WorldWideScience

Sample records for space market model

  1. Retail gentrification. Staged spaces and the gourmet market model

    Directory of Open Access Journals (Sweden)

    Luz de Lourdes Cordero Gómez del Campo

    2017-12-01

    Full Text Available Retail gentrification is understood as a process in which commercial activity is transformed to meet the needs of a sector of the population with higher incomes resulting in the displacement of merchants and products, seen from the implementation of the model of the gourmet market. This process, which is seen in the interest of copying the commercial formats of successful cases from gourmet markets such as the San Miguel Market in Madrid or the Borough Market in London, is linked to an offer aimed at satisfying consumption demands produced by a sector of the population that although not being equivalent concepts, different authors identify as cultural omnivores or creative class, coinciding in that these groups have a high cultural and economic capital. In the present work it is discussed how in Mexico City in the absence of the transformation of public markets into gourmet markets and with the inauguration of the Roma Market in 2014, the staging of commercial spaces labeled as gourmet markets has intensified and they are inserted in neighborhoods where they seek to generate development and links with the community, but because of their prices and the characteristics of the products they offer, they are beyond the reach of the local population.

  2. Heterarcical market: Dynamical interplay between time and space in the continuous interaction in a market model

    Science.gov (United States)

    Sasai, Kazuto; Gunji, Yukio-Pegio; Kinoshita, Tetsuo

    2017-07-01

    Multi-agent models of robust open systems such as natural systems are the important theme in the literature of systems science. Heterarchy, which means dynamical hierarchy, is a structural model, which includes the dynamical interplay between different levels. However, it is not easy to build a formal model of a heterarchical system because the interplay between different levels lead a self-referential paradox. In this paper, we propose an continuous double auction model, which includes a formal model of conitnuous transaction. We encode the model into a restriction rule of the order submittion. The proposed model shows a critical behavior of the actual markets, and it can have the relationship with the behaviors of natural systems.

  3. MARKETING MODELS APPLICATION EXPERIENCE

    Directory of Open Access Journals (Sweden)

    A. Yu. Rymanov

    2011-01-01

    Full Text Available Marketing models are used for the assessment of such marketing elements as sales volume, market share, market attractiveness, advertizing costs, product pushing and selling, profit, profitableness. Classification of buying process decision taking models is presented. SWOT- and GAPbased models are best for selling assessments. Lately, there is a tendency to transfer from the assessment on the ba-sis of financial indices to that on the basis of those non-financial. From the marketing viewpoint, most important are long-term company activities and consumer drawingmodels as well as market attractiveness operative models.

  4. Designing carbon markets, Part II: Carbon markets in space

    International Nuclear Information System (INIS)

    Fankhauser, Samuel; Hepburn, Cameron

    2010-01-01

    This paper analyses the design of carbon markets in space (i.e., geographically). It is part of a twin set of papers that, starting from first principles, ask what an optimal global carbon market would look like by around 2030. Our focus is on firm-level cap-and-trade systems, although much of what we say would also apply to government-level trading and carbon offset schemes. We examine the 'first principles' of spatial design to maximise flexibility and to minimise costs, including key design issues in linking national and regional carbon markets together to create a global carbon market.

  5. Space and industrial markets for photovoltaics

    Energy Technology Data Exchange (ETDEWEB)

    Huggins, C.R.; Hardingham, C.M.

    2000-07-01

    This report presents a review of applications, technologies and markets for photovoltaic power (PV) supplies. A brief history of PV and PV principles is presented, and an overview of the satellite industry is given. Space arrays, space PV, terrestrial PV, and thermo photovoltaics are examined. Targets and constraints in space and terrestrial solar cells are compared, and details of commercial market sizes for given technologies in space and terrestrial PV in 1999, and technical barriers to be overcome towards development of existing products are tabulated. The scope for cross-culture interaction in all aspects of manufacturing, testing and evaluation in the PV devices are considered. (UK)

  6. Space and industrial markets for photovoltaics

    International Nuclear Information System (INIS)

    Huggins, C.R.; Hardingham, C.M.

    2000-01-01

    This report presents a review of applications, technologies and markets for photovoltaic power (PV) supplies. A brief history of PV and PV principles is presented, and an overview of the satellite industry is given. Space arrays, space PV, terrestrial PV, and thermo photovoltaics are examined. Targets and constraints in space and terrestrial solar cells are compared, and details of commercial market sizes for given technologies in space and terrestrial PV in 1999, and technical barriers to be overcome towards development of existing products are tabulated. The scope for cross-culture interaction in all aspects of manufacturing, testing and evaluation in the PV devices are considered. (UK)

  7. Reconstructing an economic space from a market metric

    OpenAIRE

    Mendes, R. Vilela; Araújo, Tanya; Louçã, Francisco

    2002-01-01

    Using a metric related to the returns correlation, a method is proposed to reconstruct an economic space from the market data. A reduced subspace, associated to the systematic structure of the market, is identified and its dimension related to the number of terms in factor models. Example were worked out involving sets of companies from the DJIA and S&P500 indexes. Having a metric defined in the space of companies, network topology coefficients may be used to extract further information from ...

  8. Traffic model for commercial payloads in the Materials Experiment Assembly (MEA). [market research in commercial space processing

    Science.gov (United States)

    Tietzel, F. A.

    1979-01-01

    One hundred individuals representing universities, technical institutes, government agencies, and industrial facilities were surveyed to determine potential commercial use of a self-contained, automated assembly for the space processing of materials during frequent shuttle flights for the 1981 to 1987 period. The approach used and the results of the study are summarized. A time time-phased projection (traffic model) of commercial usage of the materials experiment assembly is provided.

  9. Space Situational Awareness using Market Based Agents

    Science.gov (United States)

    Sullivan, C.; Pier, E.; Gregory, S.; Bush, M.

    2012-09-01

    Space surveillance for the DoD is not limited to the Space Surveillance Network (SSN). Other DoD-owned assets have some existing capabilities for tasking but have no systematic way to work collaboratively with the SSN. These are run by diverse organizations including the Services, other defense and intelligence agencies and national laboratories. Beyond these organizations, academic and commercial entities have systems that possess SSA capability. Most all of these assets have some level of connectivity, security, and potential autonomy. Exploiting them in a mutually beneficial structure could provide a more comprehensive, efficient and cost effective solution for SSA. The collection of all potential assets, providers and consumers of SSA data comprises a market which is functionally illiquid. The development of a dynamic marketplace for SSA data could enable would-be providers the opportunity to sell data to SSA consumers for monetary or incentive based compensation. A well-conceived market architecture could drive down SSA data costs through increased supply and improve efficiency through increased competition. Oceanit will investigate market and market agent architectures, protocols, standards, and incentives toward producing high-volume/low-cost SSA.

  10. THE SPORT MARKETING MANAGEMENT MODEL

    Directory of Open Access Journals (Sweden)

    Alexandru Lucian MIHAI

    2015-06-01

    Full Text Available Sport marketing involves marketing fundamentals applied in one industry, the sport business industry. The development of sport marketing fundamentals is therefore based on basic marketing principles. The practice and activities of sport marketing are also based on basic marketing activities, but are modified and adapted to the sport business industry. Therefore, sport marketing is based on its primary and parent discipline - marketing. Sport marketing is one of the most important functions of a sport business. This is because the sport marketing activities will define the business. The growth of the sport industry is phenomenal and shows no signs of slowing. Also, sport marketing is a process. A process is a continuous cycle. Therefore, marketing is a function that never ends. The sport marketing management model is an illustration of the elements and process of sport marketing. It should serve as a guide for managing the company’s marketing functions. The model illustrates the elements of marketing, the succession of elements and functions, the process of managing, and the interdependence of the elements This paper presents an overview of the model, sport marketing management, each element and the process.

  11. Modelling Market Dynamics with a "Market Game"

    Science.gov (United States)

    Katahira, Kei; Chen, Yu

    In the financial market, traders, especially speculators, typically behave as to yield capital gains by the difference between selling and buying prices. Making use of the structure of Minority Game, we build a novel market toy model which takes account of such the speculative mind involving a round-trip trade to analyze the market dynamics as a system. Even though the micro-level behavioral rules of players in this new model is quite simple, its macroscopic aggregational output has the reproducibility of the well-known stylized facts such as volatility clustering and heavy tails. The proposed model may become a new alternative bottom-up approach in order to study the emerging mechanism of those stylized qualitative properties of asset returns.

  12. Handbook of Marketing Decision Models

    NARCIS (Netherlands)

    B. Wierenga (Berend)

    2008-01-01

    textabstractThis book presents the state of the art in marketing decision models, dealing with new modeling areas such as customer relationship management, customer value and online marketing, but also describes recent developments in other areas. In the category of marketing mix models, the latest

  13. COMMODITY MARKET MATH MODELS

    Directory of Open Access Journals (Sweden)

    Boris V. Mednikov

    2015-01-01

    Full Text Available The article describes enterprise mathmodels, its interactions with environment in commodity market and quantitativeconditions for its success and the crisis in such kind of interaction. Showed: the number of commodity market successfulparticipants should be certain, regardless of market size; any size commodity market, including monopolistic, is assuccessful as producers’ average activity dynamics is balanced with consumers’average activity dynamics.

  14. Modeling Dynamic Effects of the Marketing Mix on Market Shares

    NARCIS (Netherlands)

    D. Fok (Dennis); R. Paap (Richard); Ph.H.B.F. Franses (Philip Hans)

    2003-01-01

    textabstractTo comprehend the competitive structure of a market, it is important to understand the short-run and long-run effects of the marketing mix on market shares. A useful model to link market shares with marketing-mix variables, like price and promotion, is the market share attraction model.

  15. Space Environment Modeling

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — Collection includes presentation materials and outputs from operational space environment models produced by the NOAA Space Weather Prediction Center (SWPC) and...

  16. On discourse space modeling

    OpenAIRE

    Казыдуб, Надежда

    2013-01-01

    Discourse space is a complex structure that incorporates different levels and dimensions. The paper focuses on developing a multidisciplinary approach that is congruent to the complex character of the modern discourse. Two models of discourse space are proposed here. The Integrated Model reveals the interaction of different categorical mechanisms in the construction of the discourse space. The Evolutionary Model describes the historical roots of the modern discourse. It also reveals historica...

  17. Green Tourism Marketing Model1

    OpenAIRE

    Hasan, Ali

    2015-01-01

    Green Tourism Marketing Model research as efforts to develop environmentally friendly tourism destination, the synergy of government, business and community participation become the driving force of tourism product development with highly competitive. In the long term, this research aims to provide the marketing concept of green tourism as economic development efforts and strengthen the environment (eco-growth) through the development of green tourism marketing models. The ...

  18. Marketing Modeling for New Products

    NARCIS (Netherlands)

    C. Hernández-Mireles (Carlos)

    2010-01-01

    textabstractThis thesis addresses the analysis of new or very recent marketing data and the introduction of new marketing models. We present a collection of models that are useful to analyze (1) the optimal launch time of new and dominant technologies, (2) the triggers, speed and timing of new

  19. A Financial Market Model Incorporating Herd Behaviour.

    Science.gov (United States)

    Wray, Christopher M; Bishop, Steven R

    2016-01-01

    Herd behaviour in financial markets is a recurring phenomenon that exacerbates asset price volatility, and is considered a possible contributor to market fragility. While numerous studies investigate herd behaviour in financial markets, it is often considered without reference to the pricing of financial instruments or other market dynamics. Here, a trader interaction model based upon informational cascades in the presence of information thresholds is used to construct a new model of asset price returns that allows for both quiescent and herd-like regimes. Agent interaction is modelled using a stochastic pulse-coupled network, parametrised by information thresholds and a network coupling probability. Agents may possess either one or two information thresholds that, in each case, determine the number of distinct states an agent may occupy before trading takes place. In the case where agents possess two thresholds (labelled as the finite state-space model, corresponding to agents' accumulating information over a bounded state-space), and where coupling strength is maximal, an asymptotic expression for the cascade-size probability is derived and shown to follow a power law when a critical value of network coupling probability is attained. For a range of model parameters, a mixture of negative binomial distributions is used to approximate the cascade-size distribution. This approximation is subsequently used to express the volatility of model price returns in terms of the model parameter which controls the network coupling probability. In the case where agents possess a single pulse-coupling threshold (labelled as the semi-infinite state-space model corresponding to agents' accumulating information over an unbounded state-space), numerical evidence is presented that demonstrates volatility clustering and long-memory patterns in the volatility of asset returns. Finally, output from the model is compared to both the distribution of historical stock returns and the market

  20. A Financial Market Model Incorporating Herd Behaviour.

    Directory of Open Access Journals (Sweden)

    Christopher M Wray

    Full Text Available Herd behaviour in financial markets is a recurring phenomenon that exacerbates asset price volatility, and is considered a possible contributor to market fragility. While numerous studies investigate herd behaviour in financial markets, it is often considered without reference to the pricing of financial instruments or other market dynamics. Here, a trader interaction model based upon informational cascades in the presence of information thresholds is used to construct a new model of asset price returns that allows for both quiescent and herd-like regimes. Agent interaction is modelled using a stochastic pulse-coupled network, parametrised by information thresholds and a network coupling probability. Agents may possess either one or two information thresholds that, in each case, determine the number of distinct states an agent may occupy before trading takes place. In the case where agents possess two thresholds (labelled as the finite state-space model, corresponding to agents' accumulating information over a bounded state-space, and where coupling strength is maximal, an asymptotic expression for the cascade-size probability is derived and shown to follow a power law when a critical value of network coupling probability is attained. For a range of model parameters, a mixture of negative binomial distributions is used to approximate the cascade-size distribution. This approximation is subsequently used to express the volatility of model price returns in terms of the model parameter which controls the network coupling probability. In the case where agents possess a single pulse-coupling threshold (labelled as the semi-infinite state-space model corresponding to agents' accumulating information over an unbounded state-space, numerical evidence is presented that demonstrates volatility clustering and long-memory patterns in the volatility of asset returns. Finally, output from the model is compared to both the distribution of historical stock

  1. A Financial Market Model Incorporating Herd Behaviour

    Science.gov (United States)

    2016-01-01

    Herd behaviour in financial markets is a recurring phenomenon that exacerbates asset price volatility, and is considered a possible contributor to market fragility. While numerous studies investigate herd behaviour in financial markets, it is often considered without reference to the pricing of financial instruments or other market dynamics. Here, a trader interaction model based upon informational cascades in the presence of information thresholds is used to construct a new model of asset price returns that allows for both quiescent and herd-like regimes. Agent interaction is modelled using a stochastic pulse-coupled network, parametrised by information thresholds and a network coupling probability. Agents may possess either one or two information thresholds that, in each case, determine the number of distinct states an agent may occupy before trading takes place. In the case where agents possess two thresholds (labelled as the finite state-space model, corresponding to agents’ accumulating information over a bounded state-space), and where coupling strength is maximal, an asymptotic expression for the cascade-size probability is derived and shown to follow a power law when a critical value of network coupling probability is attained. For a range of model parameters, a mixture of negative binomial distributions is used to approximate the cascade-size distribution. This approximation is subsequently used to express the volatility of model price returns in terms of the model parameter which controls the network coupling probability. In the case where agents possess a single pulse-coupling threshold (labelled as the semi-infinite state-space model corresponding to agents’ accumulating information over an unbounded state-space), numerical evidence is presented that demonstrates volatility clustering and long-memory patterns in the volatility of asset returns. Finally, output from the model is compared to both the distribution of historical stock returns and the

  2. The energy market model. What is the space for smart grid service concepts; Het energiemarktmodel. Wat is de ruimte voor smart grid dienstverleningsconcepten?

    Energy Technology Data Exchange (ETDEWEB)

    Kieft, A.; Niesten, E.; Alkemade, F. [Universiteit Utrecht, Utrecht (Netherlands); Maandag, M. [DNV Kema, Arnhem (Netherlands); Van Melle, T.; Haaksma, V. [Ecofys, Utrecht (Netherlands); Van Beek, K. [Stedin, Rotterdam (Netherlands)

    2013-02-15

    The report provides starters in the Dutch energy market an overview of how the current model, focusing on centralized power generation, works. The report also shows how the energy market model should work to promote decentralized renewable electricity production and new smart grid services. It also discusses in detail questions about the energy market model various actors might have [Dutch] Het rapport geeft starters op de Nederlandse energiemarkt een overzicht hoe het huidige model, gericht op centrale elektriciteitsproductie, in elkaar steekt. Ook laat het rapport zien hoe het energiemarktmodel zou moeten werken om decentrale duurzame elektriciteitsproductie en nieuwe smart grid diensten te bevorderen. Daarbij wordt uitgebreid ingegaan op vragen over het energiemarktmodel die leven bij verschillende actoren.

  3. 'Flying markets': activating public spaces in Amsterdam

    NARCIS (Netherlands)

    Janssens, F.; Sezer, C.

    2013-01-01

    Marketplaces can be used by city planners as urban development strategies because they have the potential to turn open spaces in the city into public space, thereby improving both the social and the spatial qualities of those spaces. In Amsterdam, however, marketplaces currently fail to activate

  4. Wilmar joint market model, Documentation

    International Nuclear Information System (INIS)

    Meibom, P.; Larsen, Helge V.; Barth, R.; Brand, H.; Weber, C.; Voll, O.

    2006-01-01

    The Wilmar Planning Tool is developed in the project Wind Power Integration in Liberalised Electricity Markets (WILMAR) supported by EU (Contract No. ENK5-CT-2002-00663). A User Shell implemented in an Excel workbook controls the Wilmar Planning Tool. All data are contained in Access databases that communicate with various sub-models through text files that are exported from or imported to the databases. The Joint Market Model (JMM) constitutes one of these sub-models. This report documents the Joint Market model (JMM). The documentation describes: 1. The file structure of the JMM. 2. The sets, parameters and variables in the JMM. 3. The equations in the JMM. 4. The looping structure in the JMM. (au)

  5. Wilmar joint market model, Documentation

    Energy Technology Data Exchange (ETDEWEB)

    Meibom, P.; Larsen, Helge V. [Risoe National Lab. (Denmark); Barth, R.; Brand, H. [IER, Univ. of Stuttgart (Germany); Weber, C.; Voll, O. [Univ. of Duisburg-Essen (Germany)

    2006-01-15

    The Wilmar Planning Tool is developed in the project Wind Power Integration in Liberalised Electricity Markets (WILMAR) supported by EU (Contract No. ENK5-CT-2002-00663). A User Shell implemented in an Excel workbook controls the Wilmar Planning Tool. All data are contained in Access databases that communicate with various sub-models through text files that are exported from or imported to the databases. The Joint Market Model (JMM) constitutes one of these sub-models. This report documents the Joint Market model (JMM). The documentation describes: 1. The file structure of the JMM. 2. The sets, parameters and variables in the JMM. 3. The equations in the JMM. 4. The looping structure in the JMM. (au)

  6. Noncooperative models of permit markets

    Energy Technology Data Exchange (ETDEWEB)

    Godal, Odd

    2011-07-15

    The applicability of some popular and basic permit market theories has been questioned. Drawing on noncooperative equilibrium theory for pure exchange economies, this article adapts several well-established alternative models to permit exchange. Some qualitative properties of the associated equilibria are provided, including two games with equilibria that in a sense coincide. Nevertheless, as there exist quite a few models potentially applicable to emissions trading, with equilibria that range from autarky to Pareto optimality, it seems that economics lacks a broadly accepted basic theory for permit markets. (Author)

  7. Sensitivity of Earth Wheat Markets to Space Weather: Comparative Analysis based on data from Medieval European Markets

    Science.gov (United States)

    Pustil'Nik, Lev

    Central Europe (England, Holland, Belgium) show high sensitivity to space weather in minimum states of solar activity, when excess of the high energy cosmic ray stimulate additional cloudiness and precipitation. In the same time, wheat markets in the Southern Europe (Spain, Italy) show high sensitivity to space weather state in the opposite (maximum) phase of solar activity when a deficit of cosmic ray entering into the earth atmosphere leads to decrease of cloudiness and to increase of probability of drought weather periods. We demonstrate that the large part of markets in the Central Europe zone show absence of any effects of sensitivity to space weather state and show that this North-South asymmetry is in good accordance with the suggested model of expected wheat market reaction. We discuss possible increasing of sensitivity of wheat markets to space weather effects under conditions of fast and drastic change of modern climate with a shift of numerous agriculture regions to the state of "high risk agriculture zone".

  8. Project-matrix models of marketing organization

    Directory of Open Access Journals (Sweden)

    Gutić Dragutin

    2009-01-01

    Full Text Available Unlike theory and practice of corporation organization, in marketing organization numerous forms and contents at its disposal are not reached until this day. It can be well estimated that marketing organization today in most of our companies and in almost all its parts, noticeably gets behind corporation organization. Marketing managers have always been occupied by basic, narrow marketing activities as: sales growth, market analysis, market growth and market share, marketing research, introduction of new products, modification of products, promotion, distribution etc. They rarely found it necessary to focus a bit more to different aspects of marketing management, for example: marketing planning and marketing control, marketing organization and leading. This paper deals with aspects of project - matrix marketing organization management. Two-dimensional and more-dimensional models are presented. Among two-dimensional, these models are analyzed: Market management/products management model; Products management/management of product lifecycle phases on market model; Customers management/marketing functions management model; Demand management/marketing functions management model; Market positions management/marketing functions management model. .

  9. Quantum Bohmian model for financial market

    Science.gov (United States)

    Choustova, Olga Al.

    2007-01-01

    We apply methods of quantum mechanics for mathematical modeling of price dynamics at the financial market. The Hamiltonian formalism on the price/price-change phase space describes the classical-like evolution of prices. This classical dynamics of prices is determined by “hard” conditions (natural resources, industrial production, services and so on). These conditions are mathematically described by the classical financial potential V(q), where q=(q1,…,qn) is the vector of prices of various shares. But the information exchange and market psychology play important (and sometimes determining) role in price dynamics. We propose to describe such behavioral financial factors by using the pilot wave (Bohmian) model of quantum mechanics. The theory of financial behavioral waves takes into account the market psychology. The real trajectories of prices are determined (through the financial analogue of the second Newton law) by two financial potentials: classical-like V(q) (“hard” market conditions) and quantum-like U(q) (behavioral market conditions).

  10. Marketing data, models and decisions

    NARCIS (Netherlands)

    Wedel, M; Kamakura, W; Bockenholt, U

    Our comments about the paper by Leeflang and Wittink [Internat. J. Res. Marketing, 17 (2000) 105] comprise of two components: first, we address two issues on which we disagree with Leeflang and Wittink: soft versus hard data, and individual-level versus segment-level models. Secondly, we supplement

  11. Modelling gas markets - a survey

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-12-31

    This report reviews research of relevance to the analysis of present and future developments of the European natural gas market. The research activities considered are confined to (1) numerical models for gas markets, (2) analyses of energy demand, and (3) analyses of behaviour and cost structures in the transmission and distribution sector. Most of the market models are strictly micro economic and assume perfect competition or a game-theoretical equilibrium. They use sophisticated solution concepts, but very simplified specifications of supply and demand functions. Most of the research on demand is econometric analyses. These have more detailed model specification than have the aggregated market models. It is found, however, that the econometric literature based on neo-classical economics has not yielded unambiguous results and the specifications disregard important real world aspects of gas demand. The section on demand concludes that the extent of the gas grid is an important determinant for gas demand, but there has been virtually no research on what determines this variable. Data about transmission and distribution of gas in Europe is scarce and only a few non-econometric and virtually no econometric analyses are available. However, some conclusions can be made from relevant North American literature: (1) there has been significant autonomous technical progress in the transmission industry, (2) distribution costs strongly depend on geographical and other conditions, and (3) ownership, whether private or public, may be important for distribution costs and pricing policies. 56 refs., 3 figs., 1 tab.

  12. Modelling gas markets - a survey

    International Nuclear Information System (INIS)

    1997-01-01

    This report reviews research of relevance to the analysis of present and future developments of the European natural gas market. The research activities considered are confined to (1) numerical models for gas markets, (2) analyses of energy demand, and (3) analyses of behaviour and cost structures in the transmission and distribution sector. Most of the market models are strictly micro economic and assume perfect competition or a game-theoretical equilibrium. They use sophisticated solution concepts, but very simplified specifications of supply and demand functions. Most of the research on demand is econometric analyses. These have more detailed model specification than have the aggregated market models. It is found, however, that the econometric literature based on neo-classical economics has not yielded unambiguous results and the specifications disregard important real world aspects of gas demand. The section on demand concludes that the extent of the gas grid is an important determinant for gas demand, but there has been virtually no research on what determines this variable. Data about transmission and distribution of gas in Europe is scarce and only a few non-econometric and virtually no econometric analyses are available. However, some conclusions can be made from relevant North American literature: (1) there has been significant autonomous technical progress in the transmission industry, (2) distribution costs strongly depend on geographical and other conditions, and (3) ownership, whether private or public, may be important for distribution costs and pricing policies. 56 refs., 3 figs., 1 tab

  13. Space-time modeling of timber prices

    Science.gov (United States)

    Mo Zhou; Joseph Buongriorno

    2006-01-01

    A space-time econometric model was developed for pine sawtimber timber prices of 21 geographically contiguous regions in the southern United States. The correlations between prices in neighboring regions helped predict future prices. The impulse response analysis showed that although southern pine sawtimber markets were not globally integrated, local supply and demand...

  14. Towards an E-market Model

    DEFF Research Database (Denmark)

    Ivang, Reimer; Hinson, Robert; Somasundaram, Ramanathan

    2006-01-01

    on the literature survey and ídentification of gaps in the present e-market definitive models, the authors postulate a preliminary e-market reference model. Originality/ Value: Through synthesizing the e-market literature, and by taking into account contemporary e-market developments, key dimensions that define......Purpose: Seeks to argue that there are problems associated with e-market definitive efforts and consequently seeks proposes a new e-market model. Design/methodology/Approach: Paper based largely on literature survey and an assessment of the existing e-market conceptualizations. Findings: Based...

  15. Models of the oil market

    International Nuclear Information System (INIS)

    Cremer, J.; Salehi-Isfahani, D.

    1991-01-01

    Economists have proposed a large variety of models of the oil market which differ in their methodology and in the questions they answer. This book integrates them and emphasizes the relationships between the choice of economic tools and the practical consequences of the analysis. After history of the events of the last twenty years, the authors survey the informal descriptions written by policy oriented analysts. Chapters on quantitative models follow, one stressing simulations and the other the work of theorists. Finally, a discussion of econometric work precedes a survey of open questions

  16. Electricity Market Manipulation: How Behavioral Modeling Can Help Market Design

    Energy Technology Data Exchange (ETDEWEB)

    Gallo, Giulia [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2015-12-18

    The question of how to best design electricity markets to integrate variable and uncertain renewable energy resources is becoming increasingly important as more renewable energy is added to electric power systems. Current markets were designed based on a set of assumptions that are not always valid in scenarios of high penetrations of renewables. In a future where renewables might have a larger impact on market mechanisms as well as financial outcomes, there is a need for modeling tools and power system modeling software that can provide policy makers and industry actors with more realistic representations of wholesale markets. One option includes using agent-based modeling frameworks. This paper discusses how key elements of current and future wholesale power markets can be modeled using an agent-based approach and how this approach may become a useful paradigm that researchers can employ when studying and planning for power systems of the future.

  17. Rethinking exchange market models as optimization algorithms

    Science.gov (United States)

    Luquini, Evandro; Omar, Nizam

    2018-02-01

    The exchange market model has mainly been used to study the inequality problem. Although the human society inequality problem is very important, the exchange market models dynamics until stationary state and its capability of ranking individuals is interesting in itself. This study considers the hypothesis that the exchange market model could be understood as an optimization procedure. We present herein the implications for algorithmic optimization and also the possibility of a new family of exchange market models

  18. Brand Marketing Model on Social Networks

    OpenAIRE

    Jolita Jezukevičiūtė; Vida Davidavičienė

    2014-01-01

    The paper analyzes the brand and its marketing solutions onsocial networks. This analysis led to the creation of improvedbrand marketing model on social networks, which will contributeto the rapid and cheap organization brand recognition, increasecompetitive advantage and enhance consumer loyalty. Therefore,the brand and a variety of social networks are becoming a hotresearch area for brand marketing model on social networks.The world‘s most successful brand marketing models exploratoryanalys...

  19. Brand marketing model on social networks

    OpenAIRE

    Jezukevičiūtė, Jolita; Davidavičienė, Vida

    2014-01-01

    Paper analyzes the brand and its marketing solutions on social networks. This analysis led to the creation of improved brand marketing model on social networks, which will contribute to the rapid and cheap organization brand recognition, increase competitive advantage and enhance consumer loyalty. Therefore, the brand and a variety of social networks are becoming a hot research area for brand marketing model on social networks. The world‘s most successful brand marketing models exploratory an...

  20. Solvable stochastic dealer models for financial markets

    Science.gov (United States)

    Yamada, Kenta; Takayasu, Hideki; Ito, Takatoshi; Takayasu, Misako

    2009-05-01

    We introduce solvable stochastic dealer models, which can reproduce basic empirical laws of financial markets such as the power law of price change. Starting from the simplest model that is almost equivalent to a Poisson random noise generator, the model becomes fairly realistic by adding only two effects: the self-modulation of transaction intervals and a forecasting tendency, which uses a moving average of the latest market price changes. Based on the present microscopic model of markets, we find a quantitative relation with market potential forces, which have recently been discovered in the study of market price modeling based on random walks.

  1. Space Weather Influence on the Earth wheat markets: past, present, and future.

    Science.gov (United States)

    Pustil'Nik, Lev

    solar wind, high cosmic ray flux and North Atlantic cloudiness, caused by CR excess, with negative sequences for wheat agriculture in this humid zone. In the same time wheat markets in the South Europe (Spain, Italy) show reliable sensitivity to space weather state in the opposite (maximum) phase of solar activity with strong solar wind, low cosmic ray flux and deficit of CR input in cloudiness in North Atlantic with next deficit of precipitations in the arid zones of the South Europe. In the same time the large part of markets in the Central Europe zone, functioned far from "high risk agriculture state" show the absence of any effects-responses on space weather. This asymmetry is in accordance with model expectation in the frame of proposed approach. For extremely case of the Iceland agriculture we show that drop of agriculture production in unfavorable states of space weather leads to mass mortality from famines correlated with phase of solar activity with high confi- dence level. We discuss possible increasing of sensitivity of wheat markets to space weather effects in condition of drastic and fast change of modern climate, caused by global warming of the Earth atmosphere with fast and unexpected shift of numerous agriculture regions in the world to state of "high risk agriculture zone". Publications on the theme of review: I. "INFLUENCE OF SOLAR ACTIVITY ON THE STATE OF THE WHEAT MARKET IN MEDIEVAL ENGLAND", Solar Physics 223: 335-356, 2004. c 2004 Kluwer Academic Publishers II. "SPACE CLIMATE MANIFESTATION IN EARTH PRICES - FROM MEDIEVAL ENGLAND UP TO MODERN U.S.A.", LEV PUSTIL'NIK and GREGORY YOM DIN, Solar Physics, 224: 473-481 c Springer 2005

  2. The BERR gas market model

    International Nuclear Information System (INIS)

    2007-10-01

    Security of supply is one of the key objectives in the UK's department of Business Enterprise and Regulatory Reform (BERR) gas market model. BERR found that a useful way to measure energy security was to estimate future 'expected energy unserved'. This comprises a combination of possible levels of shortfall between supply and demand and other probabilities to give a probability-weighted amount of unserved demand. BERR has also studied the conditions (inputs) that are likely to result in lower expected energy unserved, i.e. it has identified the drivers of security of supply and has developed a framework for categorising these drivers

  3. Model of Nordic energy market

    International Nuclear Information System (INIS)

    Gjelsvik, E.; Johnsen, T.; Mysen, H.T.

    1992-01-01

    Simulation results are given of the consumption of electricity and oil in Denmark, Norway and Sweden based on the demand section of a Nordic energy market model which is in the process of being developed in Oslo under the auspices of the Nordic Council of Ministers. The model incorporates supply, and trade between countries so that it can be analyzed how trading can contribute to goals within energy and environmental policies and to cost effective activities aimed at reducing pollution. The article deals in some detail with the subject of how taxation on carbon dioxide emission can influence pollution abatement and with energy consumption development within individual sectors in individual Northern countries. The model of energy demand is described with emphasis on the individual sectors of industry, transport, service and private households. Simulation results giving the effects of energy consumption and increased taxation on fossil fuels are given. On this background the consequences of the adaption of power plants is discussed and a sketch is given of a Nordic electric power market incorporating trading. (AB) (15 refs.)

  4. Developing Viable Financing Models for Space Tourism

    Science.gov (United States)

    Eilingsfeld, F.; Schaetzler, D.

    2002-01-01

    Increasing commercialization of space services and the impending release of government's control of space access promise to make space ventures more attractive. Still, many investors shy away from going into the space tourism market as long as they do not feel secure that their return expectations will be met. First and foremost, attracting investors from the capital markets requires qualifying financing models. Based on earlier research on the cost of capital for space tourism, this paper gives a brief run-through of commercial, technical and financial due diligence aspects. After that, a closer look is taken at different valuation techniques as well as alternative ways of streamlining financials. Experience from earlier ventures has shown that the high cost of capital represents a significant challenge. Thus, the sophistication and professionalism of business plans and financial models needs to be very high. Special emphasis is given to the optimization of the debt-to-equity ratio over time. The different roles of equity and debt over a venture's life cycle are explained. Based on the latter, guidelines for the design of an optimized loan structure are given. These are then applied to simulating the financial performance of a typical space tourism venture over time, including the calculation of Weighted Average Cost of Capital (WACC) and Net Present Value (NPV). Based on a concluding sensitivity analysis, the lessons learned are presented. If applied properly, these will help to make space tourism economically viable.

  5. Viral marketing as epidemiological model

    OpenAIRE

    Rodrigues, Helena Sofia; Fonseca, Manuel

    2015-01-01

    In epidemiology, an epidemic is defined as the spread of an infectious disease to a large number of people in a given population within a short period of time. In the marketing context, a message is viral when it is broadly sent and received by the target market through person-to-person transmission. This specific marketing communication strategy is commonly referred as viral marketing. Due to this similarity between an epidemic and the viral marketing process and because the understanding of...

  6. Advertising effects in Sznajd marketing model

    OpenAIRE

    Christian Schulze

    2002-01-01

    The traditional Sznajd model, as well as its Ochrombel simplification for opinion spreading, are applied to marketing with the help of advertising. The larger the lattice is the smaller is the amount of advertising needed to convince the whole market

  7. Advertising in the Sznajd Marketing Model

    Science.gov (United States)

    Schulze, Christian

    The traditional Sznajd model, as well as its Ochrombel simplification for opinion spreading, is applied to marketing with the help of advertising. The larger the lattice, the smaller the amount of advertising is needed to convince the whole market.

  8. Brand Marketing Model on Social Networks

    Directory of Open Access Journals (Sweden)

    Jolita Jezukevičiūtė

    2014-04-01

    Full Text Available The paper analyzes the brand and its marketing solutions onsocial networks. This analysis led to the creation of improvedbrand marketing model on social networks, which will contributeto the rapid and cheap organization brand recognition, increasecompetitive advantage and enhance consumer loyalty. Therefore,the brand and a variety of social networks are becoming a hotresearch area for brand marketing model on social networks.The world‘s most successful brand marketing models exploratoryanalysis of a single case study revealed a brand marketingsocial networking tools that affect consumers the most. Basedon information analysis and methodological studies, develop abrand marketing model on social networks.

  9. Space Weather Influence on the Earth Climate: Possible Manifestations in Wheat Markets Reaction

    Science.gov (United States)

    Pustilnik, Lev; Yom Din, Gregory; Zagnetko, Alexander

    solar wind, high cosmic ray flux and North Atlantic cloudiness, caused by CR excess, with negative sequences for wheat agriculture in this humid zone. In the same time wheat markets in the South Europe (Spain, Italy) show reliable sensitivity to space weather state in the opposite (maximum) phase of solar activity with strong solar wind, low cosmic ray flux and deficit of CR input in cloudiness in North Atlantic with next deficit of precipitations in the arid zones of the South Europe. In the same time the large part of markets in the Central Europe zone, functioned far from "high risk agriculture state" show the absence of any effects-responses on space weather. This asymmetry is in accordance with model expectation in the frame of proposed approach. We discuss possible increasing of sensitivity of wheat markets to space weather effects in condition of drastic and fast change of modern climate, caused by global warming of the Earth atmosphere with fast and unexpected shift of numerous agriculture regions in the world to state of "high risk agriculture zone".

  10. Persistence Modeling for Assessing Marketing Strategy Performance

    NARCIS (Netherlands)

    M.G. Dekimpe (Marnik); D.M. Hanssens (Dominique)

    2003-01-01

    textabstractThe question of long-run market response lies at the heart of any marketing strategy that tries to create a sustainable competitive advantage for the firm or brand. A key challenge, however, is that only short-run results of marketing actions are readily observable. Persistence modeling

  11. Marketing research model of competitive environment

    Directory of Open Access Journals (Sweden)

    Krasilya Dmitriy

    2015-11-01

    Full Text Available To support its competitive advantages in current market conditions, each company needs to choose better ways of guaranteeing its favorable competitive position. In this regard, considerable interest lies in the structuring and algorithmization of marketing research processes that provide the information background of such choice. The article is devoted to modeling the process of marketing research of competitive environment.

  12. Intoxigenic digital spaces? Youth, social networking sites and alcohol marketing.

    Science.gov (United States)

    Griffiths, Richard; Casswell, Sally

    2010-09-01

    To examine how young people in New Zealand engage with alcohol and reproduce alcohol marketing messages and alcohol-related branding in 'Bebo', a popular social networking site (SNS) on the Internet. Data are drawn from information posted on approximately 150 Bebo Web pages and analysed by way of textual analysis and cyberspace ethnography. Social networking sites, such as Bebo, provide young people with a digital space in which to share a range of alcohol marketing messages via peer-to-peer transmission. Bebo also enables youth to communicate to one another how they consume alcohol and their views of alcohol marketing messages. The information being shared by young people who use Bebo is openly provided in the form of personal information, forum comments, digital photographs and answering quizzes about their engagement with alcohol. Through this sharing of information in the digital Internet environment, young people are creating 'intoxigenic social identities' as well as 'intoxigenic digital spaces' that further contribute towards the normalisation of youth consumption of alcohol. A better understanding of how youth are using the Internet to share their experiences with alcohol and engagement with alcohol-related messages is crucial to public health research as alcohol marketing practices rapidly evolve.

  13. Motor Gasoline Market Model documentation report

    International Nuclear Information System (INIS)

    1993-09-01

    The purpose of this report is to define the objectives of the Motor Gasoline Market Model (MGMM), describe its basic approach and to provide detail on model functions. This report is intended as a reference document for model analysts, users, and the general public. The MGMM performs a short-term (6- to 9-month) forecast of demand and price for motor gasoline in the US market; it also calculates end of month stock levels. The model is used to analyze certain market behavior assumptions or shocks and to determine the effect on market price, demand and stock level

  14. Cost Modeling for Space Telescope

    Science.gov (United States)

    Stahl, H. Philip

    2011-01-01

    Parametric cost models are an important tool for planning missions, compare concepts and justify technology investments. This paper presents on-going efforts to develop single variable and multi-variable cost models for space telescope optical telescope assembly (OTA). These models are based on data collected from historical space telescope missions. Standard statistical methods are used to derive CERs for OTA cost versus aperture diameter and mass. The results are compared with previously published models.

  15. State Space Modeling Using SAS

    Directory of Open Access Journals (Sweden)

    Rajesh Selukar

    2011-05-01

    Full Text Available This article provides a brief introduction to the state space modeling capabilities in SAS, a well-known statistical software system. SAS provides state space modeling in a few different settings. SAS/ETS, the econometric and time series analysis module of the SAS system, contains many procedures that use state space models to analyze univariate and multivariate time series data. In addition, SAS/IML, an interactive matrix language in the SAS system, provides Kalman filtering and smoothing routines for stationary and nonstationary state space models. SAS/IML also provides support for linear algebra and nonlinear function optimization, which makes it a convenient environment for general-purpose state space modeling.

  16. The utility target market model

    International Nuclear Information System (INIS)

    Leng, G.J.; Martin, J.

    1994-01-01

    A new model (the Utility Target Market Model) is used to evaluate the economic benefits of photovoltaic (PV) power systems located at the electrical utility customer site. These distributed PV demand-side generation systems can be evaluated in a similar manner to other demand-side management technologies. The energy and capacity values of an actual PV system located in the service area of the New England Electrical System (NEES) are the two utility benefits evaluated. The annual stream of energy and capacity benefits calculated for the utility are converted to the installed cost per watt that the utility should be willing to invest to receive this benefit stream. Different discount rates are used to show the sensitivity of the allowable installed cost of the PV systems to a utility's average cost of capital. Capturing both the energy and capacity benefits of these relatively environmentally friendly distributed generators, NEES should be willing to invest in this technology when the installed cost per watt declines to ca $2.40 using NEES' rated cost of capital (8.78%). If a social discount rate of 3% is used, installation should be considered when installed cost approaches $4.70/W. Since recent installations in the Sacramento Municipal Utility District have cost between $7-8/W, cost-effective utility applications of PV are close. 22 refs., 1 fig., 2 tabs

  17. The Ascent Study - Understanding the Market Environment for the Follow-on to the Space Shuttle

    Science.gov (United States)

    Webber, Derek

    2002-01-01

    The ASCENT Study - Understanding the Market Environment for the Follow-on to NASA's Marshall Space Flight Center in Huntsville, Alabama, awarded a contract (base plus option amounting to twenty months of analysis) to Futron Corporation in June 2001 to investigate the market environment, and explore the price elasticity attributes, relevant for the introduction of the Second Generation Reusable Launch Vehicle (the follow-on to the Space Shuttle) in the second decade of this century. This work is known as the ASCENT Study (Analysis of Space Concepts Enabled by New Transportation) and data collection covering a total of 42 different sectors took place during 2001. Modeling and forecasting activities for 26 of these markets (all of them international in nature) have been taking place throughout 2002, and the final results of the ASCENT Study, which include 20 year forecasts, are due by the end of January, 2003. This paper describes the markets being analyzed for the ASCENT Study, and includes some preliminary findings in terms of launch vehicle demand during the next 20 years, broken down by mass class and mission type. Amongst these markets are the potential public space travel opportunities. When completed, the final report of the ASCENT Study is expected to represent a significant reference document for all business development, financing and planning activities in the space industry for some time to come. One immediate use will be as a key factor in determining the cargo capability and launch rates to be used for designing the follow-on to the Space Shuttle. The Study will also provide NASA with a quantified indication of the extent to which the lower cost to orbit, made possible by a new class of launch vehicle, will bring into being new markets.

  18. New Brunswick Market Design Committee : market design issues paper : choice of market model

    International Nuclear Information System (INIS)

    2001-01-01

    A model for the competitive electricity market in New Brunswick was not specified by the White Paper: New Brunswick Energy Policy, published in March 2001. One of the tasks of the Market Design Committee (MDC) is to select a market model for the province. This report was prepared with this objective in mind. It begins by providing a description of the basic functions that must be performed by any electricity system. Different market models will function differently, and a descriptions of how the functions would be performed under each model is presented. Considering the specific size and geographic location of New Brunswick, a number of actual markets that could be of interest are presented. The various electricity markets normally use one of four market models: vertically integrated monopoly utility, a competitive pool market, a bilateral contract market, and a single-buyer market. The first model was not explained as it represents the existing, non-competitive model whereby the government owns and/or regulates price and investment decision. The case where a market operator receives bids and offers from buyers and sellers and matches them to derive a price and schedule for the spot market is what is called the competitive pool market. When electricity trade takes place through a series of contracts between individual buyers and sellers, it is referred to as a bilateral contract market. Finally, the single-buyer market is defined as a monopoly where the buyer purchases from multiple sellers based on competition amongst them. Different examples are provided of applications of the three markets described in the paper. Both New England and New Zealand were chosen to better illustrate the concepts of a fully competitive pool-based market, as they either have close ties to New Brunswick, or share physical similarities. The single-buyer model is illustrated by the case of Northern Ireland where size is similar. The choices made in Quebec were described in the final

  19. Structural model for fluctuations in financial markets

    Science.gov (United States)

    Anand, Kartik; Khedair, Jonathan; Kühn, Reimer

    2018-05-01

    In this paper we provide a comprehensive analysis of a structural model for the dynamics of prices of assets traded in a market which takes the form of an interacting generalization of the geometric Brownian motion model. It is formally equivalent to a model describing the stochastic dynamics of a system of analog neurons, which is expected to exhibit glassy properties and thus many metastable states in a large portion of its parameter space. We perform a generating functional analysis, introducing a slow driving of the dynamics to mimic the effect of slowly varying macroeconomic conditions. Distributions of asset returns over various time separations are evaluated analytically and are found to be fat-tailed in a manner broadly in line with empirical observations. Our model also allows us to identify collective, interaction-mediated properties of pricing distributions and it predicts pricing distributions which are significantly broader than their noninteracting counterparts, if interactions between prices in the model contain a ferromagnetic bias. Using simulations, we are able to substantiate one of the main hypotheses underlying the original modeling, viz., that the phenomenon of volatility clustering can be rationalized in terms of an interplay between the dynamics within metastable states and the dynamics of occasional transitions between them.

  20. Modelling of demand response and market power

    International Nuclear Information System (INIS)

    Kristoffersen, B.B.; Donslund, B.; Boerre Eriksen, P.

    2004-01-01

    Demand-side flexibility and demand response to high prices are prerequisites for the proper functioning of the Nordic power market. If the consumers are unwilling to respond to high prices, the market may fail the clearing, and this may result in unwanted forced demand disconnections. Being the TSO of Western Denmark, Eltra is responsible of both security of supply and the design of the power market within its area. On this basis, Eltra has developed a new mathematical model tool for analysing the Nordic wholesale market. The model is named MARS (MARket Simulation). The model is able to handle hydropower and thermal production, nuclear power and wind power. Production, demand and exchanges modelled on an hourly basis are new important features of the model. The model uses the same principles as Nord Pool (The Nordic Power Exchange), including the division of the Nordic countries into price areas. On the demand side, price elasticity is taken into account and described by a Cobb-Douglas function. Apart from simulating perfect competition markets, particular attention has been given to modelling imperfect market conditions, i.e. exercise of market power on the supply side. Market power is simulated by using game theory, including the Nash equilibrium concept. The paper gives a short description of the MARS model. Besides, focus is on the application of the model in order to illustrate the importance of demand response in the Nordic market. Simulations with different values of demand elasticity are compared. Calculations are carried out for perfect competition and for the situation in which market power is exercised by the large power producers in the Nordic countries (oligopoly). (au)

  1. Marketing Education on a Shoestring: A Model.

    Science.gov (United States)

    Shreeve, William; And Others

    Few educators envision themselves as marketing or public relations experts, yet economic reality is forcing many academicians into these roles. Over the past four years, the Eastern Washington University Department of Education has developed a successful marketing model for educators. The model begins with a successful reform of department…

  2. IASM: Individualized activity space modeler

    Science.gov (United States)

    Hasanzadeh, Kamyar

    2018-01-01

    Researchers from various disciplines have long been interested in analyzing and describing human mobility patterns. Activity space (AS), defined as an area encapsulating daily human mobility and activities, has been at the center of this interest. However, given the applied nature of research in this field and the complexity that advanced geographical modeling can pose to its users, the proposed models remain simplistic and inaccurate in many cases. Individualized Activity Space Modeler (IASM) is a geographic information system (GIS) toolbox, written in Python programming language using ESRI's Arcpy module, comprising four tools aiming to facilitate the use of advanced activity space models in empirical research. IASM provides individual-based and context-sensitive tools to estimate home range distances, delineate activity spaces, and model place exposures using individualized geographical data. In this paper, we describe the design and functionality of IASM, and provide an example of how it performs on a spatial dataset collected through an online map-based survey.

  3. Space Tourism in the Context of a Diverse Market

    Science.gov (United States)

    Hempsell, M.

    Most discussion of the potential space tourism business considers it as an isolated activity. In the case of sub-orbital tourism this is probably the case and this means any business has to pay to develop its infrastructure before it can start any revenue earning. This can lead to an investment trap were the upfront investment costs can never be recovered if commercially attractive rates of return are assumed. By contrast orbital tourism would be undertaken in the context of other space activity and these can have a significant impact on its commercial viability, particularly as a means to overcome the investment trap. A strategy is outlined showing that a mixed market approach to passenger transport to orbit can both provide savings for government activity and tourist costs around half a million dollars per person. However to take advantage of this market synergy the orbital personnel transport system must have the requirements of space tourism operations incorporated into the system during its initial development.

  4. Economic model of the US uranium market

    International Nuclear Information System (INIS)

    Owen, A.D.

    1984-01-01

    An economic model of the US uranium market is developed using annual data for the period 1966-81. The model consists of five stochastic equations explaining uranium consumption, forward commitments, mine production, contract prices, and spot prices. A forecasting exercise is also undertaken. By way of essential background information, however, an analysis of current trends in the international uranium market is given, followed by a summary of historical price movements in the US uranium market. A brief discussion on the current state of the US market precedes the statistical analysis. 19 footnotes and references, 3 tables

  5. Modeling the marketing strategy-performance relationship : towards an hierarchical marketing performance framework

    NARCIS (Netherlands)

    Huizingh, Eelko K.R.E.; Zengerink, Evelien

    2001-01-01

    Accurate measurement of marketing performance is an important topic for both marketing academics and marketing managers. Many researchers have recognized that marketing performance measurement should go beyond financial measurement. In this paper we propose a conceptual framework that models

  6. Space debris: modeling and detectability

    Science.gov (United States)

    Wiedemann, C.; Lorenz, J.; Radtke, J.; Kebschull, C.; Horstmann, A.; Stoll, E.

    2017-01-01

    High precision orbit determination is required for the detection and removal of space debris. Knowledge of the distribution of debris objects in orbit is necessary for orbit determination by active or passive sensors. The results can be used to investigate the orbits on which objects of a certain size at a certain frequency can be found. The knowledge of the orbital distribution of the objects as well as their properties in accordance with sensor performance models provide the basis for estimating the expected detection rates. Comprehensive modeling of the space debris environment is required for this. This paper provides an overview of the current state of knowledge about the space debris environment. In particular non-cataloged small objects are evaluated. Furthermore, improvements concerning the update of the current space debris model are addressed. The model of the space debris environment is based on the simulation of historical events, such as fragmentations due to explosions and collisions that actually occurred in Earth orbits. The orbital distribution of debris is simulated by propagating the orbits considering all perturbing forces up to a reference epoch. The modeled object population is compared with measured data and validated. The model provides a statistical distribution of space objects, according to their size and number. This distribution is based on the correct consideration of orbital mechanics. This allows for a realistic description of the space debris environment. Subsequently, a realistic prediction can be provided concerning the question, how many pieces of debris can be expected on certain orbits. To validate the model, a software tool has been developed which allows the simulation of the observation behavior of ground-based or space-based sensors. Thus, it is possible to compare the results of published measurement data with simulated detections. This tool can also be used for the simulation of sensor measurement campaigns. It is

  7. Simplicial models for trace spaces

    DEFF Research Database (Denmark)

    Raussen, Martin

    Directed Algebraic Topology studies topological spaces in which certain directed paths (d-paths) - in general irreversible - are singled out. The main interest concerns the spaces of directed paths between given end points - and how those vary under variation of the end points. The original...... motivation stems from certain models for concurrent computation. So far, spaces of d-paths and their topological invariants have only been determined in cases that were elementary to overlook. In this paper, we develop a systematic approach describing spaces of directed paths - up to homotopy equivalence...

