Optimal Decentralized Investment Management

Decentralized Investment Management: Evidence from the Pension Fund Industry

Decentralized Investment Management: Evidence from the Pension Fund Industry The past few decades have seen a major shift from centralized to decentralized investment management by pension fund sponsors, despite the increased coordination problems that this brings. Using a unique, proprietary dataset of pension sponsors and managers, we identify two secular decentralization trends: sponsors swi...

Decentralized Control Strategy for Optimal Energy Management in Grid-Connected and Islanded DC Microgrids

This paper proposes a decentralized control technique to minimize the total operation cost of a DC microgrid in both grid-connected and islanded modes. In this study, a cost-based droop control scheme based on the hourly bids of all participant distributed generators (DGs) and the hourly energy price of the utility is presented. An economic power sharing technique among various types of DG unit...

Optimal Investment Management of Harbour Infrastructures. A Real Options Viewpoint

Most real problems need to be modelized using multiple state variables, combine multiple Real Options (very often american-style ones) and have complex cash flow functions. In this paper we present a new ScenariosMonte Carlo method to approach this kind of high-dimensional Real Options problems. The method is based on scenarios spaces built at each exercise date so that the payoff function can ...

Economic Droop Scheme for Decentralized Power Management in DC Microgrids

This paper proposes an autonomous and economic droop control scheme for DC microgrid application. In this method, a cost-effective power sharing technique among various types of DG units is properly adopted. The droop settings are determined based on an algorithm to individually manage the power management without any complicated optimization methods commonly applied in the centralized control ...

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