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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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TL;DR: A novel utility-based decision-making method that fills the gap between online data and the optimal load restoration strategy in an uncertain condition and is particularly applicable for online load restoration with wind power penetration.
Abstract: An efficient load recovery of a bulk system with wind power penetration requires careful consideration of uncertainties related to it, as well as online data gathered from measurement devices. From the perspective of uncertainties, a novel utility-based decision-making method is proposed in this paper. The method combines both risk and return of the load restoration strategy to assist decision making in uncertain states, and it also provides a utility function to present the preference of the load restoration strategy. Furthermore, a utility-oriented optimization model is created to select the strategy with the largest utility value with a certain confidence level. To achieve efficient utilization of online data, as well as to ensure high computation efficiency, the utility-oriented optimization is transformed into a scenario-based linear programming model. The proposed method fills the gap between online data and the optimal load restoration strategy in an uncertain condition. Besides, the optimal strategy is provided with adjustable robustness according to security requirements and data exactness. Therefore, it is particularly applicable for online load restoration with wind power penetration. The effectiveness of the proposed method is validated using the IEEE-30 bus test system and an actual power system from the North-East of Shandong province, China.
20 citations
30 Nov 2006
TL;DR: A reward-driven request prioritization (RDRP) algorithm that gives higher execution priority to client Web sessions that are likely to bring more service profit (or any other application-specific reward).
Abstract: Meeting client QoS expectations proves to be a difficult task for the providers of modern Internet services, especially when web servers experience overload conditions (steady or transient), which cause increased response times and request rejections, leading to user frustration, lowered usage of the service and reduced revenues. In this paper, we propose a server-side request scheduling mechanism that addresses these problems. Our Reward-Driven Request Prioritization (RDRP) algorithm gives higher execution priority to client web sessions that are likely to bring more service profit (or any other application-specific reward). The method works by predicting future session structure by comparing its requests seen so far with aggregated information about recent client behavior, and using these predictions to preferentially allocate web server resources. Our experiments using the TPC-W benchmark application and CBMG-based web workloads, with an implementation of the RDRP techniques in the JBoss application server, show that RDRP can significantly boost reward attained by the service, while providing better QoS to clients that bring more reward.
20 citations
TL;DR: In this article, the authors evaluate the operational activities of African airports using a finite mixture model that allows them to control for unobserved heterogeneity, and use stochastic frontier latent class model to estimate cost frontiers.
20 citations
TL;DR: The authors review the literature on rational choice theory (RCT) to scrutinize a number of criticisms that philosophers have voiced against its usefulness in economics and argue that the debates about RCT have been characterized by disunity and confusion about the object under scrutiny.
Abstract: In this paper, I review the literature on rational choice theory (RCT) to scrutinize a number of criticisms that philosophers have voiced against its usefulness in economics. The paper has three goals: first, I argue that the debates about RCT have been characterized by disunity and confusion about the object under scrutiny, which calls into question the effectiveness of those criticisms. Second, I argue that RCT is not a single and unified choice theory—let alone an empirical theory of human behavior—as some critics seem to suppose. Rather, there are several variants of RCT used in economics. Third, I propose that we think of RCT as a set of distinct research strategies to appreciate its diversity. This account implies that the effectiveness of any criticism depends on the variant of RCT we are considering.
20 citations