Related papers: Option to survive or surrender: carbon asset manag…
Throttling in graphs optimizes a sum or product of resources used, such as the number of vertices in an initial set, and time required, such as the propagation time, to complete a given task. We introduce a new technique to establish sharp…
We study merchant energy production modeled as a compound switching and timing option. The resulting Markov decision process is intractable. State-of-the-art approximate dynamic programming methods applied to realistic instances of this…
This paper explores the optimal policy for using an allocated carbon emission budget over time with the objective to maximize profit, by explicitly taking into account present-biased preferences of decision-makers, accounting for…
This paper tests the feasibility and estimates the cost of climate control through economic policies. It provides a toolbox for a statistical historical assessment of a Stochastic Integrated Model of Climate and the Economy, and its use in…
Market participants regularly send bid and ask quotes to exchange-operated limit order books. This creates an optimization challenge where their potential profit is determined by their quoted price and how often their orders are…
Thermodynamic systems that preserve information against thermal fluctuations face a tradeoff distinct from transmission (Shannon) or erasure (Landauer). We formalize the preservation problem by defining the preservation stiffness…
China accounts for one-third of the world's total carbon emissions. How to reach the peak of carbon emissions by 2030 and achieve carbon neutrality by 2060 to ensure the effective realization of the "dual-carbon" target is an important…
The combined increase of energy demand and environmental pollution at a global scale is entailing a rethinking of the production models in sustainable terms. As a consequence, energy suppliers are starting to adopt strategies that flatten…
The widespread use of industrial refrigeration systems across various sectors contribute significantly to global energy consumption, highlighting substantial opportunities for energy conservation through intelligent control design. As such,…
This paper presents a branch-and-bound algorithm, enhanced with bin packing strategies, for scheduling under variable energy pricing and power-saving states. The proposed algorithm addresses the 1,TOU|states|TEC problem, which involves…
In this paper, we investigate dynamic optimization problems featuring both stochastic control and optimal stopping in a finite time horizon. The paper aims to develop new methodologies, which are significantly different from those of mixed…
The optimal control of sustainable energy supply systems, including renewable energies and energy storage, takes a central role in the decarbonization of industrial systems. However, the use of fluctuating renewable energies leads to…
Disasters and disruptions such as the COVID-19 pandemic can significantly interrupt supply chains and industries. To control these disruptions, decision-makers must focus on supply chain resiliency. This paper proposes a multi-stage,…
The increasing electric vehicle (EV) adoption challenges the energy management of charging stations (CSs) due to the large number of EVs and the underlying uncertainties. Moreover, the carbon footprint of CSs is growing significantly due to…
Climate change and global warming are among the most significant issues that humanity is currently facing, and also among the issues that pose the greatest threats to all mankind. These issues are primarily driven by abnormal increases in…
Demand-side energy management, such as the real-time pricing (RTP) program, offers manufacturers opportunities to reduce energy costs by shifting production to low-price hours. However, this strategy is challenging to implement when machine…
From thermodynamics point of view, in this era of aiming at energy conservation and sustainability, we need to develop more accurate ways to design thermal power, cooling and heat pump cycles. It has been the general practice in…
The decarbonization of the power sector plays a pivotal role in economy-wide decarbonization to set the world on track to limit warming to 1.5{\deg}C by 2050. Carbon emission markets can play a significant role in this transition by putting…
Regional differences in carbon emission efficiency arise from disparities in resource distribution, industrial structure, and development level, which are often influenced by government policy preferences. However, currently, most studies…
This paper explores stochastic control models in the context of decarbonization within the energy market. We study three progressively complex scenarios: (1) a single firm operating with two technologies-one polluting and one clean,(2)two…