I examine the effect of the accounting standard for derivative instruments (SFAS No. 133) on corporate risk-management behavior. I classify a derivative user as an "effective hedger" (EH firm) if its risk exposures decreased after the initiation of the derivatives program, and as an "ineffective...

In the present work, a waste heat power generation system is analyzed based on the criteria with and without considering the heat/exergy loss to the environment. For the criteria without considering the heat/exergy loss to the environment, the first- and second-law efficiencies display different...

Risk measures are often used by decision makers (DMs) as a scalar risk characterization by integrating the statistical characteristics of risk as well as the DMs’ risk strategy towards uncertainty. A good risk measure typically needs to have a risk preference control mechanism, a complete...

Perceived mean-excess travel time is a new risk-averse route choice criterion recently proposed to simultaneously consider both stochastic perception error and travel time variability when making route choice decisions under uncertainty. The stochastic perception error is conditionally dependent...

Comparing with conventional power plants, wind power generations are highly dependent on the natural environment. Especially under extreme wind condition, individual wind turbine might automatically disconnect from the grid once the wind speed is near or over the cut-out speed. This results in...

Wind energy has been considered as an important substitution of fossil-based energy for future society. However large-scale integration of wind power will introduce great risks to both power system planning and operation due to its stochastic nature. By adopting power system reliability theory,...

In the present work the field synergy principle is applied to the optimization design of the shell-and-tube heat exchanger with segmental baffles. The field synergy number which is defined as the indicator of the synergy between the velocity field and the heat flow is taken as the objective...

In this study, two types of coals were used as the reburning fuel to investigate the influence of the reburning zone stoichiometry SR2, the primary NO level and the particle size on NO reduction. For both coals, the NO reduction can reach as high as 60-70% in the tested SR2 range of 0.7-1.1. No...

A short-term electricity market is usually composed of the energy market and ancillary service market. However, wind power is not allowed to be traded in ancillary service markets although it has been proven technically feasible to be regulation services. This paper aims to explore the market...

The wheel driving torque on four-wheel-drive electric vehicles (4WDEVs) can be modulated precisely and continuously, therefore maneuverability and energy-saving control can be carried out at the same time. In this paper, a wheel torque distribution strategy is developed based on multi-objective...