383 research outputs found
Resource Pricing In A Dynamic Multi-Commodity Market For Computational Resources
The adoption of market-based principles in resource management systems for
computational infrastructures such as grids and clusters allows for matching
demand and supply for resources in a utility maximizing manner. As such, they
offer a promise of producing more efficient resource allocations, compared to
traditional system-centric approaches that do not allow consumers and providers
to express their valuations for computational resources. In this paper, we
investigate the pricing of resources in grids through the use of a
computational commodity market of CPU resources, where resource prices are
determined through the computation of a supply-and-demand equilibrium. In
particular, we introduce several categories of CPUs characterized by their
execution speed. These differ in cost and performance but may be used
interchangeably in executing jobs and thus represent so-called substitutable
resources. We investigate the performance of the algorithms for computing the
supply-and-demand equilibrium in this multi-commodity setting under dynamically
varying consumer and provider populations.Comment: 14 Pages, IJCNC Journa
Analysis of Customer Portfolio and Relationship Management Models : Bridging Managerial Dimensions
This paper broadly discusses the customer portfolio theories and their implications in reference to marketing and purchasing perspectives. It provides an insight into how marketers interpret and describe companies' actions. The central theme of the paper - the tools that can be used to facilitate relationship management. The discussion in the paper provides a framework for relationship management, the central tenet of which is to enable managers to invest their resources in the most efficient and effective way. The contributions to the understanding of relationship management are critically reviewed in the following sections. The alternative models have been developed in reference to the market environment and values concepts in reference to the triadic relationship among the organization, supplier and customer has been discussed in the contemporary managerial perspectives. The paper also draws applied recommendations are made about their relevance to strategic decision making and theoretical development in the area of customer portfolio management.Customer portfolio, customer relationship, supplier relationship, decision making, customer value
Micro-economic Analysis of the Physical Constrained Markets: Game Theory Application to Competitive Electricity Markets
Competition has been introduced in the electricity markets with the goal of
reducing prices and improving efficiency. The basic idea which stays behind
this choice is that, in competitive markets, a greater quantity of the good is
exchanged at a lower and a lower price, leading to higher market efficiency.
Electricity markets are pretty different from other commodities mainly due to
the physical constraints related to the network structure that may impact the
market performance. The network structure of the system on which the economic
transactions need to be undertaken poses strict physical and operational
constraints. Strategic interactions among producers that game the market with
the objective of maximizing their producer surplus must be taken into account
when modeling competitive electricity markets. The physical constraints,
specific of the electricity markets, provide additional opportunity of gaming
to the market players. Game theory provides a tool to model such a context.
This paper discussed the application of game theory to physical constrained
electricity markets with the goal of providing tools for assessing the market
performance and pinpointing the critical network constraints that may impact
the market efficiency. The basic models of game theory specifically designed to
represent the electricity markets will be presented. IEEE30 bus test system of
the constrained electricity market will be discussed to show the network
impacts on the market performances in presence of strategic bidding behavior of
the producers.Comment: Accepted for publication in the European Journal of Physics B.
Presented at the Int. Conf. NEXT-SigmaPhi, 13-18 August 2005, Cret
The dynamics of technology diffusion and the impacts of climate policy instruments in the decarbonisation of the global electricity sector
This paper presents an analysis of climate policy instruments for the decarbonisation of the global electricity sector in a non-equilibrium economic and technology diffusion perspective. Energy markets are driven by innovation, path-dependent technology choices and diffusion. However, conventional optimisation models lack detail on these aspects and have limited ability to address the effectiveness of policy interventions because they do not represent decision-making. As a result, known effects of technology lock-ins are liable to be underestimated. In contrast, our approach places
investor decision-making at the core of the analysis and investigates how it drives the diffusion of low-carbon technology
in a highly disaggregated, hybrid, global macroeconometric model, FTT:Power-E3MG. Ten scenarios to 2050 of the electricity sector in 21 regions exploring combinations of electricity policy instruments are analysed, including their climate impacts. We show that in a diffusion and path-dependent perspective, the impact of combinations of policies does not correspond to the sum of impacts of individual instruments: synergies exist between policy tools. We argue that the carbon price required to break the current fossil technology lock-in can be much lower when combined with other policies, and that a 90% decarbonisation of the electricity sector by 2050 is affordable without early scrapping.This work
was supported by the Three Guineas Trust (A. M. Foley),
Cambridge Econometrics (H. Pollitt and U. Chewpreecha),
Conicyt (Comisión Nacional de Investigación Científica y
Tecnológica, Gobierno de Chile) and the Ministerio de
Energía, Gobierno de Chile (P. Salas), the EU Seventh
Framework Programme grant agreement No 265170 ‘ER-MITAGE’ (N. Edwards and P. Holden) and the UK Engineering and Physical Sciences Research Council, fellowship
number EP/K007254/1 (J.-F. Mercure).This is the final published version. It's also available from http://www.sciencedirect.com/science/article/pii/S0301421514004017#
Agent-Based Modeling: The Right Mathematics for the Social Sciences?
