Financial crises in emerging market economies induce diverging patterns of ownership stakes and subsequent divestiture rates among domestic and foreign acquirers. We rationalize these empirical findings in a tractable model where domestic acquirers are sub ...
From 1973 to 2014, the common stock of U.S. banks with loan growth in the top quartile of banks over a three-year period significantly underperformed the common stock of banks with loan growth in the bottom quartile over the next three years. After the per ...
Uncertainty levels in forecasting of renewable generation and demand are known to affect the amount of reserve required to operate the power grid with a given level of reliability. In this paper, we quantify the effects on the system reserve and reliabilit ...
This paper presents a real-world application of stochastic programming in the Swiss hydro-based system. The seasonal hydrological conditions may cause insufficient market volume to an extent that security criteria (i.e., the criteria determining of reserve ...
This paper proposes an appropriate offering strategy method for an electric railway company (ERC) to participate in reserve markets. In this respect, first the problem of energy and reserve scheduling for the ERC is modeled in a deterministic way. Next, a ...
IEEE Institute of Electrical and Electronics Engineers2016
This paper proposes a decentralized methodology to optimally schedule generating units while simultaneously determining the geographical allocation of the required reserve.We consider an interconnected multi-area power systemwith cross-border trading in th ...
IEEE Institute of Electrical and Electronics Engineers2014
The reserve is a service traded in the market to counteract unpredictable changes in system conditions. The efficient market-clearing procedure relies on economic criteria while maintaining the system security by means of a proper reserve management progra ...
