Related papers: Causes of Excess Capacity
A set of density functionals coming from different rungs on Jacob's ladder are employed to evaluate the electronic excited states of three Ru(II) complexes. While most studies on the performance of density functionals compare the vertical…
The distribution of facilities is closely related to our social economic activities. Recent studies have reported a scaling relation between population and facility density with the exponent depending on the type of facility. In this paper,…
We present a capacity expansion model for deciding the new electricity generation and transmission capacity to complement an existing hydroelectric reservoir system. The objective is to meet a forecast demand at least expected cost, namely…
Productions functions map the inputs of a firm or a productive system onto its outputs. This article expounds generalizations of the production function that include state variables, organizational structures and increasing returns to…
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…
Epidemics of infectious diseases posing a serious risk to human health have occurred throughout history. During recent epidemics there has been much debate about policy, including how and when to impose restrictions on behaviour.…
Economic withholding in electricity markets refers to generators bidding higher than their true marginal fuel cost, and is a typical approach to exercising market power. However, existing market designs require storage to design bids…
Recent works show conflicting results: network capacity may increase or decrease with higher transmission power under different scenarios. In this work, we want to understand this paradox. Specifically, we address the following questions:…
Some issues that arise when modeling elastic energy for binary alloys are discussed within the context of a Keating model and density functional calculations. The Keating model is based on atomistic modeling of elastic interactions in…
The integration of more intermittent generation, energy storage, and dynamic loads on top of a competitive market environment requires future grids to handle increasing diversity of power injection states. Grid planners need new tools and…
Experimental evidence confirms that AI tools raise worker productivity, but also that sustained use can erode the expertise on which those gains depend. We develop a dynamic model in which a decision-maker chooses AI usage intensity for a…
We propose a Capabilities-based approach for building long-lived, complex systems that have lengthy development cycles. User needs and technology evolve during these extended development periods, and thereby, inhibit a fixed…
Excess work is a non-diverging part of the work during transition between nonequilibrium steady states (NESSs). It is a central quantity in the steady state thermodynamics (SST), which is a candidate for nonequilibrium thermodynamics…
Human and artificial organizations may be described as networks of interacting parts. Those parts exchange data and control information and, as a result of these interactions, organizations produce emergent behaviors and purposes -- traits…
Matching the demand for resources ("load") with the supply of resources ("capacity") is a basic problem occurring across many fields of engineering, logistics, and economics, and has been considered extensively both in the Internet and in…
Some reasons for high leverage are analytically investigated by decomposing leverage into meaningful components. The results in this work can be used for remedial action as a next step of data analysis.
Early theories of perception as probabilistic inference propose that uncertainty about the interpretation of sensory input is represented as a probability distribution over many interpretations -- a relatively complex representation.…
We use a recent, high-quality data set from Nasdaq to perform an empirical analysis of order flow in a limit order book (LOB) before and after the arrival of a market order. For each of the stocks that we study, we identify a sequence of…
Active solids consist of elastically coupled out-of-equilibrium units performing work. They are central to autonomous processes, such as locomotion, self-oscillations and rectification, in biological systems,designer materials and robotics.…
We study several models of growth driven by innovation and imitation by a continuum of firms, focusing on the interaction between the two. We first investigate a model on a technology ladder where innovation and imitation combine to…