  8. A model of the world uranium market

    International Nuclear Information System (INIS)

    Trieu, L.H.; Savage, E.; Dwyer, G.

    1994-01-01

    In this paper the structure of the world uranium market is analysed and an econometric model developed. The modelling effort is focused on the spot market because developments in the spot market are increasingly being reflected in contract agreements and it is more transparent than the contract market. Changing surplus supplies of uranium on the spot market have led to wide variations in the spot price and this relationship is a focus of the analysis. The results indicate that stocks will reduce to a point where a gradual rise in spot prices can be expected after 1993 but the recovery will be sensitive to new supply entering from non-traditional market sources. (Author)

  9. MODEL OF MARKETING COMMUNICATIONS EFFECTIVENESS IN THE BUSINESS-TO-BUSINESS MARKETS

    OpenAIRE

    Jerman, Damjana; Završnik, Bruno

    2012-01-01

    Much of the research into marketing communications has focused on the consumer market with little regard to date for the business-to-business market. This paper focuses on a development and testing of a model of marketing communication effectiveness in the business-to-business market. Building on past research from the marketing communications and business-to-business marketing literature, the model (which incorporates facets of the marketing communication objectives, bidirectional communicat...

  10. Modeling strategic investment decisions in spatial markets

    International Nuclear Information System (INIS)

    Lorenczik, Stefan; Malischek, Raimund

    2014-01-01

    Markets for natural resources and commodities are often oligopolistic. In these markets, production capacities are key for strategic interaction between the oligopolists. We analyze how different market structures influence oligopolistic capacity investments and thereby affect supply, prices and rents in spatial natural resource markets using mathematical programing models. The models comprise an investment period and a supply period in which players compete in quantities. We compare three models, one perfect competition and two Cournot models, in which the product is either traded through long-term contracts or on spot markets in the supply period. Tractability and practicality of the approach are demonstrated in an application to the international metallurgical coal market. Results may vary substantially between the different models. The metallurgical coal market has recently made progress in moving away from long-term contracts and more towards spot market-based trade. Based on our results, we conclude that this regime switch is likely to raise consumer rents but lower producer rents. The total welfare differs only negligibly.

  11. Modeling strategic investment decisions in spatial markets

    Energy Technology Data Exchange (ETDEWEB)

    Lorenczik, Stefan; Malischek, Raimund [Koeln Univ. (Germany). Energiewirtschaftliches Inst.; Trueby, Johannes [International Energy Agency, 75 - Paris (France)

    2014-04-15

    Markets for natural resources and commodities are often oligopolistic. In these markets, production capacities are key for strategic interaction between the oligopolists. We analyze how different market structures influence oligopolistic capacity investments and thereby affect supply, prices and rents in spatial natural resource markets using mathematical programing models. The models comprise an investment period and a supply period in which players compete in quantities. We compare three models, one perfect competition and two Cournot models, in which the product is either traded through long-term contracts or on spot markets in the supply period. Tractability and practicality of the approach are demonstrated in an application to the international metallurgical coal market. Results may vary substantially between the different models. The metallurgical coal market has recently made progress in moving away from long-term contracts and more towards spot market-based trade. Based on our results, we conclude that this regime switch is likely to raise consumer rents but lower producer rents. The total welfare differs only negligibly.

  12. Regression Models for Market-Shares

    DEFF Research Database (Denmark)

    Birch, Kristina; Olsen, Jørgen Kai; Tjur, Tue

    2005-01-01

    On the background of a data set of weekly sales and prices for three brands of coffee, this paper discusses various regression models and their relation to the multiplicative competitive-interaction model (the MCI model, see Cooper 1988, 1993) for market-shares. Emphasis is put on the interpretat......On the background of a data set of weekly sales and prices for three brands of coffee, this paper discusses various regression models and their relation to the multiplicative competitive-interaction model (the MCI model, see Cooper 1988, 1993) for market-shares. Emphasis is put...... on the interpretation of the parameters in relation to models for the total sales based on discrete choice models.Key words and phrases. MCI model, discrete choice model, market-shares, price elasitcity, regression model....

  13. Modelling electricity forward markets by ambit fields

    DEFF Research Database (Denmark)

    Barndorff-Nielsen, Ole; Fred Espen Benth, Fred Espen; Veraart, Almut

    This paper proposes a new modelling framework for electricity forward markets, which is based on ambit fields. The new model can capture many of the stylised facts observed in energy markets. One of the main differences to the traditional models lies in the fact that we do not model the dynamics......, but the forward price directly, where we focus on models which are stationary in time. We give a detailed account on the probabilistic properties of the new model and we discuss martingale conditions and change of measure within the new model class. Also, we derive a model for the spot price which is obtained...

  14. Three near term commercial markets in space and their potential role in space exploration

    Science.gov (United States)

    Gavert, Raymond B.

    2001-02-01

    Independent market studies related to Low Earth Orbit (LEO) commercialization have identified three near term markets that have return-on-investment potential. These markets are: (1) Entertainment (2) Education (3) Advertising/sponsorship. Commercial activity is presently underway focusing on these areas. A private company is working with the Russians on a commercial module attached to the ISS that will involve entertainment and probably the other two activities as well. A separate corporation has been established to commercialize the Russian Mir Space Station with entertainment and promotional advertising as important revenue sources. A new startup company has signed an agreement with NASA for commercial media activity on the International Space Station (ISS). Profit making education programs are being developed by a private firm to allow students to play the role of an astronaut and work closely with space scientists and astronauts. It is expected that the success of these efforts on the ISS program will extend to exploration missions beyond LEO. The objective of this paper is to extrapolate some of the LEO commercialization experiences to see what might be expected in space exploration missions to Mars, the Moon and beyond. .

  15. Symmetry breaking in a bull and bear financial market model

    International Nuclear Information System (INIS)

    Sushko, Iryna; Tramontana, Fabio; Westerhoff, Frank; Avrutin, Viktor

    2015-01-01

    We investigate bifurcation structures in the parameter space of a one-dimensional piecewise linear map with two discontinuity points. This map describes endogenous bull and bear market dynamics arising from a simple asset-pricing model. An important feature of our model is that some speculators only enter the market if the price is sufficiently distant to its fundamental value. Our analysis starts with the investigation of a particular case in which the map is symmetric with respect to the origin, associated with equal market entry thresholds in the bull and bear market. We then generalize our analysis by exploring how novel bifurcation structures may emerge when the map’s symmetry is broken.

  16. Financial Markets Analysis by Probabilistic Fuzzy Modelling

    NARCIS (Netherlands)

    J.H. van den Berg (Jan); W.-M. van den Bergh (Willem-Max); U. Kaymak (Uzay)

    2003-01-01

    textabstractFor successful trading in financial markets, it is important to develop financial models where one can identify different states of the market for modifying one???s actions. In this paper, we propose to use probabilistic fuzzy systems for this purpose. We concentrate on Takagi???Sugeno

  17. Financial markets analysis by probabilistic fuzzy modelling

    NARCIS (Netherlands)

    Berg, van den J.; Kaymak, U.; Bergh, van den W.M.

    2003-01-01

    For successful trading in financial markets, it is important to develop financial models where one can identify different states of the market for modifying one???s actions. In this paper, we propose to use probabilistic fuzzy systems for this purpose. We concentrate on Takagi???Sugeno (TS)

  18. Marketing Model for Community College.

    Science.gov (United States)

    Chahin, Jaime

    In order to survive projected enrollment decreases and to better serve nontraditional students, community colleges must develop marketing plans that make effective use of five community resources: local school system personnel, business and industry, civic and social service agencies, college personnel, and the local media. In approaching these…

  19. Quantitative models in marketing research

    NARCIS (Netherlands)

    Ph.H.B.F. Franses (Philip Hans); R. Paap (Richard)

    2001-01-01

    textabstractRecent advances in data collection and data storage techniques enable marketing researchers to study the individual characteristics of a large range of transactions and purchases, in particular the effects of household-specific characteristics. This book presents the most important and

  20. Modelling and analysis of global coal markets

    International Nuclear Information System (INIS)

    Trueby, Johannes

    2013-01-01

    The thesis comprises four interrelated essays featuring modelling and analysis of coal markets. Each of the four essays has a dedicated chapter in this thesis. Chapters 2 to 4 have, from a topical perspective, a backward-looking focus and deal with explaining recent market outcomes in the international coal trade. The findings of those essays may serve as guidance for assessing current coal market outcomes as well as expected market outcomes in the near to medium-term future. Chapter 5 has a forward-looking focus and builds a bridge between explaining recent market outcomes and projecting long-term market equilibria. Chapter 2, Strategic Behaviour in International Metallurgical Coal Markets, deals with market conduct of large exporters in the market of coals used in steel-making in the period 2008 to 2010. In this essay I analyse whether prices and trade-flows in the international market for metallurgical coals were subject to non-competitive conduct in the period 2008 to 2010. To do so, I develop mathematical programming models - a Stackelberg model, two varieties of a Cournot model, and a perfect competition model - for computing spatial equilibria in international resource markets. Results are analysed with various statistical measures to assess the prediction accuracy of the models. The results show that real market equilibria cannot be reproduced with a competitive model. However, real market outcomes can be accurately simulated with the non-competitive models, suggesting that market equilibria in the international metallurgical coal trade were subject to the strategic behaviour of coal exporters. Chapter 3 and chapter 4 deal with market power issues in the steam coal trade in the period 2006 to 2008. Steam coals are typically used to produce steam either for electricity generation or for heating purposes. In Chapter 3 we analyse market behaviour of key exporting countries in the steam coal trade. This chapter features the essay Market Structure Scenarios in

  1. Modelling and analysis of global coal markets

    Energy Technology Data Exchange (ETDEWEB)

    Trueby, Johannes

    2013-01-17

    The thesis comprises four interrelated essays featuring modelling and analysis of coal markets. Each of the four essays has a dedicated chapter in this thesis. Chapters 2 to 4 have, from a topical perspective, a backward-looking focus and deal with explaining recent market outcomes in the international coal trade. The findings of those essays may serve as guidance for assessing current coal market outcomes as well as expected market outcomes in the near to medium-term future. Chapter 5 has a forward-looking focus and builds a bridge between explaining recent market outcomes and projecting long-term market equilibria. Chapter 2, Strategic Behaviour in International Metallurgical Coal Markets, deals with market conduct of large exporters in the market of coals used in steel-making in the period 2008 to 2010. In this essay I analyse whether prices and trade-flows in the international market for metallurgical coals were subject to non-competitive conduct in the period 2008 to 2010. To do so, I develop mathematical programming models - a Stackelberg model, two varieties of a Cournot model, and a perfect competition model - for computing spatial equilibria in international resource markets. Results are analysed with various statistical measures to assess the prediction accuracy of the models. The results show that real market equilibria cannot be reproduced with a competitive model. However, real market outcomes can be accurately simulated with the non-competitive models, suggesting that market equilibria in the international metallurgical coal trade were subject to the strategic behaviour of coal exporters. Chapter 3 and chapter 4 deal with market power issues in the steam coal trade in the period 2006 to 2008. Steam coals are typically used to produce steam either for electricity generation or for heating purposes. In Chapter 3 we analyse market behaviour of key exporting countries in the steam coal trade. This chapter features the essay Market Structure Scenarios in

  2. Dynamic Model of Market with Uninformed Market Maker

    Czech Academy of Sciences Publication Activity Database

    Šmíd, Martin; Kopa, Miloš

    2017-01-01

    Roč. 53, č. 5 (2017), s. 922-958 ISSN 0023-5954 R&D Projects: GA ČR(CZ) GBP402/12/G097 Institutional support: RVO:67985556 Keywords : market maker * optimal decision * price and inventory * high frequency data * dynamic model Subject RIV: BB - Applied Statistics, Operational Research OBOR OECD: Statistics and probability Impact factor: 0.379, year: 2016 http://www.library.utia.cas.cz/separaty/2017/E/smid-0483753.pdf

  3. Computational Modeling of Space Physiology

    Science.gov (United States)

    Lewandowski, Beth E.; Griffin, Devon W.

    2016-01-01

    The Digital Astronaut Project (DAP), within NASAs Human Research Program, develops and implements computational modeling for use in the mitigation of human health and performance risks associated with long duration spaceflight. Over the past decade, DAP developed models to provide insights into space flight related changes to the central nervous system, cardiovascular system and the musculoskeletal system. Examples of the models and their applications include biomechanical models applied to advanced exercise device development, bone fracture risk quantification for mission planning, accident investigation, bone health standards development, and occupant protection. The International Space Station (ISS), in its role as a testing ground for long duration spaceflight, has been an important platform for obtaining human spaceflight data. DAP has used preflight, in-flight and post-flight data from short and long duration astronauts for computational model development and validation. Examples include preflight and post-flight bone mineral density data, muscle cross-sectional area, and muscle strength measurements. Results from computational modeling supplement space physiology research by informing experimental design. Using these computational models, DAP personnel can easily identify both important factors associated with a phenomenon and areas where data are lacking. This presentation will provide examples of DAP computational models, the data used in model development and validation, and applications of the model.

  4. K. Sridhar Moorthy's Theoretical Modelling in Marketing - A Review ...

    African Journals Online (AJOL)

    K. Sridhar Moorthy's Theoretical Modelling in Marketing - A Review. ... Modelling has become a visible tool in many disciplines including marketing and several marketing models have ... EMAIL FREE FULL TEXT EMAIL FREE FULL TEXT

  5. The Distributed Geothermal Market Demand Model (dGeo): Documentation

    Energy Technology Data Exchange (ETDEWEB)

    McCabe, Kevin [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Mooney, Meghan E [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Sigrin, Benjamin O [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Gleason, Michael [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Liu, Xiaobing [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States)

    2017-11-06

    The National Renewable Energy Laboratory (NREL) developed the Distributed Geothermal Market Demand Model (dGeo) as a tool to explore the potential role of geothermal distributed energy resources (DERs) in meeting thermal energy demands in the United States. The dGeo model simulates the potential for deployment of geothermal DERs in the residential and commercial sectors of the continental United States for two specific technologies: ground-source heat pumps (GHP) and geothermal direct use (DU) for district heating. To quantify the opportunity space for these technologies, dGeo leverages a highly resolved geospatial database and robust bottom-up, agent-based modeling framework. This design is consistent with others in the family of Distributed Generation Market Demand models (dGen; Sigrin et al. 2016), including the Distributed Solar Market Demand (dSolar) and Distributed Wind Market Demand (dWind) models. dGeo is intended to serve as a long-term scenario-modeling tool. It has the capability to simulate the technical potential, economic potential, market potential, and technology deployment of GHP and DU through the year 2050 under a variety of user-defined input scenarios. Through these capabilities, dGeo can provide substantial analytical value to various stakeholders interested in exploring the effects of various techno-economic, macroeconomic, financial, and policy factors related to the opportunity for GHP and DU in the United States. This report documents the dGeo modeling design, methodology, assumptions, and capabilities.

  6. A conceptual model of political market orientation

    DEFF Research Database (Denmark)

    Ormrod, Robert P.

    2005-01-01

    . The remaining four constructs are attitudinal, designed to capture the awareness of members to the activities and importance of stakeholder groups in society, both internal and external to the organisation. The model not only allows the level of a party's political market orientation to be assessed, but also......This article proposes eight constructs of a conceptual model of political market orientation, taking inspiration from the business and political marketing literature. Four of the constructs are 'behavioural' in that they aim to describe the process of how information flows through the organisation...

  7. Creating a marketing channels strategy for European market entry: a case study for eloSpaces Oy

    OpenAIRE

    Babanina, Daria

    2016-01-01

    This thesis is produced as a case study for eloSpaces, Finnish-Chinese startup company based in Espoo, Finland. eloSpaces develops a unique capsule for people to do the focus work and enjoy privacy. The home market for eloSpaces is China and their current aim is to enter also European market in the nearest future. Therefore, the main objective for thesis was to identify the shortest and most efficient market entry strategy for the full product launch in Europe with highest impact on profits. ...

  8. Emergent organization in a model market

    Science.gov (United States)

    Yadav, Avinash Chand; Manchanda, Kaustubh; Ramaswamy, Ramakrishna

    2017-09-01

    We study the collective behaviour of interacting agents in a simple model of market economics that was originally introduced by Nørrelykke and Bak. A general theoretical framework for interacting traders on an arbitrary network is presented, with the interaction consisting of buying (namely consumption) and selling (namely production) of commodities. Extremal dynamics is introduced by having the agent with least profit in the market readjust prices, causing the market to self-organize. In addition to examining this model market on regular lattices in two-dimensions, we also study the cases of random complex networks both with and without community structures. Fluctuations in an activity signal exhibit properties that are characteristic of avalanches observed in models of self-organized criticality, and these can be described by power-law distributions when the system is in the critical state.

  9. Space charge models and PATH

    International Nuclear Information System (INIS)

    Wald, H.B.

    1990-01-01

    The 'PATH' codes are used to design magnetic optics subsystems for neutral particle beam systems. They include a 2-1/2D and three 3-D space charge models, two of which have recently been added. This paper describes the 3-D models and reports on preliminary benchmark studies in which these models are checked for stability as the cloud size is varied and for consistency with each other. Differences between the models are investigated and the computer time requirements for running these models are established

  10. Adoption Space and the Idea-to-Market Process of Health Technologies.

    Science.gov (United States)

    Saranummi, Niilo; Beuscart, Regis; Black, Norman; Maglaveras, Nicos; Strano, Chiara; Karavidopoulou, Youla

    2016-01-01

    Although Europe 'produces' excellent science, it has not been equally successful in translating scientific results into commercially successful companies in spite of European and national efforts invested in supporting the translation process. The Idea-to-Market process is highly complex due to the large number of actors and stakeholders. ITECH was launched to propose recommendations which would accelerate the Idea-to-Market process of health technologies leading to improvements in the competitiveness of the European health technology industry in the global markets. The project went through the following steps: defining the Idea-to-Market process model; collection and analysis of funding opportunities; identification of 12 gaps and barriers in the Idea-to-Market process; a detailed analysis of these supported by interviews; a prioritization process to select the most important issues; construction of roadmaps for the prioritized issues; and finally generating recommendations and associated action plans. Seven issues were classified as in need of actions. Three of these are part of the ongoing Medical Device Directive Reform (MDR), namely health technology assessment, post-market surveillance and regulatory process, and therefore not within the scope of ITECH. Recommendations were made for eHealth taxonomy; Education and training; Clinical trials and Adoption space and Human Factors Engineering (HFE).

  11. Power system models - A description of power markets and outline of market modelling in Wilmar

    International Nuclear Information System (INIS)

    Meibom, P.; Morthors, P.E.; Nielsen, L.H.; Weber, C.; Snader, K.; Swider, D.; Ravn, H.

    2003-12-01

    This report is Deliverable 3.2 of the Wilmar project. The report describes the power markets in the Nordic countries and Germany, together with the market models to be implemented in the Wilmar Planning model-ling tool developed in the project. (au)

  12. On the Use of Structural Equation Models in Marketing Modeling

    NARCIS (Netherlands)

    Steenkamp, J.E.B.M.; Baumgartner, H.

    2000-01-01

    We reflect on the role of structural equation modeling (SEM) in marketing modeling and managerial decision making. We discuss some benefits provided by SEM and alert marketing modelers to several recent developments in SEM in three areas: measurement analysis, analysis of cross-sectional data, and

  13. Modeling market power in Korea's emerging power market

    International Nuclear Information System (INIS)

    Ahn, Nam-sung; Niemeyer, Victor

    2007-01-01

    The Korean power market is being formed from the unbundled generation, transmission and distribution assets of Korea Electric Power Corporation. The KEPCO generation has been allocated to six independent gencos with a combined generating capacity of 46,629 MW in 2002. This gave an 11% margin over the peak load that year (41,921 MW). One of the concerns for any power market is whether individual participants can increase profits (and prices) by withholding generation from the market. To address this concern, a Cournot-based model of Korean power system was created and applied to a set of loads representing the load duration curve for Korea's system loads in 2002. Our simulation results show a strong possibility for exercise of market power to increase market price in Korean market. Under tight market conditions, even 1 GW of withholding can cause a large increase in market price. If loads unexpectedly grow faster than the 5% recent experience, the gencos will have the collective ability and incentive to spike prices further. Vesting contracts can reduce the incentive to act strategically. Requiring that the gencos offer 50% of their capacity in long-term forward contracts greatly reduces the payoff to act strategically, and requiring vesting for 75% of their capacity results in prices that are essentially the same as the competitive equilibrium. Depending on the price for the vesting contracts, this policy can reduce the incentives to add new generation by gencos or the competitive fringe. Another approach to reducing the effects of market power is establishing demand-response programs, simulated here by increasing the elasticity of overall demand. These programs can reduce the incentives to withhold capacity, but to a lesser degree than vesting contracts. The genco with the greatest ability to influence prices through withholding is the largest, KNHP. However, acting on its own, without the support of the other gencos, its ability to raise prices is limited. This

  14. Simplicial models of trace spaces

    DEFF Research Database (Denmark)

    Raussen, Martin

    2010-01-01

    variation of the end points. The original motivation stems from certain models for concurrent computation. So far, homotopy types of spaces of d-paths and their topological invariants have only been determined in cases that were elementary to overlook. In this paper, we develop a systematic approach...

  15. Electricity market pricing, risk hedging and modeling

    Science.gov (United States)

    Cheng, Xu

    In this dissertation, we investigate the pricing, price risk hedging/arbitrage, and simplified system modeling for a centralized LMP-based electricity market. In an LMP-based market model, the full AC power flow model and the DC power flow model are most widely used to represent the transmission system. We investigate the differences of dispatching results, congestion pattern, and LMPs for the two power flow models. An appropriate LMP decomposition scheme to quantify the marginal costs of the congestion and real power losses is critical for the implementation of financial risk hedging markets. However, the traditional LMP decomposition heavily depends on the slack bus selection. In this dissertation we propose a slack-independent scheme to break LMP down into energy, congestion, and marginal loss components by analyzing the actual marginal cost of each bus at the optimal solution point. The physical and economic meanings of the marginal effect at each bus provide accurate price information for both congestion and losses, and thus the slack-dependency of the traditional scheme is eliminated. With electricity priced at the margin instead of the average value, the market operator typically collects more revenue from power sellers than that paid to power buyers. According to the LMP decomposition results, the revenue surplus is then divided into two parts: congestion charge surplus and marginal loss revenue surplus. We apply the LMP decomposition results to the financial tools, such as financial transmission right (FTR) and loss hedging right (LHR), which have been introduced to hedge against price risks associated to congestion and losses, to construct a full price risk hedging portfolio. The two-settlement market structure and the introduction of financial tools inevitably create market manipulation opportunities. We investigate several possible market manipulation behaviors by virtual bidding and propose a market monitor approach to identify and quantify such

  16. The Traditional Economic Space Management System in Pasar Raya Padang Market, West Sumatera after the Earthquake 2009

    Directory of Open Access Journals (Sweden)

    Zusmelia Zusmelia

    2017-06-01

    Full Text Available The Pasar Raya Padang suffered various dynamics and changes since the West Sumatera earthquake 2009. Many studies hadbeen conducted by academicians and researchers, but no study offering the model of economic space govern at Pasar Raya Padang according to traders’ needs. This paper was conducted by qualitative approach offers the models of traditional economic space govern in the city of Padang. This research had been conducted since 2015 in Pasar Raya Padang. The data were collected through in-depth interviews, focus group discussions (FGD, observation and document study. The result is that the traders as the primary market stakeholders want to have the model of economic space govern integrated over the system, the infrastructures, and market layout. The traders intend to have Pasar Raya Padang that still uses traditional systembut the physical buildings thatare set up as a modern market with complete facilities.

  17. COLUMBUS. A global gas market model

    Energy Technology Data Exchange (ETDEWEB)

    Hecking, Harald; Panke, Timo

    2012-03-15

    A model of the global gas market is presented which in its basic version optimises the future development of production, transport and storage capacities as well as the actual gas flows around the world assuming perfect competition. Besides the transport of natural gas via pipelines also the global market for liquefied natural gas (LNG) is modelled using a hub-and-spoke approach. While in the basic version of the model an inelastic demand and a piecewise-linear supply function are used, both can be changed easily, e.g. to a Golombek style production function or a constant elasticity of substitution (CES) demand function. Due to the usage of mixed complementary programming (MCP) the model additionally allows for the simulation of strategic behaviour of different players in the gas market, e.g. the gas producers.

  18. A Hybrid Setarx Model for Spikes in Tight Electricity Markets

    Directory of Open Access Journals (Sweden)

    Carlo Lucheroni

    2012-01-01

    Full Text Available The paper discusses a simple looking but highly nonlinear regime-switching, self-excited threshold model for hourly electricity prices in continuous and discrete time. The regime structure of the model is linked to organizational features of the market. In continuous time, the model can include spikes without using jumps, by defining stochastic orbits. In passing from continuous time to discrete time, the stochastic orbits survive discretization and can be identified again as spikes. A calibration technique suitable for the discrete version of this model, which does not need deseasonalization or spike filtering, is developed, tested and applied to market data. The discussion of the properties of the model uses phase-space analysis, an approach uncommon in econometrics. (original abstract

  19. THE BERTRAND MODEL OF THE SINGLE MARKET

    Directory of Open Access Journals (Sweden)

    Vadasan Ioana

    2010-12-01

    Full Text Available Starting with the signification of the rationality hypothesis when the agent’s contentment is directly affected by the other agents’ decisions, the theory of games defines solutions for solving different situations of conflict. The economic actors have different behaviours of the Single Market. Oligopoly strategic behaviours were analysed by the Bertrand model. The two types revealed in the work show that strategic interactions are sensitive to the companies’ features, products and markets. Regarding the situation when we have an oligopoly competition, the companies make interdependent decisions in the environment affected by risk and uncertainty of the Single Market. For this reason it is an opportunity to study the structure of oligopoly type of of the Single Market with the aid of non – cooperative games.

  20. An Intelligent Model for Stock Market Prediction

    Directory of Open Access Journals (Sweden)

    IbrahimM. Hamed

    2012-08-01

    Full Text Available This paper presents an intelligent model for stock market signal prediction using Multi-Layer Perceptron (MLP Artificial Neural Networks (ANN. Blind source separation technique, from signal processing, is integrated with the learning phase of the constructed baseline MLP ANN to overcome the problems of prediction accuracy and lack of generalization. Kullback Leibler Divergence (KLD is used, as a learning algorithm, because it converges fast and provides generalization in the learning mechanism. Both accuracy and efficiency of the proposed model were confirmed through the Microsoft stock, from wall-street market, and various data sets, from different sectors of the Egyptian stock market. In addition, sensitivity analysis was conducted on the various parameters of the model to ensure the coverage of the generalization issue. Finally, statistical significance was examined using ANOVA test.

  1. Modelling prices in competitive electricity markets

    International Nuclear Information System (INIS)

    Bunn, D.W.

    2004-04-01

    Electricity markets are structurally different to other commodities, and the real-time dynamic balancing of the electricity network involves many external factors. Because of this, it is not a simple matter to transfer conventional models of financial time series analysis to wholesale electricity prices. The rationale for this compilation of chapters from international authors is, therefore, to provide econometric analysis of wholesale power markets around the world, to give greater understanding of their particular characteristics, and to assess the applicability of various methods of price modelling. Researchers and professionals in this sector will find the book an invaluable guide to the most important state-of-the-art modelling techniques which are converging to define the special approaches necessary for unravelling and forecasting the behaviour of electricity prices. It is a high-quality synthesis of the work of financial engineering, industrial economics and power systems analysis, as they relate to the behaviour of competitive electricity markets. (author)

  2. NEO-AMERICAN MARKET ECONOMY MODEL

    Directory of Open Access Journals (Sweden)

    Chiriţescu Dorel-Dumitru

    2011-09-01

    Full Text Available The American market economy system is the convergence point of two theoretical models: the neoclassic model (which excludes the state intervention and keynesist model (in which the state intervenes as decisional economic agent. the relaunch of American economy set off at the end of the last century in the same time with Ronald Reagan presidency and relies on a important financial and technological patrimony.

  3. Consumer Behaviour Model on the Furniture Market

    Directory of Open Access Journals (Sweden)

    BEDNÁRIK, Éva

    2010-01-01

    Full Text Available This study introduces the furniture purchasing behaviour model. The study describes thebehaviour model and characteristics of decision making and the environmental factors affecting theindividuals besides emphasising the family character of furniture purchase. We introduce a chapterfrom the primary research verifying the model that analyses the validity of customer behaviour trendsdefined as elements of the impersonal environment on the furniture market. We touch on our lifestylebased segmentation model which is elaborated in our work in detail. The method of primary researchis quantitative, personal interview. While working out our research model we applied a method thatenables multi-level cross-section and cohort analyses. Our work has verified the need for trendresearches on the furniture market so we suggest the construction and the near-future launch of a trendresearch system consisting of several modules that reveals the specific factors on the furniture marketbesides verifying the validity of general behaviour trends.

  4. An adaptive stochastic model for financial markets

    International Nuclear Information System (INIS)

    Hernández, Juan Antonio; Benito, Rosa Marı´a; Losada, Juan Carlos

    2012-01-01

    An adaptive stochastic model is introduced to simulate the behavior of real asset markets. The model adapts itself by changing its parameters automatically on the basis of the recent historical data. The basic idea underlying the model is that a random variable uniformly distributed within an interval with variable extremes can replicate the histograms of asset returns. These extremes are calculated according to the arrival of new market information. This adaptive model is applied to the daily returns of three well-known indices: Ibex35, Dow Jones and Nikkei, for three complete years. The model reproduces the histograms of the studied indices as well as their autocorrelation structures. It produces the same fat tails and the same power laws, with exactly the same exponents, as in the real indices. In addition, the model shows a great adaptation capability, anticipating the volatility evolution and showing the same volatility clusters observed in the assets. This approach provides a novel way to model asset markets with internal dynamics which changes quickly with time, making it impossible to define a fixed model to fit the empirical observations.

  5. The Influence of Investor Number on a Microscopic Market Model

    Science.gov (United States)

    Hellthaler, T.

    The stock market model of Levy, Persky, Solomon is simulated for much larger numbers of investors. While small markets can lead to realistically looking prices, the resulting prices of large markets oscillate smoothly in a semi-regular fashion.

  6. A marketing model: applications for dietetic professionals.

    Science.gov (United States)

    Parks, S C; Moody, D L

    1986-01-01

    Traditionally, dietitians have communicated the availability of their services to the "public at large." The expectation was that the public would respond favorably to nutrition programs simply because there was a consumer need for them. Recently, however, both societal and consumer needs have changed dramatically, making old communication strategies ineffective and obsolete. The marketing discipline has provided a new model and new decision-making tools for many health professionals to use to more effectively make their services known to multiple consumer groups. This article provides one such model as applied to the dietetic profession. The model explores a definition of the business of dietetics, how to conduct an analysis of the environment, and, finally, the use of both in the choice of new target markets. Further, the model discusses the major components of developing a marketing strategy that will help the practitioner to be competitive in the marketplace. Presented are strategies for defining and re-evaluating the mission of the profession, for using future trends to identify new markets and roles for the profession, and for developing services that make the profession more competitive by better meeting the needs of the consumer.

  7. Migrants' Remittances end the Transformation of Local Spaces: The Case of Financial Markets in Mexico

    Directory of Open Access Journals (Sweden)

    Christian Ambrosius

    2014-06-01

    Remittances, the money sent by migrants to their families back home, are situated outside ‘traditional’ categories of space in several ways. Not only do these smallscale financial transactions span the transnational space beyond the nation-state; they also move largely outside the institutional spaces of the formal banking sector. Taking the case of financial markets in Mexico and building on recent empirical findings on the impact of migrants’ remittances on the financial sector of the receiving countries, this article explores how remittances may lead to a transformation of local spaces by reducing some of the market failures that prevail, especially in rural financial markets.

  8. Digital Marketing Maturity Models: Overview and Comparison

    OpenAIRE

    Elina Bakhtieva

    2017-01-01

    The variety of available digital tools, strategies and activities might confuse and disorient even an experienced marketer. This applies in particular to B2B companies, which are usually less flexible in uptaking of digital technology than B2C companies. B2B companies are lacking a framework that corresponds to the specifics of the B2B business, and which helps to evaluate a company’s capabilities and to choose an appropriate path. A B2B digital marketing maturity model helps to fill this gap...

  9. Modelling Danish local CHP on market conditions

    DEFF Research Database (Denmark)

    Ravn, Hans V.; Riisom, Jannik; Schaumburg-Müller, Camilla

    2004-01-01

    with the liberalisation process of the energy sectors of the EU countries, it is however anticipated that Danish local CHP are to begin operating on market conditions within the year 2005. This means that the income that the local CHPs previously gained from selling electricity at the feed-in tariff is replaced in part...... the consequences of acting in a liberalised market for a given CHP plant, based on the abovementioned bottom-up model. The key assumption determining the bottom line is the electricity spot price. The formation of the spot price in the Nordic area depends heavily upon the state of the water reservoirs in Norway...

  10. Model of Market Share Affected by Social Media Reputation

    Science.gov (United States)

    Ishii, Akira; Kawahata, Yasuko; Goto, Ujo

    Proposal of market theory to put the effect of social media into account is presented in this paper. The standard market share model in economics is employed as a market theory and the effect of social media is considered quantitatively using the mathematical model for hit phenomena. Using this model, we can estimate the effect of social media in market share as a simple market model simulation using our proposed method.

  11. Limited Commitment Models of the Labour Market

    OpenAIRE

    Jonathan Thomas; Tim Worrall

    2007-01-01

    We present an overview of models of long-term self-enforcing labour con- tracts in which risk-sharing is the dominant motive for contractual solutions. A base model is developed which is sufficiently general to encompass the two-agent problem central to most of the literature, including variable hours. We consider two-sided limited commitment and look at its implications for aggregate labour market variables. We consider the implications for empirical testing and the available empirical evide...

  12. Modeling volatility using state space models.

    Science.gov (United States)

    Timmer, J; Weigend, A S

    1997-08-01

    In time series problems, noise can be divided into two categories: dynamic noise which drives the process, and observational noise which is added in the measurement process, but does not influence future values of the system. In this framework, we show that empirical volatilities (the squared relative returns of prices) exhibit a significant amount of observational noise. To model and predict their time evolution adequately, we estimate state space models that explicitly include observational noise. We obtain relaxation times for shocks in the logarithm of volatility ranging from three weeks (for foreign exchange) to three to five months (for stock indices). In most cases, a two-dimensional hidden state is required to yield residuals that are consistent with white noise. We compare these results with ordinary autoregressive models (without a hidden state) and find that autoregressive models underestimate the relaxation times by about two orders of magnitude since they do not distinguish between observational and dynamic noise. This new interpretation of the dynamics of volatility in terms of relaxators in a state space model carries over to stochastic volatility models and to GARCH models, and is useful for several problems in finance, including risk management and the pricing of derivative securities. Data sets used: Olsen & Associates high frequency DEM/USD foreign exchange rates (8 years). Nikkei 225 index (40 years). Dow Jones Industrial Average (25 years).

  13. Incorporating direct marketing activity into latent attrition models

    NARCIS (Netherlands)

    Schweidel, David A.; Knox, George

    2013-01-01

    When defection is unobserved, latent attrition models provide useful insights about customer behavior and accurate forecasts of customer value. Yet extant models ignore direct marketing efforts. Response models incorporate the effects of direct marketing, but because they ignore latent attrition,

  14. The Space Laser Business Model

    Science.gov (United States)

    2005-01-01

    Creating long-duration, high-powered lasers, for satellites, that can withstand the type of optical misalignment and damage dished out by the unforgiving environment of space, is work that is unique to NASA. It is complicated, specific work, where each step forward is into uncharted territory. In the 1990s, as this technology was first being created, NASA gave free reign to a group of "laser jocks" to develop their own business model and supply the Space Agency with the technology it needed. It was still to be a part of NASA as a division of Goddard Space Flight Center, but would operate independently out of a remote office. The idea for this satellite laboratory was based on the Skunk Works concept at Lockheed Martin Corporation. Formerly known as the Lockheed Corporation, in 1943, the aerospace firm, realizing that the type of advanced research it needed done could not be performed within the confines of a larger company, allowed a group of researchers and engineers to essentially run their own microbusiness without the corporate oversight. The Skunk Works project, in Burbank, California, produced America s first jet fighter, the world s most successful spy plane (U-2), the first 3-times-the-speed-of-sound surveillance aircraft, and the F-117A Nighthawk Stealth Fighter. Boeing followed suit with its Phantom Works, an advanced research and development branch of the company that operates independent of the larger unit and is responsible for a great deal of its most cutting-edge research. NASA s version of this advanced business model was the Space Lidar Technology Center (SLTC), just south of Goddard, in College Park, Maryland. Established in 1998 under a Cooperative Agreement between Goddard and the University of Maryland s A. James Clark School of Engineering, it was a high-tech laser shop where a small group of specialists, never more than 20 employees, worked all hours of the day and night to create the cutting- edge technology the Agency required of them. Drs

  15. Marketing communications model for innovation networks

    Directory of Open Access Journals (Sweden)

    Tiago João Freitas Correia

    2015-10-01

    Full Text Available Innovation is an increasingly relevant concept for the success of any organization, but it also represents a set of internal and external considerations, barriers and challenges to overcome. Along the concept of innovation, new paradigms emerge such as open innovation and co-creation that are simultaneously innovation modifiers and intensifiers in organizations, promoting organizational openness and stakeholder integration within the value creation process. Innovation networks composed by a multiplicity of agents in co-creative work perform as innovation mechanisms to face the increasingly complexity of products, services and markets. Technology, especially the Internet, is an enabler of all process among organizations supported by co-creative platforms for innovation. The definition of marketing communication strategies that promote motivation and involvement of all stakeholders in synergic creation and external promotion is the central aspect of this research. The implementation of the projects is performed by participative workshops with stakeholders from Madan Parque through IDEAS(REVOLUTION methodology and the operational model LinkUp parameterized for the project. The project is divided into the first part, the theoretical framework, and the second part where a model is developed for the marketing communication strategies that appeal to the Madan Parque case study. Keywords: Marketing Communication; Open Innovation, Technology; Innovation Networks; Incubator; Co-Creation.

  16. Project-matrix models of marketing organization

    OpenAIRE

    Gutić Dragutin; Rudelj Siniša

    2009-01-01

    Unlike theory and practice of corporation organization, in marketing organization numerous forms and contents at its disposal are not reached until this day. It can be well estimated that marketing organization today in most of our companies and in almost all its parts, noticeably gets behind corporation organization. Marketing managers have always been occupied by basic, narrow marketing activities as: sales growth, market analysis, market growth and market share, marketing research, introdu...

  17. My Life with State Space Models

    DEFF Research Database (Denmark)

    Lundbye-Christensen, Søren

    2007-01-01

    . The conceptual idea behind the state space model is that the evolution over time in the object we are observing and the measurement process itself are modelled separately. My very first serious analysis of a data set was done using a state space model, and since then I seem to have been "haunted" by state space...

  18. Decision Support Systems as the Bridge between Marketing Models and Marketing Practice

    OpenAIRE

    Wierenga, Berend

    2008-01-01

    textabstractThe field of marketing decision models emerged about fifty years ago. In the beginning, optimization techniques from the field of Operations Research (OR) were dominant, but soon, the modeling of marketing phenomena and marketing problems became interesting in itself, irrespective of whether they could be solved with a known OR technique. The field of marketing models developed its own identity and became an important academic field (Wierenga 2008b). Somewhat later the term "marke...

  19. Assessing market structures in resource markets. An empirical analysis of the market for metallurgical coal using various equilibrium models

    International Nuclear Information System (INIS)

    Lorenczik, Stefan; Panke, Timo

    2015-01-01

    The prevalent market structures found in many resource markets consist of a high concentration on the supply side and a low demand elasticity. Market results are therefore frequently assumed to be an outcome of strategic interaction between producers. Common models to investigate the market outcomes and underlying market structures are games representing competitive markets, strategic Cournot competition and Stackelberg structures taking into account a dominant player acting first followed by one or more followers. Besides analysing a previously neglected scenario of the latter kind, we add to the literature by expanding the application of mathematical models by applying an Equilibrium Problem with Equilibrium Constraints (EPEC), which is used to model multi-leader-follower games, to a spatial market. We apply our model by investigating the prevalent market setting in the international market for metallurgical coal between 2008 and 2010, whose market structure provides arguments for a wide variety of market structures. Using different statistical measures and comparing model with actual market outcomes, we find that two previously neglected settings perform best: First, a setting in which the four largest metallurgical coal exporting firms compete against each other as Stackelberg leaders, while the remainders act as Cournot followers. Second, a setting with BHPB acting as sole Stackelberg leader.

  20. Assessing market structures in resource markets. An empirical analysis of the market for metallurgical coal using various equilibrium models

    Energy Technology Data Exchange (ETDEWEB)

    Lorenczik, Stefan; Panke, Timo [Koeln Univ. (Germany). Inst. of Energy Economics

    2015-05-15

    The prevalent market structures found in many resource markets consist of a high concentration on the supply side and a low demand elasticity. Market results are therefore frequently assumed to be an outcome of strategic interaction between producers. Common models to investigate the market outcomes and underlying market structures are games representing competitive markets, strategic Cournot competition and Stackelberg structures taking into account a dominant player acting first followed by one or more followers. Besides analysing a previously neglected scenario of the latter kind, we add to the literature by expanding the application of mathematical models by applying an Equilibrium Problem with Equilibrium Constraints (EPEC), which is used to model multi-leader-follower games, to a spatial market. We apply our model by investigating the prevalent market setting in the international market for metallurgical coal between 2008 and 2010, whose market structure provides arguments for a wide variety of market structures. Using different statistical measures and comparing model with actual market outcomes, we find that two previously neglected settings perform best: First, a setting in which the four largest metallurgical coal exporting firms compete against each other as Stackelberg leaders, while the remainders act as Cournot followers. Second, a setting with BHPB acting as sole Stackelberg leader.

  1. On modelling the market for natural gas

    International Nuclear Information System (INIS)

    Mathiesen, Lars

    2001-12-01

    Several features may separately or in combination influence conduct and performance of an industry, e.g. the numbers of sellers or buyers, the degree of economies of scale in production and distribution, the temporal and spatial dimensions, etc. Our main focus is on how to model market power. In particular, we demonstrate the rather different solutions obtained from the price-taking behavior versus the oligopolistic Coumot behavior. We also consider two approaches to model the transportation of natural gas. Finally, there is a brief review of previous modeling efforts of the European natural gas industry. (author)

  2. INVESTIGATION OF MARKETING TECHNOLOGIES IN THE INNOVATION PROCESS OF ROCKET AND SPACE INDUSTRY

    Directory of Open Access Journals (Sweden)

    K. B. Dobrova

    2016-01-01

    Full Text Available In this article we have studied the use of marketing technologies in the innovation process of enterprises of rocket and space industry. The present study specifies the relevance of chosen research topic, as well as the essence of marketing innovations at the enterprises of rocket and space industry, the structuring of marketing and management processes in the innovation process. There are provided the most common analytical instruments in the marketing and there is marked the importance of use of a global strategy for the enterprises of rocket and space industry. The article also specifies a clear example of application of marketing technologies in the innovation process of the Federal State Unitary Enterprise "State Space Research and Production Center named after Khrunichev M.V'.'. At the beginning the role and place of innovation management and innovation process in the strategic management of the FSUE "SSRPC named after Khrunichev M.V." are shown. Then there are described the basic marketing methods of program-oriented management of the innovation process in the FSUE "SSRPC named after Khrunichev M.V"" and there is highlighted the innovation marketing strategy of the FSUE "SSRPC named after Khrunichev M.V.". There are presented the distinctive features of the competitive strategy of the company of the rocket and space industry and the features of formation (development of the innovative enterprise development strategy based on marketing innovation in the FSUE "SSRPC named after Khrunichev M.V.". The conclusion includes the main findings of the study conducted.

  3. Modeling of a green certificate market

    International Nuclear Information System (INIS)

    Marchenko, O.V.

    2008-01-01

    The paper considers one of the economic mechanisms, stimulating the introduction of renewable energy sources (RES) - a green certificate market. A mathematical model was developed to describe a supply and demand balance in the electricity and green certificate markets simultaneously. The sellers of certificates are RES owners, who obtain certificates for each unit of electricity produced, and the buyers are consumers, who are obliged by law to buy a certain share of this electricity. Equilibrium structures of the power system including RES with stochastic operation conditions are calculated. The prices of electricity and certificates, as well as the total economic effect of the system are determined taking into account external costs (environmental damages). The paper shows that a mechanism of green certificates is not an ideal means for minimizing the impact of energy on the environment: the economic effect turns out to be smaller than the maximum possible one. However, this deviation is relatively small, therefore the green certificate market allows the external effects to be partially taken into account. Such a market creates incentives for investors, electricity producers and consumers to make power sources mix, modes of electricity production and consumption closer to the optimum ones in terms of the economy as a whole. (author)

  4. Agent-based models of financial markets

    Energy Technology Data Exchange (ETDEWEB)

    Samanidou, E [Department of Economics, University of Kiel, Olshausenstrasse 40, D-24118 Kiel (Germany); Zschischang, E [HSH Nord Bank, Portfolio Mngmt. and Inv., Martensdamm 6, D-24103 Kiel (Germany); Stauffer, D [Institute for Theoretical Physics, Cologne University, D-50923 Koeln (Germany); Lux, T [Department of Economics, University of Kiel, Olshausenstrasse 40, D-24118 Kiel (Germany)

    2007-03-15

    This review deals with several microscopic ('agent-based') models of financial markets which have been studied by economists and physicists over the last decade: Kim-Markowitz, Levy-Levy-Solomon, Cont-Bouchaud, Solomon-Weisbuch, Lux-Marchesi, Donangelo-Sneppen and Solomon-Levy-Huang. After an overview of simulation approaches in financial economics, we first give a summary of the Donangelo-Sneppen model of monetary exchange and compare it with related models in economics literature. Our selective review then outlines the main ingredients of some influential early models of multi-agent dynamics in financial markets (Kim-Markowitz, Levy-Levy-Solomon). As will be seen, these contributions draw their inspiration from the complex appearance of investors' interactions in real-life markets. Their main aim is to reproduce (and, thereby, provide possible explanations) for the spectacular bubbles and crashes seen in certain historical episodes, but they lack (like almost all the work before 1998 or so) a perspective in terms of the universal statistical features of financial time series. In fact, awareness of a set of such regularities (power-law tails of the distribution of returns, temporal scaling of volatility) only gradually appeared over the nineties. With the more precise description of the formerly relatively vague characteristics (e.g. moving from the notion of fat tails to the more concrete one of a power law with index around three), it became clear that financial market dynamics give rise to some kind of universal scaling law. Showing similarities with scaling laws for other systems with many interacting sub-units, an exploration of financial markets as multi-agent systems appeared to be a natural consequence. This topic has been pursued by quite a number of contributions appearing in both the physics and economics literature since the late nineties. From the wealth of different flavours of multi-agent models that have appeared up to now, we

  5. Agent-based models of financial markets

    Science.gov (United States)

    Samanidou, E.; Zschischang, E.; Stauffer, D.; Lux, T.

    2007-03-01

    This review deals with several microscopic ('agent-based') models of financial markets which have been studied by economists and physicists over the last decade: Kim-Markowitz, Levy-Levy-Solomon, Cont-Bouchaud, Solomon-Weisbuch, Lux-Marchesi, Donangelo-Sneppen and Solomon-Levy-Huang. After an overview of simulation approaches in financial economics, we first give a summary of the Donangelo-Sneppen model of monetary exchange and compare it with related models in economics literature. Our selective review then outlines the main ingredients of some influential early models of multi-agent dynamics in financial markets (Kim-Markowitz, Levy-Levy-Solomon). As will be seen, these contributions draw their inspiration from the complex appearance of investors' interactions in real-life markets. Their main aim is to reproduce (and, thereby, provide possible explanations) for the spectacular bubbles and crashes seen in certain historical episodes, but they lack (like almost all the work before 1998 or so) a perspective in terms of the universal statistical features of financial time series. In fact, awareness of a set of such regularities (power-law tails of the distribution of returns, temporal scaling of volatility) only gradually appeared over the nineties. With the more precise description of the formerly relatively vague characteristics (e.g. moving from the notion of fat tails to the more concrete one of a power law with index around three), it became clear that financial market dynamics give rise to some kind of universal scaling law. Showing similarities with scaling laws for other systems with many interacting sub-units, an exploration of financial markets as multi-agent systems appeared to be a natural consequence. This topic has been pursued by quite a number of contributions appearing in both the physics and economics literature since the late nineties. From the wealth of different flavours of multi-agent models that have appeared up to now, we discuss the Cont

  6. Agent-based models of financial markets

    International Nuclear Information System (INIS)

    Samanidou, E; Zschischang, E; Stauffer, D; Lux, T

    2007-01-01

    This review deals with several microscopic ('agent-based') models of financial markets which have been studied by economists and physicists over the last decade: Kim-Markowitz, Levy-Levy-Solomon, Cont-Bouchaud, Solomon-Weisbuch, Lux-Marchesi, Donangelo-Sneppen and Solomon-Levy-Huang. After an overview of simulation approaches in financial economics, we first give a summary of the Donangelo-Sneppen model of monetary exchange and compare it with related models in economics literature. Our selective review then outlines the main ingredients of some influential early models of multi-agent dynamics in financial markets (Kim-Markowitz, Levy-Levy-Solomon). As will be seen, these contributions draw their inspiration from the complex appearance of investors' interactions in real-life markets. Their main aim is to reproduce (and, thereby, provide possible explanations) for the spectacular bubbles and crashes seen in certain historical episodes, but they lack (like almost all the work before 1998 or so) a perspective in terms of the universal statistical features of financial time series. In fact, awareness of a set of such regularities (power-law tails of the distribution of returns, temporal scaling of volatility) only gradually appeared over the nineties. With the more precise description of the formerly relatively vague characteristics (e.g. moving from the notion of fat tails to the more concrete one of a power law with index around three), it became clear that financial market dynamics give rise to some kind of universal scaling law. Showing similarities with scaling laws for other systems with many interacting sub-units, an exploration of financial markets as multi-agent systems appeared to be a natural consequence. This topic has been pursued by quite a number of contributions appearing in both the physics and economics literature since the late nineties. From the wealth of different flavours of multi-agent models that have appeared up to now, we discuss the Cont

  7. Decision Support Systems as the Bridge between Marketing Models and Marketing Practice

    NARCIS (Netherlands)

    B. Wierenga (Berend)

    2008-01-01

    textabstractThe field of marketing decision models emerged about fifty years ago. In the beginning, optimization techniques from the field of Operations Research (OR) were dominant, but soon, the modeling of marketing phenomena and marketing problems became interesting in itself, irrespective of

  8. Modeling Space Radiation with Bleomycin

    Data.gov (United States)

    National Aeronautics and Space Administration — Space radiation is a mixed field of solar particle events (proton) and particles of Galactic Cosmic Rays (GCR) with different energy levels. These radiation events...

