Similar Search Results

Simulation-based valuation of project finance: does model complexity really matter?

Weber, Florian; Schmid, Thomas; Pietz, Matthäus; … - Fakultät für Wirtschaftswissenschaften, Technische … - 2010

forecasting techniques, e.g. correlation forecasts based on historical values and on a dynamic conditional correlation (DCC) model … varied. We find that the applied volatility forecasting models have a strong influence on the expected net present value … distribution and on the probability of default. In contrast, correlation forecasting models play a minor role. Time resolution and …

Persistent link: https://www.econbiz.de/10009219934

Micromundo para la simulación de un mercado de corto plazo de electricidad

Carlos Jaime Franco C.; Juan David Velásquez H.; David … - In: REVISTA CUADERNOS DE ECONOMÍA (2012)

En este trabajo se presenta un micromundo para la simulación de una bolsa deenergía, el cual se elaboró en respuesta a la necesidad de facilitar el aprendizajedel esquema de bolsa de energía con despacho centralizado a los interesados en este mercado. El micromundo cuenta con un modelo...

Persistent link: https://www.econbiz.de/10010763826

Flexibility in Europe's Power Sector - an Additional Requirement or an Automatic Complement?

Growitsch, Christian; Nagl, Stephan; Bertsch, Joachim; … - Energiewirtschaftliches Institut (EWI), Universität zu … - 2013

By 2050, the European Union aims to reduce greenhouse gases by more than 80 %. The EU member states have therefore declared to strongly increase the share of renewable energy sources (RES-E) in the next decades. Given a large deployment of wind and solar capacities, there are two major impacts...

Persistent link: https://www.econbiz.de/10010840520

The case of negative day-ahead electricity prices

Fanone, Enzo; Gamba, Andrea; Prokopczuk, Marcel - In: Energy Economics 35 (2013) C, pp. 22-34

In recent years, Germany has significantly increased its share of electricity produced from renewable sources, which is mainly due to the Renewable Energy Act (EEG). The EEG substantially impacts the dynamics of intra-day electricity prices by increasing the likelihood of negative prices. In...

Persistent link: https://www.econbiz.de/10010868775

On the timing of non-renewable resource extraction with regime switching prices: an optimal stochastic control approach

Insley, Margaret - Department of Economics, University of Waterloo - 2013

This paper develops a model of a profit maximizing firm with the option to exploit a non-renewable resource, choosing the timing and pace of development. The resource price is modelled as a regime switching process, which is calibrated to oil futures prices. A Hamilton-Jacobi-Bellman equation is...

Persistent link: https://www.econbiz.de/10010905971

The role of grid extensions in a cost-efficient transformation of the European electricity system until 2050

Nagl, Stephan; Fürsch, Michaela; Hagspiel, Simeon; … - Energiewirtschaftliches Institut (EWI), Universität zu … - 2012

As an attempt to fi ght global warming, many countries try to reduce CO2 emissions in the power sector by significantly increasing the proportion of renewable energies (RES-E). A highly intermeshed electricity transmission grid allows the achievement of this target cost-efficiently by enabling...

Persistent link: https://www.econbiz.de/10010991528

Optimization of power plant investments under uncertain renewable energy development paths - A multistage stochastic programming approach

Nagel, Stefan; Fürsch, Michaela; Lindenberger, Dietmar - Energiewirtschaftliches Institut (EWI), Universität zu … - 2012

Electricity generation from renewable energy sources (RES-E) is supposed to increase signi ficantly within the coming decades. However, uncertainty about the progress of necessary infrastructure investments, public acceptance and cost developments of renewable energies renders the achievement of...

Persistent link: https://www.econbiz.de/10010991545

Flexibility in Europe's power sector - an additional requirement or an automatic complement?

Bertsch, Joachim; Growitsch, Christian; Lorenczik, Stefan; … - Verein für Socialpolitik - VfS - 2013

The EU member states have declared to strongly increase the share of Renewable Energy Sources in the next decades. Given a large deployment of wind and solar capacities as well as limited cost-efficient storage technologies, this has two major impacts on electricity systems. First, the...

Persistent link: https://www.econbiz.de/10010958120

Can agent-based models forecast spot prices in electricity markets? Evidence from the New Zealand electricity market

Young, David; Poletti, Stephen; Browne, Oliver - In: Energy Economics 45 (2014) C, pp. 419-434

Modelling price formation in electricity markets is a notoriously difficult process, due to physical constraints on electricity generation and transmission, and the potential for market power. This difficulty has inspired the recent development of bottom-up agent-based algorithmic learning...

Persistent link: https://www.econbiz.de/10010939449

Oil exploration and perceptions of scarcity: The fallacy of early success

Jakobsson, Kristofer; Söderbergh, Bengt; Snowden, Simon; … - In: Energy Economics 34 (2012) 4, pp. 1226-1233

It has been suggested that oil exploration may lead to false perceptions of decreasing scarcity. We perform a simulation of the exploration process using Bayesian updating. The approach enables us to isolate the information effect on the success rate and also to quantify the subjective...

Persistent link: https://www.econbiz.de/10011039513