alternative technologies is vital to ensure a successful transition to net-zero emissions in the manufacturing sector. Yet there is no model to analyse technology adoption and the impact of policy interventions in…
Several Earth system components are at a high risk of undergoing rapid and irreversible qualitative changes or `tipping', due to increasing climate warming. Potential tipping elements include Arctic sea-ice, Atlantic meridional overturning…
Two robots stand at the origin of the infinite line and are tasked with searching collaboratively for an exit at an unknown location on the line. They can travel at maximum speed $b$ and can change speed or direction at any time. The two…
We investigate optimal carbon abatement in a dynamic general equilibrium climate-economy model with endogenous structural change. By differentiating the production of investment from consumption, we show that social cost of carbon can be…
The fossil-fuel induced contribution to further warming over the 21st century will be determined largely by integrated CO2 emissions over time rather than the precise timing of the emissions, with a relation of near-proportionality between…
We present a novel approach to the pricing of financial instruments in emission markets, for example, the EU ETS. The proposed structural model is positioned between existing complex full equilibrium models and pure reduced form models.…
In this paper, we investigate the cooling-off effect (opposite to the magnet effect) from two aspects. Firstly, from the viewpoint of dynamics, we study the existence of the cooling-off effect by following the dynamical evolution of some…
Economic model predictive control has been proposed as a means for solving the unit loading and unit allocation problem in multi-chiller cooling plants. The adjective economic stems from the use of financial cost due to electricity…
The rapid increase in computing demand and its corresponding energy consumption have focused attention on computing's impact on the climate and sustainability. Prior work proposes metrics that quantify computing's carbon footprint across…
For systems in an externally controllable time-dependent potential, the optimal protocol minimizes the mean work spent in a finite-time transition between two given equilibrium states. For overdamped dynamics which ignores inertia effects,…
Living systems maintain or increase local order by working against the Second Law of Thermodynamics. Thermodynamic consistency is restored as they dissipate heat, thereby increasing the net entropy of their environment. Recently introduced…
Time-of-Use (TOU) electricity pricing provides an opportunity for industrial users to cut electricity costs. Although many methods for Economic Load Dispatch (ELD) under TOU pricing in continuous industrial processing have been proposed,…
Achieving net-zero carbon emissions requires a transformation of energy systems, industrial processes, and consumption patterns. In particular, a transition towards that goal involves a gradual reduction of excess carbon emissions that are…