  9. Statistical pairwise interaction model of stock market

    Science.gov (United States)

    Bury, Thomas

    2013-03-01

    Financial markets are a classical example of complex systems as they are compound by many interacting stocks. As such, we can obtain a surprisingly good description of their structure by making the rough simplification of binary daily returns. Spin glass models have been applied and gave some valuable results but at the price of restrictive assumptions on the market dynamics or they are agent-based models with rules designed in order to recover some empirical behaviors. Here we show that the pairwise model is actually a statistically consistent model with the observed first and second moments of the stocks orientation without making such restrictive assumptions. This is done with an approach only based on empirical data of price returns. Our data analysis of six major indices suggests that the actual interaction structure may be thought as an Ising model on a complex network with interaction strengths scaling as the inverse of the system size. This has potentially important implications since many properties of such a model are already known and some techniques of the spin glass theory can be straightforwardly applied. Typical behaviors, as multiple equilibria or metastable states, different characteristic time scales, spatial patterns, order-disorder, could find an explanation in this picture.

  10. Market Segmentation Using Bayesian Model Based Clustering

    NARCIS (Netherlands)

    Van Hattum, P.

    2009-01-01

    This dissertation deals with two basic problems in marketing, that are market segmentation, which is the grouping of persons who share common aspects, and market targeting, which is focusing your marketing efforts on one or more attractive market segments. For the grouping of persons who share

  11. Stock market modeling and forecasting a system adaptation approach

    CERN Document Server

    Zheng, Xiaolian

    2013-01-01

    Stock Market Modeling translates experience in system adaptation gained in an engineering context to the modeling of financial markets with a view to improving the capture and understanding of market dynamics. The modeling process is considered as identifying a dynamic system in which a real stock market is treated as an unknown plant and the identification model proposed is tuned by feedback of the matching error. Like a physical system, a stock market exhibits fast and slow dynamics corresponding to internal (such as company value and profitability) and external forces (such as investor sentiment and commodity prices) respectively. The framework presented here, consisting of an internal model and an adaptive filter, is successful at considering both fast and slow market dynamics. A double selection method is efficacious in identifying input factors influential in market movements, revealing them to be both frequency- and market-dependent.   The authors present work on both developed and developing markets ...

  12. Blue ocean strategy: how to create uncontested market space and make the competition irrelevant

    National Research Council Canada - National Science Library

    Kim, W. Chan; Mauborgne, Renée

    2005-01-01

    ... oceans"--Untapped new market spaces ripe for growth. Such strategic moves--which the authors call "value innovation"--create powerful leaps in value that often render rivals obsolete for more than...

  13. Solar energy market penetration models - Science or number mysticism

    Science.gov (United States)

    Warren, E. H., Jr.

    1980-01-01

    The forecast market potential of a solar technology is an important factor determining its R&D funding. Since solar energy market penetration models are the method used to forecast market potential, they have a pivotal role in a solar technology's development. This paper critiques the applicability of the most common solar energy market penetration models. It is argued that the assumptions underlying the foundations of rigorously developed models, or the absence of a reasonable foundation for the remaining models, restrict their applicability.

  14. FORMATIVE AND REFLECTIVE MODELS IN MARKETING RESEARCH

    Directory of Open Access Journals (Sweden)

    Claudia Ioana CIOBANU

    2017-06-01

    Full Text Available Compliance with the construct validity criteria is necessary for the correct assessment of the research in terms of quality and for further development of the marketing models. The identification of formative and reflective constructs as well as the correct testing of their validity and reliability are important methodological steps for marketing research as described in this article. The first part defines the reflective and the formative constructs and highlighst their particularities by analysing the theoretical criteria that differentiate them. In the second part of the study aspects of validity and trust for the formative and reflective constructs are presented as well as some empirical considerations from research literature regarding their measurement.

  15. Documentation of the Uranium Market Model (UMM)

    International Nuclear Information System (INIS)

    1989-01-01

    The Uranium Market Model is used to make projections of activity in the US uranium mining and milling industry. The primary data sources were EIA, the Nuclear Assurance Corporation, and, to a lesser extent, Nuexco and Nuclear Resources International. The Uranium Market Model is a microeconomic simulation model in which uranium supplied by the mining and milling industry is provided to meet the demand for uranium by electric utilities with nuclear power plants. Uranium is measured on a U 3 O 8 (uranium oxide) equivalent basis. The model considers every major production center and utility on a worldwide basis (with Centrally Planned Economies considered in a limited way), and makes annual projections for each major uranium production and consumption region in the world. Typically, nine regions are used: the United States, Canada, Australia, South Africa, Other Africa, Europe, Latin America, the Far East, and Other. Production centers and utilities are identified as being in one of these regions. In general, the model can accommodate any user-provided set of regional definitions and data

  16. Modeling nonstationarity in space and time.

    Science.gov (United States)

    Shand, Lyndsay; Li, Bo

    2017-09-01

    We propose to model a spatio-temporal random field that has nonstationary covariance structure in both space and time domains by applying the concept of the dimension expansion method in Bornn et al. (2012). Simulations are conducted for both separable and nonseparable space-time covariance models, and the model is also illustrated with a streamflow dataset. Both simulation and data analyses show that modeling nonstationarity in both space and time can improve the predictive performance over stationary covariance models or models that are nonstationary in space but stationary in time. © 2017, The International Biometric Society.

  17. Competitive market-based allocation of consumer attention space

    NARCIS (Netherlands)

    S.M. Bohte (Sander); E.H. Gerding (Enrico); J.A. La Poutré (Han)

    2001-01-01

    textabstractThe amount of attention space available for recommending suppliers to consumers on e-commerce sites is typically limited. We present a competitive distributed recommendation mechanism based on adaptive software agents for efficiently allocating the 'consumer attention space', or banners.

  18. CONDUCT RESEARCH STOCK MARKET BASED ON MODELS OF ARCH

    Directory of Open Access Journals (Sweden)

    Ivan Burtnyak

    2016-06-01

    Full Text Available The purpose of this article is to study the dynamics of the volatility of some indicators of financial market of Ukraine using the methods ARCH modeling. As indicators of the financial market we take the most aggregated variables describing profitability or market price of the portfolio, but not individual assets constituting the portfolio. An indicator of the stock market index stands First Stock Trading System (PFTS. The conditional variance of financial indicators reflecting the level of systemic risk, measures the uncertainty associated with forecasting market dynamics. Key words. Autoregression models, econometric models, stock market, financial instruments, the PFTS index, volatility time series. JEL: C 50

  19. Dynamic VaR Measurement of Gold Market with SV-T-MN Model

    Directory of Open Access Journals (Sweden)

    Fenglan Li

    2017-01-01

    Full Text Available VaR (Value at Risk in the gold market was measured and predicted by combining stochastic volatility (SV model with extreme value theory. Firstly, for the fat tail and volatility persistence characteristics in gold market return series, the gold price return volatility was modeled by SV-T-MN (SV-T with Mixture-of-Normal distribution model based on state space. Secondly, future sample volatility prediction was realized by using approximate filtering algorithm. Finally, extreme value theory based on generalized Pareto distribution was applied to measure dynamic risk value (VaR of gold market return. Through the proposed model on the price of gold, empirical analysis was investigated; the results show that presented combined model can measure and predict Value at Risk of the gold market reasonably and effectively and enable investors to further understand the extreme risk of gold market and take coping strategies actively.

  20. A model for marketing planning for new products

    DEFF Research Database (Denmark)

    Martensen, Anne

    1993-01-01

    awareness model. The model can be used to generate improved marketing plans. In this connection, it is important that the model includes the marketing variables, for it is only in this way that the model can be used for marketing plan optimization. It is predicted that a future direction of development...... and use of sales forecasting models for new products will be within optimization of the marketing plan for launching a new product, and not only as a tool for forecasting sales for just one marketing plan....

  1. Modeling the effects of pharmaceutical marketing

    NARCIS (Netherlands)

    Leeflang, P.S.H.; Wieringa, J.E.

    Successful innovation of prescription drugs requires a substantial amount of marketing support. There is, however, much concern about the effects of marketing expenditures on the demand of pharmaceutical products (Manchanda et al., Market Lett 16(3/4):293-308, 2005). For example, excessive marketing

  2. How Can Marketing Academics Serve Marketing Practice? The New Marketing DNA as a Model for Marketing Education

    Science.gov (United States)

    Harrigan, Paul; Hulbert, Bev

    2011-01-01

    This article seeks to address how marketing academics can best serve marketing practice through marketing education. It is contended that, where technology is driving marketing in practice, it is afforded significantly less attention in both theory and education. Thus, the marketing graduates being produced from universities are often lacking in…

  3. Competitive market-based allocation of consumer attention space

    OpenAIRE

    Bohte, Sander; Gerding, Enrico; La Poutré, Han

    2001-01-01

    textabstractThe amount of attention space available for recommending suppliers to consumers on e-commerce sites is typically limited. We present a competitive distributed recommendation mechanism based on adaptive software agents for efficiently allocating the 'consumer attention space', or banners. In the example of an electronic shopping mall, the task is delegated to the individual shops, each of which evaluates the information that is available about the consumer and his or her interests ...

  4. Pump Component Model in SPACE Code

    International Nuclear Information System (INIS)

    Kim, Byoung Jae; Kim, Kyoung Doo

    2010-08-01

    This technical report describes the pump component model in SPACE code. A literature survey was made on pump models in existing system codes. The models embedded in SPACE code were examined to check the confliction with intellectual proprietary rights. Design specifications, computer coding implementation, and test results are included in this report

  5. Herding, minority game, market clearing and efficient markets in a simple spin model framework

    Science.gov (United States)

    Kristoufek, Ladislav; Vosvrda, Miloslav

    2018-01-01

    We present a novel approach towards the financial Ising model. Most studies utilize the model to find settings which generate returns closely mimicking the financial stylized facts such as fat tails, volatility clustering and persistence, and others. We tackle the model utility from the other side and look for the combination of parameters which yields return dynamics of the efficient market in the view of the efficient market hypothesis. Working with the Ising model, we are able to present nicely interpretable results as the model is based on only two parameters. Apart from showing the results of our simulation study, we offer a new interpretation of the Ising model parameters via inverse temperature and entropy. We show that in fact market frictions (to a certain level) and herding behavior of the market participants do not go against market efficiency but what is more, they are needed for the markets to be efficient.

  6. A Hybrid 3D Indoor Space Model

    Directory of Open Access Journals (Sweden)

    A. Jamali

    2016-10-01

    Full Text Available GIS integrates spatial information and spatial analysis. An important example of such integration is for emergency response which requires route planning inside and outside of a building. Route planning requires detailed information related to indoor and outdoor environment. Indoor navigation network models including Geometric Network Model (GNM, Navigable Space Model, sub-division model and regular-grid model lack indoor data sources and abstraction methods. In this paper, a hybrid indoor space model is proposed. In the proposed method, 3D modeling of indoor navigation network is based on surveying control points and it is less dependent on the 3D geometrical building model. This research proposes a method of indoor space modeling for the buildings which do not have proper 2D/3D geometrical models or they lack semantic or topological information. The proposed hybrid model consists of topological, geometrical and semantical space.

  7. Adjustment in property space markets: taking long-term leases and transaction costs seriously

    NARCIS (Netherlands)

    Englund, P.; Gunnelin, Å.; Hendershott, P.H.; Söderberg, B.

    2008-01-01

    Markets for property space adjust only gradually because tenants and landlords are constrained by long-term leases and transaction and information costs. Not only do rents adjust slowly, but space occupancy, which depends on historical rents, often differs from demand at current rent. This creates

  8. SELECTED MODELS OF RAIL MARKETS IN THE CONTEXT OF LIBERALIZATION OF THE RAIL MARKET IN EUROPE

    Directory of Open Access Journals (Sweden)

    Krystian Pietrzak

    2016-09-01

    Full Text Available In the paper author has made an attempt at presenting problems of the operation of European railway transport market against the background of changes taking place in the European Union transport market. These changes are the result of processes aimed at liberalizing the market. In addition, this article defines the conditions of reforms in the Eu-ropean rail market by highlighting various models of its functioning.

  9. Marketing Communications for Continuing Education: A Planning Model.

    Science.gov (United States)

    Vicere, Albert A.

    1982-01-01

    This article presents a model for the formulation of marketing communications strategies geared both to efficiency in direct marketing efforts and effectiveness in the creation of individual program enrollments and institutional identity. (CT)

  10. Conceptual Model for Effective Sports Marketing in Nigeria | Akarah ...

    African Journals Online (AJOL)

    Conceptual Model for Effective Sports Marketing in Nigeria. ... that are influenced by the sports market mix and sports consumers that are influenced by psychological factors and notes that; ... EMAIL FREE FULL TEXT EMAIL FREE FULL TEXT

  11. Stability analysis of an implicitly defined labor market model

    Science.gov (United States)

    Mendes, Diana A.; Mendes, Vivaldo M.

    2008-06-01

    Until very recently, the pervasive existence of models exhibiting well-defined backward dynamics but ill-defined forward dynamics in economics and finance has apparently posed no serious obstacles to the analysis of their dynamics and stability, despite the problems that may arise from possible erroneous conclusions regarding theoretical considerations and policy prescriptions from such models. A large number of papers have dealt with this problem in the past by assuming the existence of symmetry between forward and backward dynamics, even in the case when the map cannot be invertible either forward or backwards. However, this procedure has been seriously questioned over the last few years in a series of papers dealing with implicit difference equations and inverse limit spaces. This paper explores the search and matching labor market model developed by Bhattacharya and Bunzel [J. Bhattacharya, H. Bunzel, Chaotic Planning Solution in the Textbook Model of Equilibrium Labor Market Search and Matching, Mimeo, Iowa State University, 2002; J. Bhattacharya, H. Bunzel, Economics Bulletin 5 (19) (2003) 1-10], with the following objectives in mind: (i) to show that chaotic dynamics may still be present in the model for acceptable parameter values, (ii) to clarify some open questions related with the admissible dynamics in the forward looking setting, by providing a rigorous proof of the existence of cyclic and chaotic dynamics through the application of tools from symbolic dynamics and inverse limit theory.

  12. Preliminary Cost Model for Space Telescopes

    Science.gov (United States)

    Stahl, H. Philip; Prince, F. Andrew; Smart, Christian; Stephens, Kyle; Henrichs, Todd

    2009-01-01

    Parametric cost models are routinely used to plan missions, compare concepts and justify technology investments. However, great care is required. Some space telescope cost models, such as those based only on mass, lack sufficient detail to support such analysis and may lead to inaccurate conclusions. Similarly, using ground based telescope models which include the dome cost will also lead to inaccurate conclusions. This paper reviews current and historical models. Then, based on data from 22 different NASA space telescopes, this paper tests those models and presents preliminary analysis of single and multi-variable space telescope cost models.

  13. Near-Earth Space Radiation Models

    Science.gov (United States)

    Xapsos, Michael A.; O'Neill, Patrick M.; O'Brien, T. Paul

    2012-01-01

    Review of models of the near-Earth space radiation environment is presented, including recent developments in trapped proton and electron, galactic cosmic ray and solar particle event models geared toward spacecraft electronics applications.

  14. MARKET ENTRY STRATEGIES TO EMERGING MARKETS: A CONCEPTUAL MODEL OF TURNKEY PROJECT DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    Bistra Vassileva

    2016-11-01

    Full Text Available The main purpose of the paper is to analyse the international market entry strategies in the light of globalisation processes and to propose a conceptual model of turnkey projects as market entry mode. The specific research objectives are as follows: 1. to develop an integrated framework of the turnkey marketing process as a conceptual model; 2. to analyse BRICS countries as potential host countries for turnkey projects implementation; 3. to assess potential implications of proposed conceptual model for global market entry decisions.

  15. MARKET ENTRY STRATEGIES TO EMERGING MARKETS: A CONCEPTUAL MODEL OF TURNKEY PROJECT DEVELOPMENT

    OpenAIRE

    Bistra Vassileva; Miroslav Nikolov

    2016-01-01

    The main purpose of the paper is to analyse the international market entry strategies in the light of globalisation processes and to propose a conceptual model of turnkey projects as market entry mode. The specific research objectives are as follows: 1. to develop an integrated framework of the turnkey marketing process as a conceptual model; 2. to analyse BRICS countries as potential host countries for turnkey projects implementation; 3. to assess potential implications of proposed concep...

  16. Outflow dynamics in modeling oligopoly markets: the case of the mobile telecommunications market in Poland

    Science.gov (United States)

    Sznajd-Weron, Katarzyna; Weron, Rafał; Włoszczowska, Maja

    2008-11-01

    In this paper we introduce two models of opinion dynamics in oligopoly markets and apply them to a situation where a new entrant challenges two incumbents of the same size. The models differ in the way in which the two forces influencing consumer choice—(local) social interactions and (global) advertising—interact. We study the general behavior of the models using the mean field approach and Monte Carlo simulations and calibrate the models using data from the Polish telecommunications market. For one of the models criticality is observed—below a certain critical level of advertising the market approaches a lock-in situation, where one market leader dominates the market and all other brands disappear. Interestingly, for both models the best fits to real data are obtained for conformity level p \\in (0.3,0.4) . This agrees very well with the conformity level found by Solomon Asch in his famous social experiment.

  17. Space-time modeling of electricity spot prices

    DEFF Research Database (Denmark)

    Abate, Girum Dagnachew; Haldrup, Niels

    In this paper we derive a space-time model for electricity spot prices. A general spatial Durbin model that incorporates the temporal as well as spatial lags of spot prices is presented. Joint modeling of space-time effects is necessarily important when prices and loads are determined in a network...... in the spot price dynamics. Estimation of the spatial Durbin model show that the spatial lag variable is as important as the temporal lag variable in describing the spot price dynamics. We use the partial derivatives impact approach to decompose the price impacts into direct and indirect effects and we show...... that price effects transmit to neighboring markets and decline with distance. In order to examine the evolution of the spatial correlation over time, a time varying parameters spot price spatial Durbin model is estimated using recursive estimation. It is found that the spatial correlation within the Nord...

  18. Conceptual model innovation management: market orientation

    Directory of Open Access Journals (Sweden)

    L.Ya. Maljuta

    2015-06-01

    Full Text Available The article highlights issues that determine the beginning of the innovation process. Determined that until recently in Ukraine at all levels of innovation management (regional, sectoral, institutional dominated grocery orientation innovation that focus on production innovation and found that the transition to a market economy, the restructuring of production and complexity of social needs led to the strengthening of the consumer. It is proved that innovation itself – not the ultimate goal, but only a means of satisfying consumer needs. It proved that changing production conditions, complications of social needs and the need to improve the competitiveness of innovations require finding new forms of innovation. In this regard, proposed to allocate such basic scheme (model of innovation in small businesses, individual entrepreneurs, venture capital firms, eksplerents, patients, violents and commutants, spin-offs and spin-out company, network (or shell company and a network of small businesses.

  19. The 4s web-marketing mix model

    NARCIS (Netherlands)

    Constantinides, Efthymios

    2002-01-01

    This paper reviews the criticism on the 4Ps Marketing Mix framework, the most popular tool of traditional marketing management, and categorizes the main objections of using the model as the foundation of physical marketing. It argues that applying the traditional approach, based on the 4Ps paradigm,

  20. Models for the financial-performance effects of Marketing

    NARCIS (Netherlands)

    Hanssens, D.M.; Dekimpe, Marnik; Wierenga, B.; van der Lans, R.

    We consider marketing-mix models that explicitly include financial performance criteria. These financial metrics are not only comparable across the marketing mix, they also relate well to investors’ evaluation of the firm. To that extent, we treat marketing as an investment in customer value

  1. Marketing for a Web-Based Master's Degree Program in Light of Marketing Mix Model

    Science.gov (United States)

    Pan, Cheng-Chang

    2012-01-01

    The marketing mix model was applied with a focus on Web media to re-strategize a Web-based Master's program in a southern state university in U.S. The program's existing marketing strategy was examined using the four components of the model: product, price, place, and promotion, in hopes to repackage the program (product) to prospective students…

  2. Modeling beams with elements in phase space

    International Nuclear Information System (INIS)

    Nelson, E.M.

    1998-01-01

    Conventional particle codes represent beams as a collection of macroparticles. An alternative is to represent the beam as a collection of current carrying elements in phase space. While such a representation has limitations, it may be less noisy than a macroparticle model, and it may provide insights about the transport of space charge dominated beams which would otherwise be difficult to gain from macroparticle simulations. The phase space element model of a beam is described, and progress toward an implementation and difficulties with this implementation are discussed. A simulation of an axisymmetric beam using 1d elements in phase space is demonstrated

  3. The Impact of E-Commerce Development on the Warehouse Space Market in Poland

    Directory of Open Access Journals (Sweden)

    Dembińska Izabela

    2016-12-01

    Full Text Available The subject of discussion in the article is the impact of e-commerce sector on the warehouse space market. On the basis of available reports, the development of e-commerce has been characterized in Poland, showing the dynamics and the type of change. The needs of e-commerce sector in the field of logistics, in particular in the area of storage, have been presented in the paper. These needs have been characterized and at the same time, how representatives of the warehouse space market are prepared to support companies in the e-commerce sector is also discussed. The considerations are illustrated by the changes that occur as a result of the development of e-commerce on the warehouse space market in Poland.

  4. Business models in commercial media markets: Bargaining, advertising, and mixing

    OpenAIRE

    Thöne, Miriam; Rasch, Alexander; Wenzel, Tobias

    2016-01-01

    We consider a product and a media market and show how a change in the business model employed by the media platforms affects consumers, producers (or advertisers), and price negotiations for advertisements. On both markets, two firms differentiated á la Hotelling compete for consumers. On the media market, consumers can mix between the two outlets whereas on the product market, consumers have to decide for one supplier. With pay-tv, as opposed to free-to-air, mixing by consumers disappears, p...

  5. The 4s web-marketing mix model

    OpenAIRE

    Constantinides, Efthymios

    2002-01-01

    This paper reviews the criticism on the 4Ps Marketing Mix framework, the most popular tool of traditional marketing management, and categorizes the main objections of using the model as the foundation of physical marketing. It argues that applying the traditional approach, based on the 4Ps paradigm, is also a poor choice in the case of virtual marketing and identifies two main limitations of the framework in online environments: the drastically diminished role of the Ps and the lack of any st...

  6. Ising model of financial markets with many assets

    Science.gov (United States)

    Eckrot, A.; Jurczyk, J.; Morgenstern, I.

    2016-11-01

    Many models of financial markets exist, but most of them simulate single asset markets. We study a multi asset Ising model of a financial market. Each agent has two possible actions (buy/sell) for every asset. The agents dynamically adjust their coupling coefficients according to past market returns and external news. This leads to fat tails and volatility clustering independent of the number of assets. We find that a separation of news into different channels leads to sector structures in the cross correlations, similar to those found in real markets.

  7. An improved market penetration model for wind energy technology forecasting

    Energy Technology Data Exchange (ETDEWEB)

    Lund, P D [Helsinki Univ. of Technology, Espoo (Finland). Advanced Energy Systems

    1996-12-31

    An improved market penetration model with application to wind energy forecasting is presented. In the model, a technology diffusion model and manufacturing learning curve are combined. Based on a 85% progress ratio that was found for European wind manufactures and on wind market statistics, an additional wind power capacity of ca 4 GW is needed in Europe to reach a 30 % price reduction. A full breakthrough to low-cost utility bulk power markets could be achieved at a 24 GW level. (author)

  8. An improved market penetration model for wind energy technology forecasting

    International Nuclear Information System (INIS)

    Lund, P.D.

    1995-01-01

    An improved market penetration model with application to wind energy forecasting is presented. In the model, a technology diffusion model and manufacturing learning curve are combined. Based on a 85% progress ratio that was found for European wind manufactures and on wind market statistics, an additional wind power capacity of ca 4 GW is needed in Europe to reach a 30 % price reduction. A full breakthrough to low-cost utility bulk power markets could be achieved at a 24 GW level. (author)

  9. An improved market penetration model for wind energy technology forecasting

    Energy Technology Data Exchange (ETDEWEB)

    Lund, P.D. [Helsinki Univ. of Technology, Espoo (Finland). Advanced Energy Systems

    1995-12-31

    An improved market penetration model with application to wind energy forecasting is presented. In the model, a technology diffusion model and manufacturing learning curve are combined. Based on a 85% progress ratio that was found for European wind manufactures and on wind market statistics, an additional wind power capacity of ca 4 GW is needed in Europe to reach a 30 % price reduction. A full breakthrough to low-cost utility bulk power markets could be achieved at a 24 GW level. (author)

  10. Future Market Share of Space Solar Electric Power Under Open Competition

    Science.gov (United States)

    Smith, S. J.; Mahasenan, N.; Clarke, J. F.; Edmonds, J. A.

    2002-01-01

    This paper assesses the value of Space Solar Power deployed under market competition with a full suite of alternative energy technologies over the 21st century. Our approach is to analyze the future energy system under a number of different scenarios that span a wide range of possible future demographic, socio-economic, and technological developments. Scenarios both with, and without, carbon dioxide concentration stabilization policies are considered. We use the comprehensive set of scenarios created for the Intergovernmental Panel on Climate Change Special Report on Emissions Scenarios (Nakicenovic and Swart 2000). The focus of our analysis will be the cost of electric generation. Cost is particularly important when considering electric generation since the type of generation is, from a practical point of view, largely irrelevant to the end-user. This means that different electricity generation technologies must compete on the basis of price. It is important to note, however, that even a technology that is more expensive than average can contribute to the overall generation mix due to geographical and economic heterogeneity (Clarke and Edmonds 1993). This type of competition is a central assumption of the modeling approach used here. Our analysis suggests that, under conditions of full competition of all available technologies, Space Solar Power at 7 cents per kW-hr could comprise 5-10% of global electric generation by the end of the century, with a global total generation of 10,000 TW-hr. The generation share of Space Solar Power is limited due to competition with lower-cost nuclear, biomass, and terrestrial solar PV and wind. The imposition of a carbon constraint does not significantly increase the total amount of power generated by Space Solar Power in cases where a full range of advanced electric generation technologies are also available. Potential constraints on the availability of these other electric generation options can increase the amount of

  11. Petroleum Market Model of the National Energy Modeling System

    International Nuclear Information System (INIS)

    1997-01-01

    The purpose of this report is to define the objectives of the Petroleum Market Model (PMM), describe its basic approach, and provide detail on how it works. This report is intended as a reference document for model analysts, users, and the public. The PMM models petroleum refining activities, the marketing of petroleum products to consumption regions. The production of natural gas liquids in gas processing plants, and domestic methanol production. The PMM projects petroleum product prices and sources of supply for meeting petroleum product demand. The sources of supply include crude oil, both domestic and imported; other inputs including alcohols and ethers; natural gas plant liquids production; petroleum product imports; and refinery processing gain. In addition, the PMM estimates domestic refinery capacity expansion and fuel consumption. Product prices are estimated at the Census division level and much of the refining activity information is at the Petroleum Administration for Defense (PAD) District level. This report is organized as follows: Chapter 2, Model Purpose; Chapter 3, Model Overview and Rationale; Chapter 4, Model Structure; Appendix A, Inventory of Input Data, Parameter Estimates, and Model Outputs; Appendix B, Detailed Mathematical Description of the Model; Appendix C, Bibliography; Appendix D, Model Abstract; Appendix E, Data Quality; Appendix F, Estimation methodologies; Appendix G, Matrix Generator documentation; Appendix H, Historical Data Processing; and Appendix I, Biofuels Supply Submodule

  12. Petroleum Market Model of the National Energy Modeling System

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-01-01

    The purpose of this report is to define the objectives of the Petroleum Market Model (PMM), describe its basic approach, and provide detail on how it works. This report is intended as a reference document for model analysts, users, and the public. The PMM models petroleum refining activities, the marketing of petroleum products to consumption regions. The production of natural gas liquids in gas processing plants, and domestic methanol production. The PMM projects petroleum product prices and sources of supply for meeting petroleum product demand. The sources of supply include crude oil, both domestic and imported; other inputs including alcohols and ethers; natural gas plant liquids production; petroleum product imports; and refinery processing gain. In addition, the PMM estimates domestic refinery capacity expansion and fuel consumption. Product prices are estimated at the Census division level and much of the refining activity information is at the Petroleum Administration for Defense (PAD) District level. This report is organized as follows: Chapter 2, Model Purpose; Chapter 3, Model Overview and Rationale; Chapter 4, Model Structure; Appendix A, Inventory of Input Data, Parameter Estimates, and Model Outputs; Appendix B, Detailed Mathematical Description of the Model; Appendix C, Bibliography; Appendix D, Model Abstract; Appendix E, Data Quality; Appendix F, Estimation methodologies; Appendix G, Matrix Generator documentation; Appendix H, Historical Data Processing; and Appendix I, Biofuels Supply Submodule.

  13. On discrete models of space-time

    International Nuclear Information System (INIS)

    Horzela, A.; Kempczynski, J.; Kapuscik, E.; Georgia Univ., Athens, GA; Uzes, Ch.

    1992-02-01

    Analyzing the Einstein radiolocation method we come to the conclusion that results of any measurement of space-time coordinates should be expressed in terms of rational numbers. We show that this property is Lorentz invariant and may be used in the construction of discrete models of space-time different from the models of the lattice type constructed in the process of discretization of continuous models. (author)

  14. Analysis and modelling of the fuels european market

    International Nuclear Information System (INIS)

    Simon, V.

    1999-04-01

    The research focus on the European fuel market prices referring to the Rotterdam and Genoa spot markets as well the German, Italian and French domestic markets. The thesis try to explain the impact of the London IPE future market on spot prices too. The mainstream research has demonstrated that co-integration seems to be the best theoretical approach to investigate the long run equilibrium relations. A particular attention will be devoted to the structural change in the econometric modelling on these equilibriums. A deep analysis of the main European petroleum products markets permit a better model specification concerning each of these markets. Further, we will test if any evidence of relations between spot and domestic prices could be confirmed. Finally, alternative scenarios will be depicted to forecast prices in the petroleum products markets. The objective is to observe the model reaction to changes crude oil prices. (author)

  15. QSAR modeling and chemical space analysis of antimalarial compounds

    Science.gov (United States)

    Sidorov, Pavel; Viira, Birgit; Davioud-Charvet, Elisabeth; Maran, Uko; Marcou, Gilles; Horvath, Dragos; Varnek, Alexandre

    2017-05-01

    Generative topographic mapping (GTM) has been used to visualize and analyze the chemical space of antimalarial compounds as well as to build predictive models linking structure of molecules with their antimalarial activity. For this, a database, including 3000 molecules tested in one or several of 17 anti- Plasmodium activity assessment protocols, has been compiled by assembling experimental data from in-house and ChEMBL databases. GTM classification models built on subsets corresponding to individual bioassays perform similarly to the earlier reported SVM models. Zones preferentially populated by active and inactive molecules, respectively, clearly emerge in the class landscapes supported by the GTM model. Their analysis resulted in identification of privileged structural motifs of potential antimalarial compounds. Projection of marketed antimalarial drugs on this map allowed us to delineate several areas in the chemical space corresponding to different mechanisms of antimalarial activity. This helped us to make a suggestion about the mode of action of the molecules populating these zones.

  16. Space Vehicle Reliability Modeling in DIORAMA

    Energy Technology Data Exchange (ETDEWEB)

    Tornga, Shawn Robert [Los Alamos National Lab. (LANL), Los Alamos, NM (United States)

    2016-07-12

    When modeling system performance of space based detection systems it is important to consider spacecraft reliability. As space vehicles age the components become prone to failure for a variety of reasons such as radiation damage. Additionally, some vehicles may lose the ability to maneuver once they exhaust fuel supplies. Typically failure is divided into two categories: engineering mistakes and technology surprise. This document will report on a method of simulating space vehicle reliability in the DIORAMA framework.

  17. Impulse-response analysis of the market share attraction model

    NARCIS (Netherlands)

    D. Fok (Dennis); Ph.H.B.F. Franses (Philip Hans)

    1999-01-01

    textabstractWe propose a simulation-based technique to calculate impulse-response functions and their confidence intervals in a market share attraction model [MCI]. As an MCI model implies a reduced form model for the logs of relative market shares, simulation techniques have to be used to obtain

  18. Building models for marketing decisions : Past, present and future

    NARCIS (Netherlands)

    Leeflang, PSH; Wittink, DR

    We review five eras of model building in marketing, with special emphasis on the fourth and the fifth eras, the present and the future. At many firms managers now routinely use model-based results for marketing decisions. Given an increasing number of successful applications, the demand for models

  19. An agent model for the high-end gamers market

    NARCIS (Netherlands)

    Adriaansen, T.; Armbruster, H.D.; Kempf, K.; Li, H.

    2013-01-01

    Understanding the driving forces in the markets of their products is a basic necessity for any business. Quantitative models are either aggregated over large market segments or restricted to utility models of an individual's buying decision. While the aggregate models acknowledge that customer

  20. MARKET EVALUATION MODEL: TOOL FORBUSINESS DECISIONS

    OpenAIRE

    Porlles Loarte, José; Yenque Dedios, Julio; Lavado Soto, Aurelio

    2014-01-01

    In the present work the concepts of potential market and global market are analyzed as the basis for strategic decisions of market with long term perspectives, when the implantation of a business in certain geographic area is evaluated. On this conceptual frame, the methodological tool is proposed to evaluate a commercial decision, for which it is taken as reference the case from the brewing industry in Peru, considering that this industry faces in the region entrepreneurial reorderings withi...

  1. Emulating a flexible space structure: Modeling

    Science.gov (United States)

    Waites, H. B.; Rice, S. C.; Jones, V. L.

    1988-01-01

    Control Dynamics, in conjunction with Marshall Space Flight Center, has participated in the modeling and testing of Flexible Space Structures. Through the series of configurations tested and the many techniques used for collecting, analyzing, and modeling the data, many valuable insights have been gained and important lessons learned. This paper discusses the background of the Large Space Structure program, Control Dynamics' involvement in testing and modeling of the configurations (especially the Active Control Technique Evaluation for Spacecraft (ACES) configuration), the results from these two processes, and insights gained from this work.

  2. From discrete-time models to continuous-time, asynchronous modeling of financial markets

    NARCIS (Netherlands)

    Boer, Katalin; Kaymak, Uzay; Spiering, Jaap

    2007-01-01

    Most agent-based simulation models of financial markets are discrete-time in nature. In this paper, we investigate to what degree such models are extensible to continuous-time, asynchronous modeling of financial markets. We study the behavior of a learning market maker in a market with information

  3. From Discrete-Time Models to Continuous-Time, Asynchronous Models of Financial Markets

    NARCIS (Netherlands)

    K. Boer-Sorban (Katalin); U. Kaymak (Uzay); J. Spiering (Jaap)

    2006-01-01

    textabstractMost agent-based simulation models of financial markets are discrete-time in nature. In this paper, we investigate to what degree such models are extensible to continuous-time, asynchronous modelling of financial markets. We study the behaviour of a learning market maker in a market with

  4. A Knowledge Discovery from POS Data using State Space Models

    Science.gov (United States)

    Sato, Tadahiko; Higuchi, Tomoyuki

    The number of competing-brands changes by new product's entry. The new product introduction is endemic among consumer packaged goods firm and is an integral component of their marketing strategy. As a new product's entry affects markets, there is a pressing need to develop market response model that can adapt to such changes. In this paper, we develop a dynamic model that capture the underlying evolution of the buying behavior associated with the new product. This extends an application of a dynamic linear model, which is used by a number of time series analyses, by allowing the observed dimension to change at some point in time. Our model copes with a problem that dynamic environments entail: changes in parameter over time and changes in the observed dimension. We formulate the model with framework of a state space model. We realize an estimation of the model using modified Kalman filter/fixed interval smoother. We find that new product's entry (1) decreases brand differentiation for existing brands, as indicated by decreasing difference between cross-price elasticities; (2) decreases commodity power for existing brands, as indicated by decreasing trend; and (3) decreases the effect of discount for existing brands, as indicated by a decrease in the magnitude of own-brand price elasticities. The proposed framework is directly applicable to other fields in which the observed dimension might be change, such as economic, bioinformatics, and so forth.

  5. An options model for electric power markets

    International Nuclear Information System (INIS)

    Ghosh, Kanchan; Ramesh, V.C.

    1997-01-01

    The international electric utility industry is undergoing a radical transformation from an essentially regulated and monopolistic industry to an industry made uncertain with impending deregulation and the advent of competitive forces. This paper investigates the development of an options market for bulk power trading in a market setup while considering power system planning and operational constraints and/or requirements. In so doing it considers the different market based financial derivative instruments while can be used to trade electrical power in bulk and examines how established tools such as Optimal Power Flow (OPF) may be applied in helping to develop a price for bulk power transactions under a market based setup. (Author)

  6. 3D space analysis of dental models

    Science.gov (United States)

    Chuah, Joon H.; Ong, Sim Heng; Kondo, Toshiaki; Foong, Kelvin W. C.; Yong, Than F.

    2001-05-01

    Space analysis is an important procedure by orthodontists to determine the amount of space available and required for teeth alignment during treatment planning. Traditional manual methods of space analysis are tedious and often inaccurate. Computer-based space analysis methods that work on 2D images have been reported. However, as the space problems in the dental arch exist in all three planes of space, a full 3D analysis of the problems is necessary. This paper describes a visualization and measurement system that analyses 3D images of dental plaster models. Algorithms were developed to determine dental arches. The system is able to record the depths of the Curve of Spee, and quantify space liabilities arising from a non-planar Curve of Spee, malalignment and overjet. Furthermore, the difference between total arch space available and the space required to arrange the teeth in ideal occlusion can be accurately computed. The system for 3D space analysis of the dental arch is an accurate, comprehensive, rapid and repeatable method of space analysis to facilitate proper orthodontic diagnosis and treatment planning.

  7. Development of a virtual power market model to investigate strategic and collusive behavior of market players

    International Nuclear Information System (INIS)

    Shafie-khah, Miadreza; Parsa Moghaddam, Mohsen; Sheikh-El-Eslami, Mohamad Kazem

    2013-01-01

    In this paper, a virtual power market model is proposed to investigate the behavior of power market players from regulator's point of view. In this approach, strategic players are modeled in a multi-agent environment. These agents which are virtual representative of actual players forecast the prices and participate in the markets, exactly the same as real world situation. In addition, the role of ISO is encountered by using security constraint unit commitment (SCUC) and security constraint economic dispatch (SCED) solutions. Moreover, the interaction between market players is modeled using a heuristic dynamic game theory algorithm based on the supply function equilibria (SFE). In addition to the collusive behavior, using the proposed model, the short-term strategic behavior of players, which their effects will appear in long-term, can be simulated. The proposed model enables the market regulators to make decision before implementing new market rules with the confidence of their results. To represent the effectiveness of the proposed method, a case study including wind power plants is considered and the impact of various market rules on players’ behavior is simulated and discussed. Numerical studies indicate that simulating the strategic and collusive behavior prior to any change in the market rules is necessary. - Highlights: • A virtual power market model is proposed using a heuristic dynamic game theory. • The proposed model can simulate the behavior of market players in a certain period. • This model can evaluate the oligopoly, collusive and strategic behavior of players. • The price uncertainty and security constraint are considered. • Neglecting strategic behavior of players can cause adverse consequences

  8. A game theoretic model of the Northwestern European electricity market-market power and the environment

    International Nuclear Information System (INIS)

    Lise, Wietze; Linderhof, Vincent; Kuik, Onno; Kemfert, Claudia; Ostling, Robert; Heinzow, Thomas

    2006-01-01

    This paper develops a static computational game theoretic model. Illustrative results for the liberalising European electricity market are given to demonstrate the type of economic and environmental results that can be generated with the model. The model is empirically calibrated to eight Northwestern European countries, namely Belgium, Denmark, Finland, France, Germany, The Netherlands, Norway, and Sweden. Different market structures are compared, depending on the ability of firms to exercise market power, ranging from perfect competition without market power to strategic competition where large firms exercise market power. In addition, a market power reduction policy is studied where the near-monopolies in France and Belgium are demerged into smaller firms. To analyse environmental impacts, a fixed greenhouse gas emission reduction target is introduced under different market structures. The results indicate that the effects of liberalisation depend on the resulting market structure, but that a reduction in market power of large producers may be beneficial for both the consumer (i.e. lower prices) and the environment (i.e. lower greenhouse gas permit price and lower acidifying and smog emissions)

  9. A model for marketing planning of new products

    DEFF Research Database (Denmark)

    Martensen, Anne

    1994-01-01

    Executive Summary: 1. A model for forecasting the sales of a new product is presented. This model allows to predict the sales development of a new product before it is actually launched on the market. 2. The model makes separate forecasts for the volume of trial and repeat purchases. It also...... incorporates a special model to explain consumer awareness of the new product. 3. Consumer awareness is explained by distribution (shelf facings and in-store promotion), advertising and giving away free samples. 4. The trial model incorporates the total market potential, the probability of being in a buying...... the product after some time. 6. The model requires three types of data input: market data, market research data, and marketing plan data. Using these data, prediction can be made by a user-friendly PC programme. 7. An example is shown demonstrating that the predictions made by the model were in good...

  10. Modelling the short term herding behaviour of stock markets

    International Nuclear Information System (INIS)

    Shapira, Yoash; Berman, Yonatan; Ben-Jacob, Eshel

    2014-01-01

    Modelling the behaviour of stock markets has been of major interest in the past century. The market can be treated as a network of many investors reacting in accordance to their group behaviour, as manifested by the index and effected by the flow of external information into the system. Here we devise a model that encapsulates the behaviour of stock markets. The model consists of two terms, demonstrating quantitatively the effect of the individual tendency to follow the group and the effect of the individual reaction to the available information. Using the above factors we were able to explain several key features of the stock market: the high correlations between the individual stocks and the index; the Epps effect; the high fluctuating nature of the market, which is similar to real market behaviour. Furthermore, intricate long term phenomena are also described by this model, such as bursts of synchronized average correlation and the dominance of the index as demonstrated through partial correlation. (paper)

  11. A complementarity model for the European natural gas market

    International Nuclear Information System (INIS)

    Egging, Ruud; Gabriel, Steven A.; Holz, Franziska; Zhuang, Jifang

    2008-01-01

    In this paper, we present a detailed and comprehensive complementarity model for computing market equilibrium values in the European natural gas system. Market players include producers and their marketing arms which we call 'traders', pipeline and storage operators, marketers, LNG liquefiers, regasifiers, tankers, and three end-use consumption sectors. The economic behavior of producers, traders, pipeline and storage operators, liquefiers and regasifiers is modeled via optimization problems whose Karush-Kuhn-Tucker (KKT) optimality conditions in combination with market-clearing conditions form the complementarity system. The LNG tankers, marketers and consumption sectors are modeled implicitly via appropriate cost functions, aggregate demand curves, and ex post calculations, respectively. The model is run on several case studies that highlight its capabilities, including a simulation of a disruption of Russian supplies via Ukraine

  12. A complementarity model for solving stochastic natural gas market equilibria

    International Nuclear Information System (INIS)

    Zhuang Jifang; Gabriel, Steven A.

    2008-01-01

    This paper presents a stochastic equilibrium model for deregulated natural gas markets. Each market participant (pipeline operators, producers, etc.) solves a stochastic optimization problem whose optimality conditions, when combined with market-clearing conditions give rise to a certain mixed complementarity problem (MiCP). The stochastic aspects are depicted by a recourse problem for each player in which the first-stage decisions relate to long-term contracts and the second-stage decisions relate to spot market activities for three seasons. Besides showing that such a market model is an instance of a MiCP, we provide theoretical results concerning long-term and spot market prices and solve the resulting MiCP for a small yet representative market. We also note an interesting observation for the value of the stochastic solution for non-optimization problems

  13. A complementarity model for solving stochastic natural gas market equilibria

    International Nuclear Information System (INIS)

    Jifang Zhuang; Gabriel, S.A.

    2008-01-01

    This paper presents a stochastic equilibrium model for deregulated natural gas markets. Each market participant (pipeline operators, producers, etc.) solves a stochastic optimization problem whose optimality conditions, when combined with market-clearing conditions give rise to a certain mixed complementarity problem (MiCP). The stochastic aspects are depicted by a recourse problem for each player in which the first-stage decisions relate to long-term contracts and the second-stage decisions relate to spot market activities for three seasons. Besides showing that such a market model is an instance of a MiCP, we provide theoretical results concerning long-term and spot market prices and solve the resulting MiCP for a small yet representative market. We also note an interesting observation for the value of the stochastic solution for non-optimization problems. (author)

  14. Electricity market models and RES integration: The Greek case

    International Nuclear Information System (INIS)

    Simoglou, Christos K.; Biskas, Pandelis N.; Vagropoulos, Stylianos I.; Bakirtzis, Anastasios G.

    2014-01-01

    This paper presents an extensive analysis of the Greek electricity market for the next 7-year period (2014–2020) based on an hour-by-hour simulation considering five different RES technologies, namely wind, PV, small hydro, biomass and CHP with emphasis on PV integration. The impact of RES penetration on the electricity market operation is evaluated under two different models regarding the organization of the Greek wholesale day-ahead electricity market: a mandatory power pool for year 2014 (current market design) and a power exchange for the period 2015–2020 (Target Model). An integrated software tool is used for the simulation of the current and the future day-ahead market clearing algorithm of the Greek wholesale electricity market. Simulation results indicate the impact of the anticipated large-scale RES integration, in conjunction with each market model, on specific indicators of the Greek electricity market in the long-term. - Highlights: • Analysis of the Greek electricity market for the next 7-year period (2014–2020) based on hour-by-hour simulation. • Five different RES technologies are considered with emphasis on PV integration. • A power pool (for 2014) and a power exchange (for 2015–2020) are considered. • Various market indicators are used for the analysis of the impact of the RES integration on the Greek electricity market. • Two alternative tariff schemes for the compensation of the new ground-mounted PV units from 2015 onwards are investigated

  15. An Experimental Model for Market Penetration.

    Science.gov (United States)

    Caren, William L.

    1987-01-01

    A plan for college market penetration that has been successful in increasing the applicant pool for one institution is outlined and discussed. It includes development of performance objectives, a schedule, a promotional plan, market survey, and promotional activities including alumni, media, and other community resources. (MSE)

  16. Applied Creativity: The Creative Marketing Breakthrough Model

    Science.gov (United States)

    Titus, Philip A.

    2007-01-01

    Despite the increasing importance of personal creativity in today's business environment, few conceptual creativity frameworks have been presented in the marketing education literature. The purpose of this article is to advance the integration of creativity instruction into marketing classrooms by presenting an applied creative marketing…

  17. The manifold model for space-time

    International Nuclear Information System (INIS)

    Heller, M.

    1981-01-01

    Physical processes happen on a space-time arena. It turns out that all contemporary macroscopic physical theories presuppose a common mathematical model for this arena, the so-called manifold model of space-time. The first part of study is an heuristic introduction to the concept of a smooth manifold, starting with the intuitively more clear concepts of a curve and a surface in the Euclidean space. In the second part the definitions of the Csub(infinity) manifold and of certain structures, which arise in a natural way from the manifold concept, are given. The role of the enveloping Euclidean space (i.e. of the Euclidean space appearing in the manifold definition) in these definitions is stressed. The Euclidean character of the enveloping space induces to the manifold local Euclidean (topological and differential) properties. A suggestion is made that replacing the enveloping Euclidean space by a discrete non-Euclidean space would be a correct way towards the quantization of space-time. (author)

  18. Mining Marketing Data

    Science.gov (United States)

    2002-01-01

    MarketMiner(R) Products, a line of automated marketing analysis tools manufactured by MarketMiner, Inc., can benefit organizations that perform significant amounts of direct marketing. MarketMiner received a Small Business Innovation Research (SBIR) contract from NASA's Johnson Space Center to develop the software as a data modeling tool for space mission applications. The technology was then built into the company current products to provide decision support for business and marketing applications. With the tool, users gain valuable information about customers and prospects from existing data in order to increase sales and profitability. MarketMiner(R) is a registered trademark of MarketMiner, Inc.

  19. Lag space estimation in time series modelling

    DEFF Research Database (Denmark)

    Goutte, Cyril

    1997-01-01

    The purpose of this article is to investigate some techniques for finding the relevant lag-space, i.e. input information, for time series modelling. This is an important aspect of time series modelling, as it conditions the design of the model through the regressor vector a.k.a. the input layer...

  20. A fuzzy set preference model for market share analysis

    Science.gov (United States)

    Turksen, I. B.; Willson, Ian A.

    1992-01-01

    Consumer preference models are widely used in new product design, marketing management, pricing, and market segmentation. The success of new products depends on accurate market share prediction and design decisions based on consumer preferences. The vague linguistic nature of consumer preferences and product attributes, combined with the substantial differences between individuals, creates a formidable challenge to marketing models. The most widely used methodology is conjoint analysis. Conjoint models, as currently implemented, represent linguistic preferences as ratio or interval-scaled numbers, use only numeric product attributes, and require aggregation of individuals for estimation purposes. It is not surprising that these models are costly to implement, are inflexible, and have a predictive validity that is not substantially better than chance. This affects the accuracy of market share estimates. A fuzzy set preference model can easily represent linguistic variables either in consumer preferences or product attributes with minimal measurement requirements (ordinal scales), while still estimating overall preferences suitable for market share prediction. This approach results in flexible individual-level conjoint models which can provide more accurate market share estimates from a smaller number of more meaningful consumer ratings. Fuzzy sets can be incorporated within existing preference model structures, such as a linear combination, using the techniques developed for conjoint analysis and market share estimation. The purpose of this article is to develop and fully test a fuzzy set preference model which can represent linguistic variables in individual-level models implemented in parallel with existing conjoint models. The potential improvements in market share prediction and predictive validity can substantially improve management decisions about what to make (product design), for whom to make it (market segmentation), and how much to make (market share

  1. Electric market models, competitive model and alternative design

    International Nuclear Information System (INIS)

    Arnedillo, O.

    2007-01-01

    Almost ten years after the liberalization of the Spanish electric system, its market design has remained basically unchanged. Therefore, it is reasonable to consider whether the current model continues to be adequate or whether it should be changed. However, although the current model is far from the absolute optimum, it is suited to the current state of the Spanish system. Only some improvements, such as the reform of the capacity guarantee payment can be undertaken immediately. It will only be possible to undertake other improvements as distribution companies cover all of their electricity needs in forward contracts acquired through a competitive process. (Author)

  2. Parametric Cost Models for Space Telescopes

    Science.gov (United States)

    Stahl, H. Philip; Henrichs, Todd; Dollinger, Courtney

    2010-01-01

    Multivariable parametric cost models for space telescopes provide several benefits to designers and space system project managers. They identify major architectural cost drivers and allow high-level design trades. They enable cost-benefit analysis for technology development investment. And, they provide a basis for estimating total project cost. A survey of historical models found that there is no definitive space telescope cost model. In fact, published models vary greatly [1]. Thus, there is a need for parametric space telescopes cost models. An effort is underway to develop single variable [2] and multi-variable [3] parametric space telescope cost models based on the latest available data and applying rigorous analytical techniques. Specific cost estimating relationships (CERs) have been developed which show that aperture diameter is the primary cost driver for large space telescopes; technology development as a function of time reduces cost at the rate of 50% per 17 years; it costs less per square meter of collecting aperture to build a large telescope than a small telescope; and increasing mass reduces cost.

