this paper proposes a stochastic framework for demand response (dr) aggregator to procure dr from customers and sell it to purchasers in the wholesale electricity market. the aggregator assigns fixed dr contracts with customers based on three different load reduction strategies. in the presented problem the uncertainty of market price is considered and the risk of aggregator participation is ma...

bedsore is a very important problem in bedridden patients. it affects patients’ lives and imposes substantial costs to society. its incidence approaches 38% and its annual prevalence is estimated to be 14.8% in patients who are admitted in hospitals. the national pressure ulcer advisory panel (npuap) and the european pressure ulcer advisory panel (epuap) define bedsore as “a localized injury to...

multi attribute decision making methods are considered as one of the most useful methods for solving ranking problems. in some decision making problems, while the alternatives for corresponding criteria are compared in a pairwise comparison manner, if the criteria are inherently fuzzy, debates will arise in ranking alternatives due to the closeness of the values of the criteria. in this researc...

early warning systems are key components of strategies to reduce risk. this research, by adopting a systematic approach in the management of the risk of desertification and by including previously developed models and systems, offers an integrated efficient structure in terms of early warning for the risk of desertification as a pilot system for semi-arid areas of west golestan province in iran...

A method is presented for identifying an expected profitable set of customers, to offer them an additional insurance product, by estimating a customer specific latent risk profile, for the additional product, by using the customer specific available data for an existing insurance product of the specific customer. For the purpose, a multivariate credibility estimator is considered and we investi...

We show that there can be significant difference between risk preferences of individual investors and aggregate preferences toward risk in the economy. To demonstrate this, we investigate aggregate properties of an economy where all investors have convex utility functions corresponding to risk seeking behavior. In the case of risk seeking individual agents with identical initial endowments, ass...

2 This paper draws on lessons from a UK case study in the management of diffuse microbial pollution from grassland farm systems in the Taw catchment, south west England. We report on the development and preliminary testing of a field-scale faecal indicator organism risk indexing tool (FIORIT). This tool aims to prioritise those fields most vulnerable in terms of their risk of contributing FIOs ...

Decision-making under risk assessment involves dealing with the matter of uncertainty, especially in projects such as tunnel construction. Risk control should include not only measures to reduce the possible consequence of incident, but also exploration measures (information collecting measures) to reduce the uncertainty of the incident. The classical risk assessment model in engineering is R =...

We show that in large symmetric auctions with conditionally i.i.d. common values and CARA preferences, the second-price auction raises more revenue than the …rst-price auction. We also show by an example that the ranking does not extend to general symmetric risk-averse preferences.