Search results for "version"
showing 10 items of 1591 documents
Optimal hedging under biased energy futures markets
2020
Abstract Optimal futures hedging positions for those agents trying to maximize their expected utility will depend on their view about the evolution of the market and on how risk adverse they are. The most risk adverse agents will probably decide to full-cover their positions. But when a futures bias exists, hedgers with moderate or low degree of risk aversion can alter their strategy depending on the expected gains in futures markets. In our application to the UK natural gas market, we find a statistically significant time-varying negative futures bias that can be forecasted with confidence. As a result of this bias, most effective and best performing hedging strategies for moderate risk-av…
A note on comparative downside risk aversion
2005
International audience; We provide comparative global conditions for downside risk aversion, which are similar to the ones studied by Ross for risk aversion. We define a coefficient of downside risk aversion, and study its local properties.
A critical empirical study of three electricity spot price models
2012
We conduct an empirical analysis of three recently proposed and widely used models for electricity spot price process. The first model, called the jump-diffusion model, was proposed by Cartea and Figueroa (2005), and is a one-factor mean-reversion jump-diffusion model, adjusted to incorporate the most important characteristics of electricity prices. The second model, called the threshold model, was proposed by Roncoroni (2002) and further developed by Geman and Roncoroni (2006), and is an exponential Ornstein–Uhlenbeck process driven by a Brownian motion and a state-dependent compound Poisson process. It is designed to capture both statistical and pathwise properties of electricity spot pri…
The role of «perceived loss» aversion on credit screening: an experiment
2013
A major characteristic of credit markets is information asymmetry.To combat its problems, as credit rationing, principals can use a menu of contracts to screen clients with different risk level. We conduct a laboratory experiment to address an important question for such settings —does the framing of the offered menu of contracts interfere with the self-selection mechanism? The answer is yes. We find subjects' choices shift when the same (positive) outcomes of the same menu of contracts are presented in two different frames. Subjects exhibit loss aversion in their perception of the positive outcomes below the reference point, and self-selection fails to occur. Uno de los mayores problemas a…
Monte Carlo simulation of energy absorbed in phenolic ESR dosimeters added with gadolinium exposed to thermal, epithermal and fast neutrons
2017
Abstract In this work analyses of the energy released per unit mass in phenolic compound exposed to neutron beams were performed with the aim of predicting the increase in dose achievable by addition of gadolinium (Gd) inside the pellets. In particular, Monte Carlo (MC) simulations were carried out for IRGANOX® 1076 phenolic compound irradiated with neutron beams with different energy spectra at various depths inside a water phantom. The addition of gadolinium increases sensitivity of phenolic ESR (electron spin resonance) dosimeters to neutrons thanks to the high gadolinium cross section for neutron capture and to the large number of secondary particles (mainly Auger and internal conversio…
Experimental Validation of a Novel Method for Harmonic Mitigation for a Three-Phase Five-Level Cascaded H-Bridges Inverter
2019
In modern high-power electrical drives, the efficiency of the system is a crucial constraint. Moreover, the efficiency of power converters plays a fundamental role in modern applications requiring also a limited weight, such as the electric vehicles and novel more electric aircraft. The reduction of losses pushes for systems with a dc bus and a high number of dc/ac converters, widespread in the vehicle, not burdened by a too expensive data processing system. The purpose of this article is to concur to reduce losses by proposing an innovative selective harmonic mitigation method based on the identification of the working areas where the reference harmonics present lower amplitudes. In partic…
Misinterpretation caused by 3D effects on 2D Electrical Resistivity Tomography: tests on simple models
2018
Summary The aim of this work is to evaluate the effects of 2D inversion of electrical resistivity data when in presence on 3D structures by testing synthetic and experimental models. Several numerical simulations have been calculated for different resistivity models and 2D datasets were extracted to study and quantify the effects of 2D inversion on 3D structures. Results have been compared with field texts carried out in quarrying sites. The main tests here presented simulates prism-shaped cavities with a square vertical section of 1 × 1 size and a variable lateral extension d, from 1 to infinity (this latter being a 2D tunnel model). Inversion of predicted data show that 2D tomography does…
Electrochemical conversion of carbon dioxide to formic acid: on the road to applicative scale
2018
In this context, electrochemical reduction of CO2 is considered one of the more attractive pathway to convert CO2, because the products can be selectively controlled by changing the operative conditions of the electrolysis. In the last years, an increasing attention has been devoted on the electrochemical conversion of CO2 to formic acid in water [2,3]. The main hurdle of the reduction of CO2 from water solution is the low CO2 solubility in water. In this work, the effect of some operating parameters, including pressure, current density, and flow rate, on the conversion of CO2 at tin flat cathodes to formic acid was studied using a pressurized filter-press cell with a continuous recirculati…
Electrochemical conversion of carbon dioxide: effect of the cell and of the operating parameters on the performances of the process.
2017
Recycling technologies of CO2 allow to introduce renewable energy in the chemical and energy chain, storing a renewable energy in the chemical form. In this context, electrochemical conversion of CO2 is considered one of the more interesting approaches, using excess electric energy from intermittent renewable sources. (1) Furthermore, products can be selectively controlled by changing the operating conditions of electrolysis. In particular, in the last years, an increasing attention has been devoted to the electrochemical conversion of CO2 to formic acid or formate in water. (2,3,4) The main hurdle of the reduction of CO2 from water solution is the low CO2 solubility in water. In this work,…
Assisted reverse electrodialysis for CO2 electrochemical conversion and treatment of wastewater: A new approach towards more eco-friendly processes u…
2020
Abstract In this paper, the utilization of assisted reverse electrodialysis (A-RED), recently used for pre-desalination, is proposed as a general method to reduce the energy requirements of electrolysis processes and evaluated for two model processes: (i) the cathodic conversion of carbon dioxide to formic acid; (ii) the anodic treatment of water contaminated by organics. In A-RED, two solutions with different salt content and an external potential difference, applied in the direction of the natural salinity gradient, are both used to drive redox processes. It was shown, for the first time, that the cathodic conversion of CO2 to formic acid can be performed by both reverse electrodialysis (…