  3. Parametric cost models for space telescopes

    Science.gov (United States)

    Stahl, H. Philip; Henrichs, Todd; Dollinger, Courtnay

    2017-11-01

    Multivariable parametric cost models for space telescopes provide several benefits to designers and space system project managers. They identify major architectural cost drivers and allow high-level design trades. They enable cost-benefit analysis for technology development investment. And, they provide a basis for estimating total project cost. A survey of historical models found that there is no definitive space telescope cost model. In fact, published models vary greatly [1]. Thus, there is a need for parametric space telescopes cost models. An effort is underway to develop single variable [2] and multi-variable [3] parametric space telescope cost models based on the latest available data and applying rigorous analytical techniques. Specific cost estimating relationships (CERs) have been developed which show that aperture diameter is the primary cost driver for large space telescopes; technology development as a function of time reduces cost at the rate of 50% per 17 years; it costs less per square meter of collecting aperture to build a large telescope than a small telescope; and increasing mass reduces cost.

  4. A bargaining model of regulated markets' integration with an application to electricity supply market

    International Nuclear Information System (INIS)

    Wei Jingyuan; Smeers, Y.; Canon, E.

    1995-01-01

    An integrated market organized by regulated electric utilities is modelled. It is assumed that, given a price vector for the exchange of electricity between each pair of neighboring utilities, utilities independently maximize their own domestic social welfare subject to the zero profit constraint. An equilibrium price vector for exchanges among utilities is defined as the one which clears the exchanges for all pair of business partners. A single piecewise linear model is formulated for computing market equilibria. The model is used to simulate the electricity supply market organized by 11 western European countries

  5. TRENDS IN THE DEVELOPMENT OF MARKETING COMMUNICATIONS IN THE GLOBAL INTERACTIVE SPACE

    Directory of Open Access Journals (Sweden)

    N. Kochkina

    2014-09-01

    Full Text Available The article identifies trends in the development of marketing communications in the global interactive space by analyzing the factors of their functioning and researching motivation of viral audience. It is revealed the prevalence of interactive technologies in today's information space and the growth dynamics of interactive advertising market. It is proved that favorable conditions for marketing communications' functioning forms the basis for the development of viral advertising as an effective communication tool for untraditional impact on potential customers. The popularity of social networks as a major source of viral messages is determined. The motivation of YouTube audience, which provides a resonant video viewing and retransmission, is investigated. Gender and age differences that stipulate communication affect on consumers are identified. Cyclic social consciousness is observed that demands further research of viral audience, including constructing scenarios of viral behavior.

  6. Transforming community access to space science models

    Science.gov (United States)

    MacNeice, Peter; Hesse, Michael; Kuznetsova, Maria; Maddox, Marlo; Rastaetter, Lutz; Berrios, David; Pulkkinen, Antti

    2012-04-01

    Researching and forecasting the ever changing space environment (often referred to as space weather) and its influence on humans and their activities are model-intensive disciplines. This is true because the physical processes involved are complex, but, in contrast to terrestrial weather, the supporting observations are typically sparse. Models play a vital role in establishing a physically meaningful context for interpreting limited observations, testing theory, and producing both nowcasts and forecasts. For example, with accurate forecasting of hazardous space weather conditions, spacecraft operators can place sensitive systems in safe modes, and power utilities can protect critical network components from damage caused by large currents induced in transmission lines by geomagnetic storms.

  7. Multi-agent simulation of competitive electricity markets: Autonomous systems cooperation for European market modeling

    International Nuclear Information System (INIS)

    Santos, Gabriel; Pinto, Tiago; Morais, Hugo; Sousa, Tiago M.; Pereira, Ivo F.; Fernandes, Ricardo; Praça, Isabel; Vale, Zita

    2015-01-01

    Highlights: • Definition of an ontology allowing the communication between multi-agents systems. • Social welfare evaluation in different electricity markets. • Demonstration of the use of the proposed ontology between two multi-agents systems. • Strategic biding in electricity markets. • European electricity markets comparison. - Abstract: The electricity market restructuring, and its worldwide evolution into regional and even continental scales, along with the increasing necessity for an adequate integration of renewable energy sources, is resulting in a rising complexity in power systems operation. Several power system simulators have been developed in recent years with the purpose of helping operators, regulators, and involved players to understand and deal with this complex and constantly changing environment. The main contribution of this paper is given by the integration of several electricity market and power system models, respecting to the reality of different countries. This integration is done through the development of an upper ontology which integrates the essential concepts necessary to interpret all the available information. The continuous development of Multi-Agent System for Competitive Electricity Markets platform provides the means for the exemplification of the usefulness of this ontology. A case study using the proposed multi-agent platform is presented, considering a scenario based on real data that simulates the European Electricity Market environment, and comparing its performance using different market mechanisms. The main goal is to demonstrate the advantages that the integration of various market models and simulation platforms have for the study of the electricity markets’ evolution

  8. Multiple Time Series Ising Model for Financial Market Simulations

    International Nuclear Information System (INIS)

    Takaishi, Tetsuya

    2015-01-01

    In this paper we propose an Ising model which simulates multiple financial time series. Our model introduces the interaction which couples to spins of other systems. Simulations from our model show that time series exhibit the volatility clustering that is often observed in the real financial markets. Furthermore we also find non-zero cross correlations between the volatilities from our model. Thus our model can simulate stock markets where volatilities of stocks are mutually correlated

  9. A marketing mix model for a complex and turbulent environment

    Directory of Open Access Journals (Sweden)

    R. B. Mason

    2007-12-01

    Full Text Available Purpose: This paper is based on the proposition that the choice of marketing tactics is determined, or at least significantly influenced, by the nature of the company’s external environment. It aims to illustrate the type of marketing mix tactics that are suggested for a complex and turbulent environment when marketing and the environment are viewed through a chaos and complexity theory lens. Design/Methodology/Approach: Since chaos and complexity theories are proposed as a good means of understanding the dynamics of complex and turbulent markets, a comprehensive review and analysis of literature on the marketing mix and marketing tactics from a chaos and complexity viewpoint was conducted. From this literature review, a marketing mix model was conceptualised. Findings: A marketing mix model considered appropriate for success in complex and turbulent environments was developed. In such environments, the literature suggests destabilising marketing activities are more effective, whereas stabilising type activities are more effective in simple, stable environments. Therefore the model proposes predominantly destabilising type tactics as appropriate for a complex and turbulent environment such as is currently being experienced in South Africa. Implications: This paper is of benefit to marketers by emphasising a new way to consider the future marketing activities of their companies. How this model can assist marketers and suggestions for research to develop and apply this model are provided. It is hoped that the model suggested will form the basis of empirical research to test its applicability in the turbulent South African environment. Originality/Value: Since businesses and markets are complex adaptive systems, using complexity theory to understand how to cope in complex, turbulent environments is necessary, but has not been widely researched. In fact, most chaos and complexity theory work in marketing has concentrated on marketing strategy, with

  10. Observational modeling of topological spaces

    International Nuclear Information System (INIS)

    Molaei, M.R.

    2009-01-01

    In this paper a model for a multi-dimensional observer by using of the fuzzy theory is presented. Relative form of Tychonoff theorem is proved. The notion of topological entropy is extended. The persistence of relative topological entropy under relative conjugate relation is proved.

  11. Econometric Analysis of the Market Share Attraction Model

    NARCIS (Netherlands)

    D. Fok (Dennis); Ph.H.B.F. Franses (Philip Hans); R. Paap (Richard)

    2001-01-01

    textabstractMarket share attraction models are useful tools for analyzing competitive structures. The models can be used to infer cross-effects of marketing-mix variables, but also the own effects can be adequately estimated while conditioning on competitive reactions. Important features of

  12. Mathematical models in marketing a collection of abstracts

    CERN Document Server

    Funke, Ursula H

    1976-01-01

    Mathematical models can be classified in a number of ways, e.g., static and dynamic; deterministic and stochastic; linear and nonlinear; individual and aggregate; descriptive, predictive, and normative; according to the mathematical technique applied or according to the problem area in which they are used. In marketing, the level of sophistication of the mathe­ matical models varies considerably, so that a nurnber of models will be meaningful to a marketing specialist without an extensive mathematical background. To make it easier for the nontechnical user we have chosen to classify the models included in this collection according to the major marketing problem areas in which they are applied. Since the emphasis lies on mathematical models, we shall not as a rule present statistical models, flow chart models, computer models, or the empirical testing aspects of these theories. We have also excluded competitive bidding, inventory and transportation models since these areas do not form the core of ·the market...

  13. An introduction to Space Weather Integrated Modeling

    Science.gov (United States)

    Zhong, D.; Feng, X.

    2012-12-01

    The need for a software toolkit that integrates space weather models and data is one of many challenges we are facing with when applying the models to space weather forecasting. To meet this challenge, we have developed Space Weather Integrated Modeling (SWIM) that is capable of analysis and visualizations of the results from a diverse set of space weather models. SWIM has a modular design and is written in Python, by using NumPy, matplotlib, and the Visualization ToolKit (VTK). SWIM provides data management module to read a variety of spacecraft data products and a specific data format of Solar-Interplanetary Conservation Element/Solution Element MHD model (SIP-CESE MHD model) for the study of solar-terrestrial phenomena. Data analysis, visualization and graphic user interface modules are also presented in a user-friendly way to run the integrated models and visualize the 2-D and 3-D data sets interactively. With these tools we can locally or remotely analysis the model result rapidly, such as extraction of data on specific location in time-sequence data sets, plotting interplanetary magnetic field lines, multi-slicing of solar wind speed, volume rendering of solar wind density, animation of time-sequence data sets, comparing between model result and observational data. To speed-up the analysis, an in-situ visualization interface is used to support visualizing the data 'on-the-fly'. We also modified some critical time-consuming analysis and visualization methods with the aid of GPU and multi-core CPU. We have used this tool to visualize the data of SIP-CESE MHD model in real time, and integrated the Database Model of shock arrival, Shock Propagation Model, Dst forecasting model and SIP-CESE MHD model developed by SIGMA Weather Group at State Key Laboratory of Space Weather/CAS.

  14. Econophysics and Data Driven Modelling of Market Dynamics

    CERN Document Server

    Aoyama, Hideaki; Chakrabarti, Bikas; Chakraborti, Anirban; Ghosh, Asim; Econophysics and Data Driven Modelling of Market Dynamics

    2015-01-01

    This book presents the works and research findings of physicists, economists, mathematicians, statisticians, and financial engineers who have undertaken data-driven modelling of market dynamics and other empirical studies in the field of Econophysics. During recent decades, the financial market landscape has changed dramatically with the deregulation of markets and the growing complexity of products. The ever-increasing speed and decreasing costs of computational power and networks have led to the emergence of huge databases. The availability of these data should permit the development of models that are better founded empirically, and econophysicists have accordingly been advocating that one should rely primarily on the empirical observations in order to construct models and validate them. The recent turmoil in financial markets and the 2008 crash appear to offer a strong rationale for new models and approaches. The Econophysics community accordingly has an important future role to play in market modelling....

  15. Entrepreneurial environmental management model of marketing in a political-administrative system of Ukraine

    Directory of Open Access Journals (Sweden)

    Sadchenko Olena Vasylivna

    2015-02-01

    Full Text Available The article deals with proposals for entrepreneurial model of environmental management, in particular environmental marketing in modern political and administrative systems. In the context of the complexity of the social structure, forming a dense network of communications, globalization, cultural and economic-ecological space offers new mechanisms for the relationship between the state and civil society in environmental management.

  16. Marketing of renewable energies. Foundations, business models, case studies

    International Nuclear Information System (INIS)

    Herbes, Carsten; Friege, Christian

    2015-01-01

    How to market green electricity or biomethane? What is the right price for renewable energy and how do you design the optimal use of social media? What impact have the EEG or electromobility to the Green Power Marketing? Does direct marketing works or is online marketing the guarantee of success? Answers to these and many other basic questions provides the band with contributions from leading scientists and renowned practitioners. For the first time they describe in a structured form the basics of marketing of renewable energies, provide an introduction to the legal and market-based features and present new business models. The book is based on the latest research results, treats all questions of marketing issues important for practitioners, provides case studies and specific recommendations. [de

  17. Evolutionary model of an anonymous consumer durable market

    Science.gov (United States)

    Kaldasch, Joachim

    2011-07-01

    An analytic model is presented that considers the evolution of a market of durable goods. The model suggests that after introduction goods spread always according to a Bass diffusion. However, this phase will be followed by a diffusion process for durable consumer goods governed by a variation-selection-reproduction mechanism and the growth dynamics can be described by a replicator equation. The theory suggests that products play the role of species in biological evolutionary models. It implies that the evolution of man-made products can be arranged into an evolutionary tree. The model suggests that each product can be characterized by its product fitness. The fitness space contains elements of both sites of the market, supply and demand. The unit sales of products with a higher product fitness compared to the mean fitness increase. Durables with a constant fitness advantage replace other goods according to a logistic law. The model predicts in particular that the mean price exhibits an exponential decrease over a long time period for durable goods. The evolutionary diffusion process is directly related to this price decline and is governed by Gompertz equation. Therefore it is denoted as Gompertz diffusion. Describing the aggregate sales as the sum of first, multiple and replacement purchase the product life cycle can be derived. Replacement purchase causes periodic variations of the sales determined by the finite lifetime of the good (Juglar cycles). The model suggests that both, Bass- and Gompertz diffusion may contribute to the product life cycle of a consumer durable. The theory contains the standard equilibrium view of a market as a special case. It depends on the time scale, whether an equilibrium or evolutionary description is more appropriate. The evolutionary framework is used to derive also the size, growth rate and price distribution of manufacturing business units. It predicts that the size distribution of the business units (products) is lognormal

  18. Linking market interaction intensity of 3D Ising type financial model with market volatility

    Science.gov (United States)

    Fang, Wen; Ke, Jinchuan; Wang, Jun; Feng, Ling

    2016-11-01

    Microscopic interaction models in physics have been used to investigate the complex phenomena of economic systems. The simple interactions involved can lead to complex behaviors and help the understanding of mechanisms in the financial market at a systemic level. This article aims to develop a financial time series model through 3D (three-dimensional) Ising dynamic system which is widely used as an interacting spins model to explain the ferromagnetism in physics. Through Monte Carlo simulations of the financial model and numerical analysis for both the simulation return time series and historical return data of Hushen 300 (HS300) index in Chinese stock market, we show that despite its simplicity, this model displays stylized facts similar to that seen in real financial market. We demonstrate a possible underlying link between volatility fluctuations of real stock market and the change in interaction strengths of market participants in the financial model. In particular, our stochastic interaction strength in our model demonstrates that the real market may be consistently operating near the critical point of the system.

  19. Electrodynamical Model of Quasi-Efficient Financial Markets

    Science.gov (United States)

    Ilinski, Kirill N.; Stepanenko, Alexander S.

    The modelling of financial markets presents a problem which is both theoretically challenging and practically important. The theoretical aspects concern the issue of market efficiency which may even have political implications [1], whilst the practical side of the problem has clear relevance to portfolio management [2] and derivative pricing [3]. Up till now all market models contain "smart money" traders and "noise" traders whose joint activity constitutes the market [4, 5]. On a short time scale this traditional separation does not seem to be realistic, and is hardly acceptable since all high-frequency market participants are professional traders and cannot be separated into "smart" and "noisy." In this paper we present a "microscopic" model with homogenuous quasi-rational behaviour of traders, aiming to describe short time market behaviour. To construct the model we use an analogy between "screening" in quantum electrodynamics and an equilibration process in a market with temporal mispricing [6, 7]. As a result, we obtain the time-dependent distribution function of the returns which is in quantitative agreement with real market data and obeys the anomalous scaling relations recently reported for both high-frequency exchange rates [8], S&P500 [9] and other stock market indices [10, 11].

  20. Marketing of renewable energies. Foundations, business models, case studies; Marketing Erneuerbarer Energien. Grundlagen, Geschaeftsmodelle, Fallbeispiele

    Energy Technology Data Exchange (ETDEWEB)

    Herbes, Carsten [HfWU Nuertingen-Geislingen, Nuertingen (Germany); Friege, Christian (ed.)

    2015-07-01

    How to market green electricity or biomethane? What is the right price for renewable energy and how do you design the optimal use of social media? What impact have the EEG or electromobility to the Green Power Marketing? Does direct marketing works or is online marketing the guarantee of success? Answers to these and many other basic questions provides the band with contributions from leading scientists and renowned practitioners. For the first time they describe in a structured form the basics of marketing of renewable energies, provide an introduction to the legal and market-based features and present new business models. The book is based on the latest research results, treats all questions of marketing issues important for practitioners, provides case studies and specific recommendations. [German] Wie vermarktet man Oekostrom oder Biomethan? Was ist der richtige Preis fuer Erneuerbare Energien und wie gestaltet man den optimalen Einsatz von Social Media? Welche Auswirkungen haben das EEG oder die Elektromobilitaet auf das Gruenstrom-Marketing? Funktioniert Direktvertrieb oder ist Online-Marketing der Erfolgsgarant? Antworten auf diese und viele weitere grundlegende Fragen liefert dieser Band mit Beitraegen fuehrender Wissenschaftler und renommierter Praktiker. Erstmals beschreiben sie hier in strukturierter Form die Grundlagen der Vermarktung von Erneuerbaren Energien, fuehren in die gesetzlichen und marktlichen Besonderheiten ein und stellen neue Geschaeftsmodelle vor. Das Buch fusst auf aktuellen Forschungsergebnissen, behandelt saemtliche fuer Praktiker wichtige Fragen der Vermarktung, liefert Fallbeispiele und konkrete Empfehlungen.

  1. Preliminary Multivariable Cost Model for Space Telescopes

    Science.gov (United States)

    Stahl, H. Philip

    2010-01-01

    Parametric cost models are routinely used to plan missions, compare concepts and justify technology investments. Previously, the authors published two single variable cost models based on 19 flight missions. The current paper presents the development of a multi-variable space telescopes cost model. The validity of previously published models are tested. Cost estimating relationships which are and are not significant cost drivers are identified. And, interrelationships between variables are explored

  2. Using Marketing Capability Maturity Model to Measure Marketing Processes at Iran Transfo Corporation

    OpenAIRE

    Arman Ahmadizad; Seyyed Mojtaba Akhavan Hejazi; Amirhossein Sabourtinat

    2011-01-01

    Abstract In this study marketing maturity model has been used in Iran Transfo Corporation. For this purpose, the five levels process maturity model has been applied. The statistical population includes managers, supervisors and experts of marketing and sales at Iran Transfo Corporation and due to its small size, the entire population has been studied as the sample of research. 11 questionnaires have been used for data collection its validity has been confirmed by content validity analysis ...

  3. Effective hamiltonian calculations using incomplete model spaces

    International Nuclear Information System (INIS)

    Koch, S.; Mukherjee, D.

    1987-01-01

    It appears that the danger of encountering ''intruder states'' is substantially reduced if an effective hamiltonian formalism is developed for incomplete model spaces (IMS). In a Fock-space approach, the proof a ''connected diagram theorem'' is fairly straightforward with exponential-type of ansatze for the wave-operator W, provided the normalization chosen for W is separable. Operationally, one just needs a suitable categorization of the Fock-space operators into ''diagonal'' and ''non-diagonal'' parts that is generalization of the corresponding procedure for the complete model space. The formalism is applied to prototypical 2-electron systems. The calculations have been performed on the Cyber 205 super-computer. The authors paid special attention to an efficient vectorization for the construction and solution of the resulting coupled non-linear equations

  4. Including investment risk in large-scale power market models

    DEFF Research Database (Denmark)

    Lemming, Jørgen Kjærgaard; Meibom, P.

    2003-01-01

    Long-term energy market models can be used to examine investments in production technologies, however, with market liberalisation it is crucial that such models include investment risks and investor behaviour. This paper analyses how the effect of investment risk on production technology selection...... can be included in large-scale partial equilibrium models of the power market. The analyses are divided into a part about risk measures appropriate for power market investors and a more technical part about the combination of a risk-adjustment model and a partial-equilibrium model. To illustrate...... the analyses quantitatively, a framework based on an iterative interaction between the equilibrium model and a separate risk-adjustment module was constructed. To illustrate the features of the proposed modelling approach we examined how uncertainty in demand and variable costs affects the optimal choice...

  5. Volatility Forecasting Models and Market Co-Integration: A Study on South-East Asian Markets

    Directory of Open Access Journals (Sweden)

    Erie Febrian

    2014-11-01

    Full Text Available Volatility forecasting is an imperative research field in financial markets and crucial component in most financial decisions. Nevertheless, which model should be used to assess volatility remains a complex issue as different volatility models result in different volatility approximations. The concern becomes more complicated when one tries to use the forecasting for asset distribution and risk management purposes in the linked regional markets. This paper aims at observing the effectiveness of the contending models of statistical and econometric volatility forecasting in the three South-east Asian prominent capital markets, i.e. STI, KLSE, and JKSE. In this paper, we evaluate eleven different models based on two classes of evaluation measures, i.e. symmetric and asymmetric error statistics, following Kumar's (2006 framework. We employ 10-year data as in sample and 6-month data as out of sample to construct and test the models, consecutively. The resulting superior methods, which are selected based on the out of sample forecasts and some evaluation measures in the respective markets, are then used to assess the markets cointegration. We find that the best volatility forecasting models for JKSE, KLSE, and STI are GARCH (2,1, GARCH(3,1, and GARCH (1,1, respectively. We also find that international portfolio investors cannot benefit from diversification among these three equity markets as they are cointegrated.

  6. Photovoltaic subsystem marketing and distribution model: programming manual. Final report

    Energy Technology Data Exchange (ETDEWEB)

    1982-07-01

    Complete documentation of the marketing and distribution (M and D) computer model is provided. The purpose is to estimate the costs of selling and transporting photovoltaic solar energy products from the manufacturer to the final customer. The model adjusts for the inflation and regional differences in marketing and distribution costs. The model consists of three major components: the marketing submodel, the distribution submodel, and the financial submodel. The computer program is explained including the input requirements, output reports, subprograms and operating environment. The program specifications discuss maintaining the validity of the data and potential improvements. An example for a photovoltaic concentrator collector demonstrates the application of the model.

  7. A CDO option market model on standardized CDS index tranches

    DEFF Research Database (Denmark)

    Dorn, Jochen

    We provide a market model which implies a dynamic for standardized CDS index tranche spreads. This model is useful for pricing options on tranches with future Issue Dates as well as for modeling emerging options on struc- tured credit derivatives. With the upcoming regulation of the CDS market...... in perspective, the model presented here is also an attempt to face the e ects on pricing approaches provoked by an eventual Clearing Chamber . It becomes also possible to calibrate Index Tranche Options with bespoke tenors/tranche subordination to market data obtained by more liquid Index Tranche Options...

  8. Qualitative models for space system engineering

    Science.gov (United States)

    Forbus, Kenneth D.

    1990-01-01

    The objectives of this project were: (1) to investigate the implications of qualitative modeling techniques for problems arising in the monitoring, diagnosis, and design of Space Station subsystems and procedures; (2) to identify the issues involved in using qualitative models to enhance and automate engineering functions. These issues include representing operational criteria, fault models, alternate ontologies, and modeling continuous signals at a functional level of description; and (3) to develop a prototype collection of qualitative models for fluid and thermal systems commonly found in Space Station subsystems. Potential applications of qualitative modeling to space-systems engineering, including the notion of intelligent computer-aided engineering are summarized. Emphasis is given to determining which systems of the proposed Space Station provide the most leverage for study, given the current state of the art. Progress on using qualitative models, including development of the molecular collection ontology for reasoning about fluids, the interaction of qualitative and quantitative knowledge in analyzing thermodynamic cycles, and an experiment on building a natural language interface to qualitative reasoning is reported. Finally, some recommendations are made for future research.

  9. Oops! Many Marketing Models are Wrong

    Directory of Open Access Journals (Sweden)

    Olivier Mesly

    2012-01-01

    Full Text Available Muchos modelos de ¿marketing¿ que se encuentran en revistas científicas contienen errores de modelado. Este fenómeno ha sido observado desde hace más de treinta años, pero poco se ha hecho para corregir la situación. A fin de evitar señalar autores particulares, se discutirá un ejemplo que se encuentra en los periódicos. Formas apropiadas de los modelos son meticulosamente explicadas y se proporcionan ejemplos de enfoques adecuados de unos autores de ¿marketing¿. El objetivo de este trabajo, no es despectivo sobre la literatura del ¿marketing, más bien es un esfuerzo por rectificar la forma en que la experimentación se hace y se explica.

  10. Electricity market liberalisation - the German model

    International Nuclear Information System (INIS)

    Mueller, W.

    2002-01-01

    This article discusses the experience gained as a result of the opening of the German electricity market - not only from the national but also from European and international points of view. The history of electricity market liberalisation in Germany is described and the market's structure is compared with that of Switzerland. Both the advantages and disadvantages that have been brought about by liberalisation are discussed as well as the role of state regulation. Certain problem areas still to be tackled are discussed, such those in the areas of cartels, possibilities of supplier-change and tariffs. Also, liberalisation in the context of the European Union's efforts in this area are discussed, especially with respect to the consideration of differing structures in the various member countries of the Union

  11. A game theoretic model of the Northwestern European electricity market-market power and the environment

    NARCIS (Netherlands)

    Lise, W.; Linderhof, V.G.M.; Kuik, O.; Kemfert, C.; Ostling, R.; Heinzow, T.

    2006-01-01

    This paper develops a static computational game theoretic model. Illustrative results for the liberalising European electricity market are given to demonstrate the type of economic and environmental results that can be generated with the model. The model is empirically calibrated to eight

  12. Models for electricity market efficiency and bidding strategy analysis

    Science.gov (United States)

    Niu, Hui

    This dissertation studies models for the analysis of market efficiency and bidding behaviors of market participants in electricity markets. Simulation models are developed to estimate how transmission and operational constraints affect the competitive benchmark and market prices based on submitted bids. This research contributes to the literature in three aspects. First, transmission and operational constraints, which have been neglected in most empirical literature, are considered in the competitive benchmark estimation model. Second, the effects of operational and transmission constraints on market prices are estimated through two models based on the submitted bids of market participants. Third, these models are applied to analyze the efficiency of the Electric Reliability Council Of Texas (ERCOT) real-time energy market by simulating its operations for the time period from January 2002 to April 2003. The characteristics and available information for the ERCOT market are considered. In electricity markets, electric firms compete through both spot market bidding and bilateral contract trading. A linear asymmetric supply function equilibrium (SFE) model with transmission constraints is proposed in this dissertation to analyze the bidding strategies with forward contracts. The research contributes to the literature in several aspects. First, we combine forward contracts, transmission constraints, and multi-period strategy (an obligation for firms to bid consistently over an extended time horizon such as a day or an hour) into the linear asymmetric supply function equilibrium framework. As an ex-ante model, it can provide qualitative insights into firms' behaviors. Second, the bidding strategies related to Transmission Congestion Rights (TCRs) are discussed by interpreting TCRs as linear combination of forwards. Third, the model is a general one in the sense that there is no limitation on the number of firms and scale of the transmission network, which can have

  13. Econometric simulation model of the US market for steam coal

    Energy Technology Data Exchange (ETDEWEB)

    Labys, W C; Paik, S; Liebenthal, A M

    1979-01-01

    An econometric investigation of the historical structure of the U.S. market for steam coal was made to forecast demand, supply, inventory, and price behavior. The structure of the steam coal market is examined and a corresponding theoretical model developed. Consideration is given to alternative simulation models based on various combinations of hypotheses about demand and supply. Results from the models are presented and interpreted. 19 references.

  14. Engineering approach to model and compute electric power markets settlements

    International Nuclear Information System (INIS)

    Kumar, J.; Petrov, V.

    2006-01-01

    Back-office accounting settlement activities are an important part of market operations in Independent System Operator (ISO) organizations. A potential way to measure ISO market design correctness is to analyze how well market price signals create incentives or penalties for creating an efficient market to achieve market design goals. Market settlement rules are an important tool for implementing price signals which are fed back to participants via the settlement activities of the ISO. ISO's are currently faced with the challenge of high volumes of data resulting from the increasing size of markets and ever-changing market designs, as well as the growing complexity of wholesale energy settlement business rules. This paper analyzed the problem and presented a practical engineering solution using an approach based on mathematical formulation and modeling of large scale calculations. The paper also presented critical comments on various differences in settlement design approaches to electrical power market design, as well as further areas of development. The paper provided a brief introduction to the wholesale energy market settlement systems and discussed problem formulation. An actual settlement implementation framework and discussion of the results and conclusions were also presented. It was concluded that a proper engineering approach to this domain can yield satisfying results by formalizing wholesale energy settlements. Significant improvements were observed in the initial preparation phase, scoping and effort estimation, implementation and testing. 5 refs., 2 figs

  15. NETWORK BASED BUSINESS MODEL INNOVATION TARGETING THE BOP MARKET

    DEFF Research Database (Denmark)

    Ravn, Jacob; Kroghstrup Nielsen, Martin; Lindgren, Peter

    2009-01-01

    Through innovation of products, process and business models targeting the needs of 4 billion poor people living at "the base of pyramid" (BoP) (Prahalad & Hart 2002) in developing countries the private sector can actively support poverty alleviation and at the same time reach new untouched market....... - A market is estimated a value of 5.3 trillion US$ (Hammond, Kramer, Tran, Kratz 2007). A number of researchers has dealt with the BoP - market potential and not least tried to understand how to penetrate this apparent blue ocean. Two distinct lines of thought when targeting BoP markets in developing...... & Halme 2008). The market and customer line - exemplified by soap producers trying to penetrate the BoPline - exemplified by soap producers trying to penetrate the BoP market through product adaptation selling soap in smaller packages (Hart & Christensen 2002, Prahalad 2006). Based on the case study...

  16. The Interval Stability of an Electricity Market Model

    Directory of Open Access Journals (Sweden)

    Weijuan Wang

    2014-01-01

    Full Text Available Combined with the electric power market dynamic model put forward by Alvarado, an interval model of electricity markets is established and investigated in this paper pertaining to the range of demand elasticity with suppliers and consumers. The stability of an electricity market framework with demand elasticity interval is analyzed. The conclusions characterizing the interval model provided are derived by constructing a suitable Lyapunov function and using the theory of interval dynamical system in differential equations and matrix inequality theory and so forth. Applying the corollary obtained can judge the system stability by available data about demand elasticity. The obtained results are validated and illustrated by a case example.

  17. Modeling long-term dynamics of electricity markets

    International Nuclear Information System (INIS)

    Olsina, Fernando; Garces, Francisco; Haubrich, H.-J.

    2006-01-01

    In the last decade, many countries have restructured their electricity industries by introducing competition in their power generation sectors. Although some restructuring has been regarded as successful, the short experience accumulated with liberalized power markets does not allow making any founded assertion about their long-term behavior. Long-term prices and long-term supply reliability are now center of interest. This concerns firms considering investments in generation capacity and regulatory authorities interested in assuring the long-term supply adequacy and the stability of power markets. In order to gain significant insight into the long-term behavior of liberalized power markets, in this paper, a simulation model based on system dynamics is proposed and the underlying mathematical formulations extensively discussed. Unlike classical market models based on the assumption that market outcomes replicate the results of a centrally made optimization, the approach presented here focuses on replicating the system structure of power markets and the logic of relationships among system components in order to derive its dynamical response. The simulations suggest that there might be serious problems to adjust early enough the generation capacity necessary to maintain stable reserve margins, and consequently, stable long-term price levels. Because of feedback loops embedded in the structure of power markets and the existence of some time lags, the long-term market development might exhibit a quite volatile behavior. By varying some exogenous inputs, a sensitivity analysis is carried out to assess the influence of these factors on the long-run market dynamics

  18. Modeling large data sets in marketing

    NARCIS (Netherlands)

    Balasubramanian, S; Gupta, S; Kamakura, W; Wedel, M

    In the last two decades, marketing databases have grown significantly in terms of size and richness of available information. The analysis of these databases raises several information-related and statistical issues. We aim at providing an overview of a selection of issues related to the analysis of

  19. Multimedia Mapping using Continuous State Space Models

    DEFF Research Database (Denmark)

    Lehn-Schiøler, Tue

    2004-01-01

    In this paper a system that transforms speech waveforms to animated faces are proposed. The system relies on continuous state space models to perform the mapping, this makes it possible to ensure video with no sudden jumps and allows continuous control of the parameters in 'face space'. Simulations...... are performed on recordings of 3-5 sec. video sequences with sentences from the Timit database. The model is able to construct an image sequence from an unknown noisy speech sequence fairly well even though the number of training examples are limited....

  20. State-Space Modelling in Marine Science

    DEFF Research Database (Denmark)

    Albertsen, Christoffer Moesgaard

    State-space models provide a natural framework for analysing time series that cannot be observed without error. This is the case for fisheries stock assessments and movement data from marine animals. In fisheries stock assessments, the aim is to estimate the stock size; however, the only data...... available is the number of fish removed from the population and samples on a small fraction of the population. In marine animal movement, accurate position systems such as GPS cannot be used. Instead, inaccurate alternative must be used yielding observations with large errors. Both assessment and individual...... animal movement models are important for management and conservation of marine animals. Consequently, models should be developed to be operational in a management context while adequately evaluating uncertainties in the models. This thesis develops state-space models using the Laplace approximation...

  1. Physical models on discrete space and time

    International Nuclear Information System (INIS)

    Lorente, M.

    1986-01-01

    The idea of space and time quantum operators with a discrete spectrum has been proposed frequently since the discovery that some physical quantities exhibit measured values that are multiples of fundamental units. This paper first reviews a number of these physical models. They are: the method of finite elements proposed by Bender et al; the quantum field theory model on discrete space-time proposed by Yamamoto; the finite dimensional quantum mechanics approach proposed by Santhanam et al; the idea of space-time as lattices of n-simplices proposed by Kaplunovsky et al; and the theory of elementary processes proposed by Weizsaecker and his colleagues. The paper then presents a model proposed by the authors and based on the (n+1)-dimensional space-time lattice where fundamental entities interact among themselves 1 to 2n in order to build up a n-dimensional cubic lattice as a ground field where the physical interactions take place. The space-time coordinates are nothing more than the labelling of the ground field and take only discrete values. 11 references

  2. Mouse infection models for space flight immunology

    Science.gov (United States)

    Chapes, Stephen Keith; Ganta, Roman Reddy; Chapers, S. K. (Principal Investigator)

    2005-01-01

    Several immunological processes can be affected by space flight. However, there is little evidence to suggest that flight-induced immunological deficits lead to illness. Therefore, one of our goals has been to define models to examine host resistance during space flight. Our working hypothesis is that space flight crews will come from a heterogeneous population; the immune response gene make-up will be quite varied. It is unknown how much the immune response gene variation contributes to the potential threat from infectious organisms, allergic responses or other long term health problems (e.g. cancer). This article details recent efforts of the Kansas State University gravitational immunology group to assess how population heterogeneity impacts host health, either in laboratory experimental situations and/or using the skeletal unloading model of space-flight stress. This paper details our use of several mouse strains with several different genotypes. In particular, mice with varying MHCII allotypes and mice on the C57BL background with different genetic defects have been particularly useful tools with which to study infections by Staphylococcus aureus, Salmonella typhimurium, Pasteurella pneumotropica and Ehrlichia chaffeensis. We propose that some of these experimental challenge models will be useful to assess the effects of space flight on host resistance to infection.

  3. Modeling market power in electricity markets: Is the devil only in the details?

    Energy Technology Data Exchange (ETDEWEB)

    Bautista, Guillermo; Anjos, Miguel F.; Vannelli, Anthony

    2007-01-15

    Basic approximations of the transmission system are ubiquitous in the literature on modeling competition in electricity markets. Because the main concern of market power is with active power, reactive power and voltage-related issues are commonly neglected, even though they are inherent features of an electrical power system. However, the usefulness of stylized formulations that do not comprise these system elements may be severely limited. (author)

  4. Modeling energy market dynamics using discrete event system simulation

    International Nuclear Information System (INIS)

    Gutierrez-Alcaraz, G.; Sheble, G.B.

    2009-01-01

    This paper proposes the use of Discrete Event System Simulation to study the interactions among fuel and electricity markets and consumers, and the decision-making processes of fuel companies (FUELCOs), generation companies (GENCOs), and consumers in a simple artificial energy market. In reality, since markets can reach a stable equilibrium or fail, it is important to observe how they behave in a dynamic framework. We consider a Nash-Cournot model in which marketers are depicted as Nash-Cournot players that determine supply to meet end-use consumption. Detailed engineering considerations such as transportation network flows are omitted, because the focus is upon the selection and use of appropriate market models to provide answers to policy questions. (author)

  5. Restructured electric power systems analysis of electricity markets with equilibrium models

    CERN Document Server

    2010-01-01

    Electricity market deregulation is driving the power energy production from a monopolistic structure into a competitive market environment. The development of electricity markets has necessitated the need to analyze market behavior and power. Restructured Electric Power Systems reviews the latest developments in electricity market equilibrium models and discusses the application of such models in the practical analysis and assessment of electricity markets.

  6. Urban space in the market of the frontier zone: perceptions and conceptions in a mobile scenario

    Directory of Open Access Journals (Sweden)

    Contreras Díaz, María Margarita

    2015-12-01

    Full Text Available This article had the objective to identify perceptions of walkers about the urban public space of six avenue market in the border zone of San Jose de Cucuta, Colombia. The research follows a mix focus, qualitative of content analysis, from deep interviews and quantitative through a confirmatory factorial analysis. Results: as chaotic and congested is perceived the six avenue market; urban elements are used and modified continuously by informal salesmen without symbolic connotation that establish a system of relationships with elements of surrounding scenery; citizens and foreigners show a high degree of commitment and graceful to the city and country; planning to be considered only commercial pedestrian road are manifested as solution to congestion and chaos in the avenue. Conclusion: the six avenue market located in the border zone, follows a intercultural cohabitation mode: state, residents, culture and territory are merging categories to conception of urban public space, components business culture, economic status and psychosocial factors are significantly associated with cultural, social and economic status variable urban space.

  7. New Skeletal-Space-Filling Models

    Science.gov (United States)

    Clarke, Frank H.

    1977-01-01

    Describes plastic, skeletal molecular models that are color-coded and can illustrate both the conformation and overall shape of small molecules. They can also be converted to space-filling counterparts by the additions of color-coded polystyrene spheres. (MLH)

  8. Reliability models for Space Station power system

    Science.gov (United States)

    Singh, C.; Patton, A. D.; Kim, Y.; Wagner, H.

    1987-01-01

    This paper presents a methodology for the reliability evaluation of Space Station power system. The two options considered are the photovoltaic system and the solar dynamic system. Reliability models for both of these options are described along with the methodology for calculating the reliability indices.

  9. Habitability Concept Models for Living in Space

    Science.gov (United States)

    Ferrino, M.

    2002-01-01

    As growing trends show, living in "space" has acquired new meanings, especially considering the utilization of the International Space Station (ISS) with regard to group interaction as well as individual needs in terms of time, space and crew accommodations. In fact, for the crew, the Spaced Station is a combined Laboratory-Office/Home and embodies ethical, social, and cultural aspects as additional parameters to be assessed to achieve a user centered architectural design of crew workspace. Habitability Concept Models can improve the methods and techniques used to support the interior design and layout of space architectures and at the same time guarantee a human focused approach. This paper discusses and illustrates some of the results obtained for the interior design of a Habitation Module for the ISS. In this work, two different but complementary approaches are followed. The first is "object oriented" and based on Video Data (American and Russian) supported by Proxemic methods (Edward T. Hall, 1963 and Francesca Pregnolato, 1998). This approach offers flexible and adaptive design solutions. The second is "subject oriented" and based on a Virtual Reality environment. With this approach human perception and cognitive aspects related to a specific crew task are considered. Data obtained from these two approaches are used to verify requirements and advance the design of the Habitation Module for aspects related to man machine interfaces (MMI), ergonomics, work and free-time. It is expected that the results achieved can be applied to future space related projects.

  10. Termination of Dynamic Contracts in an Equilibrium Labor Market Model

    OpenAIRE

    Wang, Cheng

    2005-01-01

    I construct an equilibrium model of the labor market where workers and firms enter into dyamic contracts that can potentially last forever, but are subject to optimal terminations. Upon a termination, the firm hires a new worker, and the worker who is terminated receives a termination compensation from the firm and is then free to go back to the labor market to seek new employment opportunities and enter into new dynamic contracts. The model permits only two types of equilibrium terminations ...

  11. Power system models - A description of power markets and outline of market modelling in Wilmar

    DEFF Research Database (Denmark)

    Meibom, Peter; Morthorst, Poul Erik; Nielsen, Lars Henrik

    2004-01-01

    The aim of the Wilmar project is to investigate technical and economical problems related to large-scale deployment of renewable sources and to develop a modelling tool that can handle system simulations for a larger geographical region with anInternational power exchange. Wilmar is an abbreviati...... description of the power market models usedin Wilmar is given in the second part, though the mathematical presentations of the models are left out of this report and will be treated in a later publication from the project.......The aim of the Wilmar project is to investigate technical and economical problems related to large-scale deployment of renewable sources and to develop a modelling tool that can handle system simulations for a larger geographical region with anInternational power exchange. Wilmar is an abbreviation...... of “Wind Power Integration in Liberalised Electricity Markets”. The project was started in 2002 and is funded by the EU’s 5th Research programme on energy and environment. Risø National Laboratory isco-ordinator of the project and partners include SINTEF, Kungliga Tekniska Högskola, University of Stuttgart...

  12. Matrix Model for Choosing Green Marketing Sustainable Strategic Alternatives

    Directory of Open Access Journals (Sweden)

    Cătălina Sitnikov

    2015-08-01

    Full Text Available Green marketing examines the symbiotic role played by marketing in ensuring sustainable business, exploring issues concerning the environment and the way strategic decisions can influence it. At present, the environmental issues concern more and more the competitive approach any organization can implement. Based on this approach, organizations can gain competitive advantage by managing environmental variables and by developing and implementing green marketing strategies. Considering the importance and impact of green marketing, by using theoretical concepts and defining a set of research directions, the paper and the research conducted were focused on creating a matrix model for choosing the optimal green marketing strategy, oriented towards competitive advantage. The model is based on the correlation that can be established among the generic strategies of competitive advantage, the variables of extended marketing mix (7Ps and the green marketing strategy matrix. There are also analyzed the implications that may be generated within a company by the adoption of a green marketing strategy and its role in promoting the environmental benefits of products.

  13. E-laboratories : agent-based modeling of electricity markets

    International Nuclear Information System (INIS)

    North, M.; Conzelmann, G.; Koritarov, V.; Macal, C.; Thimmapuram, P.; Veselka, T.

    2002-01-01

    Electricity markets are complex adaptive systems that operate under a wide range of rules that span a variety of time scales. These rules are imposed both from above by society and below by physics. Many electricity markets are undergoing or are about to undergo a transition from centrally regulated systems to decentralized markets. Furthermore, several electricity markets have recently undergone this transition with extremely unsatisfactory results, most notably in California. These high stakes transitions require the introduction of largely untested regulatory structures. Suitable laboratories that can be used to test regulatory structures before they are applied to real systems are needed. Agent-based models can provide such electronic laboratories or ''e-laboratories.'' To better understand the requirements of an electricity market e-laboratory, a live electricity market simulation was created. This experience helped to shape the development of the Electricity Market Complex Adaptive Systems (EMCAS) model. To explore EMCAS' potential as an e-laboratory, several variations of the live simulation were created. These variations probed the possible effects of changing power plant outages and price setting rules on electricity market prices

  14. Predicting Market Impact Costs Using Nonparametric Machine Learning Models.

    Directory of Open Access Journals (Sweden)

    Saerom Park

    Full Text Available Market impact cost is the most significant portion of implicit transaction costs that can reduce the overall transaction cost, although it cannot be measured directly. In this paper, we employed the state-of-the-art nonparametric machine learning models: neural networks, Bayesian neural network, Gaussian process, and support vector regression, to predict market impact cost accurately and to provide the predictive model that is versatile in the number of variables. We collected a large amount of real single transaction data of US stock market from Bloomberg Terminal and generated three independent input variables. As a result, most nonparametric machine learning models outperformed a-state-of-the-art benchmark parametric model such as I-star model in four error measures. Although these models encounter certain difficulties in separating the permanent and temporary cost directly, nonparametric machine learning models can be good alternatives in reducing transaction costs by considerably improving in prediction performance.

  15. Predicting Market Impact Costs Using Nonparametric Machine Learning Models.

    Science.gov (United States)

    Park, Saerom; Lee, Jaewook; Son, Youngdoo

    2016-01-01

    Market impact cost is the most significant portion of implicit transaction costs that can reduce the overall transaction cost, although it cannot be measured directly. In this paper, we employed the state-of-the-art nonparametric machine learning models: neural networks, Bayesian neural network, Gaussian process, and support vector regression, to predict market impact cost accurately and to provide the predictive model that is versatile in the number of variables. We collected a large amount of real single transaction data of US stock market from Bloomberg Terminal and generated three independent input variables. As a result, most nonparametric machine learning models outperformed a-state-of-the-art benchmark parametric model such as I-star model in four error measures. Although these models encounter certain difficulties in separating the permanent and temporary cost directly, nonparametric machine learning models can be good alternatives in reducing transaction costs by considerably improving in prediction performance.

  16. Electricity Market Stochastic Dynamic Model and Its Mean Stability Analysis

    Directory of Open Access Journals (Sweden)

    Zhanhui Lu

    2014-01-01

    Full Text Available Based on the deterministic dynamic model of electricity market proposed by Alvarado, a stochastic electricity market model, considering the random nature of demand sides, is presented in this paper on the assumption that generator cost function and consumer utility function are quadratic functions. The stochastic electricity market model is a generalization of the deterministic dynamic model. Using the theory of stochastic differential equations, stochastic process theory, and eigenvalue techniques, the determining conditions of the mean stability for this electricity market model under small Gauss type random excitation are provided and testified theoretically. That is, if the demand elasticity of suppliers is nonnegative and the demand elasticity of consumers is negative, then the stochastic electricity market model is mean stable. It implies that the stability can be judged directly by initial data without any computation. Taking deterministic electricity market data combined with small Gauss type random excitation as numerical samples to interpret random phenomena from a statistical perspective, the results indicate the conclusions above are correct, valid, and practical.

  17. Real and financial interacting markets: A behavioral macro-model

    International Nuclear Information System (INIS)

    Naimzada, Ahmad; Pireddu, Marina

    2015-01-01

    Highlights: •We propose a model in which the real sector and the stock market interact. •In the stock market there are optimistic and pessimistic fundamentalists. •We detect the mechanisms through which instabilities get transmitted between markets. •In order to perform such analysis, we introduce the “interaction degree approach”. •We show the effects of increasing the interaction degree between the two markets. -- Abstract: In the present paper we propose a model in which the real side of the economy, described via a Keynesian good market approach, interacts with the stock market with heterogeneous speculators, i.e., optimistic and pessimistic fundamentalists, that respectively overestimate and underestimate the reference value due to a belief bias. Agents may switch between optimism and pessimism according to which behavior is more profitable. To the best of our knowledge, this is the first contribution considering both real and financial interacting markets and an evolutionary selection process for which an analytical study is performed. Indeed, employing analytical and numerical tools, we detect the mechanisms and the channels through which the stability of the isolated real and financial sectors leads to instability for the two interacting markets. In order to perform such analysis, we introduce the “interaction degree approach”, which allows us to study the complete three-dimensional system by decomposing it into two subsystems, i.e., the isolated financial and real markets, easier to analyze, that are then linked through a parameter describing the interaction degree between the two markets. We derive the stability conditions both for the isolated markets and for the whole system with interacting markets. Next, we show how to apply the interaction degree approach to our model. Among the various scenarios we are led to analyze, the most interesting one is that in which the isolated markets are stable, but their interaction is destabilizing

  18. The susceptible-infected-recovered (SIR) model for viral marketing

    Science.gov (United States)

    Ismail, Siti Suhaila; Akil, Ku Azlina Ku; Chulan, Majdah; Sharif, Noorzila

    2017-11-01

    Viral marketing is a marketing strategy utilizes social media to spread information about a product or services provided. It is the most powerful way to share information in a short amount of time. The objective of this study is to investigate the dynamic of viral marketing within a time duration in the point of view of mathematics. This study used the epidemiological model known as Susceptible-Infected-Recovered (SIR). The model consists of a system of three differential equations with three state variables namely susceptible (S), infected (I) and recovered (R). It considers a case of SIR model with demography. Numerical experiments have been performed. The results show that viral marketing reaches its peak within two days. The online messages shared will become higher if the initial number of the infected individual has been increased.

  19. Modelling the impact of market interventions on the strategic evolution of electricity markets

    International Nuclear Information System (INIS)

    Bunn, Derek W.; Oliveira, Fernando S.

    2005-01-01

    In this paper, we seek to develop some model-based insights into this two-stage dynamic process linking market interventions with individual company performance through strategic asset trading and structural change. Essentially, this is achieved with an evolutionary, agent-based, computational model that is capable of simulating how a Cournot player, by interacting with his opponents, can rationally adapt his generation portfolio in order to increase value. The functional capabilities of the proposed computational approach facilitate: 1) The study of asset portfolio adaptation as a result of rational choice. This cannot be achieved with a static Cournot model that, by construction, does not take into account endogenously the rational choice of the installed capacities and technologies used by the players. Further, this evolutionary computational model internalizes the ''path dependencies'' as one of the determinants of portfolio adaptation. 2) The analysis of market structure as an endogenous co-evolutionary process, enabling an adaptive view of the impact of short-term regulatory policies on the evolution of the industry's market structure. 3) The analysis of the behavioural implications f the rational adaptation of players to regulatory interventions. This analysis is carried-out by modelling how players trade their assets in order to improve the value of their portfolio. Our model therefore incorporates two main components: a plant trading game and an electricity market game. The plant trading game simulates the interaction between electricity companies that trade generation plants. The electricity market game simulates the performance of portfolios of plant in an electricity market assuming Cournot players. From this two-stage modelling platform, we analyze two sorts of anti-trust interventions: (a) the ''structural changes'' of enforced divestiture and (b) the ''behavioural remedies'' (sic Competition commission) of capacity availability requirements. We have

  20. An economic analysis of space solar power and its cost competitiveness as a supplemental source of energy for space and ground markets

    Science.gov (United States)

    Marzwell, N. I.

    2002-01-01

    Economic Growth has been historically associated with nations that first made use of each new energy source. There is no doubt that Solar Power Satellites is high as a potential energy system for the future. A conceptual cost model of the economics value of space solar power (SSP) as a source of complementary power for in-space and ground applications will be discussed. Several financial analysis will be offered based on present and new technological innovations that may compete with or be complementary to present energy market suppliers depending on various institutional arrangements for government and the private sector in a Global Economy. Any of the systems based on fossil fuels such as coal, oil, natural gas, and synthetic fuels share the problem of being finite resources and are subject to ever-increasing cost as they grow ever more scarce with drastic increase in world population. Increasing world population and requirements from emerging underdeveloped countries will also increase overall demand. This paper would compare the future value of SSP with that of other terrestrial renewable energy in distinct geographic markets within the US, in developing countries, Europe, Asia, and Eastern Europe.

