Related papers: Option to survive or surrender: carbon asset manag…
National carbon peak track and optimized provincial carbon allocations are crucial for mitigating regional inequality within the commercial building sector during China's transition to carbon neutrality. This study proposes a top-down model…
Even in the face of deteriorating and highly volatile demand, firms often invest in, rather than discard, aging technologies. In order to study this phenomenon, we model the firm's profit stream as a Brownian motion with negative drift. At…
Load shifting by commercial and industrial power consumers reduces costs and Scope 2 emissions for the consumer and the grid. Incentivizing this behavior requires tools for valuing flexibility amidst the heterogeneity in load…
Cost optimal scenarios derived from models of a highly renewable electricity system depend on the specific input data, cost assumptions and system constraints. Here this influence is studied using a techno-economic optimisation model for 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…
In classical thermodynamics the work cost of control can typically be neglected. On the contrary, in quantum thermodynamics the cost of control constitutes a fundamental contribution to the total work cost. Here, focusing on quantum…
We study the optimal solution to a general two-slope ski rental problem with a tail risk, i.e., the chance of the competitive ratio exceeding a value $\gamma$ is bounded by $\delta$. This extends the recent study of tail bounds for ski…
This study proposes a systematic non-kinetic deterrence path modeling framework based on strategic rare earth supply cut-off, aiming to assess the strategic effects of China's export control policy against the United States at the military…
We study linear policy approximations for the risk-conscious operation of an industrial energy system with uncertain wind power, significant and variable electricity demand, and high thermal output, as found in a modern foundry. The system…
Global warming is often framed in broad planetary numbers such as the 1.5C and 2C warming thresholds, creating the false impression that individual corporations efforts to reduce emissions are meaningless in the absence of collective…
We study auctions for carbon licenses, a policy tool used to control the social cost of pollution. Each identical license grants the right to produce a unit of pollution. Each buyer (i.e., firm that pollutes during the manufacturing…
We study the inbound supply mode and inventory management decision making for a company that sells an assortment of products. Stochastic demand for each product arrives periodically and unmet demand is backlogged. Each product has two…
We consider the homogenization of an optimal control problem in which the control is placed on a part of the boundary and the spatial domain contains a thin layer of "small particles", very close to the controlling boundary, and a Robin…
On the way towards carbon neutrality, climate stress testing provides estimates for the physical and transition risks that climate change poses to the economy and the financial system. Missing firm-level CO2 emissions data severely impedes…
How much free energy is irreversibly lost during a thermodynamic process? For deterministic protocols, lower bounds on energy dissipation arise from the thermodynamic friction associated with pushing a system out of equilibrium in finite…
In this paper, we undertake an investigation into the utility maximization problem faced by an economic agent who possesses the option to switch jobs, within a scenario featuring the presence of a mandatory retirement date. The agent needs…
This paper investigates the role of a transmission system operator within a carbon footprint reduction strategy incorporating carbon taxes and renewable energy generation subsidies in the decentralised energy market. This is achieved via an…
The energetic optimization problem, e.g., searching for the optimal switch- ing protocol of certain system parameters to minimize the input work, has been extensively studied by stochastic thermodynamics. In current work, we study this…
Deep decarbonization of the electricity sector can be provided by a high penetration of renewable sources such as wind, solar PV and hydro power. Flexibility from hydro and storage complements the high temporal variability of wind and…
This paper studies distributed optimal formation control with hard constraints on energy levels and termination time, in which the formation error is to be minimized jointly with the energy cost. The main contributions include a globally…