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Extreme events, exacerbated by climate change, pose significant risks to the energy system and its consumers. However there are natural limits to the degree of protection that can be delivered from a centralised market architecture.…
This paper proposes online algorithms for dynamic matching markets in power distribution systems, which at any real-time operation instance decides about matching -- or delaying the supply of -- flexible loads with available renewable…
The stability of the global food supply network is critical for ensuring food security. This study constructs an aggregated international food supply network based on the trade data of four staple crops and evaluates its structural…
We consider distributionally robust optimization (DRO) problems, reformulated as distributionally robust feasibility (DRF) problems, with multiple expectation constraints. We propose a generic stochastic first-order meta-algorithm, where…
he evaluation of the impact of actions undertaken is essential in management. This paper assesses the impact of efforts considered to mitigate risk and create safe environments on a global scale. We measure this impact by looking at the…
Disasters are constant threats to humankind, and beyond losses in lives, they cause many implicit yet profound societal issues such as wealth disparity and digital divide. Among those recovery measures in the aftermath of disasters,…
Modern macroeconomic theories were unable to foresee the last Great Recession and could neither predict its prolonged duration nor the recovery rate. They are based on supply-demand equilibria that do not exist during recessionary shocks.…
This paper proposes a novel method to co-optimize distribution system operation and repair crew routing for outage restoration after extreme weather events. A two-stage stochastic mixed integer linear program is developed. The first stage…
We study the effectiveness of recovery strategies for a dynamic model of failure spreading in networks. These strategies control the distribution of resources based on information about the current network state and network topology. In…
Threats on the stability of a financial system may severely affect the functioning of the entire economy, and thus considerable emphasis is placed on the analyzing the cause and effect of such threats. The financial crisis in the current…
This paper presents a novel approach to root cause attribution of delivery risks within supply chains by integrating causal discovery with reinforcement learning. As supply chains become increasingly complex, traditional methods of root…
Climate change has led to an increase in the frequency and severity of extreme weather events, posing significant challenges for power distribution systems. In response, this work presents a planning approach in order to enhance the…
System restoration is critical for power system resilience, nonetheless, its growing reliance on artificial intelligence (AI)-based load forecasting introduces significant cybersecurity risks. Inaccurate forecasts can lead to infeasible…
Supply networks are essential for modern production, yet their critical properties remain understudied. We present a stochastic model with random production capacities to analyze material flow to a root node, focusing on topology and buffer…
Certain new ascendant data center workloads can absorb some degradation in network service, not needing fully reliable data transport and/or their fair-share of network bandwidth. This opens up opportunities for superior network and…
We investigate the distributed DC-Optimal Power Flow (DC-OPF) problem for a dynamic and uncertain environment. The unpredictable supply of renewable resources and varying prices of the electricity market are a few factors responsible for…
Supply chain disruptions constitute an often underestimated risk for financial stability. As in financial networks, systemic risks in production networks arises when the local failure of one firm impacts the production of others and might…
Natural Disasters like hurricanes, floods or earthquakes can damage power grid devices and create cascading blackouts and islands. The nature of failure propagation and extent of damage is dependent on the structural features of the grid,…
Disasters often impact supply chains, leading to cascading effects across regions. While unaffected regions may attempt to compensate, their ability is constrained by their available production capacity and logistical constraints between…
Real-world dynamical systems with retardation effects are described in general not by a single, precisely defined time delay, but by a range of delay times. An exact mapping onto a set of $N+1$ ordinary differential equations exists when…