This study provides a basic introduction to agent-based modeling (ABM) as a powerful blend of classical and constructive mathematics, with a primary focus on its applicability for social science research.� The typical goals of ABM social science researchers are discussed along with the culture-dish nature of their computer experiments. The applicability of ABM for science more generally is also considered, with special attention to physics. Finally, two distinct types of ABM applications are summarized in order to illustrate concretely the duality of ABM: Real-world systems can not only be simulated with verisimilitude using ABM; they can also be efficiently and robustly designed and constructed on the basis of ABM principles. �
Would Hotelling Kill the Electric Car?
In this paper, we show that the potential for endogenous technological change in alternative energy sources may alter the behaviour of resource-owning firms. When technological progress in an alternative energy source can occur through learning-by-doing, resource owners face competing incentives to extract rents from the resource and to prevent expansion of the new technology. We show that in such a context, it is not necessarily the case that scarcity-driven higher traditional energy prices over time will induce alternative energy supply as resources are exhausted. Rather, we show that as we increase the learning potential in the substitute technology, lower equilibrium energy prices prevail and there may be increased resource extraction and greenhouse gas emissions. We show that the effectiveness and the incidence of emissions reduction policies may be altered by increased potential for technological change. Our results suggest that treating finite resource rents as endogenous consequences of both technological progress and policy changes will be important for the accurate assessment of climate change policy.
Application of Optimization in Production, Logistics, Inventory, Supply Chain Management and Block Chain
The evolution of industrial development since the 18th century is now experiencing the fourth industrial revolution. The effect of the development has propagated into almost every sector of the industry. From inventory to the circular economy, the effectiveness of technology has been fruitful for industry. The recent trends in research, with new ideas and methodologies, are included in this book. Several new ideas and business strategies are developed in the area of the supply chain management, logistics, optimization, and forecasting for the improvement of the economy of the society and the environment. The proposed technologies and ideas are either novel or help modify several other new ideas. Different real life problems with different dimensions are discussed in the book so that readers may connect with the recent issues in society and industry. The collection of the articles provides a glimpse into the new research trends in technology, business, and the environment
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A Model for Cost-Benefit Analysis of Cloud Computing
Cloud computing is emerging as a powerful computing paradigm with its aim of efficient resource utilization and contribution to Green IT. However, the decision of shifting to cloud computing always remains risky from customer\u27s perspective considering the benefits they would attain by doing so. The extant research on cloud computing focuses more on technical aspects like security, quality, efficiency etc. However, the research on adoption of cloud computing is at its infancy stage. Therefore, this paper attempts to come up with a model to analyze the cost benefits to decide upon the adoptability of cloud computing. It takes into consideration various parameters of an organization such as number of servers, power requirements and other computational/non-computational resources. This model uses a three layer approach for the cost-benefit analysis and draws insights on profitability when an organization shifts to cloud computing in each layer. The three layers are base cost estimation, data pattern based cost estimation and project specific cost estimation. These layers are designed to provide different levels of decision making to aid managers in their attempt to find out the prospects of adopting cloud computing in their organization. The data for cost benefit analysis was collected from organizations that comprised of both small scale and large scale datacenters. It was found that cloud computing is profitable for start-ups and small firms (small scale datacenters) when compared to well-established firms
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