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Currency Crisis

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ISBN: 9783039215782 / 9783039215799 Year: Pages: 126 DOI: 10.3390/books978-3-03921-579-9 Language: eng
Publisher: MDPI - Multidisciplinary Digital Publishing Institute
Subject: Economics
Added to DOAB on : 2019-12-09 11:49:15
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Financial crises are nothing new in the annals of history of the capitalistic path of economic development; indeed, they are part of business cycle. The theoretical basis for this is well entrenched in the concept of ‘Keynesian Cross’. Tales of crises date back centuries, but have taken a new turn as the race for more globalization goes on, which involves liberalizing trade and opening up the financial sector. This has made many nations vulnerable to crises that are likely to be repeated, perhaps frequently. Based on recent experience, warning signs can be seen in the dollar-centric exchange rate, which is the mainstay for the stability of the current global financial system. To a careful observer, there is clearly fatigue in the system.

Risk Measures with Applications in Finance and Economics

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ISBN: 9783038974437 / 9783038974444 Year: Pages: 536 DOI: 10.3390/books978-3-03897-444-4 Language: eng
Publisher: MDPI - Multidisciplinary Digital Publishing Institute
Subject: Business and Management
Added to DOAB on : 2019-08-28 11:21:27
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Risk measures play a vital role in many subfields of economics and finance. It has been proposed that risk measures could be analysed in relation to the performance of variables extracted from empirical real-world data. For example, risk measures may help inform effective monetary and fiscal policies and, therefore, the further development of pricing models for financial assets such as equities, bonds, currencies, and derivative securities.A Special Issue of “Risk Measures with Applications in Finance and Economics” will be devoted to advancements in the mathematical and statistical development of risk measures with applications in finance and economics. This Special Issue will bring together the theory, practice and real-world applications of risk measures. This book is a collection of papers published in the Special Issue of “Risk Measures with Applications in Finance and Economics” for Sustainability in 2018.

Keywords

falsified products --- medication --- health risk --- low-income country --- regular vine copulas --- tree structures --- co-dependence modelling --- European stock markets --- carbon emissions --- fossil fuels --- crude oil --- coal --- low carbon targets --- green energy --- spot and futures prices --- Granger causality --- volatility spillovers --- quasi likelihood ratio (QLR) test --- diagonal BEKK --- full BEKK --- dynamic hedging --- socially responsible investment --- multivariate regime-switching --- time-varying correlations --- volatility transmission --- conscientiousness --- openness to experience --- perceived ease of use --- perceived usefulness --- online purchase intention --- dynamic conditional correlation --- generalized autoregressive score functions --- time-varying copula function --- CoVaR --- utility --- credit derivatives --- stochastic volatility --- asymptotic approximation --- risk aversion --- portfolio selection --- need hierarchy theory --- two-level optimization --- variance --- coherent risk measures --- probability of default --- bank risk --- banking regulation --- SYMBOL --- financial stability --- China’s food policy --- sustainable food security system --- japonica rice production --- two-level CES function --- technological progress --- Project Financing --- Mezzanine Financing --- option value --- Monte Carlo Simulations --- probabilistic cash flow --- optimizing financial model --- risks mitigation --- investment profitability --- financial hazard map --- random forests --- early warning system --- bank failure --- B-splines --- inflation forecast --- monthly CPI data --- out-of-sample forecast --- the sudden stop of capital inflow --- financial security --- the optimal scale of foreign exchange reserve --- utility maximization --- finance risk --- liquidity premium --- uncertainty termination --- investment horizon --- Amihud’s illiquidity ratio --- factor models --- diversification --- bank profitability --- bank risk --- dynamic panel --- European banking system --- sustainability of economic recovery --- Bayesian approach --- conjugate prior --- cartel --- leniency program --- policy simulation --- S&P 500 index options --- gain-loss ratio --- risk-neutral distribution --- binomial tree --- risk management --- market timing --- moving averages --- risk-free rate --- returns and volatility --- financial risk --- bankruptcy --- regression model --- sustainable development --- Slovak enterprises --- sentiment analysis --- polarity --- scientific verification --- emotion --- joy --- sadness --- climate change --- GMC --- VIX --- RV5MIN --- causal path --- ANN --- sovereign credit default swap (SCDS) --- emerging market --- markov regime switching --- credit risk --- risk assessment --- risk measures --- IPO underpricing --- financial crisis --- information asymmetry --- financial risks --- business groups --- financial performance --- group-affiliated --- institutional voids --- production frontier function --- stochastic frontier model --- specification testing --- wild bootstrap --- smoothing process --- empirical process --- simulations --- stakeholder theory --- sustainability --- risk --- social efficiency --- banking --- cooperative banks --- Data Envelopment Analysis (DEA) --- corporate sustainability --- news release --- stakeholder theory --- stock return volatility --- EGARCH-m --- life insurance --- term life insurance --- whole life insurance --- self-perceived health --- objective health status --- future health risk --- SHARE --- national health system

