Forward contracts play a vital role in all electricity markets, and yet the details of the market for forward contracts are often opaque. In this paper we review the existing literature on forward contracts and explore the contracting process as it operates in Australia. The paper is based on interviews with participants in Australia’s National Electricity Market. The interviews were designed t...

We apply the graph container method to prove a number of counting results for the Boolean lattice P(n). In particular, we: (i) Give a partial answer to a question of Sapozhenko estimating the number of t error correcting codes in P(n), and we also give an upper bound on the number of transportation codes; (ii) Provide an alternative proof of Kleitman’s theorem on the number of antichains in P(n...

This paper studies exponential convergence index assignment of stochastic control systems from the viewpoint of backward stochastic di'erential equation. Like deterministic control systems, it is shown that the exact controllability of an open-loop stochastic system is equivalent to the possibility of assigning an arbitrary exponential convergence index to the solution of the closed-loop stocha...

In an infinite-horizon setting, Ferejohn and Page showed that Arrow’s axioms and stationarity lead to a dictatorship by the first generation. Packel strengthened this result by proving that no collective choice rule generating complete social preferences can satisfy unlimited domain, weak Pareto and stationarity. We prove that a domain restriction can be imposed and completeness can be dropped ...

We examine the dynamics of turbulent reconnection in 2D and 3D reduced MHD by calculating the effective dissipation due to coupling between small–scale fluctuations and large–scale magnetic fields. Sweet–Parker type balance relations are then used to calculate the global reconnection rate. Two approaches are employed — quasi–linear closure and an eddy-damped fluid model. Results indicate that d...

The Lagrangian approach to the development of dynamics equations for a multi-body system, constrained or otherwise, requires solving the forWard kinematics of the system at velocity level in order to derive the kinetic energy of the system. The kinetic-energy expression should then be differentiated multiple times to derive the equations of motion of the system. Among these differentiations, th...

This paper addresses the topic of robust Bayesian compressed sensing over finite fields. For stationary and ergodic sources, it provides asymptotic (with the size of the vector to estimate) necessary and sufficient conditions on the number of required measurements to achieve vanishing reconstruction error, in presence of sensing and communication noise. In all considered cases, the necessary an...

Introduction Clinical education and associated assessment is an important component of nurse education. A range of factors contribute to a culture that makes the assessment of clinical competence difficult. These factors are environmental, educational, cultural and linguistic diversity amongst students, student expectation, a diverse range of clinical education models. All of which contribute t...

We develop a fundamental model for spot electricity prices, based on stochastic processes for underlying factors (fuel prices, power demand and generation capacity availability), as well as a parametric form for the bid stack function which maps these price drivers to the power price. Using observed bid data, we find high correlations between the movements of bids and the corresponding fuel pri...

We propose a technique for expressing the ST semantics in SOS style for terms of a process algebra. This technique, which is based on the idea of giving unique names to actions and reusing the names of terminated actions, allows us to decide and axiomatize weak ST bisimu-lation for all processes that possess a nite state interleaving semantics. Moreover we show that the proposed technique allow...