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Cascading failures are one of the main reasons for blackouts in electric power transmission grids. The economic cost of such failures is in the order of tens of billion dollars annually. The loading level of power system is a key aspect to determine the amount of the damage caused by cascading...
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Cascading failures are one of the main reasons for large scale blackouts in power transmission grids. Secure electrical power supply requires, together with careful operation, a robust design of the electrical power grid topology. Currently, the impact of the topology on grid robustness is...
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We study how rework routing together with wage and piece rate compensation can strengthen incentives for quality. Traditionally, rework is assigned back to the agent who generates the defect (in a self routing scheme) or to another agent dedicated to rework (in a dedicated routing scheme). In...
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We consider a firm that invests in capacity under demand uncertainty and thus faces two related but distinct types of risk: mismatch between capacity and demand and profit variability. Whereas mismatch risk can be mitigated with greater operational flexibility, profit variability can be reduced...
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