Stochastic Programming
Stochastic Programming

Author: Horand Gassmann

Publisher: World Scientific

Published: 2013

Total Pages: 549

ISBN-13: 981440750X

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This book shows the breadth and depth of stochastic programming applications. All the papers presented here involve optimization over the scenarios that represent possible future outcomes of the uncertainty problems. The applications, which were presented at the 12th International Conference on Stochastic Programming held in Halifax, Nova Scotia in August 2010, span the rich field of uses of these models. The finance papers discuss such diverse problems as longevity risk management of individual investors, personal financial planning, intertemporal surplus management, asset management with benchmarks, dynamic portfolio management, fixed income immunization and racetrack betting. The production and logistics papers discuss natural gas infrastructure design, farming Atlantic salmon, prevention of nuclear smuggling and sawmill planning. The energy papers involve electricity production planning, hydroelectric reservoir operations and power generation planning for liquid natural gas plants. Finally, two telecommunication papers discuss mobile network design and frequency assignment problems.

Data Analytics Applications in Latin America and Emerging Economies
Data Analytics Applications in Latin America and Emerging Economies

Author: Eduardo Rodriguez

Publisher: CRC Press

Published: 2017-07-28

Total Pages: 272

ISBN-13: 1351673173

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This book focuses on understanding the analytics knowledge management process and its comprehensive application to various socioeconomic sectors. Using cases from Latin America and other emerging economies, it examines analytics knowledge applications where a solution has been achieved. Written for business students and professionals as well as researchers, the book is filled with practical insight into applying concepts and implementing processes and solutions. The eleven case studies presented in the book incorporate the whole analytics process and are useful reference examples for applying the analytics process for SME organizations in both developing and developed economies. The cases also identify multiple tacit factors to deal with during the implementation of analytics knowledge management processes. These factors, which include data cleaning, data gathering, and interpretation of results, are not always easily identified by analytics practitioners. This book promotes the understanding of analytics methods and techniques. It guides readers through numerous techniques and methods available to analytics practitioners by explaining the strengths and weaknesses of these methods and techniques.

Operations Research and Enterprise Systems
Operations Research and Enterprise Systems

Author: Begoña Vitoriano

Publisher: Springer

Published: 2017-02-14

Total Pages: 270

ISBN-13: 3319539825

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This book constitutes revised selected papers from the 5th International Conference on Operations Research and Enterprise Systems, ICORES 2016, held in Rome, Italy, in February 2016. The 14 papers presented in this volume were carefully reviewed and selection from a total of 75 submissions. They are organized in topical sections named: methodologies and technologies; and applications.

Handbook of Risk Management in Energy Production and Trading
Handbook of Risk Management in Energy Production and Trading

Author: Raimund M. Kovacevic

Publisher: Springer Science & Business Media

Published: 2013-11-27

Total Pages: 506

ISBN-13: 1461490359

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This book presents an overview of the risks involved in modern electricity production, delivery and trading, including technical risk in production, transportation and delivery, operational risk for the system operators, market risks for traders, and political and other long term risks in strategic management. Using decision making under uncertainty as a methodological background, the book is divided into four parts, with Part I focusing on energy markets, particularly electricity markets. Topics include a nontechnical overview of energy markets and their main properties, basic price models for energy commodity prices, and modeling approaches for electricity price processes. Part II looks at optimal decisions in managing energy systems, including hydropower dispatch models, cutting plane algorithms and approximative dynamic programming; hydro-thermal production; renewable; stochastic investments and operational optimization models for natural gas transport; decision making in operating electricity networks; and investment in extending energy production systems. Part III explores pricing, including electricity swing options and the pricing of derivatives with volume control. Part IV looks at long-term and political risks, including energy systems under aspects of climate change, and catastrophic operational risks, particularly risks from terrorist attacks.

The Fascination of Probability, Statistics and their Applications
The Fascination of Probability, Statistics and their Applications

Author: Mark Podolskij

Publisher: Springer

Published: 2015-12-26

Total Pages: 529

ISBN-13: 3319258265

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Collecting together twenty-three self-contained articles, this volume presents the current research of a number of renowned scientists in both probability theory and statistics as well as their various applications in economics, finance, the physics of wind-blown sand, queueing systems, risk assessment, turbulence and other areas. The contributions are dedicated to and inspired by the research of Ole E. Barndorff-Nielsen who, since the early 1960s, has been and continues to be a very active and influential researcher working on a wide range of important problems. The topics covered include, but are not limited to, econometrics, exponential families, Lévy processes and infinitely divisible distributions, limit theory, mathematical finance, random matrices, risk assessment, statistical inference for stochastic processes, stochastic analysis and optimal control, time series, and turbulence. The book will be of interest to researchers and graduate students in probability, statistics and their applications.