  1. Multi-Agent Market Modeling of Foreign Exchange Rates

    Science.gov (United States)

    Zimmermann, Georg; Neuneier, Ralph; Grothmann, Ralph

    A market mechanism is basically driven by a superposition of decisions of many agents optimizing their profit. The oeconomic price dynamic is a consequence of the cumulated excess demand/supply created on this micro level. The behavior analysis of a small number of agents is well understood through the game theory. In case of a large number of agents one may use the limiting case that an individual agent does not have an influence on the market, which allows the aggregation of agents by statistic methods. In contrast to this restriction, we can omit the assumption of an atomic market structure, if we model the market through a multi-agent approach. The contribution of the mathematical theory of neural networks to the market price formation is mostly seen on the econometric side: neural networks allow the fitting of high dimensional nonlinear dynamic models. Furthermore, in our opinion, there is a close relationship between economics and the modeling ability of neural networks because a neuron can be interpreted as a simple model of decision making. With this in mind, a neural network models the interaction of many decisions and, hence, can be interpreted as the price formation mechanism of a market.

  2. Electricity market equilibrium model with resource constraint and transmission congestion

    Energy Technology Data Exchange (ETDEWEB)

    Gao, F. [ABB, Inc., Santa Clara, CA 95050 (United States); Sheble, G.B. [Portland State University, Portland, OR 97207 (United States)

    2010-01-15

    Electricity market equilibrium model not only helps Independent System Operator/Regulator analyze market performance and market power, but also provides Market Participants the ability to build optimal bidding strategies based on Microeconomics analysis. Supply Function Equilibrium (SFE) is attractive compared to traditional models and many efforts have been made on it before. However, most past research focused on a single-period, single-market model and did not address the fact that GENCOs hold a portfolio of assets in both electricity and fuel markets. This paper first identifies a proper SFE model, which can be applied to a multiple-period situation. Then the paper develops the equilibrium condition using discrete time optimal control considering fuel resource constraints. Finally, the paper discusses the issues of multiple equilibria caused by transmission network and shows that a transmission constrained equilibrium may exist, however the shadow price may not be zero. Additionally, an advantage from the proposed model for merchant transmission planning is discussed. (author)

  3. Electricity market equilibrium model with resource constraint and transmission congestion

    International Nuclear Information System (INIS)

    Gao, F.; Sheble, G.B.

    2010-01-01

    Electricity market equilibrium model not only helps Independent System Operator/Regulator analyze market performance and market power, but also provides Market Participants the ability to build optimal bidding strategies based on Microeconomics analysis. Supply Function Equilibrium (SFE) is attractive compared to traditional models and many efforts have been made on it before. However, most past research focused on a single-period, single-market model and did not address the fact that GENCOs hold a portfolio of assets in both electricity and fuel markets. This paper first identifies a proper SFE model, which can be applied to a multiple-period situation. Then the paper develops the equilibrium condition using discrete time optimal control considering fuel resource constraints. Finally, the paper discusses the issues of multiple equilibria caused by transmission network and shows that a transmission constrained equilibrium may exist, however the shadow price may not be zero. Additionally, an advantage from the proposed model for merchant transmission planning is discussed. (author)

  4. Modeling and Analysis of Space Based Transceivers

    Science.gov (United States)

    Moore, Michael S.; Price, Jeremy C.; Abbott, Ben; Liebetreu, John; Reinhart, Richard C.; Kacpura, Thomas J.

    2007-01-01

    This paper presents the tool chain, methodology, and initial results of a study to provide a thorough, objective, and quantitative analysis of the design alternatives for space Software Defined Radio (SDR) transceivers. The approach taken was to develop a set of models and tools for describing communications requirements, the algorithm resource requirements, the available hardware, and the alternative software architectures, and generate analysis data necessary to compare alternative designs. The Space Transceiver Analysis Tool (STAT) was developed to help users identify and select representative designs, calculate the analysis data, and perform a comparative analysis of the representative designs. The tool allows the design space to be searched quickly while permitting incremental refinement in regions of higher payoff.

  5. Synthesised model of market orientation-business performance relationship

    Directory of Open Access Journals (Sweden)

    G. Nwokah

    2006-12-01

    Full Text Available Purpose: The purpose of this paper is to assess the impact of market orientation on the performance of the organisation. While much empirical works have centered on market orientation, the generalisability of its impact on performance of the Food and Beverages organisations in the Nigeria context has been under-researched. Design/Methodology/Approach: The study adopted a triangulation methodology (quantitative and qualitative approach. Data was collected from key informants using a research instrument. Returned instruments were analyzed using nonparametric correlation through the use of the Statistical Package for Social Sciences (SPSS version 10. Findings: The study validated the earlier instruments but did not find any strong association between market orientation and business performance in the Nigerian context using the food and beverages organisations for the study. The reasons underlying the weak relationship between market orientation and business performance of the Food and Beverages organisations is government policies, new product development, diversification, innovation and devaluation of the Nigerian currency. One important finding of this study is that market orientation leads to business performance through some moderating variables. Implications: The study recommends that Nigerian Government should ensure a stable economy and make economic policies that will enhance existing business development in the country. Also, organisations should have performance measurement systems to detect the impact of investment on market orientation with the aim of knowing how the organisation works. Originality/Value: This study significantly refines the body of knowledge concerning the impact of market orientation on the performance of the organisation, and thereby offers a model of market orientation and business performance in the Nigerian context for marketing scholars and practitioners. This model will, no doubt, contribute to the body of

  6. Why Brazil Needed a New Market Model

    International Nuclear Information System (INIS)

    Pereira, Mario Veiga; Rosenblatt, Jose; Barroso, Luiz Augusto

    2005-06-01

    This paper discusses how the issue of supply adequacy is treated in the Brazilian power market, analyzing lessons learned from past experiences and describing the solutions that are being implemented to reconcile competition in generation with an adequate supply. The primary goal of the initial reform process is Brazil was to ensure sufficient capacity and investment to serve reliably the country's growing economy. This work discusses the difficulties that were identified in its design in terms of supply reliability and the proposals and reforms introduced by two governments to correct them and to implement a design that reconciles competition in generation with a guarantee of adequate supply. It is shown that, due to the high influence of hydroelectric power, Brazilian spot prices do not provide clear economic signals for system expansion, which in turn make bilateral contracts a key element in the market design. Another difficulty that must be addressed is the need to provide adequate expansion in an environment where there is high uncertainty on demand growth levels

  7. Studying Economic Space: Synthesis of Balance and Game-Theoretic Methods of Modelling

    Directory of Open Access Journals (Sweden)

    Natalia Gennadyevna Zakharchenko

    2015-12-01

    Full Text Available The article introduces questions about development of models used to study economic space. The author proposes the model that combines balance and game-theoretic methods for estimating system effects of economic agents’ interactions in multi-level economic space. The model is applied to research interactions between economic agents that are spatially heterogeneous within the Russian Far East. In the model the economic space of region is considered in a territorial dimension (the first level of decomposing space and also in territorial and product dimensions (the second level of decomposing space. The paper shows the mechanism of system effects formation that exists in the economic space of region. The author estimates system effects, analyses the real allocation of these effects between economic agents and identifies three types of local industrial markets: with zero, positive and negative system effects

  8. Adaptive Numerical Algorithms in Space Weather Modeling

    Science.gov (United States)

    Toth, Gabor; vanderHolst, Bart; Sokolov, Igor V.; DeZeeuw, Darren; Gombosi, Tamas I.; Fang, Fang; Manchester, Ward B.; Meng, Xing; Nakib, Dalal; Powell, Kenneth G.; hide

    2010-01-01

    Space weather describes the various processes in the Sun-Earth system that present danger to human health and technology. The goal of space weather forecasting is to provide an opportunity to mitigate these negative effects. Physics-based space weather modeling is characterized by disparate temporal and spatial scales as well as by different physics in different domains. A multi-physics system can be modeled by a software framework comprising of several components. Each component corresponds to a physics domain, and each component is represented by one or more numerical models. The publicly available Space Weather Modeling Framework (SWMF) can execute and couple together several components distributed over a parallel machine in a flexible and efficient manner. The framework also allows resolving disparate spatial and temporal scales with independent spatial and temporal discretizations in the various models. Several of the computationally most expensive domains of the framework are modeled by the Block-Adaptive Tree Solar wind Roe Upwind Scheme (BATS-R-US) code that can solve various forms of the magnetohydrodynamics (MHD) equations, including Hall, semi-relativistic, multi-species and multi-fluid MHD, anisotropic pressure, radiative transport and heat conduction. Modeling disparate scales within BATS-R-US is achieved by a block-adaptive mesh both in Cartesian and generalized coordinates. Most recently we have created a new core for BATS-R-US: the Block-Adaptive Tree Library (BATL) that provides a general toolkit for creating, load balancing and message passing in a 1, 2 or 3 dimensional block-adaptive grid. We describe the algorithms of BATL and demonstrate its efficiency and scaling properties for various problems. BATS-R-US uses several time-integration schemes to address multiple time-scales: explicit time stepping with fixed or local time steps, partially steady-state evolution, point-implicit, semi-implicit, explicit/implicit, and fully implicit numerical

  9. Crane cabins' interior space multivariate anthropometric modeling.

    Science.gov (United States)

    Essdai, Ahmed; Spasojević Brkić, Vesna K; Golubović, Tamara; Brkić, Aleksandar; Popović, Vladimir

    2018-01-01

    Previous research has shown that today's crane cabins fail to meet the needs of a large proportion of operators. Performance and financial losses and effects on safety should not be overlooked as well. The first aim of this survey is to model the crane cabin interior space using up-to-date crane operator anthropometric data and to compare the multivariate and univariate method anthropometric models. The second aim of the paper is to define the crane cabin interior space dimensions that enable anthropometric convenience. To facilitate the cabin design, the anthropometric dimensions of 64 crane operators in the first sample and 19 more in the second sample were collected in Serbia. The multivariate anthropometric models, spanning 95% of the population on the basis of a set of 8 anthropometric dimensions, have been developed. The percentile method was also used on the same set of data. The dimensions of the interior space, necessary for the accommodation of the crane operator, are 1174×1080×1865 mm. The percentiles results for the 5th and 95th model are within the obtained dimensions. The results of this study may prove useful to crane cabin designers in eliminating anthropometric inconsistencies and improving the health of operators, but can also aid in improving the safety, performance and financial results of the companies where crane cabins operate.

  10. Microeconomics of the ideal gas like market models

    Science.gov (United States)

    Chakrabarti, Anindya S.; Chakrabarti, Bikas K.

    2009-10-01

    We develop a framework based on microeconomic theory from which the ideal gas like market models can be addressed. A kinetic exchange model based on that framework is proposed and its distributional features have been studied by considering its moments. Next, we derive the moments of the CC model (Eur. Phys. J. B 17 (2000) 167) as well. Some precise solutions are obtained which conform with the solutions obtained earlier. Finally, an output market is introduced with global price determination in the model with some necessary modifications.

  11. A dynamic marketing model with best reply and inertia

    International Nuclear Information System (INIS)

    Bischi, Gian Italo; Cerboni Baiardi, Lorenzo

    2015-01-01

    In this paper we consider a nonlinear discrete-time dynamic model proposed by Farris et al. (2005) as a market share attraction model with two firms that decide marketing efforts over time according to best reply strategies with naïve expectations. The model also considers an adaptive adjustment toward best reply, a form of inertia or anchoring attitude, and we investigate the effects of heterogeneities among firms. A rich scenario of local and global bifurcations is obtained even with just two competing firms, and a comparison is proposed with apparently similar duopoly models based on repeated best reply dynamics with naïve expectations and adaptive adjustment.

  12. Modelling of hydro and wind power in the regulation market

    International Nuclear Information System (INIS)

    Kiviluoma, J.; Holttinen, H.; Meibom, P.

    2006-01-01

    The amount of required regulation capacity in the power system is affected by the wind power prediction errors. A model has been developed which can evaluate the monetary effects of prediction errors. The model can be used to evaluate (1) the regulation costs of wind power, (2) regulation market prices including effects related to the participation of power producers in the regulating power market, (3) value of accurate wind forecasts and (4) the effect of decreasing the length of the spot market clearance. This article discusses the problems related to developing a realistic model of the regulating power market including the interaction between the spot market and the regulating power market. There are several issues that make things complicated. (1) How to calculate the minimum amount of needed secondary (minute) reserves. Traditionally the Nordic TSOs have used an N-1 criteria in each country to determine the required amounts of positive secondary reserve, but as installed wind power capacity grows, it will become relevant to include the wind power prediction errors in the estimation of secondary reserves. (2) Consumption forecast errors and plant outages also contribute to activation of regulating power and should have stochastic input series besides wind power. (3) Risk premiums and transaction costs in the regulating power market are difficult to estimate as well as the effects of the possible use of market power. This is especially true in the Nordic system with the high share of hydro power, since the water value and hydrological limitations make things more complex than in a thermal system. (4) The available regulation capacity is not necessarily equal to the truly available capacity. All producers don't participate in the regulation market although in principle they could. (orig.)

  13. A BRDF statistical model applying to space target materials modeling

    Science.gov (United States)

    Liu, Chenghao; Li, Zhi; Xu, Can; Tian, Qichen

    2017-10-01

    In order to solve the problem of poor effect in modeling the large density BRDF measured data with five-parameter semi-empirical model, a refined statistical model of BRDF which is suitable for multi-class space target material modeling were proposed. The refined model improved the Torrance-Sparrow model while having the modeling advantages of five-parameter model. Compared with the existing empirical model, the model contains six simple parameters, which can approximate the roughness distribution of the material surface, can approximate the intensity of the Fresnel reflectance phenomenon and the attenuation of the reflected light's brightness with the azimuth angle changes. The model is able to achieve parameter inversion quickly with no extra loss of accuracy. The genetic algorithm was used to invert the parameters of 11 different samples in the space target commonly used materials, and the fitting errors of all materials were below 6%, which were much lower than those of five-parameter model. The effect of the refined model is verified by comparing the fitting results of the three samples at different incident zenith angles in 0° azimuth angle. Finally, the three-dimensional modeling visualizations of these samples in the upper hemisphere space was given, in which the strength of the optical scattering of different materials could be clearly shown. It proved the good describing ability of the refined model at the material characterization as well.

  14. Neural Networks Modelling of Municipal Real Estate Market Rent Rates

    Directory of Open Access Journals (Sweden)

    Muczyński Andrzej

    2016-12-01

    Full Text Available This paper presents the results of research on the application of neural networks modelling of municipal real estate market rent rates. The test procedure was based on selected networks trained on the local real estate market data and transformation of the detected dependencies – through established models – to estimate the potential market rent rates of municipal premises. On this basis, the assessment of the adequacy of the actual market rent rates of municipal properties was made. Empirical research was conducted on the local real estate market of the city of Olsztyn in Poland. In order to describe the phenomenon of market rent rates formation an unidirectional three-layer network and a network of radial base was selected. Analyses showed a relatively low degree of convergence of the actual municipal rent rents with potential market rent rates. This degree was strongly varied depending on the type of business ran on the property and its’ social and economic impact. The applied research methodology and the obtained results can be used in order to rationalize municipal property management, including the activation of rental policy.

  15. Vertical integration and market power: A model-based analysis of restructuring in the Korean electricity market

    International Nuclear Information System (INIS)

    Bunn, Derek W.; Martoccia, Maria; Ochoa, Patricia; Kim, Haein; Ahn, Nam-Sung; Yoon, Yong-Beom

    2010-01-01

    An agent-based simulation model is developed using computational learning to investigate the impact of vertical integration between electricity generators and retailers on market power in a competitive wholesale market setting. It is observed that if partial vertical integration creates some market foreclosure, whether this leads to an increase or decrease in market power is situation specific. A detailed application to the Korean market structure reveals this to be the case. We find that in various cases, whilst vertical integration generally reduces spot prices, it can increase or decrease the market power of other market generators, depending upon the market share and the technology segment of the market, which is integrated, as well as the market concentrations before and after the integration.

  16. Vertical integration and market power. A model-based analysis of restructuring in the Korean electricity market

    Energy Technology Data Exchange (ETDEWEB)

    Bunn, Derek W.; Martoccia, Maria; Ochoa, Patricia [London Business School, London (United Kingdom); Kim, Haein; Ahn, Nam-Sung; Yoon, Yong-Beom [Korean Electric Power Corporation, Seoul (Korea)

    2010-07-15

    An agent-based simulation model is developed using computational learning to investigate the impact of vertical integration between electricity generators and retailers on market power in a competitive wholesale market setting. It is observed that if partial vertical integration creates some market foreclosure, whether this leads to an increase or decrease in market power is situation specific. A detailed application to the Korean market structure reveals this to be the case. We find that in various cases, whilst vertical integration generally reduces spot prices, it can increase or decrease the market power of other market generators, depending upon the market share and the technology segment of the market, which is integrated, as well as the market concentrations before and after the integration. (author)

  17. Vertical integration and market power: A model-based analysis of restructuring in the Korean electricity market

    Energy Technology Data Exchange (ETDEWEB)

    Bunn, Derek W., E-mail: dbunn@london.ed [London Business School, London (United Kingdom); Martoccia, Maria; Ochoa, Patricia [London Business School, London (United Kingdom); Kim, Haein; Ahn, Nam-Sung; Yoon, Yong-Beom [Korean Electric Power Corporation, Seoul (Korea, Republic of)

    2010-07-15

    An agent-based simulation model is developed using computational learning to investigate the impact of vertical integration between electricity generators and retailers on market power in a competitive wholesale market setting. It is observed that if partial vertical integration creates some market foreclosure, whether this leads to an increase or decrease in market power is situation specific. A detailed application to the Korean market structure reveals this to be the case. We find that in various cases, whilst vertical integration generally reduces spot prices, it can increase or decrease the market power of other market generators, depending upon the market share and the technology segment of the market, which is integrated, as well as the market concentrations before and after the integration.

  18. Analysis of Spin Financial Market by GARCH Model

    International Nuclear Information System (INIS)

    Takaishi, Tetsuya

    2013-01-01

    A spin model is used for simulations of financial markets. To determine return volatility in the spin financial market we use the GARCH model often used for volatility estimation in empirical finance. We apply the Bayesian inference performed by the Markov Chain Monte Carlo method to the parameter estimation of the GARCH model. It is found that volatility determined by the GARCH model exhibits ''volatility clustering'' also observed in the real financial markets. Using volatility determined by the GARCH model we examine the mixture-of-distribution hypothesis (MDH) suggested for the asset return dynamics. We find that the returns standardized by volatility are approximately standard normal random variables. Moreover we find that the absolute standardized returns show no significant autocorrelation. These findings are consistent with the view of the MDH for the return dynamics

  19. On Transaction-Cost Models in Continuous-Time Markets

    Directory of Open Access Journals (Sweden)

    Thomas Poufinas

    2015-04-01

    Full Text Available Transaction-cost models in continuous-time markets are considered. Given that investors decide to buy or sell at certain time instants, we study the existence of trading strategies that reach a certain final wealth level in continuous-time markets, under the assumption that transaction costs, built in certain recommended ways, have to be paid. Markets prove to behave in manners that resemble those of complete ones for a wide variety of transaction-cost types. The results are important, but not exclusively, for the pricing of options with transaction costs.

  20. An auction game model for pool-based electricity markets

    International Nuclear Information System (INIS)

    Gan, Deqiang; Wang, Jianquan; Bourcier, Donald V.

    2005-01-01

    A single-period auction game model for analyzing strategic behavior in pool-based electricity markets is introduced in the paper. We study the Nash equilibrium in a pure strategy sense of such games. First an equilibrium existence lemma is proved. Equilibrium characterization under tight capacity constraints is provided. Then it is demonstrated that an auction game does not possess a pure strategy Nash equilibrium under a wide range of market conditions. The paper provides a characterization of equilibrium under weak capacity constraints. We apply the introduced results to analyze market power indices presented in our earlier work and in related reports. Applications to actual market analysis, as well as limitations of the introduced model are provided. (author)

  1. Quantum Brownian motion model for the stock market

    Science.gov (United States)

    Meng, Xiangyi; Zhang, Jian-Wei; Guo, Hong

    2016-06-01

    It is believed by the majority today that the efficient market hypothesis is imperfect because of market irrationality. Using the physical concepts and mathematical structures of quantum mechanics, we construct an econophysical framework for the stock market, based on which we analogously map massive numbers of single stocks into a reservoir consisting of many quantum harmonic oscillators and their stock index into a typical quantum open system-a quantum Brownian particle. In particular, the irrationality of stock transactions is quantitatively considered as the Planck constant within Heisenberg's uncertainty relationship of quantum mechanics in an analogous manner. We analyze real stock data of Shanghai Stock Exchange of China and investigate fat-tail phenomena and non-Markovian behaviors of the stock index with the assistance of the quantum Brownian motion model, thereby interpreting and studying the limitations of the classical Brownian motion model for the efficient market hypothesis from a new perspective of quantum open system dynamics.

  2. Modeling financial markets by self-organized criticality

    Science.gov (United States)

    Biondo, Alessio Emanuele; Pluchino, Alessandro; Rapisarda, Andrea

    2015-10-01

    We present a financial market model, characterized by self-organized criticality, that is able to generate endogenously a realistic price dynamics and to reproduce well-known stylized facts. We consider a community of heterogeneous traders, composed by chartists and fundamentalists, and focus on the role of informative pressure on market participants, showing how the spreading of information, based on a realistic imitative behavior, drives contagion and causes market fragility. In this model imitation is not intended as a change in the agent's group of origin, but is referred only to the price formation process. We introduce in the community also a variable number of random traders in order to study their possible beneficial role in stabilizing the market, as found in other studies. Finally, we also suggest some counterintuitive policy strategies able to dampen fluctuations by means of a partial reduction of information.

  3. Portfolio optimization for index tracking modelling in Malaysia stock market

    Science.gov (United States)

    Siew, Lam Weng; Jaaman, Saiful Hafizah; Ismail, Hamizun

    2016-06-01

    Index tracking is an investment strategy in portfolio management which aims to construct an optimal portfolio to generate similar mean return with the stock market index mean return without purchasing all of the stocks that make up the index. The objective of this paper is to construct an optimal portfolio using the optimization model which adopts regression approach in tracking the benchmark stock market index return. In this study, the data consists of weekly price of stocks in Malaysia market index which is FTSE Bursa Malaysia Kuala Lumpur Composite Index from January 2010 until December 2013. The results of this study show that the optimal portfolio is able to track FBMKLCI Index at minimum tracking error of 1.0027% with 0.0290% excess mean return over the mean return of FBMKLCI Index. The significance of this study is to construct the optimal portfolio using optimization model which adopts regression approach in tracking the stock market index without purchasing all index components.

  4. Inclusion of Switching Behaviour into Relationship Marketing Model

    DEFF Research Database (Denmark)

    Alnaimi, Husam; Jones, Richard; Perkins, Helen

    2011-01-01

    Relationship marketing authors have attempted to develop distinct models suitable for investigating relationship marketing in different contexts. However, there is no agreement as yet about the antecedents that best capture the characteristics of the relational exchange that influences relationship...... marketing. Maintaining a long-term relationship with a customer is one of the fundamental factors determining the value that the customer provides to the company. A serious threat to achieving a long-term relationship is the customer’s switching behaviour. This study develops a theoretical model...... of relationship marketing, which includes customers’ switching behaviour (switchers and stayers), as a vital construct to understand the relationship development process between customers and service providers. Also, hypotheses to specify the association between the underlying models’ constructs were presented...

  5. Modelling of Patterns in Space and Time

    CERN Document Server

    Murray, James

    1984-01-01

    This volume contains a selection of papers presented at the work­ shop "Modelling of Patterns in Space and Time", organized by the 80nderforschungsbereich 123, "8tochastische Mathematische Modelle", in Heidelberg, July 4-8, 1983. The main aim of this workshop was to bring together physicists, chemists, biologists and mathematicians for an exchange of ideas and results in modelling patterns. Since the mathe­ matical problems arising depend only partially on the particular field of applications the interdisciplinary cooperation proved very useful. The workshop mainly treated phenomena showing spatial structures. The special areas covered were morphogenesis, growth in cell cultures, competition systems, structured populations, chemotaxis, chemical precipitation, space-time oscillations in chemical reactors, patterns in flames and fluids and mathematical methods. The discussions between experimentalists and theoreticians were especially interesting and effective. The editors hope that these proceedings reflect ...

  6. The green electricity market model. Proposal for an optional, cost-neutral direct marketing model for supplying electricity customers

    International Nuclear Information System (INIS)

    Heinemann, Ronald

    2014-01-01

    One of the main goals of the Renewable Energy Law (EEG) is the market integration of renewable energy resources. For this purpose it has introduced compulsory direct marketing on the basis of a moving market premium. At the same time the green electricity privilege, a regulation which made it possible for customers to be supplied with electricity from EEG plants, has been abolished without substitution with effect from 1 August 2014. This means that, aside from other direct marketing channels, which will not be economically viable save for in a few exceptional cases, it will no longer be possible in future to sell electricity from EEG plants to electricity customers under the designation ''electricity from renewable energy''. The reason for this is that electricity sold under the market premium model can no longer justifiably be said to originate from renewable energy. As a consequence, almost all green electricity products sold in Germany carry a foreign green electricity certificate.

  7. Data Model Management for Space Information Systems

    Science.gov (United States)

    Hughes, J. Steven; Crichton, Daniel J.; Ramirez, Paul; Mattmann, chris

    2006-01-01

    The Reference Architecture for Space Information Management (RASIM) suggests the separation of the data model from software components to promote the development of flexible information management systems. RASIM allows the data model to evolve independently from the software components and results in a robust implementation that remains viable as the domain changes. However, the development and management of data models within RASIM are difficult and time consuming tasks involving the choice of a notation, the capture of the model, its validation for consistency, and the export of the model for implementation. Current limitations to this approach include the lack of ability to capture comprehensive domain knowledge, the loss of significant modeling information during implementation, the lack of model visualization and documentation capabilities, and exports being limited to one or two schema types. The advent of the Semantic Web and its demand for sophisticated data models has addressed this situation by providing a new level of data model management in the form of ontology tools. In this paper we describe the use of a representative ontology tool to capture and manage a data model for a space information system. The resulting ontology is implementation independent. Novel on-line visualization and documentation capabilities are available automatically, and the ability to export to various schemas can be added through tool plug-ins. In addition, the ingestion of data instances into the ontology allows validation of the ontology and results in a domain knowledge base. Semantic browsers are easily configured for the knowledge base. For example the export of the knowledge base to RDF/XML and RDFS/XML and the use of open source metadata browsers provide ready-made user interfaces that support both text- and facet-based search. This paper will present the Planetary Data System (PDS) data model as a use case and describe the import of the data model into an ontology tool

  8. Dynamic multibody modeling for tethered space elevators

    Science.gov (United States)

    Williams, Paul

    2009-08-01

    This paper presents a fundamental modeling strategy for dealing with powered and propelled bodies moving along space tethers. The tether is divided into a large number of discrete masses, which are connected by viscoelastic springs. The tether is subject to the full range of forces expected in Earth orbit in a relatively simple manner. Two different models of the elevator dynamics are presented. In order to capture the effect of the elevator moving along the tether, the elevator dynamics are included as a separate body in both models. One model treats the elevator's motion dynamically, where propulsive and friction forces are applied to the elevator body. The second model treats the elevator's motion kinematically, where the distance along the tether is determined by adjusting the lengths of tether on either side of the elevator. The tether model is used to determine optimal configurations for the space elevator. A modal analysis of two different configurations is presented which show that the fundamental mode of oscillation is a pendular one around the anchor point with a period on the order of 160 h for the in-plane motion, and 24 h for the out-of-plane motion. Numerical simulation results of the effects of the elevator moving along the cable are presented for different travel velocities and different elevator masses.

  9. Comparing Neural Networks and ARMA Models in Artificial Stock Market

    Czech Academy of Sciences Publication Activity Database

    Krtek, Jiří; Vošvrda, Miloslav

    2011-01-01

    Roč. 18, č. 28 (2011), s. 53-65 ISSN 1212-074X R&D Projects: GA ČR GD402/09/H045 Institutional research plan: CEZ:AV0Z10750506 Keywords : neural networks * vector ARMA * artificial market Subject RIV: AH - Economics http://library.utia.cas.cz/separaty/2011/E/krtek-comparing neural networks and arma models in artificial stock market.pdf

  10. Technology Marketing using PCA , SOM, and STP Strategy Modeling

    OpenAIRE

    Sunghae Jun

    2011-01-01

    Technology marketing is a total processing about identifying and meeting the technological needs of human society. Most technology results exist in intellectual properties like patents. In our research, we consider patent document as a technology. So patent data are analyzed by Principal Component Analysis (PCA) and Self Organizing Map (SOM) for STP(Segmentation, Targeting, and Positioning) strategy modeling. STP is a popular approach for developing marketing strategies. We use STP strategy m...

  11. Space-time modeling of soil moisture

    Science.gov (United States)

    Chen, Zijuan; Mohanty, Binayak P.; Rodriguez-Iturbe, Ignacio

    2017-11-01

    A physically derived space-time mathematical representation of the soil moisture field is carried out via the soil moisture balance equation driven by stochastic rainfall forcing. The model incorporates spatial diffusion and in its original version, it is shown to be unable to reproduce the relative fast decay in the spatial correlation functions observed in empirical data. This decay resulting from variations in local topography as well as in local soil and vegetation conditions is well reproduced via a jitter process acting multiplicatively over the space-time soil moisture field. The jitter is a multiplicative noise acting on the soil moisture dynamics with the objective to deflate its correlation structure at small spatial scales which are not embedded in the probabilistic structure of the rainfall process that drives the dynamics. These scales of order of several meters to several hundred meters are of great importance in ecohydrologic dynamics. Properties of space-time correlation functions and spectral densities of the model with jitter are explored analytically, and the influence of the jitter parameters, reflecting variabilities of soil moisture at different spatial and temporal scales, is investigated. A case study fitting the derived model to a soil moisture dataset is presented in detail.

  12. Methods of Modelling Marketing Activity on Software Sales

    Directory of Open Access Journals (Sweden)

    Bashirov Islam H.

    2013-11-01

    Full Text Available The article studies a topical issue of development of methods of modelling marketing activity on software sales for achievement of efficient functioning of an enterprise. On the basis of analysis of the market type for the studied CloudLinux OS product, the article identifies the market structure type: monopolistic competition. To ensure the information basis of the marketing activity in the target market segment, the article offers the survey method. The article provides a questionnaire, which contains specific questions regarding the studied market segment of hosting services, for an online survey with the help of the Survio service. In accordance with the system approach the CloudLinux OS has properties of systems, namely, diversity. Economic differences are non-price indicators that have no numeric expression and are quality descriptions. Analysis of the market and the conducted survey allow obtaining them. Combination of price and non-price indicators provides a complete description of the product properties. To calculate an integral indicator of competitiveness the article offers to apply a model, which is based on the direct algebraic addition of weight measures of individual indicators, regulation of formalised indicators and use of the mechanism of fuzzy sets for identification of non-formalised indicators. The calculated indicator allows not only assessment of the current level of competitiveness, but also identification of influence of changes of various indicators, which allows increase of efficiency of marketing decisions. Also, having identified the target customers of hosting OS and formalised non-price parameters, it is possible to conduct the search for a set of optimal characteristics of the product. In the result an optimal strategy of the product advancement to the market is formed.

  13. A dynamic replicator model of the players' bids in an oligopolistic electricity market

    International Nuclear Information System (INIS)

    Sahraei-Ardakani, Mostafa; Rahimi-Kian, Ashkan

    2009-01-01

    In this paper, the replicator dynamics of the power suppliers' bids in an oligopolistic electricity market are derived for both the fixed and variable demand cases. The replicator dynamics stability analysis is also performed. The dynamics of the electricity markets are the results of players' decisions. The physical parameters of the power systems (such as the lines capacities, voltage limitations, etc.) also affect the market dynamics indirectly, through the changes in players' behaviors. Assuming rational players, an optimal bidding strategy for constructing the supply function (SF) of a generating firm is presented and based on that, the dynamics of the bid replicators are studied. Both fixed demands and price sensitive demands are taken into account. The replicator model is presented in the well-known state space structure. A case study is presented to show the applicability of the developed dynamic replicator bid model, and also to show how the Nash-SFE equilibrium evolves over time. (author)

  14. An econometric model of the South African stock market

    Directory of Open Access Journals (Sweden)

    E Moolman

    2015-01-01

    Full Text Available A wealth of literature exists concerning the modelling of stock markets, as well as the examination of the relationshiop between share price and various economic factors, both theoretically and empirically.  However, most studies use data for developed countries in their analyses, while the literature moselling emerging stock markets in general, and the south African stock market in particular, is quite sparse.  This study develops a structural theoretically founded model of the South African stock market that is estimated using co-integration and error-correction techniques. These techniques respectively estimate the long-term equilibrium or intrinsic value of the stock market, and the short-term fluctuations around the quilibrium level. According to the results, share prices are co-integrated with the variables dictated by the expected present value model of asset price determination.  The short-term fluctuations are determined by various factors such as interest rates, a risk premium, the exchange rate, foreign stock market adn other variables.

  15. Theory and model use in social marketing health interventions.

    Science.gov (United States)

    Luca, Nadina Raluca; Suggs, L Suzanne

    2013-01-01

    The existing literature suggests that theories and models can serve as valuable frameworks for the design and evaluation of health interventions. However, evidence on the use of theories and models in social marketing interventions is sparse. The purpose of this systematic review is to identify to what extent papers about social marketing health interventions report using theory, which theories are most commonly used, and how theory was used. A systematic search was conducted for articles that reported social marketing interventions for the prevention or management of cancer, diabetes, heart disease, HIV, STDs, and tobacco use, and behaviors related to reproductive health, physical activity, nutrition, and smoking cessation. Articles were published in English, after 1990, reported an evaluation, and met the 6 social marketing benchmarks criteria (behavior change, consumer research, segmentation and targeting, exchange, competition and marketing mix). Twenty-four articles, describing 17 interventions, met the inclusion criteria. Of these 17 interventions, 8 reported using theory and 7 stated how it was used. The transtheoretical model/stages of change was used more often than other theories. Findings highlight an ongoing lack of use or underreporting of the use of theory in social marketing campaigns and reinforce the call to action for applying and reporting theory to guide and evaluate interventions.

  16. The modelling of education services and labour markets from marketing position

    Directory of Open Access Journals (Sweden)

    Savchenko Sergii Olegovych

    2015-10-01

    Full Text Available The methodology of decision preparation was created and implemented. It is based on imitational modeling of cooperation between education and labor markets. The constant increasing of information volume, its dependence on external environment state and internal organization was also included into the methodology. The main aim is increasing of effectiveness of the system of higher education institution management.

  17. Multiple commodities in statistical microeconomics: Model and market

    Science.gov (United States)

    Baaquie, Belal E.; Yu, Miao; Du, Xin

    2016-11-01

    A statistical generalization of microeconomics has been made in Baaquie (2013). In Baaquie et al. (2015), the market behavior of single commodities was analyzed and it was shown that market data provides strong support for the statistical microeconomic description of commodity prices. The case of multiple commodities is studied and a parsimonious generalization of the single commodity model is made for the multiple commodities case. Market data shows that the generalization can accurately model the simultaneous correlation functions of up to four commodities. To accurately model five or more commodities, further terms have to be included in the model. This study shows that the statistical microeconomics approach is a comprehensive and complete formulation of microeconomics, and which is independent to the mainstream formulation of microeconomics.

  18. A Two Population Model for the Stock Market Problem

    Science.gov (United States)

    Skiadas, Christos H.

    The development of the last year disaster in the Stock Markets all over the world gave rise to reconsidering the previous models used. It is clear that, even in an organized international or national context, large fluctuations and sudden losses may occur. This paper explores a two populations' model. The populations are conflicting into the same environment (a Stock Market) by following the main rules present, that is mutual interaction between adopters, potential adopters, word-of-mouth communication and of course by taking into consideration the innovation diffusion process. The proposed model has special futures expressed by third order terms providing characteristic stationary points.

  19. Advanced Modeling of Renewable Energy Market Dynamics: May 2006

    Energy Technology Data Exchange (ETDEWEB)

    Evans, M.; Little, R.; Lloyd, K.; Malikov, G.; Passolt, G.; Arent, D.; Swezey, B.; Mosey, G.

    2007-08-01

    This report documents a year-long academic project, presenting selected techniques for analysis of market growth, penetration, and forecasting applicable to renewable energy technologies. Existing mathematical models were modified to incorporate the effects of fiscal policies and were evaluated using available data. The modifications were made based on research and classification of current mathematical models used for predicting market penetration. An analysis of the results was carried out, based on available data. MATLAB versions of existing and new models were developed for research and policy analysis.

  20. A unified world oil market: Regions in physical, economic, geographic, and political space

    International Nuclear Information System (INIS)

    Kaufmann, Robert K.; Banerjee, Shayan

    2014-01-01

    Although there is a general consensus that the market is unified, here we quantify the factors that create regions by analyzing the price relation between 33 crude oils. ADF statistics indicate that 447 of the 528 crude oil pairings cointegrate; 81 do not. The presence/absence of cointegration is analyzed using a logit model. The likelihood that the prices for two crude oils cointegrate depends on their physical characteristics (density and sulfur content), economic factors (country risk for the nation of origin), their geographic location (distance between supply ports), and political factors (OPEC membership). Over the sample period, the technology to refine heavy crude oils penetrates the market, and this reduces the price difference between heavy and light crude oils. The effect of country risk implies that crude oils from high risk nations are not perfect substitutes for crude oils of similar quality from low risk nations. Finally, crude oils from widely separated suppliers are more likely to cointegrate than crude oils from near-by nations, which suggests consumers diversify supply across transportation chokepoints. For this sample, these sources of regionalization add $0.20 per barrel to the $2.86 average price difference between crude oils in the same market. Together, these factors have important implications for the efficacy of policy aimed at reducing dependence on unreliable suppliers and the spill-over effects of holding inventories. - Highlights: • The world oil market is not completely unified. • Regions are defined by differences in API gravity and sulfur content. • Country risk regionalizes the world oil market. • Shipping chokepoints regionalize the world oil market. • Regionalization adds $0.20 to $2.86 price difference between oils in same market

  1. Modeling and control of flexible space structures

    Science.gov (United States)

    Wie, B.; Bryson, A. E., Jr.

    1981-01-01

    The effects of actuator and sensor locations on transfer function zeros are investigated, using uniform bars and beams as generic models of flexible space structures. It is shown how finite element codes may be used directly to calculate transfer function zeros. The impulse response predicted by finite-dimensional models is compared with the exact impulse response predicted by the infinite dimensional models. It is shown that some flexible structures behave as if there were a direct transmission between actuator and sensor (equal numbers of zeros and poles in the transfer function). Finally, natural damping models for a vibrating beam are investigated since natural damping has a strong influence on the appropriate active control logic for a flexible structure.

  2. Thermal energy storage for electricity-driven space heating in a day-ahead electricity market

    DEFF Research Database (Denmark)

    Pensini, Alessandro

    2012-01-01

    Thermal Energy Storage (TES) in a space heating (SH) application was investigated. The study aimed to determine the economic benefits of introducing TES into an electricity-driven SH system under a day-ahead electricity market. The performance of the TES was assessed by comparing the cost...... of electricity in a system with a TES unit to the case where no storage is in use and the entire heat requirement is fulfilled by purchasing electricity according to the actual load. The study had two goals: 1. Determining how the size – in terms of electricity input (Pmax) and energy capacity (Emax...

  3. A revised econometric model of the domestic pallet market

    Science.gov (United States)

    Albert T. Schuler; Walter B. Wallin

    1983-01-01

    The purpose of this revised model is to project estimates of consumption and price of wooden pallets in the short term. This model differs from previous ones developed by Schuler and Wallin (1979 and 1980) in the following respects: The structure of the supply side of the market is more realistically identified (from an economic theory point of view) by including...

  4. The Interval Market Model in Mathematical Finance : Game Theoretic Methods

    NARCIS (Netherlands)

    Bernhard, P.; Engwerda, J.C.; Roorda, B.; Schumacher, J.M.; Kolokoltsov, V.; Saint-Pierre, P.; Aubin, J.P.

    2013-01-01

    Toward the late 1990s, several research groups independently began developing new, related theories in mathematical finance. These theories did away with the standard stochastic geometric diffusion “Samuelson” market model (also known as the Black-Scholes model because it is used in that most famous

  5. Economic modelling of pork production-marketing chains

    NARCIS (Netherlands)

    Ouden, den M.

    1996-01-01

    The research described in this thesis was focused on the development of economic simulation and optimization computer models to support decision making with respect to pork production- marketing chains. The models include three production stages: pig farrowing, pig fattening and pig slaughtering

  6. Parabolic Free Boundary Price Formation Models Under Market Size Fluctuations

    KAUST Repository

    Markowich, Peter A.; Teichmann, Josef; Wolfram, Marie Therese

    2016-01-01

    In this paper we propose an extension of the Lasry-Lions price formation model which includes uctuations of the numbers of buyers and vendors. We analyze the model in the case of deterministic and stochastic market size uctuations and present

  7. Multivariate Markov chain modeling for stock markets

    Science.gov (United States)

    Maskawa, Jun-ichi

    2003-06-01

    We study a multivariate Markov chain model as a stochastic model of the price changes of portfolios in the framework of the mean field approximation. The time series of price changes are coded into the sequences of up and down spins according to their signs. We start with the discussion for small portfolios consisting of two stock issues. The generalization of our model to arbitrary size of portfolio is constructed by a recurrence relation. The resultant form of the joint probability of the stationary state coincides with Gibbs measure assigned to each configuration of spin glass model. Through the analysis of actual portfolios, it has been shown that the synchronization of the direction of the price changes is well described by the model.

  8. Electricity market reforms: Institutional developments, investment dynamics and game modeling

    Science.gov (United States)

    Pineau, Pierre-Olivier

    advanced to support market reforms and an industry view of the actual strategic actions undertaken by important utilities. Legislative changes will be reviewed for different countries with a discussion on the assessment procedures for these reforms. A detailed example of the reform process in the Finnish electricity market is presented. The investment issue will emerge as an interesting challenge to focus on, due to its importance for the market. The second approach is more analytical and develops on the market equilibria that could result from the new structure. A dynamic model of investment for the electricity market is built and applied to the Finnish market. (Abstract shortened by UMI.)

  9. Multi-agent simulation of competitive electricity markets: Autonomous systems cooperation for European market modeling

    DEFF Research Database (Denmark)

    Santos, Gabriel; Pinto, Tiago; Morais, Hugo

    2015-01-01

    The electricity market restructuring, and its worldwide evolution into regional and even continental scales, along with the increasing necessity for an adequate integration of renewable energy sources, is resulting in a rising complexity in power systems operation. Several power system simulators...... have been developed in recent years with the purpose of helping operators, regulators, and involved players to understand and deal with this complex and constantly changing environment. The main contribution of this paper is given by the integration of several electricity market and power system models......, respecting to the reality of different countries. This integration is done through the development of an upper ontology which integrates the essential concepts necessary to interpret all the available information. The continuous development of Multi-Agent System for Competitive Electricity Markets platform...

  10. IS CAPM AN EFFICIENT MODEL? ADVANCED VERSUS EMERGING MARKETS

    Directory of Open Access Journals (Sweden)

    Iulian IHNATOV

    2015-10-01

    Full Text Available CAPM is one of the financial models most widely used by the investors all over the world for analyzing the correlation between risk and return, being considered a milestone in financial literature. However, in recently years it has been criticized for the unrealistic assumptions it is based on and for the fact that the expected returns it forecasts are wrong. The aim of this paper is to test statistically CAPM for a set of shares listed on New York Stock Exchange, Nasdaq, Warsaw Stock Exchange and Bucharest Stock Exchange (developed markets vs. emerging markets and to compare the expected returns resulted from CAPM with the actually returns. Thereby, we intend to verify whether the model is verified for Central and Eastern Europe capital market, mostly dominated by Poland, and whether the Polish and Romanian stock market index may faithfully be represented as market portfolios. Moreover, we intend to make a comparison between the results for Poland and Romania. After carrying out the analysis, the results confirm that the CAPM is statistically verified for all three capital markets, but it fails to correctly forecast the expected returns. This means that the investors can take wrong investments, bringing large loses to them.

  11. A probability space for quantum models

    Science.gov (United States)

    Lemmens, L. F.

    2017-06-01

    A probability space contains a set of outcomes, a collection of events formed by subsets of the set of outcomes and probabilities defined for all events. A reformulation in terms of propositions allows to use the maximum entropy method to assign the probabilities taking some constraints into account. The construction of a probability space for quantum models is determined by the choice of propositions, choosing the constraints and making the probability assignment by the maximum entropy method. This approach shows, how typical quantum distributions such as Maxwell-Boltzmann, Fermi-Dirac and Bose-Einstein are partly related with well-known classical distributions. The relation between the conditional probability density, given some averages as constraints and the appropriate ensemble is elucidated.

  12. Integrated Space Asset Management Database and Modeling

    Science.gov (United States)

    MacLeod, Todd; Gagliano, Larry; Percy, Thomas; Mason, Shane

    2015-01-01

    Effective Space Asset Management is one key to addressing the ever-growing issue of space congestion. It is imperative that agencies around the world have access to data regarding the numerous active assets and pieces of space junk currently tracked in orbit around the Earth. At the center of this issues is the effective management of data of many types related to orbiting objects. As the population of tracked objects grows, so too should the data management structure used to catalog technical specifications, orbital information, and metadata related to those populations. Marshall Space Flight Center's Space Asset Management Database (SAM-D) was implemented in order to effectively catalog a broad set of data related to known objects in space by ingesting information from a variety of database and processing that data into useful technical information. Using the universal NORAD number as a unique identifier, the SAM-D processes two-line element data into orbital characteristics and cross-references this technical data with metadata related to functional status, country of ownership, and application category. The SAM-D began as an Excel spreadsheet and was later upgraded to an Access database. While SAM-D performs its task very well, it is limited by its current platform and is not available outside of the local user base. Further, while modeling and simulation can be powerful tools to exploit the information contained in SAM-D, the current system does not allow proper integration options for combining the data with both legacy and new M&S tools. This paper provides a summary of SAM-D development efforts to date and outlines a proposed data management infrastructure that extends SAM-D to support the larger data sets to be generated. A service-oriented architecture model using an information sharing platform named SIMON will allow it to easily expand to incorporate new capabilities, including advanced analytics, M&S tools, fusion techniques and user interface for

  13. Distributed Generation Market Demand Model (dGen): Documentation

    Energy Technology Data Exchange (ETDEWEB)

    Sigrin, Benjamin [National Renewable Energy Lab. (NREL), Golden, CO (United States); Gleason, Michael [National Renewable Energy Lab. (NREL), Golden, CO (United States); Preus, Robert [National Renewable Energy Lab. (NREL), Golden, CO (United States); Baring-Gould, Ian [National Renewable Energy Lab. (NREL), Golden, CO (United States); Margolis, Robert [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2016-02-01

    The Distributed Generation Market Demand model (dGen) is a geospatially rich, bottom-up, market-penetration model that simulates the potential adoption of distributed energy resources (DERs) for residential, commercial, and industrial entities in the continental United States through 2050. The National Renewable Energy Laboratory (NREL) developed dGen to analyze the key factors that will affect future market demand for distributed solar, wind, storage, and other DER technologies in the United States. The new model builds off, extends, and replaces NREL's SolarDS model (Denholm et al. 2009a), which simulates the market penetration of distributed PV only. Unlike the SolarDS model, dGen can model various DER technologies under one platform--it currently can simulate the adoption of distributed solar (the dSolar module) and distributed wind (the dWind module) and link with the ReEDS capacity expansion model (Appendix C). The underlying algorithms and datasets in dGen, which improve the representation of customer decision making as well as the spatial resolution of analyses (Figure ES-1), also are improvements over SolarDS.

  14. Model instruments of effective segmentation of the fast food market

    Directory of Open Access Journals (Sweden)

    Mityaeva Tetyana L.

    2013-03-01

    Full Text Available The article presents results of optimisation step-type calculations of economic effectiveness of promotion of fast food with consideration of key parameters of assessment of efficiency of the marketing strategy of segmentation. The article justifies development of a mathematical model on the bases of 3D-presentations and three-dimensional system of management variables. The modern applied mathematical packages allow formation not only of one-dimensional and two-dimensional arrays and analyse links of variables, but also of three-dimensional, besides, the more links and parameters are taken into account, the more adequate and adaptive are results of modelling and, as a result, more informative and strategically valuable. The article shows modelling possibilities that allow taking into account strategies and reactions on formation of the marketing strategy under conditions of entering the fast food market segments.

  15. Models of Customer Behavior as a Basis of Marketing Strategy

    Directory of Open Access Journals (Sweden)

    T A Ivanova

    2012-06-01

    Full Text Available The article is devoted to the analysis of six main models of customer behavior in contemporary society and the specific tasks of marketing departments of companies at today's stage of development. The given models take into consideration: motives for choosing a product, the degree of product awareness and independence of choice, the degree of customer satisfaction with the product, lines and possibilities of making an impact on customer choice through marketing and promotion stimulation. The author believes that these models may serve as a basis in the formation of effective marketing strategies, as they describe the customers in all the stages of their actions in the process of buying products, accumulating and analyzing the experience of using them.

  16. An empirical and model study on automobile market in Taiwan

    Science.gov (United States)

    Tang, Ji-Ying; Qiu, Rong; Zhou, Yueping; He, Da-Ren

    2006-03-01

    We have done an empirical investigation on automobile market in Taiwan including the development of the possession rate of the companies in the market from 1979 to 2003, the development of the largest possession rate, and so on. A dynamic model for describing the competition between the companies is suggested based on the empirical study. In the model each company is given a long-term competition factor (such as technology, capital and scale) and a short-term competition factor (such as management, service and advertisement). Then the companies play games in order to obtain more possession rate in the market under certain rules. Numerical simulation based on the model display a competition developing process, which qualitatively and quantitatively agree with our empirical investigation results.

  17. Comparison of two uranium-market forecasting models

    International Nuclear Information System (INIS)

    Bleistein, S.; Recek, J.

    1983-01-01

    The techniques and methodologies, similarities and differences, and the results of two uranium market computer models - the Uranium Supply Analysis System and the EUREKA model - are surveyed. These models can be of use to electric utilities in developing procurement strategies or planning new reactor requirements. The models are designed to simulate actual market performance of the domestic uranium industry under varying user-specified assumptions. These models provide output in the form of projections of variables of interest, such as investment in exploration and new production capacity, additions to reserves and resources, and adjustments in inventories. Comparison between the models is demonstrative of how output can vary even with use of the same input data. Utilities may profit by the comparison with respect to the task of selecting models on the basis of obtaining the most-useful solution for a given problem. 18 figures

  18. Investigating Effective Components of Higher Education Marketing and Providing a Marketing Model for Iranian Private Higher Education Institutions

    Science.gov (United States)

    Kasmaee, Roya Babaee; Nadi, Mohammad Ali; Shahtalebi, Badri

    2016-01-01

    Purpose: The purpose of this paper is to study and identify the effective components of higher education marketing and providing a marketing model for Iranian higher education private sector institutions. Design/methodology/approach: This study is a qualitative research. For identifying the effective components of higher education marketing and…

  19. Multivariable Wind Modeling in State Space

    DEFF Research Database (Denmark)

    Sichani, Mahdi Teimouri; Pedersen, B. J.

