We formulate the problem of finding classes of kinetic dependencies in irreversible thermodynamic and microeconomic systems for which minimal dissipation processes belong to the same type. We show that this problem is an inverse optimal control problem and solve it. The commonality of this...

The problem of calculating the optimal dispatch and prices in a single-period electricity auction in a wholesale electricity market is considered here. The novel necessary and sufficient conditions of optimality for this problem are derived and computational algorithms for solving these...

Volume Weighted Average Price (VWAP) for a stock is total traded value divided by total traded volume. It is a simple quality of execution measurement popular with institutional traders to measure the price impact of trading stock. This paper uses classic mean-variance optimization to develop...

In this paper the problem of finding the optimal separation sequence for a three-component mixture in a two-stage separation system is considered. Two solutions are obtained. The first minimizes the energy used, subject to a given flow rate of the input mixture, by selecting optimal separation...

In this paper we consider optimal trading processes in economic systems. The analysis is based on accounting for irreversibility factor using wealth function concept.