World Scientific Series in Finance
World Scientific Series in Finance

Author: Nils Hemming Hakansson

Publisher: World Scientific

Published: 2013

Total Pages: 146

ISBN-13: 9814407976

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The aim of this book is to document, on a solid and convincing foundation, two public policy mistakes of the United States Government that have been extremely costly. First, the failure to combine stocks with long-term government bonds in the Social Security Trust Fund, the way other nations do, has resulted not only in an investment shortfall well into the trillions of dollars, but has also reduced US and global economic growth and increased the national debt. Second, by employing the Unified Budget concept beginning in 1970, the US Government has since then understated its financial deficits by more than $4 trillion and in doing so it has shielded the increase in the debt owed to the public by roughly half.This study documents that the notion of Social Security as a minimal safety net is consistent with the views of both Adam Smith and Friedrich Hayek and that private social security accounts are inefficient and subject to moral hazard and huge productivity losses. It also introduces a novel approach to long-term investing suitable for perpetual funds consistent with the empirical phenomena of risk premia and mean reversion, including no asset sales and the use of short-term borrowing on a rollover basis to cover negative net inflows.The study also proposes that payroll taxes be re-labeled Social Security Contributions and that the Social Security System be made independent and professionally managed based on the Federal Reserve System model.

Managing And Measuring Of Risk: Emerging Global Standards And Regulations After The Financial Crisis
Managing And Measuring Of Risk: Emerging Global Standards And Regulations After The Financial Crisis

Author: Oliviero Roggi

Publisher: World Scientific

Published: 2013-02-20

Total Pages: 519

ISBN-13: 9814417513

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This edited volume presents the most recent achievements in risk measurement and management, as well as regulation of the financial industry, with contributions from prominent scholars and practitioners such as Robert Engle, 2003 Nobel Laureate in Economics, Viral Acharya, Torben Andersen, Zvi Bodie, Menachem Brenner, Aswath Damodaran, Marti Subrahmanyam, William Ziemba and others. The book provides a comprehensive overview of recent emerging standards in risk management from an interdisciplinary perspective. Individual chapters expound on the theme of standards setting in this era of financial crises where new and unseen global risks have emerged. They are organized in a such a way that allows the reader a broad perspective of the new emerging standards in macro, systemic and sovereign risk before zooming into the micro perspective of how risk is conceived and treated within a corporation. A section is dedicated to credit risk and to the increased importance of liquidity both in financial systems and at the firm's level.

Managing and Measuring of Risk
Managing and Measuring of Risk

Author: Oliviero Roggi

Publisher: World Scientific

Published: 2013

Total Pages: 519

ISBN-13: 9814417505

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This volume presents the most recent achievements in risk measurement and management, as well as regulation of the financial industry, with contributions from prominent scholars and practitioners, and provides a comprehensive overview of recent emerging standards in risk management from an interdisciplinary perspective.

Service Oriented, Holonic and Multi-Agent Manufacturing Systems for Industry of the Future
Service Oriented, Holonic and Multi-Agent Manufacturing Systems for Industry of the Future

Author: Theodor Borangiu

Publisher: Springer Nature

Published: 2023-02-01

Total Pages: 452

ISBN-13: 3031242912

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The scientific theme of the book is “Virtualisation – a multifaceted key enabler of Industry 4.0 from holonic to cloud manufacturing” which is addressed in the framework of cyber-physical system development. The book approaches cyber-physical systems for manufacturing with emergent digital technologies: Internet of Things, digital twins (based on the virtualization of production models embedded in the design, virtual commissioning, optimization and resilience of processes and fault tolerance of resources), big data, cloud control and computing, machine learning and cobots, that are applied in the book’s chapters to industry and service sectors such as manufacturing, energy, logistics, construction and health care. The novelty of this approach consists in interpreting and applying the characteristics of RAMI4.0—the reference architecture model of the Industry 4.0 framework—as combinations of virtualized cyber-physical system elements and IT components in life cycle value stream models. The general scope of the book is to foster innovation in smart and sustainable manufacturing and logistics systems and in this context to promote concepts, methods and solutions for the digital transformation of manufacturing through service orientation in holonic and agent-based control with distributed intelligence. The book’s readership is comprised by researchers and engineers working in the manufacturing value chain area who develop and use digital control solutions in the “Industry of the Future” vision. The book also addresses to master’s and Ph.D. students enrolled in Engineering Sciences programs.