    2011-01-01

    Turbulence of the incoming wind field is of paramount importance to the dynamic response of wind turbines. Hence reliable stochastic models of the turbulence should be available from which time series can be generated for dynamic response and structural safety analysis. In the paper an empirical...... for the vector turbulence process incorporating its phase spectrum in one stage, and its results are compared with a conventional ARMA modeling method....... the succeeding state space and ARMA modeling of the turbulence rely on the positive definiteness of the cross-spectral density matrix, the problem with the non-positive definiteness of such matrices is at first addressed and suitable treatments regarding it are proposed. From the adjusted positive definite cross...

  20. A probabilistic model of RNA conformational space

    DEFF Research Database (Denmark)

    Frellsen, Jes; Moltke, Ida; Thiim, Martin

    2009-01-01

    efficient sampling of RNA conformations in continuous space, and with associated probabilities. We show that the model captures several key features of RNA structure, such as its rotameric nature and the distribution of the helix lengths. Furthermore, the model readily generates native-like 3-D......, the discrete nature of the fragments necessitates the use of carefully tuned, unphysical energy functions, and their non-probabilistic nature impairs unbiased sampling. We offer a solution to the sampling problem that removes these important limitations: a probabilistic model of RNA structure that allows......The increasing importance of non-coding RNA in biology and medicine has led to a growing interest in the problem of RNA 3-D structure prediction. As is the case for proteins, RNA 3-D structure prediction methods require two key ingredients: an accurate energy function and a conformational sampling...

  1. Numerical Modeling of Ophthalmic Response to Space

    Science.gov (United States)

    Nelson, E. S.; Myers, J. G.; Mulugeta, L.; Vera, J.; Raykin, J.; Feola, A.; Gleason, R.; Samuels, B.; Ethier, C. R.

    2015-01-01

    To investigate ophthalmic changes in spaceflight, we would like to predict the impact of blood dysregulation and elevated intracranial pressure (ICP) on Intraocular Pressure (IOP). Unlike other physiological systems, there are very few lumped parameter models of the eye. The eye model described here is novel in its inclusion of the human choroid and retrobulbar subarachnoid space (rSAS), which are key elements in investigating the impact of increased ICP and ocular blood volume. Some ingenuity was required in modeling the blood and rSAS compartments due to the lack of quantitative data on essential hydrodynamic quantities, such as net choroidal volume and blood flowrate, inlet and exit pressures, and material properties, such as compliances between compartments.

  2. DEVELOPING A SEVEN METAPHORS MODEL OF MARKETING FOR UNIVERSITIES

    Directory of Open Access Journals (Sweden)

    COITA Dorin-Cristian

    2014-12-01

    Full Text Available The concept of marketing applied in education offers a lot of possibilities of social innovation. It is a tool helping educational organization to acquire resources and to provide value. In this article presented a model of seven metaphors to be used by a universities in order to acquire resources and to provide value to its stakeholders and applied it in the case of a Romanian university called The University. The aim of the paper is to identify sources of social innovations by using this model in the field of educational marketing.

  3. A stochastic MILP energy planning model incorporating power market dynamics

    International Nuclear Information System (INIS)

    Koltsaklis, Nikolaos E.; Nazos, Konstantinos

    2017-01-01

    Highlights: •Stochastic MILP model for the optimal energy planning of a power system. •Power market dynamics (offers/bids) are incorporated in the proposed model. •Monte Carlo method for capturing the uncertainty of some key parameters. •Analytical supply cost composition per power producer and activity. •Clean dark and spark spreads are calculated for each power unit. -- Abstract: This paper presents an optimization-based methodological approach to address the problem of the optimal planning of a power system at an annual level in competitive and uncertain power markets. More specifically, a stochastic mixed integer linear programming model (MILP) has been developed, combining advanced optimization techniques with Monte Carlo method in order to deal with uncertainty issues. The main focus of the proposed framework is the dynamic formulation of the strategy followed by all market participants in volatile market conditions, as well as detailed economic assessment of the power system’s operation. The applicability of the proposed approach has been tested on a real case study of the interconnected Greek power system, quantifying in detail all the relevant technical and economic aspects of the system’s operation. The proposed work identifies in the form of probability distributions the optimal power generation mix, electricity trade at a regional level, carbon footprint, as well as detailed total supply cost composition, according to the assumed market structure. The paper demonstrates that the proposed optimization approach is able to provide important insights into the appropriate energy strategies designed by market participants, as well as on the strategic long-term decisions to be made by investors and/or policy makers at a national and/or regional level, underscoring potential risks and providing appropriate price signals on critical energy projects under real market operating conditions.

  4. A discrete-space urban model with environmental amenities

    Science.gov (United States)

    Liaila Tajibaeva; Robert G. Haight; Stephen Polasky

    2008-01-01

    This paper analyzes the effects of providing environmental amenities associated with open space in a discrete-space urban model and characterizes optimal provision of open space across a metropolitan area. The discrete-space model assumes distinct neighborhoods in which developable land is homogeneous within a neighborhood but heterogeneous across neighborhoods. Open...

  5. The wood pellet market in Austria: A structural market model analysis

    International Nuclear Information System (INIS)

    Kristöfel, Christa; Strasser, Christoph; Schmid, Erwin; Morawetz, Ulrich B.

    2016-01-01

    EU bioenergy policies and oil price hikes have resulted in a significant increase of installed pellet boilers for residential heating. Hence, European demand for wood pellets has been growing faster and more steadily than supply leading to rising market prices in recent years. This article presents an econometric analysis of demand and supply of wood pellets in the residential heating sector in Austria, one of the most dynamic markets for residential pellets. Annual and monthly time series data between 2000 and 2014 are used in a two-stage least-squares (2SLS) regression to estimate supply and demand elasticities of wood pellets. In all model specifications, pellets demand is found to be inelastic (from −0.66 to −0.76) and pellets supply unit-elastic (from 1.03 to 1.18). Thus, consumers are highly exposed to price changes resulting from supply shocks. Policies which support investments in pellet boilers will shift the demand of wood pellets and likely leading to higher prices for consumers. - Highlights: • Characterisation of the European pellet market. • A structural market model for wood pellets in Austria. • Estimation of supply and demand price elasticities using a two-stage least-squares (2SLS) regression. • Pellets demand is found to be inelastic and pellets supply unit-elastic in the short run. • Policies stimulating demand will likely increase pellet and sawmill by-product prices.

  6. Space Biology Model Organism Research on the Deep Space Gateway to Pioneer Discovery and Advance Human Space Exploration

    Science.gov (United States)

    Sato, K. Y.; Tomko, D. L.; Levine, H. G.; Quincy, C. D.; Rayl, N. A.; Sowa, M. B.; Taylor, E. M.; Sun, S. C.; Kundrot, C. E.

    2018-02-01

    Model organisms are foundational for conducting physiological and systems biology research to define how life responds to the deep space environment. The organisms, areas of research, and Deep Space Gateway capabilities needed will be presented.

  7. The cultural economics of performance space: Negotiating fan, labor, and marketing practice in Glee's transmedia geography

    Directory of Open Access Journals (Sweden)

    Matthias Stork

    2014-03-01

    Full Text Available The Fox television show Glee (2009–present constitutes a cultural phenomenon of the digital age. Through its multiplatform marketing of musical and theatrical performance, the show has attracted a substantial fan base and created a self-sustaining economy of cultural expression. As a serialized narrative with a focus on the underdog's struggle for fame, it constructs a populist forum for fans to live their dream of becoming a star vicariously and learn how to realize it in real life—how to make it. Glee's marketing approach postulates performance as the essential element in forming an intimate relationship between the show and its core fans, the Gleeks. Performances are distributed across several spaces, including a multitude of video and audio channels, to satisfy Gleeks' desire for maximum content. The show's cast and crew further offer to discuss these performances and grant special insights into their creation. Glee's promotional discourse overtly characterizes fans as equals, positioning its programming as a gift to them. The overarching message of this marketing methodology is that Glee rewards its fans for their investment and loyalty by offering up content and interaction in a variety of performative spaces—a transmedia geography—that transcend television. By using an interdisciplinary framework of political economy, cultural geography, and transmedia communications, Glee may be examined in relation to its diegetic and nondiegetic conceptualization and commodification of performance space. Doing this illuminates how the show negotiates—indeed exploits—the concepts of fan and labor practice in contemporary media industries.

  8. Modeling of market segmentation for new IT product development

    Science.gov (United States)

    Nasiopoulos, Dimitrios K.; Sakas, Damianos P.; Vlachos, D. S.; Mavrogianni, Amanda

    2015-02-01

    Businesses from all Information Technology sectors use market segmentation[1] in their product development[2] and strategic planning[3]. Many studies have concluded that market segmentation is considered as the norm of modern marketing. With the rapid development of technology, customer needs are becoming increasingly diverse. These needs can no longer be satisfied by a mass marketing approach and follow one rule. IT Businesses can face with this diversity by pooling customers[4] with similar requirements and buying behavior and strength into segments. The result of the best choices about which segments are the most appropriate to serve can then be made, thus making the best of finite resources. Despite the attention which segmentation gathers and the resources that are invested in it, growing evidence suggests that businesses have problems operationalizing segmentation[5]. These problems take various forms. There may have been a rule that the segmentation process necessarily results in homogeneous groups of customers for whom appropriate marketing programs and procedures for dealing with them can be developed. Then the segmentation process, that a company follows, can fail. This increases concerns about what causes segmentation failure and how it might be overcome. To prevent the failure, we created a dynamic simulation model of market segmentation[6] based on the basic factors leading to this segmentation.

  9. Evolutionary thinking in microeconomic models: prestige bias and market bubbles.

    Directory of Open Access Journals (Sweden)

    Adrian Viliami Bell

    Full Text Available Evolutionary models broadly support a number of social learning strategies likely important in economic behavior. Using a simple model of price dynamics, I show how prestige bias, or copying of famed (and likely successful individuals, influences price equilibria and investor disposition in a way that exacerbates or creates market bubbles. I discuss how integrating the social learning and demographic forces important in cultural evolution with economic models provides a fruitful line of inquiry into real-world behavior.

  10. An autocatalytic network model for stock markets

    Science.gov (United States)

    Caetano, Marco Antonio Leonel; Yoneyama, Takashi

    2015-02-01

    The stock prices of companies with businesses that are closely related within a specific sector of economy might exhibit movement patterns and correlations in their dynamics. The idea in this work is to use the concept of autocatalytic network to model such correlations and patterns in the trends exhibited by the expected returns. The trends are expressed in terms of positive or negative returns within each fixed time interval. The time series derived from these trends is then used to represent the movement patterns by a probabilistic boolean network with transitions modeled as an autocatalytic network. The proposed method might be of value in short term forecasting and identification of dependencies. The method is illustrated with a case study based on four stocks of companies in the field of natural resource and technology.

  11. A quantum anharmonic oscillator model for the stock market

    Science.gov (United States)

    Gao, Tingting; Chen, Yu

    2017-02-01

    A financially interpretable quantum model is proposed to study the probability distributions of the stock price return. The dynamics of a quantum particle is considered an analog of the motion of stock price. Then the probability distributions of price return can be computed from the wave functions that evolve according to Schrodinger equation. Instead of a harmonic oscillator in previous studies, a quantum anharmonic oscillator is applied to the stock in liquid market. The leptokurtic distributions of price return can be reproduced by our quantum model with the introduction of mixed-state and multi-potential. The trend following dominant market, in which the price return follows a bimodal distribution, is discussed as a specific case of the illiquid market.

  12. An Agent-Based Computational Model for China’s Stock Market and Stock Index Futures Market

    Directory of Open Access Journals (Sweden)

    Hai-Chuan Xu

    2014-01-01

    Full Text Available This study presents an agent-based computational cross market model for Chinese equity market structure, which includes both stocks and CSI 300 index futures. In this model, we design several stocks and one index future to simulate this structure. This model allows heterogeneous investors to make investment decisions with restrictions including wealth, market trading mechanism, and risk management. Investors’ demands and order submissions are endogenously determined. Our model successfully reproduces several key features of the Chinese financial markets including spot-futures basis distribution, bid-ask spread distribution, volatility clustering, and long memory in absolute returns. Our model can be applied in cross market risk control, market mechanism design, and arbitrage strategies analysis.

  13. Integrated Space Asset Management Database and Modeling

    Science.gov (United States)

    Gagliano, L.; MacLeod, T.; Mason, S.; Percy, T.; Prescott, J.

    The Space Asset Management Database (SAM-D) was implemented in order to effectively track known objects in space by ingesting information from a variety of databases and performing calculations to determine the expected position of the object at a specified time. While SAM-D performs this task very well, it is limited by technology and is not available outside of the local user base. Modeling and simulation can be powerful tools to exploit the information contained in SAM-D. However, the current system does not allow proper integration options for combining the data with both legacy and new M&S tools. A more capable data management infrastructure would extend SAM-D to support the larger data sets to be generated by the COI. A service-oriented architecture model will allow it to easily expand to incorporate new capabilities, including advanced analytics, M&S tools, fusion techniques and user interface for visualizations. Based on a web-centric approach, the entire COI will be able to access the data and related analytics. In addition, tight control of information sharing policy will increase confidence in the system, which would encourage industry partners to provide commercial data. SIMON is a Government off the Shelf information sharing platform in use throughout DoD and DHS information sharing and situation awareness communities. SIMON providing fine grained control to data owners allowing them to determine exactly how and when their data is shared. SIMON supports a micro-service approach to system development, meaning M&S and analytic services can be easily built or adapted. It is uniquely positioned to fill this need as an information-sharing platform with a proven track record of successful situational awareness system deployments. Combined with the integration of new and legacy M&S tools, a SIMON-based architecture will provide a robust SA environment for the NASA SA COI that can be extended and expanded indefinitely. First Results of Coherent Uplink from a

  14. Model-Based Trade Space Exploration for Near-Earth Space Missions

    Science.gov (United States)

    Cohen, Ronald H.; Boncyk, Wayne; Brutocao, James; Beveridge, Iain

    2005-01-01

    We developed a capability for model-based trade space exploration to be used in the conceptual design of Earth-orbiting space missions. We have created a set of reusable software components to model various subsystems and aspects of space missions. Several example mission models were created to test the tools and process. This technique and toolset has demonstrated itself to be valuable for space mission architectural design.

  15. Space Surveillance Network and Analysis Model (SSNAM) Performance Improvements

    National Research Council Canada - National Science Library

    Butkus, Albert; Roe, Kevin; Mitchell, Barbara L; Payne, Timothy

    2007-01-01

    ... capacity by sensor, models for sensors yet to be created, user defined weather conditions, National Aeronautical and Space Administration catalog growth model including space debris, and solar flux just to name a few...

  16. Marketing.

    Science.gov (United States)

    Chambers, David W

    2010-01-01

    There is not enough marketing of dentistry; but there certainly is too much selling of poor quality service that is being passed off as dentistry. The marketing concept makes the patient and the patients' needs the ultimate criteria of marketing efforts. Myths and good practices for effective marketing that will promote oral health are described under the traditional four "Ps" categories of "product" (best dental care), "place" (availability), "promotion" (advertising and other forms of making patients aware of available services and how to use them), and "price" (the total cost to patients of receiving care).

  17. Modeling Market Shares of Competing (e)Care Providers

    Science.gov (United States)

    van Ooteghem, Jan; Tesch, Tom; Verbrugge, Sofie; Ackaert, Ann; Colle, Didier; Pickavet, Mario; Demeester, Piet

    In order to address the increasing costs of providing care to the growing group of elderly, efficiency gains through eCare solutions seem an obvious solution. Unfortunately not many techno-economic business models to evaluate the return of these investments are available. The construction of a business case for care for the elderly as they move through different levels of dependency and the effect of introducing an eCare service, is the intended application of the model. The simulation model presented in this paper allows for modeling evolution of market shares of competing care providers. Four tiers are defined, based on the dependency level of the elderly, for which the market shares are determined. The model takes into account available capacity of the different care providers, in- and outflow distribution between tiers and churn between providers within tiers.

  18. Modeling Physarum space exploration using memristors

    International Nuclear Information System (INIS)

    Ntinas, V; Sirakoulis, G Ch; Vourkas, I; Adamatzky, A I

    2017-01-01

    Slime mold Physarum polycephalum optimizes its foraging behaviour by minimizing the distances between the sources of nutrients it spans. When two sources of nutrients are present, the slime mold connects the sources, with its protoplasmic tubes, along the shortest path. We present a two-dimensional mesh grid memristor based model as an approach to emulate Physarum’s foraging strategy, which includes space exploration and reinforcement of the optimally formed interconnection network in the presence of multiple aliment sources. The proposed algorithmic approach utilizes memristors and LC contours and is tested in two of the most popular computational challenges for Physarum, namely maze and transportation networks. Furthermore, the presented model is enriched with the notion of noise presence, which positively contributes to a collective behavior and enables us to move from deterministic to robust results. Consequently, the corresponding simulation results manage to reproduce, in a much better qualitative way, the expected transportation networks. (paper)

  19. A novel approach for modeling deregulated electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Rubin, Ofir D., E-mail: rubino@agri.huji.ac.i [Department of Agricultural Economics and Management, Hebrew University of Jerusalem, P.O. Box 12, Rehovot 76100 (Israel); Babcock, Bruce A., E-mail: babcock@iastate.ed [Department of Economics, Iowa State University, 578F Heady Hall, Ames, IA 50011-1070 (United States); Center for Agricultural and Rural Development (CARD), Iowa State University, Ames, IA 50011-1070 (United States)

    2011-05-15

    The theoretical framework developed in this study allows development of a model of deregulated electricity markets that explains two familiar empirical findings; the existence of forward premiums and price-cost markups in the spot market. This is a significant contribution because electricity forward premiums have been previously explained exclusively by the assumptions of perfect competition and risk-averse behavior while spot markups are generally the outcome of a body of literature assuming oligopolistic competition. Our theoretical framework indicates that a certain premium for forward contracting is required for efficient allocation of generation capacity. However, due to the uniqueness of electricity and the design of deregulated electricity markets this premium might be substantially higher than its optimal level. - Research highlights: {yields} The state of knowledge regarding modeling electricity markets is incomplete. {yields} Electricity forward premiums are not necessarily driven by risk aversion. {yields} Efficiency in production requires a certain premium for forward contracting. {yields} It is likely that market premiums are substantially higher than their optimal level. {yields} Policy regulation should not seek to eliminate forward premium entirely.

  20. A novel approach for modeling deregulated electricity markets

    International Nuclear Information System (INIS)

    Rubin, Ofir D.; Babcock, Bruce A.

    2011-01-01

    The theoretical framework developed in this study allows development of a model of deregulated electricity markets that explains two familiar empirical findings; the existence of forward premiums and price-cost markups in the spot market. This is a significant contribution because electricity forward premiums have been previously explained exclusively by the assumptions of perfect competition and risk-averse behavior while spot markups are generally the outcome of a body of literature assuming oligopolistic competition. Our theoretical framework indicates that a certain premium for forward contracting is required for efficient allocation of generation capacity. However, due to the uniqueness of electricity and the design of deregulated electricity markets this premium might be substantially higher than its optimal level. - Research highlights: → The state of knowledge regarding modeling electricity markets is incomplete. → Electricity forward premiums are not necessarily driven by risk aversion. → Efficiency in production requires a certain premium for forward contracting. → It is likely that market premiums are substantially higher than their optimal level. → Policy regulation should not seek to eliminate forward premium entirely.

  1. Space weather: Modeling and forecasting ionospheric

    International Nuclear Information System (INIS)

    Calzadilla Mendez, A.

    2008-01-01

    Full text: Space weather is the set of phenomena and interactions that take place in the interplanetary medium. It is regulated primarily by the activity originating in the Sun and affects both the artificial satellites that are outside of the protective cover of the Earth's atmosphere as the rest of the planets in the solar system. Among the phenomena that are of great relevance and impact on Earth are the auroras and geomagnetic storms , these are a direct result of irregularities in the flow of the solar wind and the interplanetary magnetic field . Given the high complexity of the physical phenomena involved (magnetic reconnection , particle inlet and ionizing radiation to the atmosphere) one of the great scientific challenges today is to forecast the state of plasmatic means either the interplanetary medium , the magnetosphere and ionosphere , for their importance to the development of various human activities such as radio , global positioning , navigation, etc. . It briefly address some of the international ionospheric modeling methods and contributions and participation that currently has the space group of the Institute of Geophysics Geophysics and Astronomy (IGA) in these activities of modeling and forecasting ionospheric. (author)

  2. Space Weather Models at the CCMC And Their Capabilities

    Science.gov (United States)

    Hesse, Michael; Rastatter, Lutz; MacNeice, Peter; Kuznetsova, Masha

    2007-01-01

    The Community Coordinated Modeling Center (CCMC) is a US inter-agency activity aiming at research in support of the generation of advanced space weather models. As one of its main functions, the CCMC provides to researchers the use of space science models, even if they are not model owners themselves. The second focus of CCMC activities is on validation and verification of space weather models, and on the transition of appropriate models to space weather forecast centers. As part of the latter activity, the CCMC develops real-time simulation systems that stress models through routine execution. A by-product of these real-time calculations is the ability to derive model products, which may be useful for space weather operators. In this presentation, we will provide an overview of the community-provided, space weather-relevant, model suite, which resides at CCMC. We will discuss current capabilities, and analyze expected future developments of space weather related modeling.

  3. Models and Practice of Retail Location on the Romanian Market

    Directory of Open Access Journals (Sweden)

    Gerard Cazabat,

    2017-05-01

    Full Text Available This paper makes a review of the main types of location, respectively of probability models, gravity models, utility models, location- allocation, but also of new spatial analysis instruments. In this context, we emphasize the fact that the new location models, based on a geographic information system and the Big Data analysis instruments, open new opportunities for the practical location decision based on a larger set of criteria and by taking the market dynamics into account. The paper has the following objectives: to study the theoretical basis of location models, i.e. of the criteria (the variables used and to compare them with the criteria used currently in decision-making practice. The study is based on qualitative research investigating the opinions of decision -makers in the area of distribution regarding the location strategy of new stores. The research findings confirm the existence of differences between the criteria retained by location models and the practice of distribution companies on the Romanian market. This type of approach – models and practices of location for distribution companies – is a novelty for the Romanian market. The study can be useful both for research (perfecting the location models vis-a-vis present-day evolutions of the business environment, as well as for the decision makers in distribution (the valorization of research findings in decisionmaking practice.

  4. International Space Station Model Correlation Analysis

    Science.gov (United States)

    Laible, Michael R.; Fitzpatrick, Kristin; Hodge, Jennifer; Grygier, Michael

    2018-01-01

    This paper summarizes the on-orbit structural dynamic data and the related modal analysis, model validation and correlation performed for the International Space Station (ISS) configuration ISS Stage ULF7, 2015 Dedicated Thruster Firing (DTF). The objective of this analysis is to validate and correlate the analytical models used to calculate the ISS internal dynamic loads and compare the 2015 DTF with previous tests. During the ISS configurations under consideration, on-orbit dynamic measurements were collected using the three main ISS instrumentation systems; Internal Wireless Instrumentation System (IWIS), External Wireless Instrumentation System (EWIS) and the Structural Dynamic Measurement System (SDMS). The measurements were recorded during several nominal on-orbit DTF tests on August 18, 2015. Experimental modal analyses were performed on the measured data to extract modal parameters including frequency, damping, and mode shape information. Correlation and comparisons between test and analytical frequencies and mode shapes were performed to assess the accuracy of the analytical models for the configurations under consideration. These mode shapes were also compared to earlier tests. Based on the frequency comparisons, the accuracy of the mathematical models is assessed and model refinement recommendations are given. In particular, results of the first fundamental mode will be discussed, nonlinear results will be shown, and accelerometer placement will be assessed.

  5. Herding, minority game, market clearing and efficient markets in a simple spin model framework

    Czech Academy of Sciences Publication Activity Database

    Krištoufek, Ladislav; Vošvrda, Miloslav

    2017-01-01

    Roč. 54, č. 1 (2017), s. 148-155 ISSN 1007-5704 R&D Projects: GA ČR(CZ) GBP402/12/G097 EU Projects: European Commission(XE) 612955 - FINMAP Institutional support: RVO:67985556 Keywords : Ising model * Efficient market hypothesis * Monte Carlo simulation Subject RIV: AH - Economics OBOR OECD: Applied Economics, Econometrics Impact factor: 2.784, year: 2016 http://library.utia.cas.cz/separaty/2017/E/kristoufek-0474986.pdf

  6. An econometric model of the U.S. pallet market

    Science.gov (United States)

    Albert T. Schuler; Walter B. Wallin

    1979-01-01

    A need for quantitative information on demand and price has been expressed by the pallet industry. In response to this, an econometric model of the aggregate U.S. pallet market was developed. Demand was found to be affected by real pallet price, industrial and food production levels, and slipsheet prices. Supply was affected by real price, housing starts lagged 1 year...

  7. A stochastic model for the financial market with discontinuous prices

    Directory of Open Access Journals (Sweden)

    Leda D. Minkova

    1996-01-01

    Full Text Available This paper models some situations occurring in the financial market. The asset prices evolve according to a stochastic integral equation driven by a Gaussian martingale. A portfolio process is constrained in such a way that the wealth process covers some obligation. A solution to a linear stochastic integral equation is obtained in a class of cadlag stochastic processes.

  8. Systemic Modelling for Relating Labour Market to Vocational Education

    Science.gov (United States)

    Papakitsos, Evangelos C.

    2016-01-01

    The present study introduces a systemic model that demonstrates a description of the relationship between the labour-market and vocational education from the perspective of systemic theory. Based on the application of the relevant methodology, the two open social systems are identified and analyzed. Their key-features are presented and the points…

  9. A risk reserve model for hedging in incomplete markets

    NARCIS (Netherlands)

    Minina, V.; Vellekoop, M.

    2010-01-01

    This paper presents a new approach to the pricing and hedging problem for contingent claims in incomplete markets. We assume that traders wish to maximize the expected final payoff of the hedging portfolio and the claims, and we avoid the use of utility functions. Instead, we model how traders are

  10. Personalized commissioning, public spaces: the limits of the market in English social care services.

    Science.gov (United States)

    Needham, Catherine

    2013-01-01

    The article explores the implications of personal budgets within English social care services, which position the individual as market actor. Rooting the research in the broader personalization agenda, the study looks at the limitations of the market in relation to individual purchase of private goods (e.g. home care), in the pooling of funds to purchase group services and in the provision of public goods such as building-based services. The article takes a multi-method approach, combining an interpretive focus on the framing of the personal budget-holder by advocates of personalization with national evaluation data, and data from a small survey of day centre workers. The article identifies three framings of the individual budget-holder articulated by advocates of personalization. The first is that personal budget-holders will be empowered market actors, commissioning the services they need. The second is that budget-holders will pool resources with others to purchase group services in order to broaden the range of options available to them. The third is that services which cannot be disaggregated into individual or group budgets - such as day centres - are not valued by service users. The article looks at the evaluation data on these three claims in turn. It identifies four limitations to the capacity of people to purchase care goods on an individual basis: lack of transparency in allocating budgets, complexity in managing a budget, excessive auditing of spending and lack of responsiveness from the provider market. Pooling of budgets to purchase collective services is found to be underdeveloped, and hampered by the complexity which is a broader limitation on personal budgets. Day centres are found to be closing not in response to commissioning decisions by individual budget-holders but because of decommissioning by local authorities, minimising the scope for individuals to express a preference for this type of care. The survey highlights patterns of day centre

  11. System Dynamics Modeling of the Massachusetts SREC Market

    Directory of Open Access Journals (Sweden)

    Wilson Rickerson

    2010-08-01

    Full Text Available As states across the country struggle to increase local development of renewable energy, policymakers are turning to innovative program designs to meet their renewable electricity targets. Massachusetts recently adopted a unique, auction-based price support mechanism for the solar portion of its renewable portfolio standard. During the program development process, the Massachusetts Department of Energy Resources (DOER used system dynamics to simulate potential solar renewable energy certificate market conditions under the proposed regulations. The modeling exercise resulted in several program design changes that will lead to a more stable certificate market. System dynamics can be a useful tool for developing and improving sustainability programs.

  12. Equation-based model for the stock market.

    Science.gov (United States)

    Xavier, Paloma O C; Atman, A P F; de Magalhães, A R Bosco

    2017-09-01

    We propose a stock market model which is investigated in the forms of difference and differential equations whose variables correspond to the demand or supply of each agent and to the price. In the model, agents are driven by the behavior of their trust contact network as well by fundamental analysis. By means of the deterministic version of the model, the connection between such drive mechanisms and the price is analyzed: imitation behavior promotes market instability, finitude of resources is associated to stock index stability, and high sensitivity to the fair price provokes price oscillations. Long-range correlations in the price temporal series and heavy-tailed distribution of returns are observed for the version of the model which considers different proposals for stochasticity of microeconomic and macroeconomic origins.

  13. Market orientation in the mental models of decision-makers

    DEFF Research Database (Denmark)

    Grunert, Klaus G.; Trondsen, Torbjørn; Campos, Emilio Gonzalo

    2010-01-01

    Purpose: This study determines whether predictions about different degrees of market orientation in two cross-border value chains also appear in the mental models of decision makers at two levels of these value chains. Design: The laddering method elicits mental models of actors in two value chains......: Norwegian salmon exported to Japan and Danish pork exported to Japan. The analysis of the mental models centers on potential overlap and linkages between actors in the value chain, including elements in the mental models that may relate to the actors' market orientation. Findings: In both value chains......, decision makers exhibit overlap in their views of what drives their business. The pork chain appears dominated by a focus on efficiency, technology, and quality control, though it also acknowledges communication as important. The salmon chain places more emphasis on new product development and good...

  14. Incorporating Responsiveness to Marketing Efforts in Brand Choice Modeling

    Directory of Open Access Journals (Sweden)

    Dennis Fok

    2014-02-01

    Full Text Available We put forward a brand choice model with unobserved heterogeneity that concerns responsiveness to marketing efforts. We introduce two latent segments of households. The first segment is assumed to respond to marketing efforts, while households in the second segment do not do so. Whether a specific household is a member of the first or the second segment at a specific purchase occasion is described by household-specific characteristics and characteristics concerning buying behavior. Households may switch between the two responsiveness states over time. When comparing the performance of our model with alternative choice models that account for various forms of heterogeneity for three different datasets, we find better face validity for our parameters. Our model also forecasts better.

  15. Equation-based model for the stock market

    Science.gov (United States)

    Xavier, Paloma O. C.; Atman, A. P. F.; de Magalhães, A. R. Bosco

    2017-09-01

    We propose a stock market model which is investigated in the forms of difference and differential equations whose variables correspond to the demand or supply of each agent and to the price. In the model, agents are driven by the behavior of their trust contact network as well by fundamental analysis. By means of the deterministic version of the model, the connection between such drive mechanisms and the price is analyzed: imitation behavior promotes market instability, finitude of resources is associated to stock index stability, and high sensitivity to the fair price provokes price oscillations. Long-range correlations in the price temporal series and heavy-tailed distribution of returns are observed for the version of the model which considers different proposals for stochasticity of microeconomic and macroeconomic origins.

  16. A Dealer Model of Foreign Exchange Market with Finite Assets

    Science.gov (United States)

    Hamano, Tomoya; Kanazawa, Kiyoshi; Takayasu, Hideki; Takayasu, Misako

    An agent-based model is introduced to study the finite-asset effect in foreign exchange markets. We find that the transacted price asymptotically approaches an equilibrium price, which is determined by the monetary balance between the pair of currencies. We phenomenologically derive a formula to estimate the equilibrium price, and we model its relaxation dynamics around the equilibrium price on the basis of a Langevin-like equation.

  17. Parabolic Free Boundary Price Formation Models Under Market Size Fluctuations

    KAUST Repository

    Markowich, Peter A.

    2016-10-04

    In this paper we propose an extension of the Lasry-Lions price formation model which includes uctuations of the numbers of buyers and vendors. We analyze the model in the case of deterministic and stochastic market size uctuations and present results on the long time asymptotic behavior and numerical evidence and conjectures on periodic, almost periodic, and stochastic uctuations. The numerical simulations extend the theoretical statements and give further insights into price formation dynamics.

  18. Multi-Level Marketing as a business model

    Directory of Open Access Journals (Sweden)

    Bogdan Gregor

    2013-03-01

    Full Text Available Multi Level Marketing is a very popular business model in the Western countries. It is a kind of hybrid of the method of distribution of goods and the method of building a sales network. It is one of the safest (carries a very low risk ways of conducting a business activity. The knowledge about functioning of this business model, both among theoreticians (scanty literature on the subject and practitioners, is still insufficient in Poland. Thus, the presented paper has been prepared as — in the Authors' opinion — it, at least infinitesimally, bridges the gap in the recognition of Multi Level Marketing issues. The aim of the study was, first of all, to describe Multi Level Marketing, to indicate practical benefits of this business model as well as to present basic systems of calculating a commission, which are used in marketing plans of companies. The discussion was based on the study of literature and the knowledge gained in the course of free-form interviews with the leaders of the sector.

  19. A multidirectional communication model: implications for social marketing practice.

    Science.gov (United States)

    Thackeray, Rosemary; Neiger, Brad L

    2009-04-01

    The landscape of sending and receiving information has changed dramatically in the past 25 years. The communication process is changing from being unidirectional to multidirectional as consumers are becoming active participants by creating, seeking, and sharing information using a variety of channels and devices. The purpose of this article is to describe how this shift in the communication process- where gatekeepers control the creation and content of information and consumers are less active recipients to one that reflects a multidirectional and more dynamic process with participative consumers-will affect the social marketing process. This shift in communication does not represent an option for social marketers so much as a necessity. As professionals respond to this evolving communication model, the practice of social marketing can remain vibrant as a relevant consumer-oriented approach to behavior change.

  20. MODELLING THE INFLUENCE OF ONLINE MARKETING COMMUNICATION ON BEHAVIOURAL INTENTIONS

    Directory of Open Access Journals (Sweden)

    Alexandra PERJU-MITRAN

    2014-12-01

    Full Text Available The present study addresses the manners in which potential consumers react to and examine online marketing communication efforts, and how their perceptions influence various decisions. By drawing from theories of consumer behaviour, several variables are taken into consideration, a model designed to integrate existing theories and a three-way study of online user behaviour in response to online marketing messages is defined and tested. The results of the study demonstrate that there are direct and positive links between the manner in which users perceive online marketing communication efforts, and direct and positive links between users’ attitudes towards online communication and their intention to either further inform themselves, forward the information obtained, or even become loyal to the company.

  1. Modeling Commercial Freshwater Turtle Production on US Farms for Pet and Meat Markets.

    Science.gov (United States)

    Mali, Ivana; Wang, Hsiao-Hsuan; Grant, William E; Feldman, Mark; Forstner, Michael R J

    2015-01-01

    Freshwater turtles are being exploited for meat, eggs, traditional medicine, and pet trade. As a response, turtle farming became a booming aquaculture industry in the past two decades, specifically in the southeastern states of the United States of America (US) and across Southeast Asia. However, US turtle farms are currently producing turtles only for the pet trade while commercial trappers remain focused on catching the largest individuals from the wild. In our analyses we have created a biological and economic model that describes farming operations on a representative turtle farm in Louisiana. We first modeled current production of hatchling and yearling red-eared slider turtles (Trachemys scripta elegans) (i.e., traditional farming) for foreign and domestic pet markets, respectively. We tested the possibility of harvesting adult turtles from the breeding stock for sale to meat markets to enable alternative markets for the farmers, while decreasing the continued pressures on wild populations (i.e., non-traditional farming). Our economic model required current profit requirements of ~$13/turtle or ~$20.31/kg of meat from non-traditional farming in order to acquire the same profit as traditional farming, a value which currently exceeds market values of red-eared sliders. However, increasing competition with Asian turtle farms and decreasing hatchling prices may force the shift in the US toward producing turtles for meat markets. In addition, our model can be modified and applied to more desirable species on the meat market once more knowledge is acquired about species life histories and space requirements under farmed conditions.

  2. Modeling Commercial Freshwater Turtle Production on US Farms for Pet and Meat Markets.

    Directory of Open Access Journals (Sweden)

    Ivana Mali

    Full Text Available Freshwater turtles are being exploited for meat, eggs, traditional medicine, and pet trade. As a response, turtle farming became a booming aquaculture industry in the past two decades, specifically in the southeastern states of the United States of America (US and across Southeast Asia. However, US turtle farms are currently producing turtles only for the pet trade while commercial trappers remain focused on catching the largest individuals from the wild. In our analyses we have created a biological and economic model that describes farming operations on a representative turtle farm in Louisiana. We first modeled current production of hatchling and yearling red-eared slider turtles (Trachemys scripta elegans (i.e., traditional farming for foreign and domestic pet markets, respectively. We tested the possibility of harvesting adult turtles from the breeding stock for sale to meat markets to enable alternative markets for the farmers, while decreasing the continued pressures on wild populations (i.e., non-traditional farming. Our economic model required current profit requirements of ~$13/turtle or ~$20.31/kg of meat from non-traditional farming in order to acquire the same profit as traditional farming, a value which currently exceeds market values of red-eared sliders. However, increasing competition with Asian turtle farms and decreasing hatchling prices may force the shift in the US toward producing turtles for meat markets. In addition, our model can be modified and applied to more desirable species on the meat market once more knowledge is acquired about species life histories and space requirements under farmed conditions.

  3. Modeling Commercial Freshwater Turtle Production on US Farms for Pet and Meat Markets

    Science.gov (United States)

    Mali, Ivana; Wang, Hsiao-Hsuan; Grant, William E.; Feldman, Mark; Forstner, Michael R. J.

    2015-01-01

    Freshwater turtles are being exploited for meat, eggs, traditional medicine, and pet trade. As a response, turtle farming became a booming aquaculture industry in the past two decades, specifically in the southeastern states of the United States of America (US) and across Southeast Asia. However, US turtle farms are currently producing turtles only for the pet trade while commercial trappers remain focused on catching the largest individuals from the wild. In our analyses we have created a biological and economic model that describes farming operations on a representative turtle farm in Louisiana. We first modeled current production of hatchling and yearling red-eared slider turtles (Trachemys scripta elegans) (i.e., traditional farming) for foreign and domestic pet markets, respectively. We tested the possibility of harvesting adult turtles from the breeding stock for sale to meat markets to enable alternative markets for the farmers, while decreasing the continued pressures on wild populations (i.e., non-traditional farming). Our economic model required current profit requirements of ~$13/turtle or ~$20.31/kg of meat from non-traditional farming in order to acquire the same profit as traditional farming, a value which currently exceeds market values of red-eared sliders. However, increasing competition with Asian turtle farms and decreasing hatchling prices may force the shift in the US toward producing turtles for meat markets. In addition, our model can be modified and applied to more desirable species on the meat market once more knowledge is acquired about species life histories and space requirements under farmed conditions. PMID:26407157

  4. Modeling, Analysis, and Optimization Issues for Large Space Structures

    Science.gov (United States)

    Pinson, L. D. (Compiler); Amos, A. K. (Compiler); Venkayya, V. B. (Compiler)

    1983-01-01

    Topics concerning the modeling, analysis, and optimization of large space structures are discussed including structure-control interaction, structural and structural dynamics modeling, thermal analysis, testing, and design.

  5. Power market model with energy- and power dimension

    International Nuclear Information System (INIS)

    Johnsen, T.A.; Larsen, B.M.

    1995-01-01

    This report discusses a mathematical model of the Norwegian power market. The year is divided into three seasons. Each season is subdivided into a high-load period and a low-load period according to the demand. High-load occurs in daytime on workdays while low-load occurs at night and on holidays. The model is intended to be a tool for studying variations in prices, production, demand and trade throughout the year in a market of free competition. The model establishes equilibrium prices of electricity in Norway in high-load and low-load periods. Equilibrium prices with added transport tariffs and charges give customer an indication of the cost of using electricity. And the equilibrium prices indicate to the power producers the value of further energy or power capacity. Examples of calculations using the model show that extended export and import between Norway and other countries affect power prices and production in Norway. In the examples, power intensive industry and wood processing are subjected to market prices on energy. World market prices which give unilateral power export in the high-load periods cause the Norwegian power prices to rise strongly. If to the export from Norway in periods of high-load there corresponds import in periods of low-load, then the pressure on the prices in the power market is significantly reduced. A more extensive power exchange implies that foreign power producers may use the Norwegian power system to avoid large variations in their thermal power production. 23 refs., 21 figs., 1 tab

  6. Artificial Neural Network versus Linear Models Forecasting Doha Stock Market

    Science.gov (United States)

    Yousif, Adil; Elfaki, Faiz

    2017-12-01

    The purpose of this study is to determine the instability of Doha stock market and develop forecasting models. Linear time series models are used and compared with a nonlinear Artificial Neural Network (ANN) namely Multilayer Perceptron (MLP) Technique. It aims to establish the best useful model based on daily and monthly data which are collected from Qatar exchange for the period starting from January 2007 to January 2015. Proposed models are for the general index of Qatar stock exchange and also for the usages in other several sectors. With the help of these models, Doha stock market index and other various sectors were predicted. The study was conducted by using various time series techniques to study and analyze data trend in producing appropriate results. After applying several models, such as: Quadratic trend model, double exponential smoothing model, and ARIMA, it was concluded that ARIMA (2,2) was the most suitable linear model for the daily general index. However, ANN model was found to be more accurate than time series models.

  7. Safe space. How you can define fair market value for medical-office building lease agreements with hospitals.

    Science.gov (United States)

    Murray, Chuck

    2007-04-01

    When entering into office-space lease agreements with hospitals, physician practice administrators need to pay close attention to the federal antikick-back statute and the Stark law. Compliance with these regulations calls for adherence to fair market value and commercial reasonableness--blurry terms open to interpretation. This article provides you with a framework for defining fair market value and commercial reasonableness in regard to real-estate transactions with hospitals.

  8. EIA model documentation: Petroleum Market Model of the National Energy Modeling System

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1994-12-30

    The purpose of this report is to define the objectives of the Petroleum Market Model (PMM), describe its basic approach, and provide detail on how it works. This report is intended as a reference document for model analysts, users, and the public. Documentation of the model is in accordance with EIA`s legal obligation to provide adequate documentation in support of its models (Public Law 94-385, section 57.b.2). The PMM models petroleum refining activities, the marketing of products, the production of natural gas liquids and domestic methanol, projects petroleum provides and sources of supplies for meeting demand. In addition, the PMM estimates domestic refinery capacity expansion and fuel consumption.

  9. Model space dimensionalities for multiparticle fermion systems

    International Nuclear Information System (INIS)

    Draayer, J.P.; Valdes, H.T.

    1985-01-01

    A menu driven program for determining the dimensionalities of fixed-(J) [or (J,T)] model spaces built by distributing identical fermions (electrons, neutrons, protons) or two distinguihable fermion types (neutron-proton and isospin formalisms) among any mixture of positive and negative parity spherical orbitals is presented. The algorithm, built around the elementary difference formula d(J)=d(M=J)-d(M=J+1), takes full advantage of M->-M and particle-hole symmetries. A 96 K version of the program suffices for as compilated a case as d[(+1/2, +3/2, + 5/2, + 7/2-11/2)sup(n-26)J=2 + ,T=7]=210,442,716,722 found in the 0hω valence space of 56 126 Ba 70 . The program calculates the total fixed-(Jsup(π)) or fixed-(Jsup(π),T) dimensionality of a model space generated by distributing a specified number of fermions among a set of input positive and negative parity (π) spherical (j) orbitals. The user is queried at each step to select among various options: 1. formalism - identical particle, neutron-proton, isospin; 2. orbits -bumber, +/-2*J of all orbits; 3. limits -minimum/maximum number of particles of each parity; 4. specifics - number of particles, +/-2*J (total), 2*T; 5. continue - same orbit structure, new case quit. Though designed for nuclear applications (jj-coupling), the program can be used in the atomic case (LS-coupling) so long as half integer spin values (j=l+-1/2) are input for the valnce orbitals. Mutiple occurrences of a given j value are properly taken into account. A minor extension provides labelling information for a generalized seniority classification scheme. The program logic is an adaption of methods used in statistical spectroscopy to evaluate configuration averages. Indeed, the need for fixed symmetry leve densities in spectral distribution theory motivated this work. The methods extend to other group structures where there are M-like additive quantum labels. (orig.)

  10. Modeling the time-changing dependence in stock markets

    International Nuclear Information System (INIS)

    Frezza, Massimiliano

    2012-01-01

    The time-changing dependence in stock markets is investigated by assuming the multifractional process with random exponent (MPRE) as model for actual log price dynamics. By modeling its functional parameter S(t, ω) via the square root process (S.R.) a twofold aim is obtained. From one hand both the main financial and statistical properties shown by the estimated S(t) are captured by surrogates, on the other hand this capability reveals able to model the time-changing dependence shown by stocks or indexes. In particular, a new dynamical approach to interpreter market mechanisms is given. Empirical evidences are offered by analysing the behaviour of the daily closing prices of a very known index, the Industrial Average Dow Jones (DJIA), beginning on March,1990 and ending on February, 2005.

  11. Climate Change and Market Collapse: A Model Applied to Darfur

    Directory of Open Access Journals (Sweden)

    Ola Olsson

    2016-03-01

    Full Text Available A recurring argument in the global debate is that climate deterioration is likely to make social conflicts over diminishing natural resources more common in the future. The exact mechanism behind such a development has so far not been successfully characterized in the literature. In this paper, we present a general model of a community populated by farmers and herders who can either divide up land in a market economy or in autarky. The key insight from our model is that decreasing resources can make trade between the two groups collapse, which in turn makes each group’s welfare independent of that of the other. Predictions from the model are then applied to the conflict in Darfur. Our analysis suggests that three decades of drought in the area can at least partially explain the observed disintegration of markets and the subsequent rise of social tensions.

  12. A CcP model of the stock market

    Directory of Open Access Journals (Sweden)

    Shimshon Bichler

    2017-05-01

    Full Text Available Most explanations of stock market booms and busts are based on contrasting the underlying ‘fundamental’ logic of the economy with the exogenous, non-economic factors that presumably distort it. Our paper offers a radically different model, examining the stock market not from the mechanical viewpoint of a distorted economy, but from the dialectical perspective of capitalized power. The model demonstrates that (1 the valuation of equities represents capitalized power; (2 capitalized power is dialectically intertwined with systemic fear; and (3 systemic fear and capitalized power are mediated through strategic sabotage. This triangular model, we posit, can offer a basis for examining the asymptotes, or limits, of capitalized power and the ways in which these asymptotes relate to the historical and ongoing transformation of the capitalist mode of power.

  13. International energy market dynamics: a modelling approach. Tome 1

    International Nuclear Information System (INIS)

    Nachet, S.

    1996-01-01

    This work is an attempt to model international energy market and reproduce the behaviour of both energy demand and supply. Energy demand was represented using sector versus source approach. For developing countries, existing link between economic and energy sectors were analysed. Energy supply is exogenous for energy sources other than oil and natural gas. For hydrocarbons, exploration-production process was modelled and produced figures as production yield, exploration effort index, etc. The model built is econometric and is solved using a software that was constructed for this purpose. We explore the energy market future using three scenarios and obtain projections by 2010 for energy demand per source and oil natural gas supply per region. Economic variables are used to produce different indicators as energy intensity, energy per capita, etc. (author). 378 refs., 26 figs., 35 tabs., 11 appends

  14. International energy market dynamics: a modelling approach. Tome 2

    International Nuclear Information System (INIS)

    Nachet, S.

    1996-01-01

    This work is an attempt to model international energy market and reproduce the behaviour of both energy demand and supply. Energy demand was represented using sector versus source approach. For developing countries, existing link between economic and energy sectors were analysed. Energy supply is exogenous for energy sources other than oil and natural gas. For hydrocarbons, exploration-production process was modelled and produced figures as production yield, exploration effort index, ect. The model build is econometric and is solved using a software that was constructed for this purpose. We explore the energy market future using three scenarios and obtain projections by 2010 for energy demand per source and oil and natural gas supply per region. Economic variables are used to produce different indicators as energy intensity, energy per capita, etc. (author). 378 refs., 26 figs., 35 tabs., 11 appends

  15. Modeling spot markets for electricity and pricing electricity derivatives

    Science.gov (United States)

    Ning, Yumei

    Spot prices for electricity have been very volatile with dramatic price spikes occurring in restructured market. The task of forecasting electricity prices and managing price risk presents a new challenge for market players. The objectives of this dissertation are: (1) to develop a stochastic model of price behavior and predict price spikes; (2) to examine the effect of weather forecasts on forecasted prices; (3) to price electricity options and value generation capacity. The volatile behavior of prices can be represented by a stochastic regime-switching model. In the model, the means of the high-price and low-price regimes and the probabilities of switching from one regime to the other are specified as functions of daily peak load. The probability of switching to the high-price regime is positively related to load, but is still not high enough at the highest loads to predict price spikes accurately. An application of this model shows how the structure of the Pennsylvania-New Jersey-Maryland market changed when market-based offers were allowed, resulting in higher price spikes. An ARIMA model including temperature, seasonal, and weekly effects is estimated to forecast daily peak load. Forecasts of load under different assumptions about weather patterns are used to predict changes of price behavior given the regime-switching model of prices. Results show that the range of temperature forecasts from a normal summer to an extremely warm summer cause relatively small increases in temperature (+1.5%) and load (+3.0%). In contrast, the increases in prices are large (+20%). The conclusion is that the seasonal outlook forecasts provided by NOAA are potentially valuable for predicting prices in electricity markets. The traditional option models, based on Geometric Brownian Motion are not appropriate for electricity prices. An option model using the regime-switching framework is developed to value a European call option. The model includes volatility risk and allows changes

  16. A Multilateral Negotiation Model for Cloud Service Market

    Science.gov (United States)

    Yoo, Dongjin; Sim, Kwang Mong

    Trading cloud services between consumers and providers is a complicated issue of cloud computing. Since a consumer can negotiate with multiple providers to acquire the same service and each provider can receive many requests from multiple consumers, to facilitate the trading of cloud services among multiple consumers and providers, a multilateral negotiation model for cloud market is necessary. The contribution of this work is the proposal of a business model supporting a multilateral price negotiation for trading cloud services. The design of proposed systems for cloud service market includes considering a many-to-many negotiation protocol, and price determining factor from service level feature. Two negotiation strategies are implemented: 1) MDA (Market Driven Agent); and 2) adaptive concession making responding to changes of bargaining position are proposed for cloud service market. Empirical results shows that MDA achieved better performance in some cases that the adaptive concession making strategy, it is noted that unlike the MDA, the adaptive concession making strategy does not assume that an agent has information of the number of competitors (e.g., a consumer agent adopting the adaptive concession making strategy need not know the number of consumer agents competing for the same service).

  17. Predictive market segmentation model: An application of logistic regression model and CHAID procedure

    Directory of Open Access Journals (Sweden)

    Soldić-Aleksić Jasna

    2009-01-01

    Full Text Available Market segmentation presents one of the key concepts of the modern marketing. The main goal of market segmentation is focused on creating groups (segments of customers that have similar characteristics, needs, wishes and/or similar behavior regarding the purchase of concrete product/service. Companies can create specific marketing plan for each of these segments and therefore gain short or long term competitive advantage on the market. Depending on the concrete marketing goal, different segmentation schemes and techniques may be applied. This paper presents a predictive market segmentation model based on the application of logistic regression model and CHAID analysis. The logistic regression model was used for the purpose of variables selection (from the initial pool of eleven variables which are statistically significant for explaining the dependent variable. Selected variables were afterwards included in the CHAID procedure that generated the predictive market segmentation model. The model results are presented on the concrete empirical example in the following form: summary model results, CHAID tree, Gain chart, Index chart, risk and classification tables.

