Spatial reserve design concerns the planning of biological reserves for conservation. Typical reserve selection formulations operate on a large set of landscape elements, which could be grid cells or irregular sites, and selection algorithms aim to select the set of sites that achieves biodiversity target levels with minimum cost. This study presents a completely different optimization approach...

When …rms access unbounded liability exposures and are granted limited liability, then an all equity …rm holds a call option, whereby it receives a free option to put losses back to the taxpayers. We call this option the taxpayer put, where the strike is the negative of the level of reserve capital at stake in the …rm. We contribute by (i) valuing this taxpayer put, and (ii) determining the lev...

This paper presents a new approach for thermal unit commitment (UC) using a differential evolution (DE) algorithm. DE is an effective, robust, and simple global optimization algorithm which only has a few control parameters and has been successfully applied to a wide range of optimization problems. However, the standard DE cannot be applied to binary optimization problems such as UC problems si...

This paper investigates an alternative solution to prevent Load Shedding (LS) triggering during underfrequency and proposes a new technique to restore the frequency during emergency events. Demand response (DR) is considered as one of the most promising Smart Grid concepts that can be used to support the peak demand, whereas, LS is an existing last resort method during emergency grid situations...

The rapid integration of variable renewable energy sources (VRES) into power grids increases variability and uncertainty the net demand, making system operation challenging. Operating reserve is used by operators to manage hedge against such uncertainty. Traditionally, requirements are determined rules-of-thumb (static requirements, e.g., NERC Reliability Standards), more recently, dynamic from...

We develop the analytic and numerical tools for data analysis of the gravitational-wave signals from spinning neutron stars for ground-based laser interferometric detectors. We study in detail the statistical properties of the optimum functional that need to be calculated in order to detect the gravitational-wave signal from a spinning neutron star and estimate its parameters. We derive formula...

Due to uncertain nature of wind and photovoltaic power units, the participation of this units in electricity markets is subjected to significant deviation penalties. This issue leads to despondency or even admission of these units in the competitive environment. With regard to this fact that the low deviations are available when predictions are performed in a short-term horizon and also distrib...