I study a generalized OLG economy where asymmetrically informed agents have arbitrary investment horizons. As horizons increase, the age-adjusted risk aversion of investors fall, and the risk transfer from forced liquidators into voluntary buyers drops. Two equilibria coexist for long enough...

We develop a dynamic nonlinear, noisy REE model of credit risk pricing under dispersed information that can theoretically and quantitatively account for the credit spread puzzle. The first contribution is a sharp analytical characterization of the dynamic REE equilibrium and its comparative...

In this paper we deal with the problem of the knowledge under uncertain conditions. Since Plato definition in Teetetos, knowledge has been defined as a true belief and this has been thougt as a clear and distinct idea. So, if we have any kind of knowledge, it can´t be uncertain. We are trying...

This paper presents a novel energy dispatching based on Model Predictive Control (MPC) for off-grid photovoltaic (PV)/wind turbine/hydrogen/battery hybrid systems. The renewable energy sources supply energy to the hybrid system and the battery and hydrogen system are used as energy storage...

Thanks to the built in intelligence (deployment of new intelligent devices and sensors in places where historically they were not present), the <i>Smart Grid </i>and<i> Microgrid</i> paradigms are able to take advantage from aggregated load forecasting, which opens the door for the implementation of new...