This paper analyzes the consequences of incorporating a different rate for tax depreciation than for economic depreciation. Firms most often choose their tax depreciation rate in a strategic way. It would therefore be a coincidence if this optimization process leads to a tax depreciation rate that equals the economic depreciation rate. The implications of a difference between tax depreciation a...

In many financial institutions, there is a well established practice of measuring the risk of their portfolios in terms of economic capital (cf., e.g. Dev, 2004). Measuring portfolio-wide economic capital, however, is only the first step towards active, portfolio-oriented risk management. For purposes like identification of concentrations, risk-sensitive pricing or portfolio optimization it is ...

This research focuses on supporting the formation of strategic alliances through the concept of cooperative commerce, where suppliers and buyers work together to jointly optimize their businesses. The general goal of this research is to examine existing cooperative commerce models for obstacles that would hinder their successful implementation into modern industrial applications and to address ...

This paper presents an Artificial Immune-based optimization technique for solving the economic dispatch problem in a power system. The main role of electrical power utility is to ensure that electrical energy requirement from the customer is served. However in doing so, the power utility has also to ensure that the electrical power is generated with minimum cost. Hence, for economic operation o...

The large scale deployment of renewable generation is generally seen as the most promising option for displacing fossil fuel generators. A challenge in integrating renewable energy resources (RERs) for distribution networks is to find approaches that ensure the long term sustainability and economic profit of the Distribution Company (DisCo). In this paper, considering the air condition load dem...

Combined Heat and Power Economic Dispatch (CHPED) plays a key role in economic operation of power systems. Due to complex characteristics, heuristic and evolutionary based optimization approaches have became effective tools to solve the CHPED problem. In this paper a new optimization approach based on improved differential evolution (IDE) has been proposed to solve the CHPED problem. IDE is an ...

Optimization of the steady state economic efficiency of an industrial process is a specific task because the decision variables of the optimization (setpoints of the control system) affect the process through the control strategy. Thus, the effects of saturation of a control systemmust be taken into account when the gradient of the objective function is estimated and the necessary optimality co...

Economic load dispatch is a non linear optimization problem which is of great importance in power systems . While analytical methods suffer from slow conversion and curse of dimensionality particle swarm optimization can be an efficient alternative to solve large scale non linear optimization problem.A lot of advancements have been done to modify this algorithm. This paper presents an overview ...

Although the importance of flexibility has long been recognized in the service industry, scholars and practitioners alike still struggle to express the value of flexible services in economic terms. We perceive that many service providers tend to strive for very flexible service processes no matter in which ecosystem they are embedded. They invest huge amounts of money in flexibilization project...

Ensuring a smooth electrical energy to the consumer has been identified as the main role of electric supply utility. The power utility needs to ensure that the electrical power is generated with minimum cost. Hence, for economic operation of the system, the total demand must be appropriately shared among the generating units with an objective to minimize the total generation cost for the system...