Optimal Hour-Ahead Bidding in the Real-Time Electricity Market with Battery Storage using Approximate Dynamic Programming

There is growing interest in the use of grid-level storage to smooth variations in supply that are likely to arise with increased use of wind and solar energy. Energy arbitrage, the process of buying, storing, and selling electricity to exploit variations in electricity spot prices, is becoming an important way of paying for expensive investments into grid-level storage. Independent system operators such as the NYISO (New York Independent System Operator) require that battery storage operators place bids into an hour-ahead market (although settlements may occur in increments as small as 5 minutes, which is considered near "real-time"). The operator has to place these bids without knowing the energy level in the battery at the beginning of the hour, while simultaneously accounting for the value of leftover energy at the end of the hour. The problem is formulated as a dynamic program. We describe and employ a convergent approximate dynamic programming (ADP) algorithm that exploits monotonicity of the value function to find a revenue-generating bidding policy; using optimal benchmarks, we empirically show the computational benefits of the algorithm. Furthermore, we propose a distribution-free variant of the ADP algorithm that does not require any knowledge of the distribution of the price process (and makes no assumptions regarding a specific real-time price model). We demonstrate that a policy trained on historical real-time price data from the NYISO using this distribution-free approach is indeed effective.Comment: 28 pages, 11 figure

Functional Renormalization for Chiral and U_A(1) Symmetries at Finite Temperature

We investigated the chiral symmetry and U_A(1) anomaly at finite temperature by applying the functional renormalization group to the SU(3) linear sigma model. Expanding the local potential around the classical fields, we derived the flow equations for the renormalization parameters. In chiral limit, the flow equation for the chiral condensate is decoupled from the others and can be analytically solved. The Goldstone theorem is guaranteed in vacuum and at finite temperature, and the two phase transitions for the chiral and U_A(1) symmetry restoration happen at the same critical temperature. In general case with explicit chiral symmetry breaking, the two symmetries are partially and slowly restored, and the scalar and pseudoscalar meson masses are controlled by the restoration in the limit of high temperature.Comment: 9 pages, 9figure

Physiological assessment of operator workload during manual tracking. 1: Pupillary responses

The feasibility of pupillometry as an indicator for assessing operator workload during manual tracking was studied. The mean and maximum pupillary responses of 12 subjects performing tracking tasks with three levels of difficulty (bandwidth of the forcing function were 0.15, 0.30 and 0.50 Hz respectively) were analysed. The results showed that pupillary dilation increased significantly as a function of the tracking difficulty which was reflected by the significant increase of tracking error (RMS). The present study supplies additional evidence that pupillary response is a sensitive and reliable index which may serve as an indicator for assessing operator workload in man-machine systems

The impact of financial histories on individuals and societies: A replication of and extension of Berg el al. (1995)

We replicate and extend the social history treatment of the Berg, Dickhaut, and McCabe (1995) investment game, to further document how the reporting of financial history influences how laboratory societies organize themselves over time. We replicate Berg et al. (1995) by conducting a No History and a Financial History session to determine whether a report summarizing the financial transactions of a previous experimental session will significantly reduce entropy in the amounts sent by Investors and returned by Stewards in the investment game, as Berg et al. (1995) found. We extend Berg et al. (1995) in two ways. First, we conduct a total of five sessions (one No History and four Financial History sessions). Second, we introduce Shannon's (1948) measure of entropy from information theory to assess whether the introduction of financial transaction history reduces the amount of dispersion in the amounts invested and returned across generations of players. Results across sessions indicate that entropy declined in both the amounts sent by Investors and the percentage returned by Stewards, but these patterns are weaker and mixed compared to those in the Berg et al. (1995) study. Additional research is needed to test how initial conditions, path dependencies, actors' strategic reasoning about others' behavior, multiple sessions, and communication may mediate the impact of financial history. The study's multiple successive Financial History sessions and entropy measure are new to the investment game literature

Relativistic Ring-Diagram Nuclear Matter Calculations

A relativistic extension of the particle-particle hole-hole ring-diagram many-body formalism is developed by using the Dirac equation for single-particle motion in the medium. Applying this new formalism, calculations are performed for nuclear matter. The results show that the saturation density is improved and the equation of state becomes softer as compared to corresponding Dirac-Brueckner-Hartree-Fock calculations. Using the Bonn A potential, nuclear matter is predicted to saturate at an energy per nucleon of --15.30 MeV and a density equivalent to a Fermi momentum of 1.38 fm$^{-1}$, in excellent agreement with empirical information. The compression modulus is 152 MeV at the saturation point.Comment: 23 pages text (LaTex) and 2 figures (paper, will be faxed upon request), UI-NTH-92-0