  18. The highly intelligent virtual agents for modeling financial markets

    Science.gov (United States)

    Yang, G.; Chen, Y.; Huang, J. P.

    2016-02-01

    Researchers have borrowed many theories from statistical physics, like ensemble, Ising model, etc., to study complex adaptive systems through agent-based modeling. However, one fundamental difference between entities (such as spins) in physics and micro-units in complex adaptive systems is that the latter are usually with high intelligence, such as investors in financial markets. Although highly intelligent virtual agents are essential for agent-based modeling to play a full role in the study of complex adaptive systems, how to create such agents is still an open question. Hence, we propose three principles for designing high artificial intelligence in financial markets and then build a specific class of agents called iAgents based on these three principles. Finally, we evaluate the intelligence of iAgents through virtual index trading in two different stock markets. For comparison, we also include three other types of agents in this contest, namely, random traders, agents from the wealth game (modified on the famous minority game), and agents from an upgraded wealth game. As a result, iAgents perform the best, which gives a well support for the three principles. This work offers a general framework for the further development of agent-based modeling for various kinds of complex adaptive systems.

  19. Modelling of air-conditioned and heated spaces

    Energy Technology Data Exchange (ETDEWEB)

    Moehl, U

    1987-01-01

    A space represents a complex system involving numerous components, manipulated variables and disturbances which need to be described if dynamic behaviour of space air is to be determined. A justifiable amount of simulation input is determined by the application of adjusted modelling of the individual components. The determination of natural air exchange in heated spaces and of space-air flow in air-conditioned space are a primary source of uncertainties. (orig.).

  20. Application of Markowitz Model on Romanian Stock Market

    Directory of Open Access Journals (Sweden)

    Zavera Ioana Coralia

    2017-04-01

    Full Text Available Performance evaluation of financial instruments has become a concern for more and more economists, while security trading activities have developed over time. “Modern portfolio theory” comprises statistical and mathematical models which describe various ways in order to evaluate and especially analyse profitability and risk of these portfolios. This article offers an application of this type of model on Romanian stock market, the Markowitz model, by focusing on portfolios comprising three securities, and determining the efficient frontier and the minimum variance portfolio.

  1. Labor market modeling recognizing latent job attributes and opportunity constraints : an empirical analysis of labor market behavior of Eritrean women

    OpenAIRE

    Arneberg, Marie W.; Dagsvik, John K.; Jia, Zhiyang

    2002-01-01

    Abstract: This paper analyzes labor market behavior of urban Eritrean women with particular reference to the impact of education, earnings and labor market opportunities. Unlike traditional models of labor supply, which assume that work can be supplied freely in the labor market, we develop a framework that explicitly takes into account the notion of job opportunities and observable sets of feasible jobs. The framework is formulated within a random utility setting in which unob...

  2. Community Coordinated Modeling Center: A Powerful Resource in Space Science and Space Weather Education

    Science.gov (United States)

    Chulaki, A.; Kuznetsova, M. M.; Rastaetter, L.; MacNeice, P. J.; Shim, J. S.; Pulkkinen, A. A.; Taktakishvili, A.; Mays, M. L.; Mendoza, A. M. M.; Zheng, Y.; Mullinix, R.; Collado-Vega, Y. M.; Maddox, M. M.; Pembroke, A. D.; Wiegand, C.

    2015-12-01

    Community Coordinated Modeling Center (CCMC) is a NASA affiliated interagency partnership with the primary goal of aiding the transition of modern space science models into space weather forecasting while supporting space science research. Additionally, over the past ten years it has established itself as a global space science education resource supporting undergraduate and graduate education and research, and spreading space weather awareness worldwide. A unique combination of assets, capabilities and close ties to the scientific and educational communities enable this small group to serve as a hub for raising generations of young space scientists and engineers. CCMC resources are publicly available online, providing unprecedented global access to the largest collection of modern space science models (developed by the international research community). CCMC has revolutionized the way simulations are utilized in classrooms settings, student projects, and scientific labs and serves hundreds of educators, students and researchers every year. Another major CCMC asset is an expert space weather prototyping team primarily serving NASA's interplanetary space weather needs. Capitalizing on its unrivaled capabilities and experiences, the team provides in-depth space weather training to students and professionals worldwide, and offers an amazing opportunity for undergraduates to engage in real-time space weather monitoring, analysis, forecasting and research. In-house development of state-of-the-art space weather tools and applications provides exciting opportunities to students majoring in computer science and computer engineering fields to intern with the software engineers at the CCMC while also learning about the space weather from the NASA scientists.

  3. An approach to developing the market for space shuttle payloads: Business/public policy issues and international marketing considerations

    Science.gov (United States)

    Krebs, W. A. W.

    1974-01-01

    The business and public policies were assessed that were determined to be important for NASA to consider in the design of a program for stimulating use of the space transportation system (STS) among potential users in the U.S. private sector and in foreign countries, in preparation for operations of the space shuttle in the early 1980's. Salient factors related to international cooperation in space are identified for special consideration in the development of user potential of the STS.

  4. THE INFLUENCE OF OPEN SPACE UTILIZATION ON RESIDENTS’ ATTACHMENT WITH COMMUNITY: A CASE STUDY OF RURAL MARKET SQUARE IN SOUTH-WEST NIGERIA

    Directory of Open Access Journals (Sweden)

    Agboola Oluwagbemiga Paul

    2017-03-01

    Full Text Available Open space such as market square is a communal ground where people carry out their various functional activities. This research work is undertaken in order to fill the knowledge gap in areas of people and place relationship, where improvements are needed to overcome challenges in the provision of facilities, design, and planning. In view of its significance, it becomes imperative to explore the relationship between the utilization of market square and residents’ attachment to the community. Therefore, 382 respondents’ views on market dependence, identity, activities preferences, and attachment to the community were collected through self-administered questionnaires. The findings from Structural Equation Modelling (SEM using AMOS tool version 22 for the tested hypothesized model reveal that residents’ dependence and identity with market square had positive significant impacts on residents’ attachment to the community with standardised path coefficient values of 0.32 and 0.48 respectively. It is therefore suggested that appropriate machinery should be put in place towards improving the quality of the market square to further enhance users’ interaction cum the sustainability of the community in Nigeria.

  5. Model instruments of effective segmentation of the fast food market

    OpenAIRE

    Mityaeva Tetyana L.

    2013-01-01

    The article presents results of optimisation step-type calculations of economic effectiveness of promotion of fast food with consideration of key parameters of assessment of efficiency of the marketing strategy of segmentation. The article justifies development of a mathematical model on the bases of 3D-presentations and three-dimensional system of management variables. The modern applied mathematical packages allow formation not only of one-dimensional and two-dimensional arrays and analyse ...

  6. Generalized Bogoliubov Polariton Model: An Application to Stock Exchange Market

    International Nuclear Information System (INIS)

    Anh, Chu Thuy; Anh, Truong Thi Ngoc; Lan, Nguyen Tri; Viet, Nguyen Ai

    2016-01-01

    A generalized Bogoliubov method for investigation non-simple and complex systems was developed. We take two branch polariton Hamiltonian model in second quantization representation and replace the energies of quasi-particles by two distribution functions of research objects. Application to stock exchange market was taken as an example, where the changing the form of return distribution functions from Boltzmann-like to Gaussian-like was studied. (paper)

  7. A Game-Theoretic Model of Marketing Skin Whiteners.

    Science.gov (United States)

    Mendoza, Roger Lee

    2015-01-01

    Empirical studies consistently find that people in less developed countries tend to regard light or "white" skin, particularly among women, as more desirable or superior. This is a study about the marketing of skin whiteners in these countries, where over 80 percent of users are typically women. It proceeds from the following premises: a) Purely market or policy-oriented approaches toward the risks and harms of skin whitening are cost-inefficient; b) Psychosocial and informational factors breed uninformed and risky consumer choices that favor toxic skin whiteners; and c) Proliferation of toxic whiteners in a competitive buyer's market raises critical supplier accountability issues. Is intentional tort a rational outcome of uncooperative game equilibria? Can voluntary cooperation nonetheless evolve between buyers and sellers of skin whiteners? These twin questions are key to addressing the central paradox in this study: A robust and expanding buyer's market, where cheap whitening products abound at a high risk to personal and societal health and safety. Game-theoretic modeling of two-player and n-player strategic interactions is proposed in this study for both its explanatory and predictive value. Therein also lie its practical contributions to the economic literature on skin whitening.

  8. The Analysis and suggested marketing communication for CleanMySpace start-up company

    OpenAIRE

    Tolstykh, Anastasiia

    2016-01-01

    This bachelor thesis is focused on the proposal of marketing communication for new start-up company CleanMyPlace, the winner of VŠE Exports 2015, aimed at increase of its brand awareness and improvement of existing marketing strategies and tactics. The theoretical part is devoted to marketing tools, most improtantly to marketing online communication, as soon as this brand provides its services via internet. In the practical part are defined and analysed the current marketing communication. Th...

  9. Modelling wedding marketing strategies: An fsQCA Analysis

    Directory of Open Access Journals (Sweden)

    Anestis Fotiadis

    2018-05-01

    Full Text Available Aim of the study is to develop a model delineating customer perceptions on wedding marketing strategies in Kaohsiung, Taiwan. Main objective of this paper is to analyse a category of special events: the wedding market sector in Kaohsiung, Taiwan by examining how they attract consumers regarding their marketing strategies using the method of fuzzy-set Qualitative Comparative Analysis (fsQCA. Based on a survey to married, in relationship and singles local citizens of Taiwan the relationships between impressions, importance, push factors with decision making was explored. To test the hypotheses of the proposed model a primary research study was conducted employing a mall intercept technique via distribution of a self-administered questionnaire within a cross sectional on-site field research context. A fsQCA modelling approach technique was employed in order to measure, estimate and confirm the different casual paths constructs, as well as to test the significance of the paths between different segments of the wedding industry. Our findings reveal that the presence of importance, push factors and decision making determines the level of consumer perception performance. However, impressions do not show significant impact on consumer perceptions.

  10. The Models of Market Economy on the Modern Technological Platforms

    Directory of Open Access Journals (Sweden)

    Sokolovska Zoia M.

    2017-11-01

    Full Text Available The article is aimed at analyzing the status of software provision of simulation modeling of economic systems and disclosing the possibilities of application of the integrated software-technological platforms in the building of market models. Problems in the field of applied introduction of the method of simulation modeling have been defined; the status of the software-technological provision of the simulation modeling of economic systems has been analyzed. It has been suggested to use the integrated system of multi-approach simulation modeling AnyLogic as one of the most powerful modern software platforms. The variant of the model of competitive multi-product market adapted to the specifics of pharmaceutical industry enterprises has been considered. The work of the model can be illustrated by results of the situational simulation experiments on the example of the pharmaceutical company «Farmak». The possibilities of parametric adjustment of imitation experiments together with the spectrum of their application in practical activity of pharmaceutical enterprises have been demonstrated.

  11. NATGAS. A Model of the European Natural Gas Market

    International Nuclear Information System (INIS)

    Mulder, M; Zwart, G.

    2006-02-01

    The NATural GAS model is an integrated model of the European wholesale gas market providing long-run projections of supply, transport, storage and consumption patterns in the model region, aggregated in 5-year periods, distinguishing two seasons (winter and summer). Model results include levels of investment in the various branches, output and consumption, depletion of reserves and price levels. The NATGAS model computes long-term effects of policy measures on future gas production and gas prices in Europe. NATGAS is an equilibrium model describing behaviour of gas producers, investors in infrastructure (pipeline, LNG capacity, as well as storage), traders and consumers. NATGAS covers the main European demand regions, including the United Kingdom, Germany, the Netherlands and Italy. Moreover, it covers the main origins of supply on the European market, such as Russia, Norway, Algeria, the Netherlands, the United Kingdom and LNG. In this memorandum, we first discuss the theoretical background as well as the model specifications. Afterwards, we describe the data we used, present some results and assess validity by computing sensitivities and comparing with current developments

  12. Modeling Financial Time Series Based on a Market Microstructure Model with Leverage Effect

    OpenAIRE

    Yanhui Xi; Hui Peng; Yemei Qin

    2016-01-01

    The basic market microstructure model specifies that the price/return innovation and the volatility innovation are independent Gaussian white noise processes. However, the financial leverage effect has been found to be statistically significant in many financial time series. In this paper, a novel market microstructure model with leverage effects is proposed. The model specification assumed a negative correlation in the errors between the price/return innovation and the volatility innovation....

  13. A Computational Agent-Based Modeling Approach for Competitive Wireless Service Market

    KAUST Repository

    Douglas, C C; Hyoseop Lee,; Wonsuck Lee,

    2011-01-01

    Using an agent-based modeling method, we study market dynamism with regard to wireless cellular services that are in competition for a greater market share and profit. In the proposed model, service providers and consumers are described as agents

  14. Market chances for innovative natural gas applications. The determination of market potential by means of a phase model

    International Nuclear Information System (INIS)

    Hoelen, Q.E.J.J.M.; Klootwijk, M.

    2000-01-01

    Innovative applications of natural gas can increase the sale of natural gas, support energy companies in the development of commercial activities, and contribute to energy efficiency measures. The Dutch natural gas trading company Gasunie supports those developments by investigating the market potential of innovative gas appliances. Use is made of the so-called Phase Model for Market Introduction, developed by Kea Consult

  15. Relationship Marketing results: proposition of a cognitive mapping model

    Directory of Open Access Journals (Sweden)

    Iná Futino Barreto

    2015-12-01

    Full Text Available Objective - This research sought to develop a cognitive model that expresses how marketing professionals understand the relationship between the constructs that define relationship marketing (RM. It also tried to understand, using the obtained model, how objectives in this field are achieved. Design/methodology/approach – Through cognitive mapping, we traced 35 individual mental maps, highlighting how each respondent understands the interactions between RM elements. Based on the views of these individuals, we established an aggregate mental map. Theoretical foundation – The topic is based on a literature review that explores the RM concept and its main elements. Based on this review, we listed eleven main constructs. Findings – We established an aggregate mental map that represents the RM structural model. Model analysis identified that CLV is understood as the final result of RM. We also observed that the impact of most of the RM elements on CLV is brokered by loyalty. Personalization and quality, on the other hand, proved to be process input elements, and are the ones that most strongly impact others. Finally, we highlight that elements that punish customers are much less effective than elements that benefit them. Contributions - The model was able to insert core elements of RM, but absent from most formal models: CLV and customization. The analysis allowed us to understand the interactions between the RM elements and how the end result of RM (CLV is formed. This understanding improves knowledge on the subject and helps guide, assess and correct actions.

  16. Macro Level Simulation Model Of Space Shuttle Processing

    Science.gov (United States)

    2000-01-01

    The contents include: 1) Space Shuttle Processing Simulation Model; 2) Knowledge Acquisition; 3) Simulation Input Analysis; 4) Model Applications in Current Shuttle Environment; and 5) Model Applications for Future Reusable Launch Vehicles (RLV's). This paper is presented in viewgraph form.

  17. Enhanced surrogate models for statistical design exploiting space mapping technology

    DEFF Research Database (Denmark)

    Koziel, Slawek; Bandler, John W.; Mohamed, Achmed S.

    2005-01-01

    We present advances in microwave and RF device modeling exploiting Space Mapping (SM) technology. We propose new SM modeling formulations utilizing input mappings, output mappings, frequency scaling and quadratic approximations. Our aim is to enhance circuit models for statistical analysis...

  18. Optimal Goodwill Model with Consumer Recommendations and Market Segmentation

    OpenAIRE

    Bogusz, Dominika; Górajski, Mariusz

    2014-01-01

    We propose a new dynamic model of product goodwill where a product is sold in many market segments, and where the segments are indicated by the usage experience of consumers. The dynamics of product goodwill is described by a partial differential equation of the Lotka–Sharpe– McKendrick type. The main novelty of this model is that the product goodwill in a segment of new consumers depends not only on advertising effort, but also on consumer recommendations, for which we introduce a mathematic...

  19. An Aggregation Model for Energy Resources Management and Market Negotiations

    Directory of Open Access Journals (Sweden)

    Omid Abrishambaf

    2018-03-01

    Full Text Available Currently the use of distributed energy resources, especially renewable generation, and demand response programs are widely discussed in scientific contexts, since they are a reality in nowadays electricity markets and distribution networks. In order to benefit from these concepts, an efficient energy management system is needed to prevent energy wasting and increase profits. In this paper, an optimization based aggregation model is presented for distributed energy resources and demand response program management. This aggregation model allows different types of customers to participate in electricity market through several tariffs based demand response programs. The optimization algorithm is a mixed-integer linear problem, which focuses on minimizing operational costs of the aggregator. Moreover, the aggregation process has been done via K-Means clustering algorithm, which obtains the aggregated costs and energy of resources for remuneration. By this way, the aggregator is aware of energy available and minimum selling price in order to participate in the market with profit. A realistic low voltage distribution network has been proposed as a case study in order to test and validate the proposed methodology. This distribution network consists of 25 distributed generation units, including photovoltaic, wind and biomass generation, and 20 consumers, including residential, commercial, and industrial buildings.

  20. Developing a conceptual model for selecting and evaluating online markets

    Directory of Open Access Journals (Sweden)

    Sadegh Feizollahi

    2013-04-01

    Full Text Available There are many evidences, which emphasis on the benefits of using new technologies of information and communication in international business and many believe that E-Commerce can help satisfy customer explicit and implicit requirements. Internet shopping is a concept developed after the introduction of electronic commerce. Information technology (IT and its applications, specifically in the realm of the internet and e-mail promoted the development of e-commerce in terms of advertising, motivating and information. However, with the development of new technologies, credit and financial exchange on the internet websites were constructed so to facilitate e-commerce. The proposed study sends a total of 200 questionnaires to the target group (teachers - students - professionals - managers of commercial web sites and it manages to collect 130 questionnaires for final evaluation. Cronbach's alpha test is used for measuring reliability and to evaluate the validity of measurement instruments (questionnaires, and to assure construct validity, confirmatory factor analysis is employed. In addition, in order to analyze the research questions based on the path analysis method and to determine markets selection models, a regular technique is implemented. In the present study, after examining different aspects of e-commerce, we provide a conceptual model for selecting and evaluating online marketing in Iran. These findings provide a consistent, targeted and holistic framework for the development of the Internet market in the country.

  1. A Market Dynamics Model for New Industrial Products and Its Application

    OpenAIRE

    Shmuel S. Oren; Michael H. Rothkopf

    1984-01-01

    New product planning models attempt to predict the market consequences of product line and product design decisions. One output of such models, especially those driven by subjective or market research data, is usually theoretical market shares based upon consumer preferences under idealized conditions. This paper describes a class of models that bridge the gap between such theoretical market shares and dynamic sales forecasts. This model accounts for differences in customer awareness of diffe...

  2. Mathematical modelling of electricity market with renewable energy sources

    International Nuclear Information System (INIS)

    Marchenko, O.V.

    2007-01-01

    The paper addresses the electricity market with conventional energy sources on fossil fuel and non-conventional renewable energy sources (RESs) with stochastic operating conditions. A mathematical model of long-run (accounting for development of generation capacities) equilibrium in the market is constructed. The problem of determining optimal parameters providing the maximum social criterion of efficiency is also formulated. The calculations performed have shown that the adequate choice of price cap, environmental tax, subsidies to RESs and consumption tax make it possible to take into account external effects (environmental damage) and to create incentives for investors to construct conventional and renewable energy sources in an optimal (from the society view point) mix. (author)

  3. Modeling Financial Time Series Based on a Market Microstructure Model with Leverage Effect

    Directory of Open Access Journals (Sweden)

    Yanhui Xi

    2016-01-01

    Full Text Available The basic market microstructure model specifies that the price/return innovation and the volatility innovation are independent Gaussian white noise processes. However, the financial leverage effect has been found to be statistically significant in many financial time series. In this paper, a novel market microstructure model with leverage effects is proposed. The model specification assumed a negative correlation in the errors between the price/return innovation and the volatility innovation. With the new representations, a theoretical explanation of leverage effect is provided. Simulated data and daily stock market indices (Shanghai composite index, Shenzhen component index, and Standard and Poor’s 500 Composite index via Bayesian Markov Chain Monte Carlo (MCMC method are used to estimate the leverage market microstructure model. The results verify the effectiveness of the model and its estimation approach proposed in the paper and also indicate that the stock markets have strong leverage effects. Compared with the classical leverage stochastic volatility (SV model in terms of DIC (Deviance Information Criterion, the leverage market microstructure model fits the data better.

  4. A general-model-space diagrammatic perturbation theory

    International Nuclear Information System (INIS)

    Hose, G.; Kaldor, U.

    1980-01-01

    A diagrammatic many-body perturbation theory applicable to arbitrary model spaces is presented. The necessity of having a complete model space (all possible occupancies of the partially-filled shells) is avoided. This requirement may be troublesome for systems with several well-spaced open shells, such as most atomic and molecular excited states, as a complete model space spans a very broad energy range and leaves out states within that range, leading to poor or no convergence of the perturbation series. The method presented here would be particularly useful for such states. The solution of a model problem (He 2 excited Σ + sub(g) states) is demonstrated. (Auth.)

  5. Axiomatics of uniform space-time models

    International Nuclear Information System (INIS)

    Levichev, A.V.

    1983-01-01

    The mathematical statement of space-time axiomatics of the special theory of relativity is given; it postulates that the space-time M is the binding single boundary Hausedorf local-compact four-dimensional topological space with the given order. The theorem is proved: if the invariant order in the four-dimensional group M is given by the semi-group P, which contingency K contains inner points , then M is commutative. The analogous theorem is correct for the group of two and three dimensionalities

  6. Forecasting Performance of Asymmetric GARCH Stock Market Volatility Models

    Directory of Open Access Journals (Sweden)

    Hojin Lee

    2009-12-01

    Full Text Available We investigate the asymmetry between positive and negative returns in their effect on conditional variance of the stock market index and incorporate the characteristics to form an out-of-sample volatility forecast. Contrary to prior evidence, however, the results in this paper suggest that no asymmetric GARCH model is superior to basic GARCH(1,1 model. It is our prior knowledge that, for equity returns, it is unlikely that positive and negative shocks have the same impact on the volatility. In order to reflect this intuition, we implement three diagnostic tests for volatility models: the Sign Bias Test, the Negative Size Bias Test, and the Positive Size Bias Test and the tests against the alternatives of QGARCH and GJR-GARCH. The asymmetry test results indicate that the sign and the size of the unexpected return shock do not influence current volatility differently which contradicts our presumption that there are asymmetric effects in the stock market volatility. This result is in line with various diagnostic tests which are designed to determine whether the GARCH(1,1 volatility estimates adequately represent the data. The diagnostic tests in section 2 indicate that the GARCH(1,1 model for weekly KOSPI returns is robust to the misspecification test. We also investigate two representative asymmetric GARCH models, QGARCH and GJR-GARCH model, for our out-of-sample forecasting performance. The out-of-sample forecasting ability test reveals that no single model is clearly outperforming. It is seen that the GJR-GARCH and QGARCH model give mixed results in forecasting ability on all four criteria across all forecast horizons considered. Also, the predictive accuracy test of Diebold and Mariano based on both absolute and squared prediction errors suggest that the forecasts from the linear and asymmetric GARCH models need not be significantly different from each other.

  7. Petroleum Market Model of the National Energy Modeling System. Part 2

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-12-18

    This report contains the following: Bibliography; Petroleum Market Model abstract; Data quality; Estimation methodologies (includes refinery investment recovery thresholds, gas plant models, chemical industry demand for methanol, estimation of refinery fixed costs, estimation of distribution costs, estimation of taxes gasoline specifications, estimation of gasoline market shares, estimation of low-sulfur diesel market shares, low-sulfur diesel specifications, estimation of regional conversion coefficients, estimation of SO{sub 2} allowance equations, unfinished oil imports methodology, product pipeline capacities and tariffs, cogeneration methodology, natural gas plant fuel consumption, and Alaskan crude oil exports); Matrix generator documentation; Historical data processing; and Biofuels supply submodule.

  8. A strategic gaming model for health information exchange markets.

    Science.gov (United States)

    Martinez, Diego A; Feijoo, Felipe; Zayas-Castro, Jose L; Levin, Scott; Das, Tapas K

    2018-03-01

    Current market conditions create incentives for some providers to exercise control over patient data in ways that unreasonably limit its availability and use. Here we develop a game theoretic model for estimating the willingness of healthcare organizations to join a health information exchange (HIE) network and demonstrate its use in HIE policy design. We formulated the model as a bi-level integer program. A quasi-Newton method is proposed to obtain a strategy Nash equilibrium. We applied our modeling and solution technique to 1,093,177 encounters for exchanging information over a 7.5-year period in 9 hospitals located within a three-county region in Florida. Under a set of assumptions, we found that a proposed federal penalty of up to $2,000,000 has a higher impact on increasing HIE adoption than current federal monetary incentives. Medium-sized hospitals were more reticent to adopt HIE than large-sized hospitals. In the presence of collusion among multiple hospitals to not adopt HIE, neither federal incentives nor proposed penalties increase hospitals' willingness to adopt. Hospitals' apathy toward HIE adoption may threaten the value of inter-connectivity even with federal incentives in place. Competition among hospitals, coupled with volume-based payment systems, creates no incentives for smaller hospitals to exchange data with competitors. Medium-sized hospitals need targeted actions (e.g., outside technological assistance, group purchasing arrangements) to mitigate market incentives to not adopt HIE. Strategic game theoretic models help to clarify HIE adoption decisions under market conditions at play in an extremely complex technology environment.

  9. Proactive Modeling of Market, Product and Production Architectures

    DEFF Research Database (Denmark)

    Mortensen, Niels Henrik; Hansen, Christian Lindschou; Hvam, Lars

    2011-01-01

    This paper presents an operational model that allows description of market, products and production architectures. The main feature of this model is the ability to describe both structural and functional aspect of architectures. The structural aspect is an answer to the question: What constitutes...... the architecture, e.g. standard designs, design units and interfaces? The functional aspect is an answer to the question: What is the behaviour or the architecture, what is it able to do, i.e. which products at which performance levels can be derived from the architecture? Among the most important benefits...... of this model is the explicit ability to describe what the architecture is prepared for, and what it is not prepared for - concerning development of future derivative products. The model has been applied in a large scale global product development project. Among the most important benefits is contribution to...

  10. A multidimensional subdiffusion model: An arbitrage-free market

    International Nuclear Information System (INIS)

    Li Guo-Hua; Zhang Hong; Luo Mao-Kang

    2012-01-01

    To capture the subdiffusive characteristics of financial markets, the subordinated process, directed by the inverse α-stale subordinator S α (t) for 0 < α < 1, has been employed as the model of asset prices. In this article, we introduce a multidimensional subdiffusion model that has a bond and K correlated stocks. The stock price process is a multidimensional subdiffusion process directed by the inverse α-stable subordinator. This model describes the period of stagnation for each stock and the behavior of the dependency between multiple stocks. Moreover, we derive the multidimensional fractional backward Kolmogorov equation for the subordinated process using the Laplace transform technique. Finally, using a martingale approach, we prove that the multidimensional subdiffusion model is arbitrage-free, and also gives an arbitrage-free pricing rule for contingent claims associated with the martingale measure. (interdisciplinary physics and related areas of science and technology)

  11. Market Ecology, Pareto Wealth Distribution and Leptokurtic Returns in Microscopic Simulation of the LLS Stock Market Model

    Science.gov (United States)

    Solomon, Sorin; Levy, Moshe

    2001-06-01

    The LLS stock market model (see Levy Levy and Solomon Academic Press 2000 "Microscopic Simulation of Financial Markets; From Investor Behavior to Market Phenomena" for a review) is a model of heterogeneous quasi-rational investors operating in a complex environment about which they have incomplete information. We review the main features of this model and several of its extensions. We study the effects of investor heterogeneity and show that predation, competition, or symbiosis may occur between different investor populations. The dynamics of the LLS model lead to the empirically observed Pareto wealth distribution. Many properties observed in actual markets appear as natural consequences of the LLS dynamics: - truncated Levy distribution of short-term returns, - excess volatility, - a return autocorrelation "U-shape" pattern, and - a positive correlation between volume and absolute returns.

  12. Applying marketing channel theory to food marketing in developing countries: A vertical disintegration model for horticultural marketing channels in Kenya

    NARCIS (Netherlands)

    Dijkstra, T.; Meulenberg, M.T.G.; Tilburg, van A.

    2001-01-01

    This article shows that marketing channel theory, which has been extensively applied in developed countries, can also be of great value to the developing world. Notably, the channel approach makes it possible to explain the number of trade levels observed in food marketing systems. We propose here a

  13. Model Adaptation in Parametric Space for POD-Galerkin Models

    Science.gov (United States)

    Gao, Haotian; Wei, Mingjun

    2017-11-01

    The development of low-order POD-Galerkin models is largely motivated by the expectation to use the model developed with a set of parameters at their native values to predict the dynamic behaviors of the same system under different parametric values, in other words, a successful model adaptation in parametric space. However, most of time, even small deviation of parameters from their original value may lead to large deviation or unstable results. It has been shown that adding more information (e.g. a steady state, mean value of a different unsteady state, or an entire different set of POD modes) may improve the prediction of flow with other parametric states. For a simple case of the flow passing a fixed cylinder, an orthogonal mean mode at a different Reynolds number may stabilize the POD-Galerkin model when Reynolds number is changed. For a more complicated case of the flow passing an oscillatory cylinder, a global POD-Galerkin model is first applied to handle the moving boundaries, then more information (e.g. more POD modes) is required to predicate the flow under different oscillatory frequencies. Supported by ARL.

  14. A Conceptual Model of Knowledge Sharing and Market Orientation in the Tourism Sector

    OpenAIRE

    Chien M. Yeh; Han N. Hu; Shu H. Tsai

    2011-01-01

    Problem statement: Marketing scholars have emphasized the importance of market orientation. While a number of studies discover the positive influence of market orientation on a variety of organizations phenomena, the understanding of factors that facilitate market orientation is limited. This study develops a conceptual model in which knowledge sharing is proposed to be the antecedent to three perspectives of market orientation-customer orientation, competitor orientation ...

  15. Some models for electric power price clearing in liberalized market area

    International Nuclear Information System (INIS)

    Chogelja, Goran; Pavlov, Risto

    2001-01-01

    This paper presents some of the basic models for electrical energy price clearing in liberalized market area and competition on level of consumption and level of production. As an example the Amsterdam power exchange APX (spot market) is given and some of another types of markets and methodology for pricing are presented. In detal 'clearing pricing mechanism in day athead market' from the Amsterdam power exchange is presented as well as the methodology for market balancing and financial clearing. (Original)

  16. A composite model of the space-time and 'colors'

    International Nuclear Information System (INIS)

    Terazawa, Hidezumi.

    1987-03-01

    A pregeometric and pregauge model of the space-time and ''colors'' in which the space-time metric and ''color'' gauge fields are both composite is presented. By the non-triviality of the model, the number of space-time dimensions is restricted to be not larger than the number of ''colors''. The long conjectured space-color correspondence is realized in the model action of the Nambu-Goto type which is invariant under both general-coordinate and local-gauge transformations. (author)

  17. Concepts and models. The common market for electricity

    International Nuclear Information System (INIS)

    Moraing, M.; Scholz, U.

    1993-01-01

    The discussion and debate concerning opening-up the European energy market to competition are complicated and difficult to sort out. The Council of Ministers rejected the EC Commission's proposals last November, and now the Commission is expected to produce new initiatives. This fall, the European Parliament will deliberate on a counter-proposal of its energy committee. The authors of the article, use the situation in Germany as a basis for an overview of the most important models currently being discusses. (orig.) [de

  18. Contribution to modeling and dynamic risk hedging in energy markets

    International Nuclear Information System (INIS)

    Noufel, Frikha

    2010-12-01

    This thesis is concerned with probabilistic numerical problems about modeling, risk control and risk hedging motivated by applications to energy markets. The main tool is based on stochastic approximation and simulation methods. This thesis consists of three parts. The first one is devoted to the computation of two risk measures of the portfolio loss distribution L: the Value-at-Risk (VaR) and the Conditional Value-at-Risk (CVaR). This computation uses a stochastic algorithm combined with an adaptive variance reduction technique. The first part of this chapter deals with the finite dimensional case, the second part extends the results of the first part to the case of a path-dependency process and the last one deals low discrepancy sequences. The second chapter is devoted with risk minimizing hedging strategies in an incomplete market operating in discrete time using quantization based stochastic approximation. Theoretical results on CVaR hedging are presented then numerical aspects are addressed in a Markovian framework. The last part deals with joint modeling of Gas and Electricity spot prices. The multi-factor model presented is based on stationary Ornstein process with parameterized diffusion coefficient. (author)

  19. A fuzzy logic model to forecast stock market momentum in Indonesia's property and real estate sector

    Science.gov (United States)

    Penawar, H. K.; Rustam, Z.

    2017-07-01

    The Capital market has the important role in Indonesia's economy. The capital market does not only support the economy of Indonesia but also being an indicator Indonesia's economy improvement. Something that has been traded in the capital market is stock (stock market). Nowadays, the stock market is full of uncertainty. That uncertainty values make predicting stock market is all that we have to do before we make a decision in the stock market. One that can be predicted in the stock market is momentum. To forecast stock market momentum, it can use fuzzy logic model. In the process of modeling, it will be used 14 days historical data that consisting the value of open, high, low, and close, to predict the next 5 days momentum categories. There are three momentum categories namely Bullish, Neutral, and Bearish. To illustrate the fuzzy logic model, we will use stocks data from several companies that listed on Indonesia Stock Exchange (IDX) in property and real estate sector.

  20. A Study of Islamic and Arab Markets' Role in Revitalizing Urban Spaces

    Directory of Open Access Journals (Sweden)

    Mohamed Yasser Lotfy

    2016-01-01

    Full Text Available Market places have occupied a major role in most cities around the world, being a site for more than just economic interactions, but rather a cultivating agent for social and cultural growth. The Arab and Islamic cities have a proud history of market places, most of the times being the main core of the city, with urban development encompassing it, and till the present day market places are in the heart of most communities. The modern city brought with it a devaluing of the traditional market places, making it a tourist attraction as in the case of "khan el Khalil",or leaving it to rust like "bab el louq" market. Those markets while playing a big role historically, modern city planning moved the services and markets into other form, thus becoming less important, abandoned, or even demolished at cases. The issue at hand deals with how the contemporary urban planning affected market places, with emphasis on closed markets (Bab el-loukwhich can be said to be the successor of the ancient Bazaar or Wekala.  Bal el-Louk market was once in the heart of Cairo and vital part of its community life, but now the market after more than a 100 years, is in ruins, but hope is not yet all lost, since the market can still be revived and revitalized. To tackle this issue a combination of comparative and field studies must occur. On the one hand, comparative studies with markets in the US or closed markets in European cities such as Paris or Copenhagen would be done to find the necessary elements and goals that would make those markets vital, and the necessary steps to revitalize our own forgotten markets. The other study would have to deal with the current condition of bab el louk market in Cairo, finding out the reason behind its demise, the owners and users feedback on said market, and the opportunities for change. With the results of the studies, general recommendations would be made for the revitalization of the Egyptian marketplaces, using an urban framework

  1. The German power market. Data collection for model analysis

    Energy Technology Data Exchange (ETDEWEB)

    Munksgaard, J.; Alsted Pedersen, K.; Ramskov, J.

    2000-09-01

    In the present project the market scenario for analysing market imperfections has been the Northern European power market, i.e. a market including Germany as well. Consequently, one of the tasks in the project has been to collect data for Germany in order to develop the empirical basis of the ELEPHANT model. In that perspective the aim of this report is to document the data collected for Gemany, to specify the data sources used and further to lay stress on the assumptions which have been made when data have not been available. By doing so, transparency in model results is improved. Further, a basis for discussing the quality of data as well as a framework for future revisions and updating of data have been established. The data collected for Germany have been given by the exogenous variables defined by the ELEPHANT model. In that way data collection is a priori given by the specification of the model. The model includes more than 30 exogenous variables specified at a very detailed level. These variables include among others data on energy demand, detailed power production data and data on energy taxes and CO{sub 2} emission targets. This points to the fact that many kinds of data sources have been used. However, due to lack of data sources not all relevant data have been collected. One area in which lack of data has been significant is demand reactions to changes in energy prices, i.e. the different kinds of demand elasticities used in the production and consumer utility functions in the model. Concerning elasticities for German demand reactions no data sources have been available at all. Another area of data problems is combined heat and power production (so-called CHP production), in which only very aggregated data have been available. Lack of data or poor quality of data (e.g., data not up to date or data not detailed enough) has led to the use of appropriate assumptions and short cuts in order to establish the entire data basis for the model. We describe the

  2. The German power market. Data collection for model analysis

    International Nuclear Information System (INIS)

    Munksgaard, J.; Alsted Pedersen, K.; Ramskov, J.

    2000-09-01

    In the present project the market scenario for analysing market imperfections has been the Northern European power market, i.e. a market including Germany as well. Consequently, one of the tasks in the project has been to collect data for Germany in order to develop the empirical basis of the ELEPHANT model. In that perspective the aim of this report is to document the data collected for Gemany, to specify the data sources used and further to lay stress on the assumptions which have been made when data have not been available. By doing so, transparency in model results is improved. Further, a basis for discussing the quality of data as well as a framework for future revisions and updating of data have been established. The data collected for Germany have been given by the exogenous variables defined by the ELEPHANT model. In that way data collection is a priori given by the specification of the model. The model includes more than 30 exogenous variables specified at a very detailed level. These variables include among others data on energy demand, detailed power production data and data on energy taxes and CO 2 emission targets. This points to the fact that many kinds of data sources have been used. However, due to lack of data sources not all relevant data have been collected. One area in which lack of data has been significant is demand reactions to changes in energy prices, i.e. the different kinds of demand elasticities used in the production and consumer utility functions in the model. Concerning elasticities for German demand reactions no data sources have been available at all. Another area of data problems is combined heat and power production (so-called CHP production), in which only very aggregated data have been available. Lack of data or poor quality of data (e.g., data not up to date or data not detailed enough) has led to the use of appropriate assumptions and short cuts in order to establish the entire data basis for the model. We describe the

  3. A large-scale linear complementarity model of the North American natural gas market

    International Nuclear Information System (INIS)

    Gabriel, Steven A.; Jifang Zhuang; Kiet, Supat

    2005-01-01

    The North American natural gas market has seen significant changes recently due to deregulation and restructuring. For example, third party marketers can contract for transportation and purchase of gas to sell to end-users. While the intent was a more competitive market, the potential for market power exists. We analyze this market using a linear complementarity equilibrium model including producers, storage and peak gas operators, third party marketers and four end-use sectors. The marketers are depicted as Nash-Cournot players determining supply to meet end-use consumption, all other players are in perfect competition. Results based on National Petroleum Council scenarios are presented. (Author)

  4. A SURVEY OF STACKELBERG DIFFERENTIAL GAME MODELS IN SUPPLY AND MARKETING CHANNELS

    Institute of Scientific and Technical Information of China (English)

    Xiuli HE; Ashutosh PRASAD; Suresh P. SETHI; Genaro J. GUTIERREZ

    2007-01-01

    Stackelberg differential game models have been used to study sequential decision making in noncooperative games in diverse fields. In this paper, we survey recent applications of Stackelberg differential game models to the supply chain management and marketing channels literatures. A common feature of these applications is the specification of the game structure: a decentralized channel composed of a manufacturer and independent retailers, and a sequential decision procedure with demand and supply dynamics and coordination issues. In supply chain management, Stackelberg differential games have been used to investigate inventory issues, wholesale and retail pricing strategies, and outsourcing in dynamic environments. The underlying demand typically has growth dynamics or seasonal variation. In marketing, Stackelberg differential games have been used to model cooperative advertising programs, store brand and national brand advertising strategies, shelf space allocation, and pricing and advertising decisions. The demand dynamics are usually extensions of the classical advertising capital models or sales-advertising response models. We begin by explaining the Stackelberg differential game solution methodology and then provide a description of the models and results reported in the literature.

  5. Integrating market share models with network optimizing models for strategic planning in an oil pipeline company

    International Nuclear Information System (INIS)

    Smith, L.D.; Moses, S.W.

    1991-01-01

    Mathematical models of market share are constructed to describe the distribution of petroleum products from pipeline terminals, water terminals and refineries in the midcontinental United States. Network distribution models are developed to analyse the constraints and economics of alternative distribution systems. This paper describes how the two types of models were integrated for strategic planning in an oil pipeline company

  6. EIA model documentation: Petroleum market model of the national energy modeling system

    International Nuclear Information System (INIS)

    1995-01-01

    The purpose of this report is to define the objectives of the Petroleum Market Model (PMM), describe its basic approach, and provide detail on how it works. This report is intended as a reference document for model analysts, users, and the public. Documentation of the model is in accordance with EIA's legal obligation to provide adequate documentation in support of its models. The PMM models petroleum refining activities, the marketing of petroleum products to consumption regions, the production of natural gas liquids in gas processing plants, and domestic methanol production. The PMM projects petroleum product prices and sources of supply for meeting petroleum product demand. The sources of supply include crude oil, both domestic and imported; other inputs including alcohols and ethers; natural gas plant liquids production; petroleum product imports; and refinery processing gain. In addition, the PMM estimates domestic refinery capacity expansion and fuel consumption. Product prices are estimated at the Census division level and much of the refining activity information is at the Petroleum Administration for Defense (PAD) District level

  7. EIA model documentation: Petroleum market model of the national energy modeling system

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1995-12-28

    The purpose of this report is to define the objectives of the Petroleum Market Model (PMM), describe its basic approach, and provide detail on how it works. This report is intended as a reference document for model analysts, users, and the public. Documentation of the model is in accordance with EIA`s legal obligation to provide adequate documentation in support of its models. The PMM models petroleum refining activities, the marketing of petroleum products to consumption regions, the production of natural gas liquids in gas processing plants, and domestic methanol production. The PMM projects petroleum product prices and sources of supply for meeting petroleum product demand. The sources of supply include crude oil, both domestic and imported; other inputs including alcohols and ethers; natural gas plant liquids production; petroleum product imports; and refinery processing gain. In addition, the PMM estimates domestic refinery capacity expansion and fuel consumption. Product prices are estimated at the Census division level and much of the refining activity information is at the Petroleum Administration for Defense (PAD) District level.

  8. Phase-space dynamics of Bianchi IX cosmological models

    International Nuclear Information System (INIS)

    Soares, I.D.

    1985-01-01

    The complex phase-space dynamical behaviour of a class of Biachi IX cosmological models is discussed, as the chaotic gravitational collapse due Poincare's homoclinic phenomena, and the n-furcation of periodic orbits and tori in the phase space of the models. Poincare maps which show this behaviour are constructed merically and applications are discussed. (Author) [pt

  9. Measuring the Effect of Exchange Rate Movements on Stock Market Returns Volatility: GARCH Model

    Directory of Open Access Journals (Sweden)

    Abdelkadir BESSEBA

    2017-06-01

    Full Text Available This paper aims to investigate the dynamic links between exchange rate fluctuations and stock market return volatility. For this purpose, we have employed a Generalized Autoregressive Conditional Heteroscedasticity model (GARCH model. Stock market returns sensitivities are found to be stronger for exchange rates, implying that exchange rate change plays an important role in determining the dynamics of the stock market returns.

  10. Modelling the world oil market: Assessment of a quarterly econometric model

    International Nuclear Information System (INIS)

    Dees, Stephane; Karadeloglou, Pavlos; Kaufmann, Robert K.; Sanchez, Marcelo

    2007-01-01

    This paper describes a structural econometric model of the world oil market that can be used to analyse oil market developments and risks. Oil demand depends on domestic economic activity and the real price of oil. Oil supply for non-OPEC producers, based on competitive behaviours, is constrained by geological and institutional conditions. Oil prices are determined by a 'price rule' that includes market conditions and OPEC behaviour. Policy simulations indicate that oil demand and non-OPEC supply are rather inelastic to changes in price, while OPEC decisions about quota and capacity utilisation have a significant, immediate impact on oil prices

  11. Minimal agent based model for financial markets II. Statistical properties of the linear and multiplicative dynamics

    Science.gov (United States)

    Alfi, V.; Cristelli, M.; Pietronero, L.; Zaccaria, A.

    2009-02-01

    We present a detailed study of the statistical properties of the Agent Based Model introduced in paper I [Eur. Phys. J. B, DOI: 10.1140/epjb/e2009-00028-4] and of its generalization to the multiplicative dynamics. The aim of the model is to consider the minimal elements for the understanding of the origin of the stylized facts and their self-organization. The key elements are fundamentalist agents, chartist agents, herding dynamics and price behavior. The first two elements correspond to the competition between stability and instability tendencies in the market. The herding behavior governs the possibility of the agents to change strategy and it is a crucial element of this class of models. We consider a linear approximation for the price dynamics which permits a simple interpretation of the model dynamics and, for many properties, it is possible to derive analytical results. The generalized non linear dynamics results to be extremely more sensible to the parameter space and much more difficult to analyze and control. The main results for the nature and self-organization of the stylized facts are, however, very similar in the two cases. The main peculiarity of the non linear dynamics is an enhancement of the fluctuations and a more marked evidence of the stylized facts. We will also discuss some modifications of the model to introduce more realistic elements with respect to the real markets.

  12. A novel model for product bundling and direct marketing in e-commerce based on market segmentation

    Directory of Open Access Journals (Sweden)

    Arash Beheshtian-Ardakani

    2018-01-01

    Full Text Available Nowadays, companies offer product bundles with special discounts in order to sell more products. However, it is important to note that customers show different levels of loyalties to companies, and each segment of the market has unique features, which influences the customers’ buying patterns. The primary purpose of this paper is to propose a novel model for product bundling in e-commerce websites by using market segmentation variables and customer loyalty analysis. RFM model is employed to calculate customer loyalty. Subsequently, the customers are grouped based on their loyalty levels. Each group is then divided into different segments based on market segmentation variables. The product bundles are determined for each market segment via clustering algorithms. Apriori algorithm is also used to determine the association rules for each product bundle. Classification models are applied in order to determine which product bundle should be recommended to each customer. The results demonstrate that the silhouette coefficient, support, confidence, and accuracy values are higher when both customer loyalty level and market segmentation variables are used in product bundling. Accordingly, the proposed model increases the chance of success in direct marketing and recommending product bundles to customers.

  13. Financial Investment Management: Testing the Market Model on the Romanian Capital Market during the Post Financial Crisis

    Directory of Open Access Journals (Sweden)

    Radu CIOBANU

    2011-06-01

    Full Text Available This article presents an analysis of the decision of investing in the capital market in Romania during 2009-2010, in the context of overcoming the global financial crisis. In the first part of the paper, we have made a brief presentation of the simplified model of market analysis introduced in the specialized literature by William Sharpe, the respective model representing the starting point in our study. The purpose of the present study is to emphasize how the evolutions of the financial securities rates listed on the Bucharest Stock Exchange could be explained based on the evolution of BET Romanian capital market index. Although the study over this phenomenon has begun in the middle of the last century, every day new studies appear that are either coming in addition to the already existing ones or are bringing a new approach regarding the financial theory. The novelty of the present study conducted by us resides in the highlighting of the evolutions of the financial securities rates during July 2009 – December 2010 periods. The second part of the paper presents the results of a study conducted on the Romanian capital market, emphasizing the correlations between the most important securities on the Romanian capital market, as parts of BET index and market index. The aim is to check whether during this period the evolution of the financial securities’ return can be explained more or less by the return of the capital market.

  14. Prospective of Transformation of Current Models of the Global Pharmaceutical Market

    Directory of Open Access Journals (Sweden)

    Yuriy Solodkovskyy

    2012-02-01

    Full Text Available This article thoroughly analyzes the current state of the global pharmaceutical market, defines the key factors for its development and outlines the promising areas of transformation of existing business models of top companies. The forecasted data relating to the market development until 2015 have been investigated. The global, market, technological and organizational factors of transformation of modern model of the global pharmaceutical market have been identified.

  15. What makes a marketing campaing a viral success? : A descriptive model exploring the mechanisms of viral marketing

    OpenAIRE

    Stålnacke Larsson, Richard; Odén, Niklas

    2011-01-01

    What makes some marketing campaigns so immensely big and well known when they are marketed through social media or with a viral approach? How can a company reach out to customers through viral marketing and how can they make use of today’s social media to achieve it? In this article we will try to understand and further explore what a campaign have to accomplish in order to achieve a viral spread, using a descriptive model which uses a number of factors and terms necessary in order to properl...

  16. A modelling breakthrough for market design analysis to test massive intermittent generation integration in markets results of selected OPTIMATE studies

    DEFF Research Database (Denmark)

    Beaude, Francois; Atayi, A.; Bourmaud, J.-Y.

    2013-01-01

    The OPTIMATE1 platform focuses on electricity system and market designs modelling in order to assess current and innovative designs in Europe. The current paper describes the results of the first validation studies' conducted with the tool. These studies deal with day-ahead market rules, load...... flexibility, cross-border management and intermittent renewable support schemes with a view to better integrating large amounts of renewable energy in Europe. Market and system designs were assessed based on economic efficiency, security of supply2 and environmental impact3 indicators. These results give...

  17. Modeling and prioritizing demand response programs in power markets

    International Nuclear Information System (INIS)

    Aalami, H.A.; Moghaddam, M. Parsa; Yousefi, G.R.

    2010-01-01

    One of the responsibilities of power market regulator is setting rules for selecting and prioritizing demand response (DR) programs. There are many different alternatives of DR programs for improving load profile characteristics and achieving customers' satisfaction. Regulator should find the optimal solution which reflects the perspectives of each DR stakeholder. Multi Attribute Decision Making (MADM) is a proper method for handling such optimization problems. In this paper, an extended responsive load economic model is developed. The model is based on price elasticity and customer benefit function. Prioritizing of DR programs can be realized by means of Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) method. Considerations of ISO/utility/customer regarding the weighting of attributes are encountered by entropy method. An Analytical Hierarchy Process (AHP) is used for selecting the most effective DR program. Numerical studies are conducted on the load curve of the Iranian power grid in 2007. (author)

  18. A Structural Model of the Retail Market for Illicit Drugs.

    Science.gov (United States)

    Galenianos, Manolis; Gavazza, Alessandro

    2017-03-01

    We estimate a model of illicit drugs markets using data on purchases of crack cocaine. Buyers are searching for high-quality drugs, but they determine drugs' quality (i.e., their purity) only after consuming them. Hence, sellers can rip off first-time buyers or can offer higher-quality drugs to induce buyers to purchase from them again. In equilibrium, a distribution of qualities persists. The estimated model implies that if drugs were legalized, in which case purity could be regulated and hence observable, the average purity of drugs would increase by approximately 20 percent and the dispersion would decrease by approximately 80 percent. Moreover, increasing penalties may raise the purity and affordability of the drugs traded by increasing sellers’ relative profitability of targeting loyal buyers versus first-time buyers.

  19. The space-time model according to dimensional continuous space-time theory

    International Nuclear Information System (INIS)

    Martini, Luiz Cesar

    2014-01-01

    This article results from the Dimensional Continuous Space-Time Theory for which the introductory theoretician was presented in [1]. A theoretical model of the Continuous Space-Time is presented. The wave equation of time into absolutely stationary empty space referential will be described in detail. The complex time, that is the time fixed on the infinite phase time speed referential, is deduced from the New View of Relativity Theory that is being submitted simultaneously with this article in this congress. Finally considering the inseparable Space-Time is presented the duality equation wave-particle.

