The peer-to-peer (P2P) strategy as a new trading scheme has recently gained attention in local electricity markets. This is practical framework to enhance the flexibility and reliability of energy hubs, specifically for industrial prosumers dealing with high costs. In this paper, Norwegian site multi-energy hubs (MEHs) considered, which they are equipped various sources, namely wind turbines (W...

In the era of Industry 4.0, firms are facing with greater uncertainty. Accordingly, it is important to select quality risk measures to analyze newsvendor problems under risk. Then, open innovation can be a good remedial option for such risk-averse newsvendors because open innovation can offset the profit losses from risk aversion by sharing revenues in supply chains. To find such risk measures ...

We consider a slotted-ALOHA LAN with loss-averse, noncooperative greedy users. To avoid non-Pareto equilibria, particularly deadlock, we assume probabilistic loss-averse behavior. This behavior is modeled as a modulated white noise term, in addition to the greedy term, creating a diffusion process modeling the game. We observe that when player’s modulate with their throughput, a more efficient ...

We present a random variable characterization of the necessary and sufficient conditions for a shift of the distribution of rate of return on the risky asset in the two asset portfolio problem to reduce demand for all risk–averse expected utility maximizing investors. We also present a random variable characterization of the shifts that lead to both a reduction in demand and a non–increase in e...

It is well known that hormones affect both brain and behavior, but less is known about the extent to which hormones affect economic decision-making. Numerous studies demonstrate gender differences in attitudes to risk and loss in financial decision-making, often finding that women are more loss and risk averse than men. It is unclear what drives these effects and whether cyclically varying horm...