Book•
Intermediate microeconomics : A modern approach
01 Jan 2006-
TL;DR: The Varian approach as mentioned in this paper gives students tools they can use on exams, in the rest of their classes, and in their careers after graduation, and is still the most modern presentation of the subject.
Abstract: This best-selling text is still the most modern presentation of the subject. The Varian approach gives students tools they can use on exams, in the rest of their classes, and in their careers after graduation.
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Dissertation•
01 Jan 2014
TL;DR: In this paper, an integrated transmission and distribution (T&D) system model is proposed to ensure accurate representation of the system resources and the network conditions when modeling the distribution system in the transmission OPF and vice-versa.
Abstract: ` i ABSTRACT The distribution grid is expected to change in the near future as a result of recent advancements in the field of smart grids. The future grid will accommodate generation and storage options, active consumer participation through demand response schemes, and the widespread installation of smart energy management systems. With more demand side participation, distributed generators, and (potentially) meshed distribution system networks, there is a push to integrate transmission and distribution (T&D) systems models together. Ideally, the T&D systems should be modeled by an integrated optimal power flow (OPF) framework and solved simultaneously to schedule the generation and demand in the entire system. In comparison, existing practices do not include the distribution system when solving the OPF for the transmission system; instead, the load is estimated and placed at the connection point at the sub-transmission level. However, integrating T&D system models together is a challenge for OPF due to the size of the system, which makes these problems computationally intractable with existing technologies. The objective of this research is to develop an integrated T&D framework that couples the two subsystems together with due consideration to conventional demand flexibility. The proposed framework ensures accurate representation of the system resources and the network conditions when modeling the distribution system in the transmission OPF and vice-versa. It is further used to develop an accurate pricing mechanism (Distribution-based Location Marginal Pricing, ` ii DLMP), which is reflective of the moment-to-moment costs of generating and delivering electrical energy, for the distribution system. By accurately modeling the two subsystems , we can improve the economic efficiency and the system reliability, as the price sensitive resources (PSR) can be controlled to behave in a way that benefits the power system as a whole. The proposed framework decomposes the integrated OPF framework into two subsequent OPF problems: the transmission OPF and the distribution OPF. The decomposition requires iterations between the two sub-problems to ensure adequate representation of one subsystem when solving the other subsystem. Instead of using a one-shot approach where the transmission system modeled is solved only once, the proposed approach requires resolving the transmission OPF with an updated residual demand curve. The distribution system is modeled by its aggregate residual demand curve in the transmission OPF while the transmission system is modeled by a transmission-constrained residual supply curve in the distribution OPF. The iterative framework is further used to demonstrate the application and potential …
3 citations
13 Sep 2010
3 citations
01 Jan 2020
TL;DR: In this article, the authors address the issue of the balance between the state and the market and examine the right scope and extent of regulatory intervention and discuss the question of whether a lawmaker should at all intervene into economy.
Abstract: This chapter addresses the issue of the balance between the state and the market. It examines the right scope and extent of regulatory intervention and discusses the question of whether a lawmaker should at all intervene into economy. Moreover, this chapter presents the conceptual foundations of the regulatory intervention. Furthermore, it provides a synthesis of the economic literature on why governments regulate and evaluates the advantages and disadvantages of the different forms of regulation, by involving an analysis of how firms respond to various kinds of incentives and controls offered by the government.
3 citations
TL;DR: In this paper, the authors report on a nonsocial experiment where they find that all participants choose the dominant strategy in the experimental payoff, and compare it with the payoff-isomorphic, but social, Prisoner's Dilemma treatment presented in a recent paper by Bosch-Domenech and Silvestre where 28% choose cooperation instead of the dominant strategies.
Abstract: We report on a nonsocial experiment where we find that all participants choose the dominant strategy in the experimental payoff, and compare it with the payoff-isomorphic, but social, Prisoner’s Dilemma treatment presented in a recent paper by Bosch-Domenech and Silvestre where 28% choose cooperation instead of the dominant strategy. The contrast reinforces Roemer’s emphasis on human cooperation. Next, we argue that Roemer’s Simple Kantian Equilibrium works well as a theory of cooperation under the assumption of monotonicity (positive or negative externalities), but not when efficient cooperation requires the division of labor by coordinating dissimilar tasks.
3 citations
TL;DR: In this article, the authors evaluated the development and saturation of demand for basic foods in Slovakia in the period 2008-2017 and found that the share of expenditures on food and non-alcoholic beverages did not significantly change the consumption expenditures; they moved in intervals from 19.2% (2017) to 23.1% (2013) which is still a high share in comparison with EU countries (12.2%).
Abstract: Food represents everyday need and from this point of view is stable and computable demand on the consumer market. Based on the current development of households’ net money income and consumption expenditures, the aim of the paper is to point at the development of food consumption and changes in the cost of living of the population in Slovakia. Previous food consumption analyses proved that eating habits of the Slovak population comply neither with healthy lifestyle nor recommended doses, due to the low level of disposable net money income. In the analysis, linear and nonlinear functions were used in order to evaluate the development and saturation of demand for basic foods in Slovakia in the period 2008–2017. During these years, the share of expenditures on food and non-alcoholic beverages did not significantly change the consumption expenditures; they moved in intervals from 19.2% (2017) to 23.1% (2013), which is still a high share in comparison with EU countries (12.2%). The analysis provided in the paper is a suitable base for food businesses to create a product portfolio based on different net money income and saturation demand for basic foods.
3 citations
Cites background or methods from "Intermediate microeconomics : A mod..."
...Engel pointed out (Varian 2010) that the poorer is an individual, a family, or a nation, the greater is the percentage of its income must be spent on preserving physical existence, with the largest share spent for food....
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...The most commonly used Engel curves (Varian 2010) are the following (Equations 2–5): – Linear expenditures function (Equation 2)...
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...Engel pointed out (Varian 2010) that the poorer is an individual, a family, or a nation, the greater is the percentage of its income must be spent on preserving physical existence, with the largest share spent for food....
[...]
...The most commonly used Engel curves (Varian 2010) are the following (Equations 2–5): – Linear expenditures function (Equation 2) 0 1y b b x (2) where: y – dependent variable (expenditures); x – independent variable (income); b0 – locating constant; b1 – regression coefficient....
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