  20. EIA model documentation: Electricity market module - electricity fuel dispatch

    International Nuclear Information System (INIS)

    1997-01-01

    This report documents the National Energy Modeling System Electricity Fuel Dispatch Submodule (EFD), a submodule of the Electricity Market Module (EMM) as it was used for EIA's Annual Energy Outlook 1997. It replaces previous documentation dated March 1994 and subsequent yearly update revisions. The report catalogues and describes the model assumptions, computational methodology, parameter estimation techniques, model source code, and forecast results generated through the synthesis and scenario development based on these components. This document serves four purposes. First, it is a reference document providing a detailed description of the model for reviewers and potential users of the EFD including energy experts at the Energy Information Administration (EIA), other Federal agencies, state energy agencies, private firms such as utilities and consulting firms, and non-profit groups such as consumer and environmental groups. Second, this report meets the legal requirement of the Energy Information Administration (EIA) to provide adequate documentation in support of its statistical and forecast reports. Third, it facilitates continuity in model development by providing documentation which details model enhancements that were undertaken for AE097 and since the previous documentation. Last, because the major use of the EFD is to develop forecasts, this documentation explains the calculations, major inputs and assumptions which were used to generate the AE097

  1. EIA model documentation: Electricity market module - electricity fuel dispatch

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-01-01

    This report documents the National Energy Modeling System Electricity Fuel Dispatch Submodule (EFD), a submodule of the Electricity Market Module (EMM) as it was used for EIA`s Annual Energy Outlook 1997. It replaces previous documentation dated March 1994 and subsequent yearly update revisions. The report catalogues and describes the model assumptions, computational methodology, parameter estimation techniques, model source code, and forecast results generated through the synthesis and scenario development based on these components. This document serves four purposes. First, it is a reference document providing a detailed description of the model for reviewers and potential users of the EFD including energy experts at the Energy Information Administration (EIA), other Federal agencies, state energy agencies, private firms such as utilities and consulting firms, and non-profit groups such as consumer and environmental groups. Second, this report meets the legal requirement of the Energy Information Administration (EIA) to provide adequate documentation in support of its statistical and forecast reports. Third, it facilitates continuity in model development by providing documentation which details model enhancements that were undertaken for AE097 and since the previous documentation. Last, because the major use of the EFD is to develop forecasts, this documentation explains the calculations, major inputs and assumptions which were used to generate the AE097.

  2. Space Particle Hazard Measurement and Modeling

    Science.gov (United States)

    2007-11-30

    the spacecraft and perturbations of the environment generated by the spacecraft. Koons et al. (1999) compiled and studied all spacecraft anomalies...unrealistic for D12 than for Dα0p). However, unlike the stability problems associated with the original cross diffusion terms, they are quite manageable ...E), to mono-energetic beams of charged particles of known energies which enables one, in principle , to unfold the space environment spectrum, j(E

  3. Applying an international CAPM to herding behaviour model for integrated stock markets

    Directory of Open Access Journals (Sweden)

    Najmudin Najmudin

    2017-12-01

    Full Text Available Development of financial globalization in the form of stock market integration experiences a trend which is getting stronger. The analysis models in the field of finance and investments should be able to adjust to these developments. This adjustment includes the models used to detect the existence of herding behavior. All this time, the herding behavior model of individual stocks towards market consensus has been referring to CAPM theory. The basic assumption of CAPM is that financial assets at a domestic stock market are segmented from the financial assets’ movement at the global market. Therefore, this paper aims to provide an alternative view in the form of an international herding model that should be applied in the context of an integrated stock market. The model was created with reference to the international CAPM. This paper combined ICAPM method and international CSAD model to identify herding for eight stock markets, the sample period being from January 2003 to December 2016. The result found that for segmented stock markets, represented by China and the Philippines, herding happened for both overall the sample period and the market crisis period. In addition, for the integrated stock markets, represented by Indonesia, Japan, Malaysia, Singapore, Thailand, and the UK, herding behavior was only found during the market crisis period. Therefore, classification of market integrations should be considered in assessing the herding behaviour at stock markets.

  4. Modeling of the financial market using the two-dimensional anisotropic Ising model

    Science.gov (United States)

    Lima, L. S.

    2017-09-01

    We have used the two-dimensional classical anisotropic Ising model in an external field and with an ion single anisotropy term as a mathematical model for the price dynamics of the financial market. The model presented allows us to test within the same framework the comparative explanatory power of rational agents versus irrational agents with respect to the facts of financial markets. We have obtained the mean price in terms of the strong of the site anisotropy term Δ which reinforces the sensitivity of the agent's sentiment to external news.

  5. Rational energy use and the gas utility. An economic analysis of energy efficiency strategies on the space heating market

    International Nuclear Information System (INIS)

    Helle, C.

    1994-01-01

    Apart from the political authorities, also the supply utilities may contribute to a more widespread rational energy use. This investigtion focuses on the gas utilities, which have a wide range of options for higher energy efficiency, especially on the space heating market. These options are analyzed in the framework of the process of company straategy planning. Particular interest is taken in the product-political strategy of forward integration. (orig.) [de

  6. Business innovation symposium ‘At what price? IP-related thoughts on new business models for space information’

    Science.gov (United States)

    Smith, Lesley Jane

    2011-09-01

    Spatial data and imagery generators are set to become tomorrow's key players in the information society. This is why satellite owners and operators are examining new revenue-producing models for developing space-related products and services. The use and availability of broadband internet width and satellite data-based services will continue to increase in the future. With the capacity to deliver real time precision downstream data, space agencies and the satellite industry can respond to the demand for high resolution digital space information which, with the appropriate technology, can be integrated into a variety of web-based applications. At a time when the traditional roles of space agencies are becoming more hybrid, largely as a result of the greater drive towards commercial markets, new value-added markets for space-related information products are continuing to attract attention. This paper discusses whether traditional data policies on space data access and IP licensing schemes stand to remain the feasible prototype for distributing and marketing space data, and how this growth market might benefit from looking at an 'up and running' global IP management system already operating to manage end user digital demand. PrefaceThe terminology describing the various types of spatial data and space-based information is not uniformly used within the various principles, laws and policies that govern space data. For convenience only this paper refers to primary or raw data gathered by the space-based industry as spatial or raw data, and the data as processed and sold on or distributed by ground-based companies as space information products and services. In practise, spatial data range from generic to specific data sets, digital topography, through to pictures and imagery services at various resolutions, with 3-D perspectives underway. The paper addresses general IP considerations relating to spatial data, with some reference to remote sensing itself. Exact IP details

  7. Track structure model of cell damage in space flight

    Science.gov (United States)

    Katz, Robert; Cucinotta, Francis A.; Wilson, John W.; Shinn, Judy L.; Ngo, Duc M.

    1992-01-01

    The phenomenological track-structure model of cell damage is discussed. A description of the application of the track-structure model with the NASA Langley transport code for laboratory and space radiation is given. Comparisons to experimental results for cell survival during exposure to monoenergetic, heavy-ion beams are made. The model is also applied to predict cell damage rates and relative biological effectiveness for deep-space exposures.

  8. Mathematical Model of the Public Understanding of Space Science

    Science.gov (United States)

    Prisniakov, V.; Prisniakova, L.

    The success in deployment of the space programs now in many respects depends on comprehension by the citizens of necessity of programs, from "space" erudition of country. Purposefulness and efficiency of the "space" teaching and educational activity depend on knowledge of relationships between separate variables of such process. The empirical methods of ``space'' well-information of the taxpayers should be supplemented by theoretical models permitting to demonstrate a ways of control by these processes. Authors on the basis of their experience of educational activity during 50- years of among the students of space-rocket profession obtain an equation of ``space" state of the society determining a degree of its knowledge about Space, about achievements in its development, about indispensable lines of investigations, rates of informatization of the population. It is supposed, that the change of the space information consists of two parts: (1) - from going of the information about practical achievements, about development special knowledge requiring of independent financing, and (2) from intensity of dissemination of the ``free" information of a general educational line going to the population through mass-media, book, in family, in educational institutions, as a part of obligatory knowledge of any man, etc. In proposed model the level space well-information of the population depends on intensity of dissemination in the society of the space information, and also from a volume of financing of space-rocket technology, from a part of population of the employment in the space-rocket programs, from a factor of education of the population in adherence to space problems, from welfare and mentality of the people, from a rate of unemployment and material inequality. Obtained in the report on these principles the equation of a space state of the society corresponds to catastrophe such as cusp, the analysis has shown which one ways of control of the public understanding of space

  9. Preliminary Multi-Variable Parametric Cost Model for Space Telescopes

    Science.gov (United States)

    Stahl, H. Philip; Hendrichs, Todd

    2010-01-01

    This slide presentation reviews creating a preliminary multi-variable cost model for the contract costs of making a space telescope. There is discussion of the methodology for collecting the data, definition of the statistical analysis methodology, single variable model results, testing of historical models and an introduction of the multi variable models.

  10. Modeling the economics and market adoption of distributed power generation

    International Nuclear Information System (INIS)

    Maribu, Karl Magnus

    2006-01-01

    After decades of power generating units increasing in size, there is currently a growing focus on distributed generation, power generation close to energy loads. Investments in large-scale units have been driven by economy of scale, but recent technological improvements on small generating plants have made it possible to exploit the benefits of local power generation to a larger extent than previously. Distributed generation can improve power system efficiency because heat can be recovered from thermal units to supply heat and thermally activated cooling, and because small-scale renewables have a promising end-user market. Further benefits of distributed generation include improved reliability, deferral of often controversial and costly grid investments and reduction of grid losses. The new appeal of small-scale power generation means that there is a need for new tools to analyze distributed generation, both from a system perspective and from the perspective of potential developers. In this thesis, the focus is on the value of power generation for end-users. The thesis identifies how an end-user can find optimal distributed generation systems and investment strategies under a variety of economic and regulatory scenarios. The final part of the thesis extends the analysis with a bottom up model of how the economics of distributed generation for a representative set of building types can transfer to technology diffusion in a market. Four separate research papers make up the thesis. In the first paper, Optimal Investment Strategies in Decentralized Renewable Power Generation under Uncertainty, a method for evaluation of investments in renewable power units under price uncertainty is presented. It is assumed the developer has a building with an electricity load and a renewable power resource. The case study compares a set of wind power systems with different capacity and finds that capacity depends on the electricity price and that there under uncertain prices can be a

  11. Superfield Lax formalism of supersymmetric sigma model on symmetric spaces

    International Nuclear Information System (INIS)

    Saleem, U.; Hassan, M.

    2006-01-01

    We present a superfield Lax formalism of the superspace sigma model based on the target space G/H and show that a one-parameter family of flat superfield connections exists if the target space G/H is a symmetric space. The formalism has been related to the existence of an infinite family of local and non-local superfield conserved quantities. A few examples have been given to illustrate the results. (orig.)

  12. Gravity mediated Dark Matter models in the de Sitter space

    OpenAIRE

    Vancea, Ion V.

    2018-01-01

    In this paper, we generalize the simplified Dark Matter models with graviton mediator to the curved space-time, in particular to the de Sitter space. We obtain the generating functional of the Green's functions in the Euclidean de Sitter space for the covariant free gravitons. We determine the generating functional of the interacting theory between Dark Matter particles and the covariant gravitons. Also, we calculate explicitly the 2-point and 3-point interacting Green's functions for the sym...

  13. Modeling IPO In Dubai Stock Market: Booming Or Tumbling Return?

    OpenAIRE

    Viviane Y. Naïmy

    2011-01-01

    This paper examines the impact of IPO on Dubai Stock Market. We measured through detailed distribution analysis and hypothesis testing the Dubai markets reaction to IPO. We demonstrated that IPO had downbeat impact on Dubai market performance in terms of return as revealed by the rejection of the alternative hypothesis. The independency between market return and IPO was partially attributed to irrational valuations at the time of IPO.

  14. Space Science Cloud: a Virtual Space Science Research Platform Based on Cloud Model

    Science.gov (United States)

    Hu, Xiaoyan; Tong, Jizhou; Zou, Ziming

    Through independent and co-operational science missions, Strategic Pioneer Program (SPP) on Space Science, the new initiative of space science program in China which was approved by CAS and implemented by National Space Science Center (NSSC), dedicates to seek new discoveries and new breakthroughs in space science, thus deepen the understanding of universe and planet earth. In the framework of this program, in order to support the operations of space science missions and satisfy the demand of related research activities for e-Science, NSSC is developing a virtual space science research platform based on cloud model, namely the Space Science Cloud (SSC). In order to support mission demonstration, SSC integrates interactive satellite orbit design tool, satellite structure and payloads layout design tool, payload observation coverage analysis tool, etc., to help scientists analyze and verify space science mission designs. Another important function of SSC is supporting the mission operations, which runs through the space satellite data pipelines. Mission operators can acquire and process observation data, then distribute the data products to other systems or issue the data and archives with the services of SSC. In addition, SSC provides useful data, tools and models for space researchers. Several databases in the field of space science are integrated and an efficient retrieve system is developing. Common tools for data visualization, deep processing (e.g., smoothing and filtering tools), analysis (e.g., FFT analysis tool and minimum variance analysis tool) and mining (e.g., proton event correlation analysis tool) are also integrated to help the researchers to better utilize the data. The space weather models on SSC include magnetic storm forecast model, multi-station middle and upper atmospheric climate model, solar energetic particle propagation model and so on. All the services above-mentioned are based on the e-Science infrastructures of CAS e.g. cloud storage and

  15. Validation of nuclear models used in space radiation shielding applications

    International Nuclear Information System (INIS)

    Norman, Ryan B.; Blattnig, Steve R.

    2013-01-01

    A program of verification and validation has been undertaken to assess the applicability of models to space radiation shielding applications and to track progress as these models are developed over time. In this work, simple validation metrics applicable to testing both model accuracy and consistency with experimental data are developed. The developed metrics treat experimental measurement uncertainty as an interval and are therefore applicable to cases in which epistemic uncertainty dominates the experimental data. To demonstrate the applicability of the metrics, nuclear physics models used by NASA for space radiation shielding applications are compared to an experimental database consisting of over 3600 experimental cross sections. A cumulative uncertainty metric is applied to the question of overall model accuracy, while a metric based on the median uncertainty is used to analyze the models from the perspective of model development by examining subsets of the model parameter space.

  16. Payload maintenance cost model for the space telescope

    Science.gov (United States)

    White, W. L.

    1980-01-01

    An optimum maintenance cost model for the space telescope for a fifteen year mission cycle was developed. Various documents and subsequent updates of failure rates and configurations were made. The reliability of the space telescope for one year, two and one half years, and five years were determined using the failure rates and configurations. The failure rates and configurations were also used in the maintenance simulation computer model which simulate the failure patterns for the fifteen year mission life of the space telescope. Cost algorithms associated with the maintenance options as indicated by the failure patterns were developed and integrated into the model.

  17. State-space prediction model for chaotic time series

    Science.gov (United States)

    Alparslan, A. K.; Sayar, M.; Atilgan, A. R.

    1998-08-01

    A simple method for predicting the continuation of scalar chaotic time series ahead in time is proposed. The false nearest neighbors technique in connection with the time-delayed embedding is employed so as to reconstruct the state space. A local forecasting model based upon the time evolution of the topological neighboring in the reconstructed phase space is suggested. A moving root-mean-square error is utilized in order to monitor the error along the prediction horizon. The model is tested for the convection amplitude of the Lorenz model. The results indicate that for approximately 100 cycles of the training data, the prediction follows the actual continuation very closely about six cycles. The proposed model, like other state-space forecasting models, captures the long-term behavior of the system due to the use of spatial neighbors in the state space.

  18. Properties of Brownian Image Models in Scale-Space

    DEFF Research Database (Denmark)

    Pedersen, Kim Steenstrup

    2003-01-01

    Brownian images) will be discussed in relation to linear scale-space theory, and it will be shown empirically that the second order statistics of natural images mapped into jet space may, within some scale interval, be modeled by the Brownian image model. This is consistent with the 1/f 2 power spectrum...... law that apparently governs natural images. Furthermore, the distribution of Brownian images mapped into jet space is Gaussian and an analytical expression can be derived for the covariance matrix of Brownian images in jet space. This matrix is also a good approximation of the covariance matrix......In this paper it is argued that the Brownian image model is the least committed, scale invariant, statistical image model which describes the second order statistics of natural images. Various properties of three different types of Gaussian image models (white noise, Brownian and fractional...

  19. A Learning State-Space Model for Image Retrieval

    Directory of Open Access Journals (Sweden)

    Lee Greg C

    2007-01-01

    Full Text Available This paper proposes an approach based on a state-space model for learning the user concepts in image retrieval. We first design a scheme of region-based image representation based on concept units, which are integrated with different types of feature spaces and with different region scales of image segmentation. The design of the concept units aims at describing similar characteristics at a certain perspective among relevant images. We present the details of our proposed approach based on a state-space model for interactive image retrieval, including likelihood and transition models, and we also describe some experiments that show the efficacy of our proposed model. This work demonstrates the feasibility of using a state-space model to estimate the user intuition in image retrieval.

  20. Gas analysis modeling system forecast for the Energy Modeling Forum North American Natural Gas Market Study

    International Nuclear Information System (INIS)

    Mariner-Volpe, B.; Trapmann, W.

    1989-01-01

    The Gas Analysis Modeling System is a large computer-based model for analyzing the complex US natural gas industry, including production, transportation, and consumption activities. The model was developed and first used in 1982 after the passage of the NGPA, which initiated a phased decontrol of most natural gas prices at the wellhead. The categorization of gas under the NGPA and the contractual nature of the natural gas market, which existed at the time, were primary factors in the development of the basic structure of the model. As laws and regulations concerning the natural gas market have changed, the model has evolved accordingly. Recent increases in competition in the wellhead market have also led to changes in the model. GAMS produces forecasts of natural gas production, consumption, and prices annually through 2010. It is an engineering-economic model that incorporates several different mathematical structures in order to represent the interaction of the key groups involved in the natural gas market. GAMS has separate supply and demand components that are equilibrated for each year of the forecast by means of a detailed transaction network

  1. Modeling investor sentiment and overconfidence in an agent-based stock market

    NARCIS (Netherlands)

    Lovric, M.; Kaymak, U.; Spronk, J.

    2010-01-01

    Agent-based stock markets as bottom-up models of financial markets allow us to study the link between individual investor behavior and aggregate market phenomena, and as such are a useful tool for investigating the implications of behavioral finance and investor psychology. In this paper we want to

  2. Modeling category-level purchase timing with brand-level marketing variables

    NARCIS (Netherlands)

    D. Fok (Dennis); R. Paap (Richard)

    2003-01-01

    textabstractPurchase timing of households is usually modeled at the category level. Marketing efforts are however only available at the brand level. Hence, to describe category-level interpurchase times using marketing efforts one has to construct a category-level measure of marketing efforts from

  3. A Simulation and Modeling Framework for Space Situational Awareness

    International Nuclear Information System (INIS)

    Olivier, S.S.

    2008-01-01

    This paper describes the development and initial demonstration of a new, integrated modeling and simulation framework, encompassing the space situational awareness enterprise, for quantitatively assessing the benefit of specific sensor systems, technologies and data analysis techniques. The framework is based on a flexible, scalable architecture to enable efficient, physics-based simulation of the current SSA enterprise, and to accommodate future advancements in SSA systems. In particular, the code is designed to take advantage of massively parallel computer systems available, for example, at Lawrence Livermore National Laboratory. The details of the modeling and simulation framework are described, including hydrodynamic models of satellite intercept and debris generation, orbital propagation algorithms, radar cross section calculations, optical brightness calculations, generic radar system models, generic optical system models, specific Space Surveillance Network models, object detection algorithms, orbit determination algorithms, and visualization tools. The use of this integrated simulation and modeling framework on a specific scenario involving space debris is demonstrated

  4. I-deas TMG to NX Space Systems Thermal Model Conversion and Computational Performance Comparison

    Science.gov (United States)

    Somawardhana, Ruwan

    2011-01-01

    CAD/CAE packages change on a continuous basis as the power of the tools increase to meet demands. End -users must adapt to new products as they come to market and replace legacy packages. CAE modeling has continued to evolve and is constantly becoming more detailed and complex. Though this comes at the cost of increased computing requirements Parallel processing coupled with appropriate hardware can minimize computation time. Users of Maya Thermal Model Generator (TMG) are faced with transitioning from NX I -deas to NX Space Systems Thermal (SST). It is important to understand what differences there are when changing software packages We are looking for consistency in results.

  5. Space ecoliteracy- five informal education models for community empowerment

    Science.gov (United States)

    Venkataramaiah, Jagannatha; Jagannath, Sahana; J, Spandana; J, Sadhana; Jagannath, Shobha

    Space ecoliteracy is a historical necessity and vital aspect of space age.Space Situational Awareness has taught lessons for mankind to look inward while stretching beyond cradle in human endeavours. Quality of life for every one on the only home of mankind-TERRA shall be a feasibility only after realizing Space ecoliteracy amongst all stakeholders in space quest. Objectives of Informal Environmental Education(UNESCO/UNEP/IEEP,1977) mandates awareness, attitude, knowledge, skill and participation at Individual and Community domains. Application of Space Technology at both Telecommunications and Remote Sensing domain have started making the fact that mankind has a challenge to learn and affirm earthmanship. Community empowerment focus after Earth Summit 1992 mandate of Sustainable Development has demonstrated a deluge of best practices in Agriculture,Urban, Industries and service sectors all over the globe. Further, deployment of Space technologies have proved the immense potential only after pre-empting the participatory approach at individual and community levels.Indian Space Programme with its 44th year of space service to national development has demonstrated self reliance in space technology for human development. Space technology for the most underdeveloped is a success story both in communication and information tools for quality of life. In this presentation Five Space Ecoliteracy models designed and validated since 1985 till date on informal environmental education namely 1) Ecological Environmental Studies by Students-EESS (1988): cited as one of the 20 best eco -education models by Earth Day Network,2)Community Eco Literacy Campaign-CEL,(2000): cited as a partner under Clean Up the World Campaign,UN, 3) Space Eco Literacy(2011)-an informa 8 week space eco literacy training reported at 39th COSPAR 12 assembly and 4) Space Eco Literacy by Practice(2014)- interface with formal education at institutions and 5) Space Ecoliteracy Mission as a space out reach in

  6. Field space entanglement entropy, zero modes and Lifshitz models

    Science.gov (United States)

    Huffel, Helmuth; Kelnhofer, Gerald

    2017-12-01

    The field space entanglement entropy of a quantum field theory is obtained by integrating out a subset of its fields. We study an interacting quantum field theory consisting of massless scalar fields on a closed compact manifold M. To this model we associate its Lifshitz dual model. The ground states of both models are invariant under constant shifts. We interpret this invariance as gauge symmetry and subject the models to proper gauge fixing. By applying the heat kernel regularization one can show that the field space entanglement entropies of the massless scalar field model and of its Lifshitz dual are agreeing.

  7. Field space entanglement entropy, zero modes and Lifshitz models

    Directory of Open Access Journals (Sweden)

    Helmuth Huffel

    2017-12-01

    Full Text Available The field space entanglement entropy of a quantum field theory is obtained by integrating out a subset of its fields. We study an interacting quantum field theory consisting of massless scalar fields on a closed compact manifold M. To this model we associate its Lifshitz dual model. The ground states of both models are invariant under constant shifts. We interpret this invariance as gauge symmetry and subject the models to proper gauge fixing. By applying the heat kernel regularization one can show that the field space entanglement entropies of the massless scalar field model and of its Lifshitz dual are agreeing.

  8. Foundations for the post 2030 space economy: Cislunar and lunar infrastructure, Moon Village, Mars and planetary missions as markets.

    Science.gov (United States)

    Beldavs, Vid; Dunlop, David; Crisafulli, Jim; Bernard, Foing

    2016-04-01

    Introduction: The International Lunar Decade (ILD)[1] is a framework for international collaboration from 2020 to 2030 to achieve the ultimate goal in space -- to open the space frontier. Key to opening a frontier is the capacity to "live off the land" through in situ resource utilization (ISRU). Activities in space will remain limited to exploration until ISRU becomes possible on an industrial scale. ISRU, the mining and use of resources on the Moon, asteroids, comets and other cosmic bodies will enable the opening of the space frontier for permanent occupancy and settlement. The capacity for ISRU creates the basis for a space economy where products and services are traded for resources, and increasingly sophisticated products can be produced from mined resources to help sustain life indefinitely. Enabling ISRU will require infrastructure - energy, transportation, and communications systems, as well as navigation, storage and other support services. However, regolith or other lunar/asteroid material will remain regolith until converted to a form useful to customers that will enable the development of markets. NASA's Mars journey, various planetary missions, and emerging operations on the lunar surface and at EML1 and EML2 will provide initial markets for ISRU. This paper will explore a scenario explaining how a self-sustaining space economy can be achieved by 2030, what kind of infrastructure will need to be developed, the role of NASA's Mars Journey in the creation of markets for ISRU, and the role of private-public partnership for financing the various building blocks of a self-sustaining space economy. Also dis-cussed will be the potential for a Moon Village to serve as a formative structure for the nucleation of elements of an emerging space economy, including its potential role as a forum for actors to play a role in the development of governance mechanisms that eventually would enable commercial and industrial development of the Moon. References: [1] Beldavs

  9. Numerical modelling of elastic space tethers

    DEFF Research Database (Denmark)

    Kristiansen, Kristian Uldall; Palmer, P. L.; Roberts, R. M.

    2012-01-01

    In this paper the importance of the ill-posedness of the classical, non-dissipative massive tether model on an orbiting tether system is studied numerically. The computations document that via the regularisation of bending resistance a more reliable numerical integrator can be produced. Furthermo....... It is also shown that on the slow manifold the dynamics of the satellites are well-approximated by the finite dimensional slack-spring model....

  10. The Displacement Effect of Labour-Market Programs: Estimates from the MONASH Model

    OpenAIRE

    Peter B. Dixon; Maureen T. Rimmer

    2005-01-01

    A key question concerning labour-market programs is the extent to which they generate jobs for their target group at the expense of others. This effect is measured by displacement percentages. We describe a version of the MONASH model designed to quantify the effects of labour-market programs. Our simulation results suggests that: (1) labour-market programs can generate significant long-run increases in employment; (2) displacement percentages depend on how a labour-market program affects the...

  11. Modeling category-level purchase timing with brand-level marketing variables

    OpenAIRE

    Fok, D.; Paap, R.

    2003-01-01

    textabstractPurchase timing of households is usually modeled at the category level. Marketing efforts are however only available at the brand level. Hence, to describe category-level interpurchase times using marketing efforts one has to construct a category-level measure of marketing efforts from the marketing mix of individual brands. In this paper we discuss two standard approaches suggested in the literature to solve this problem, that is, using individual choice shares as weights to aver...

  12. Calibrating emergent phenomena in stock markets with agent based models.

    Science.gov (United States)

    Fievet, Lucas; Sornette, Didier

    2018-01-01

    Since the 2008 financial crisis, agent-based models (ABMs), which account for out-of-equilibrium dynamics, heterogeneous preferences, time horizons and strategies, have often been envisioned as the new frontier that could revolutionise and displace the more standard models and tools in economics. However, their adoption and generalisation is drastically hindered by the absence of general reliable operational calibration methods. Here, we start with a different calibration angle that qualifies an ABM for its ability to achieve abnormal trading performance with respect to the buy-and-hold strategy when fed with real financial data. Starting from the common definition of standard minority and majority agents with binary strategies, we prove their equivalence to optimal decision trees. This efficient representation allows us to exhaustively test all meaningful single agent models for their potential anomalous investment performance, which we apply to the NASDAQ Composite index over the last 20 years. We uncover large significant predictive power, with anomalous Sharpe ratio and directional accuracy, in particular during the dotcom bubble and crash and the 2008 financial crisis. A principal component analysis reveals transient convergence between the anomalous minority and majority models. A novel combination of the optimal single-agent models of both classes into a two-agents model leads to remarkable superior investment performance, especially during the periods of bubbles and crashes. Our design opens the field of ABMs to construct novel types of advanced warning systems of market crises, based on the emergent collective intelligence of ABMs built on carefully designed optimal decision trees that can be reversed engineered from real financial data.

  13. Calibrating emergent phenomena in stock markets with agent based models

    Science.gov (United States)

    Sornette, Didier

    2018-01-01

    Since the 2008 financial crisis, agent-based models (ABMs), which account for out-of-equilibrium dynamics, heterogeneous preferences, time horizons and strategies, have often been envisioned as the new frontier that could revolutionise and displace the more standard models and tools in economics. However, their adoption and generalisation is drastically hindered by the absence of general reliable operational calibration methods. Here, we start with a different calibration angle that qualifies an ABM for its ability to achieve abnormal trading performance with respect to the buy-and-hold strategy when fed with real financial data. Starting from the common definition of standard minority and majority agents with binary strategies, we prove their equivalence to optimal decision trees. This efficient representation allows us to exhaustively test all meaningful single agent models for their potential anomalous investment performance, which we apply to the NASDAQ Composite index over the last 20 years. We uncover large significant predictive power, with anomalous Sharpe ratio and directional accuracy, in particular during the dotcom bubble and crash and the 2008 financial crisis. A principal component analysis reveals transient convergence between the anomalous minority and majority models. A novel combination of the optimal single-agent models of both classes into a two-agents model leads to remarkable superior investment performance, especially during the periods of bubbles and crashes. Our design opens the field of ABMs to construct novel types of advanced warning systems of market crises, based on the emergent collective intelligence of ABMs built on carefully designed optimal decision trees that can be reversed engineered from real financial data. PMID:29499049

  14. Stochastic Modeling of Wind Derivatives in Energy Markets

    Directory of Open Access Journals (Sweden)

    Fred Espen Benth

    2018-05-01

    Full Text Available We model the logarithm of the spot price of electricity with a normal inverse Gaussian (NIG process and the wind speed and wind power production with two Ornstein–Uhlenbeck processes. In order to reproduce the correlation between the spot price and the wind power production, namely between a pure jump process and a continuous path process, respectively, we replace the small jumps of the NIG process by a Brownian term. We then apply our models to two different problems: first, to study from the stochastic point of view the income from a wind power plant, as the expected value of the product between the electricity spot price and the amount of energy produced; then, to construct and price a European put-type quanto option in the wind energy markets that allows the buyer to hedge against low prices and low wind power production in the plant. Calibration of the proposed models and related price formulas is also provided, according to specific datasets.

  15. Biofuel market and carbon modeling to evaluate French biofuel policy

    International Nuclear Information System (INIS)

    Bernard, F.; Prieur, A.

    2006-10-01

    In order to comply with European objectives, France has set up an ambitious biofuel plan. This plan is evaluated considering two criteria: tax exemption need and GHG emission savings. An economic marginal analysis and a life cycle assessment (LCA) are provided using a coupling procedure between a partial agro-industrial equilibrium model and a refining optimization model. Thus, we are able to determine the minimum tax exemption needed to place on the market a targeted quantity of biofuel by deducing the agro-industrial marginal cost of biofuel production to the biofuel refining long-run marginal revenue. In parallel, a biofuels LCA is carried out using model outputs. Such a method avoid common allocation problems between joint products. The French biofuel plan is evaluated for 2008, 2010 and 2012 using prospective scenarios. Results suggest that biofuel competitiveness depends on crude oil prices and petroleum products demands. Consequently, biofuel tax exemption does not always appear to be necessary. LCA results show that biofuels production and use, from 'seed to wheel', would facilitate the French Government's to compliance with its 'Plan Climat' objectives by reducing up to 5% GHG emissions in the French road transport sector by 2010. (authors)

  16. A Situative Space Model for Mobile Mixed-Reality Computing

    DEFF Research Database (Denmark)

    Pederson, Thomas; Janlert, Lars-Erik; Surie, Dipak

    2011-01-01

    This article proposes a situative space model that links the physical and virtual realms and sets the stage for complex human-computer interaction defined by what a human agent can see, hear, and touch, at any given point in time.......This article proposes a situative space model that links the physical and virtual realms and sets the stage for complex human-computer interaction defined by what a human agent can see, hear, and touch, at any given point in time....

  17. SYSTEMIC RESEARCH MODEL OF DEVELOPMENT OF MARKETING THOUGHT AND EDUCATION IN CROATIA

    OpenAIRE

    Renko, Nataša

    2001-01-01

    The author conceived the model for systemic research of development of marketing thought and education in Croatia. The model consists of six elements which are completely interactive and have essential influence on development of marketing educational system. The model also helped to evaluate historical occurences which had preceded and influenced the present situation in Croatia, and which might have possible consequences to future development of marketing educational system in Croatia.

  18. The Model of Integrated Marketing Communication: Who has the Role to Influence Consumer Behaviour

    OpenAIRE

    Olimpia Elena Mihaela Oancea

    2015-01-01

    The purpose of this paper is proposes a theoretical framework to investigate the models of integrated marketing communication that can influence the consumer behaviour, and the development a model of integrated marketing communication. The research goals aim the following aspects: (a) The analyze of the IMC concept; (b) Identifying and analyzing the main models of integrated marketing communication that can influence the consumer behaviour; (c) Identifying the variables that wi...

  19. A reference model for space data system interconnection services

    Science.gov (United States)

    Pietras, John; Theis, Gerhard

    1993-01-01

    The widespread adoption of standard packet-based data communication protocols and services for spaceflight missions provides the foundation for other standard space data handling services. These space data handling services can be defined as increasingly sophisticated processing of data or information received from lower-level services, using a layering approach made famous in the International Organization for Standardization (ISO) Open System Interconnection Reference Model (OSI-RM). The Space Data System Interconnection Reference Model (SDSI-RM) incorporates the conventions of the OSIRM to provide a framework within which a complete set of space data handling services can be defined. The use of the SDSI-RM is illustrated through its application to data handling services and protocols that have been defined by, or are under consideration by, the Consultative Committee for Space Data Systems (CCSDS).

  20. Space engineering modeling and optimization with case studies

    CERN Document Server

    Pintér, János

    2016-01-01

    This book presents a selection of advanced case studies that cover a substantial range of issues and real-world challenges and applications in space engineering. Vital mathematical modeling, optimization methodologies and numerical solution aspects of each application case study are presented in detail, with discussions of a range of advanced model development and solution techniques and tools. Space engineering challenges are discussed in the following contexts: •Advanced Space Vehicle Design •Computation of Optimal Low Thrust Transfers •Indirect Optimization of Spacecraft Trajectories •Resource-Constrained Scheduling, •Packing Problems in Space •Design of Complex Interplanetary Trajectories •Satellite Constellation Image Acquisition •Re-entry Test Vehicle Configuration Selection •Collision Risk Assessment on Perturbed Orbits •Optimal Robust Design of Hybrid Rocket Engines •Nonlinear Regression Analysis in Space Engineering< •Regression-Based Sensitivity Analysis and Robust Design ...

  1. Validation of ecological state space models using the Laplace approximation

    DEFF Research Database (Denmark)

    Thygesen, Uffe Høgsbro; Albertsen, Christoffer Moesgaard; Berg, Casper Willestofte

    2017-01-01

    Many statistical models in ecology follow the state space paradigm. For such models, the important step of model validation rarely receives as much attention as estimation or hypothesis testing, perhaps due to lack of available algorithms and software. Model validation is often based on a naive...... for estimation in general mixed effects models. Implementing one-step predictions in the R package Template Model Builder, we demonstrate that it is possible to perform model validation with little effort, even if the ecological model is multivariate, has non-linear dynamics, and whether observations...... useful directions in which the model could be improved....

  2. Phase space model for transmission of light beam

    International Nuclear Information System (INIS)

    Fu Shinian

    1989-01-01

    Based on Fermat's principle of ray optics, the Hamiltonian of an optical ray is derived by comparison with classical mechanics. A phase space model of light beam is proposed, assuming that the light beam, regarded as a group of rays, can be described by an ellipse in the μ-phase space. Therefore, the transmission of light beam is represented by the phase space matrix transformation. By means of this non-wave formulation, the same results are obtained as those from wave equation such as Kogelnik's ABCD law. As an example of the application on this model, the matching problem of optical cavity is solved

  3. Documentation of the petroleum market model (PMM). Appendix: Model developer's report

    International Nuclear Information System (INIS)

    1994-01-01

    The Office of Integrated Analysis and Forecasting (OIAF) is required to provide complete model documentation to meet the EIA Model Acceptance Standards. The EIA Model Documentation: Petroleum Market Model of the National Energy Modeling System provides a complete description of the Petroleum Market Model's (PMM) methodology, and relation to other modules in the National Energy Modeling System (NEMS). This Model Developer's Report (MDR) serves as an appendix to the methodology documentation and provides an assessment of the sensitivity of PMM results to changes in input data. The MDR analysis for PMM is performed by varying several sets of input variables one-at-a-time and examining the effect on a set of selected output variables. The analysis is based on stand-alone, rather than integrated, National Energy Modeling System (NEMS) runs. This means that other NEMS modules are not responding to PMM outputs. The PMM models petroleum refining and marketing. The purpose of the PMM is to project petroleum product prices, refining activities, and movements of petroleum into the United States and among domestic regions. In addition, the PMM estimates capacity expansion and fuel consumption in, the refining industry. The PMM is also used to analyze a wide variety of petroleum-related issues and policies, in order to foster better understanding of the petroleum refining and marketing industry and the effects of certain policies and regulations. The PMM simulates the operation of petroleum refineries in the United States, including the supply and transportation of crude oil to refineries, the regional processing of these raw materials into petroleum products, and the distribution of petroleum products to meet regional demands. The essential outputs of this model are product prices, a petroleum supply/demand balance, demands for refinery fuel use, and capacity expansion

  4. Computational Fluid Dynamics Model for Saltstone Vault 4 Vapor Space

    International Nuclear Information System (INIS)

    Lee, Si Young

    2005-01-01

    Computational fluid dynamics (CFD) methods have been used to estimate the flow patterns for vapor space inside the Saltstone Vault No.4 under different operating scenarios. The purpose of this work is to examine the gas motions inside the vapor space under the current vault configurations. A CFD model took three-dimensional transient momentum-energy coupled approach for the vapor space domain of the vault. The modeling calculations were based on prototypic vault geometry and expected normal operating conditions as defined by Waste Solidification Engineering. The modeling analysis was focused on the air flow patterns near the ventilated corner zones of the vapor space inside the Saltstone vault. The turbulence behavior and natural convection mechanism used in the present model were benchmarked against the literature information and theoretical results. The verified model was applied to the Saltstone vault geometry for the transient assessment of the air flow patterns inside the vapor space of the vault region using the boundary conditions as provided by the customer. The present model considered two cases for the estimations of the flow patterns within the vapor space. One is the reference baseline case. The other is for the negative temperature gradient between the roof inner and top grout surface temperatures intended for the potential bounding condition. The flow patterns of the vapor space calculated by the CFD model demonstrate that the ambient air comes into the vapor space of the vault through the lower-end ventilation hole, and it gets heated up by the Benard-cell type circulation before leaving the vault via the higher-end ventilation hole. The calculated results are consistent with the literature information

  5. The 1993 timber assessment market model: structure, projections, and policy simulations.

    Science.gov (United States)

    Darius M. Adams; Richard W. Haynes

    1996-01-01

    The 1993 timber assessment market model (TAMM) is a spatial model of the solidwood and timber inventory elements of the U.S. forest products sector. The TAMM model provides annual projections of volumes and prices in the solidwood products and sawtimber stumpage markets and estimates of total timber harvest and inventory by geographic region for periods of up to 50...

  6. Study on the Market Risk Measurement of the Style Portfolios in Stock Markets Based on EVT-t-Copula Model

    Directory of Open Access Journals (Sweden)

    Yuhong Zhou

    2013-03-01

    Full Text Available For the presence of non-normal distribution characteristics in the financial assets returns, the model of AR(1-GJR(1,1 is used to characterize the marginal distribution of the style assets in China stock market. The Copula function is introduced to analyze the dependency structure between the six style assets, combined with the marginal distributed residual sequences. And the joint return distribution of the style portfolios is simulated, combined with extreme value theory and Monte Carlo simulation method. Then the market risks (VaR and CVaR of the style portfolios in China stock markets are obtained. The results of the study show that the generalized Pareto distribution Model can well fit the non-normal distribution characteristics such as peak and fat tail in the style assets returns.

  7. Public relation based model of integrated marketing communications

    OpenAIRE

    Naumovska, Ljupka; Blazeska, Daliborka

    2016-01-01

    The marketing communications industry and theory are facing rapid changes in accordance with global business and society fluctuations. Global and local market conditions are constantly varying and thus creating hardly predictable environment. The most implemented tool for marketing communications – advertising, is losing its power for effective communications; customers are becoming over-advertised and resistant to traditional advertising stimuli. Advertising, as one-way communica...

  8. Nuclear spectroscopy in large shell model spaces: recent advances

    International Nuclear Information System (INIS)

    Kota, V.K.B.

    1995-01-01

    Three different approaches are now available for carrying out nuclear spectroscopy studies in large shell model spaces and they are: (i) the conventional shell model diagonalization approach but taking into account new advances in computer technology; (ii) the recently introduced Monte Carlo method for the shell model; (iii) the spectral averaging theory, based on central limit theorems, in indefinitely large shell model spaces. The various principles, recent applications and possibilities of these three methods are described and the similarity between the Monte Carlo method and the spectral averaging theory is emphasized. (author). 28 refs., 1 fig., 5 tabs

  9. Competition in the market for space heating. District heating as the infrastructure for competition among fuels and technologies

    International Nuclear Information System (INIS)

    Grohnheit, Poul Erik; Gram Mortensen, Bent Ole

    2003-01-01

    None of the EU directives on liberalisation of the electricity and gas markets are considering the district heating systems, although the district heating networks offer the possibility of competition between natural gas and a range of other fuels on the market for space heating. Cogeneration of electricity and heat for industrial processes or district heating is a technology option for increased energy efficiency and thus reduction of CO 2 emissions. In the mid-1990s less than 10% of the electricity generation in the European Union was combined production with significant variations among Member States. These variations are explained by different national legislation and relative power of institutions, rather than difference in industrial structure, climate or urban physical structure. The 'single energy carrier' directives have provisions that support the development of combined heat and power (CHP), but they do not support the development and expansion of the district heating infrastructure. The article is partly based on a contribution to the Shared Analysis Project for the European Commission DG Energy, concerning the penetration of CHP, energy saving, and renewables as instruments to meet the targets of the Kyoto Protocol within the liberalised European energy market. The quantitative and legal differences of the heat markets in selected Member States are described, and the consequences of the directives are discussed. Finally, we summarise the tasks for a European policy concerning the future regulation of district heating networks for CHP, emphasising the need for rules for a fair competition between natural gas and district heating networks

  10. Forward modeling of space-borne gravitational wave detectors

    International Nuclear Information System (INIS)

    Rubbo, Louis J.; Cornish, Neil J.; Poujade, Olivier

    2004-01-01

    Planning is underway for several space-borne gravitational wave observatories to be built in the next 10 to 20 years. Realistic and efficient forward modeling will play a key role in the design and operation of these observatories. Space-borne interferometric gravitational wave detectors operate very differently from their ground-based counterparts. Complex orbital motion, virtual interferometry, and finite size effects complicate the description of space-based systems, while nonlinear control systems complicate the description of ground-based systems. Here we explore the forward modeling of space-based gravitational wave detectors and introduce an adiabatic approximation to the detector response that significantly extends the range of the standard low frequency approximation. The adiabatic approximation will aid in the development of data analysis techniques, and improve the modeling of astrophysical parameter extraction

  11. Models of Marketing Strategies vs. Lotto and Schneider Electric

    OpenAIRE

    Nelbom, Mathies Raaskou; Giersing, Josephine; Olesen, Kåre

    2016-01-01

    This project has the ultimate goal of answering the research question, What are the 4 P’s of marketing mix and SWOT analysis, and how are they implemented within companies? To what extent does Lotto and Schneider Electric implement this these marketing tools? This project goes into depth with the 4P’s within marketing mix, product, promotion, place and price, as well as SWOT analysis. These method of marketing are then applied to the two companies that were interviewed, in order to see how th...

  12. Model documentation coal market module of the National Energy Modeling System

    International Nuclear Information System (INIS)

    1997-02-01

    This report documents the objectives and the conceptual and methodological approach used in the development of the Coal Production Submodule (CPS). It provides a description of the CPS for model analysts and the public. The Coal Market Module provides annual forecasts of prices, production, and consumption of coal

  13. Model documentation Coal Market Module of the National Energy Modeling System

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1996-04-30

    This report documents objectives and conceptual and methodological approach used in the development of the National Energy Modeling System (NEMS) Coal Market Module (CMM) used to develop the Annual Energy Outlook 1996 (AEO96). This report catalogues and describes the assumptions, methodology, estimation techniques, and source code of CMM`s three submodules: Coal Production Submodule, Coal Export Submodule, and Coal Distribution Submodule.

  14. Model documentation coal market module of the National Energy Modeling System

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-02-01

    This report documents the objectives and the conceptual and methodological approach used in the development of the Coal Production Submodule (CPS). It provides a description of the CPS for model analysts and the public. The Coal Market Module provides annual forecasts of prices, production, and consumption of coal.

  15. Biofuel market and carbon modeling to analyse French biofuel policy

    International Nuclear Information System (INIS)

    Bernard, F.; Prieur, A.

    2007-01-01

    In order to comply with European Union objectives, France has set up an ambitious biofuel plan. This plan is evaluated on the basis of two criteria: tax exemption on fossil fuels and greenhouse gases (GHG) emission savings. An economic marginal analysis and a life cycle assessment (LCA) are provided using a coupling procedure between a partial agro-industrial equilibrium model and an oil refining optimization model. Thus, we determine the minimum tax exemption needed to place on the market a targeted quantity of biofuel by deducting the biofuel long-run marginal revenue of refiners from the agro-industrial marginal cost of biofuel production. With a clear view of the refiner's economic choices, total pollutant emissions along the biofuel production chains are quantified and used to feed an LCA. The French biofuel plan is evaluated for 2008, 2010 and 2012 using prospective scenarios. Results suggest that biofuel competitiveness depends on crude oil prices and demand for petroleum products and consequently these parameters should be taken into account by authorities to modulate biofuel tax exemption. LCA results show that biofuel production and use, from 'seed to wheel', would facilitate the French Government's compliance with its 'Plan Climat' objectives by reducing up to 5% GHG emissions in the French road transport sector by 2010

  16. Structural analysis of oligopoly market based on the reflective game model by the example of telecommunication market in Russia

    Directory of Open Access Journals (Sweden)

    Inna A. Biryukova

    2017-12-01

    Full Text Available Objective to analyze the possible structures of the oligopoly market distribution by the example of telecommunication industry in terms of the agentsrsquo reflexive behavior. nbsp Methods game theory economicmathematical modeling. Results the article states that one of the first objects in the game theory is an oligopoly market. Based on the analysis of game theory studies it was found that there is a need to achieve information equilibrium in reflexive games of three agents in the oligopoly market. To solve this problem we analyzed all possible representations of the agents leading to the set of games in the Russian telecommunications market for three agents OJSC ldquoMTSrdquo OJSC ldquoMegafonrdquo and OJSC ldquoVympelcomrdquo. Three reflection grades were studied 1 representations of the agent about other agents 2 representations of the agentrsquos perception of other agents about it and 3 representations of the agent about what its competitors think about the first agentrsquos opinion about the other two. As a result the general patterns were revealed of the expressions of conjectural variations in each case it was proved that further detailing of the reflection is not needed. As a result of calculations the models of informational equilibriums of the Russian telecommunication market were constructed for that the averaged values of the demand and cost functions parameters functions of cellular communication operators were taken. It was also revealed that in 2015 the actual telecommunication market in the Russian Federation qualitatively i.e. by the ratio of market shares was close to equilibrium on condition of first rank reflexive behavior for the case when the market leader OJSC ldquoMTSrdquo represents its counterparties ndash OJSC ldquoMegafonrdquo and OJSC ldquoVympelcomrdquo ndash as the driven agents. Scientific novelty the analytical expressions for the information equilibrium parameters issues and profits of the agents aggregate

  17. The Market for Fake Observations

    OpenAIRE

    Brekke, Kjellr Arne; Nilsen , Tore

    2011-01-01

    We show how increased competition in a media market may have implications for the competition between firms that are advertising in that medium. We apply a simple model of a product market with network externalities where firms buy advertising space in a media market and find that there is more entry in the product market, the more competitive the media market is. The paper is the first combining a study of media markets with a behavioral foundation of how advertising affects the demand for t...

  18. Cap-and-Trade Modeling and Analysis: Congested Electricity Market Equilibrium

    Science.gov (United States)

    Limpaitoon, Tanachai

    This dissertation presents an equilibrium framework for analyzing the impact of cap-and-trade regulation on transmission-constrained electricity market. The cap-and-trade regulation of greenhouse gas emissions has gained momentum in the past decade. The impact of the regulation and its efficacy in the electric power industry depend on interactions of demand elasticity, transmission network, market structure, and strategic behavior of firms. I develop an equilibrium model of an oligopoly electricity market in conjunction with a market for tradable emissions permits to study the implications of such interactions. My goal is to identify inefficiencies that may arise from policy design elements and to avoid any unintended adverse consequences on the electric power sector. I demonstrate this modeling framework with three case studies examining the impact of carbon cap-and-trade regulation. In the first case study, I study equilibrium results under various scenarios of resource ownership and emission targets using a 24-bus IEEE electric transmission system. The second and third case studies apply the equilibrium model to a realistic electricity market, Western Electricity Coordinating Council (WECC) 225-bus system with a detailed representation of the California market. In the first and second case studies, I examine oligopoly in electricity with perfect competition in the permit market. I find that under a stringent emission cap and a high degree of concentration of non-polluting firms, the electricity market is subject to potential abuses of market power. Also, market power can occur in the procurement of non-polluting energy through the permit market when non-polluting resources are geographically concentrated in a transmission-constrained market. In the third case study, I relax the competitive market structure assumption of the permit market by allowing oligopolistic competition in the market through a conjectural variation approach. A short-term equilibrium

  19. Efficient Neural Network Modeling for Flight and Space Dynamics Simulation

    Directory of Open Access Journals (Sweden)

    Ayman Hamdy Kassem

    2011-01-01

    Full Text Available This paper represents an efficient technique for neural network modeling of flight and space dynamics simulation. The technique will free the neural network designer from guessing the size and structure for the required neural network model and will help to minimize the number of neurons. For linear flight/space dynamics systems, the technique can find the network weights and biases directly by solving a system of linear equations without the need for training. Nonlinear flight dynamic systems can be easily modeled by training its linearized models keeping the same network structure. The training is fast, as it uses the linear system knowledge to speed up the training process. The technique is tested on different flight/space dynamic models and showed promising results.

  20. Modeling Trees with a Space Colonization Algorithm

    OpenAIRE

    Morell Higueras, Marc

    2014-01-01

    [CATALÀ] Aquest TFG tracta la implementació d'un algorisme de generació procedural que construeixi una estructura reminiscent a la d'un arbre de clima temperat, i també la implementació del pas de l'estructura a un model tridimensional, acompanyat de l'eina per a visualitzar el resultat i fer-ne l'exportació [ANGLÈS] This TFG consists of the implementation of a procedural generation algorithm that builds a structure reminiscent of that of a temperate climate tree, and also consists of the ...