Applied Econometrics

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ISBN: 9783038979265 / 9783038979272 Year: Pages: 222 DOI: 10.3390/books978-3-03897-927-2 Language: eng
Publisher: MDPI - Multidisciplinary Digital Publishing Institute
Subject: Science (General) --- Mathematics
Added to DOAB on : 2019-06-26 08:44:06
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Although the theme of the monograph is primarily related to “Applied Econometrics”, there are several theoretical contributions that are associated with empirical examples, or directions in which the novel theoretical ideas might be applied. The monograph is associated with significant and novel contributions in theoretical and applied econometrics; economics; theoretical and applied financial econometrics; quantitative finance; risk; financial modeling; portfolio management; optimal hedging strategies; theoretical and applied statistics; applied time series analysis; forecasting; applied mathematics; energy economics; energy finance; tourism research; tourism finance; agricultural economics; informatics; data mining; bibliometrics; and international rankings of journals and academics.

Keywords

inflation --- postage stamps --- price recovery --- historical time series --- EGARCH --- FHA loan --- home mortgage --- foreclosure --- default and prepayment --- unobserved heterogeneity --- duration models --- competing risks --- earnings forecasts --- earnings announcements --- financial markets --- financial analysts --- nonparametric time series modeling --- nonlinearity --- unified time series algorithm --- exploratory diagnostics --- control environment --- budgetary system and strategies --- operational control --- company performance --- economic growth --- economic freedom --- foreign direct investment --- panel data --- cash payments --- efficiency --- denomination range --- JEL Classification --- E42 --- E58 --- managing of financial health --- risk of bankruptcy --- prediction methods --- post-communist countries --- Misery Index --- inflation --- unemployment --- Probit and Logit models --- Okun’s law --- multivariate regression models --- heavy-tailed data --- Mahalanobis distances --- maximum likelihood estimator --- independent multivariate Student distribution --- uncorrelated multivariate Student distribution --- derivatives market --- economic development --- Granger-causality tests --- vector error correction model (VECM) --- DOLS --- FMOLS --- income inequality --- economic growth --- middle income countries --- Granger causality test --- system GMM --- oil price --- exchange rate --- trade balance --- cointegration --- frequency domain causality --- Nigeria --- Fama-French factor model --- market microstructure --- trading behavior --- panel data factor model --- social network model --- risk spillover --- abnormal returns

Trust Management: Key Factor of the Sustainable Organizations Embedded in Network

Authors: ---
ISBN: 9783039212330 / 9783039212347 Year: Pages: 396 DOI: 10.3390/books978-3-03921-234-7 Language: eng
Publisher: MDPI - Multidisciplinary Digital Publishing Institute
Subject: Economics
Added to DOAB on : 2019-08-28 11:21:27
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Nowadays, trust is an important determinant in the development of modern organizations. Not only is it becoming an increasingly important element of relationships between entities, but, above all, it positively influences the building of an organization's intellectual capital. This capital can be defined in different ways, but its definition always references elements that determine the potential of sustainable organizations, often in human, social, relational, organizational, and innovation dimensions. Trust is increasingly becoming the key determinant of this capital (Ko?uch, Lenart-Gansiniec, 2017). Trust also has a number of different definitions. However, the basis of many of these definitions is the building of relationships focused on developing some kind of individual or inter-organizational link. Organizational trust is a complicated concept, and it is the basis of all organized activities performed by people in the organization, largely because trust is needed to develop relationships with integrity and commitment. Thus, it is interesting to study the relationship between trust and the building of the intellectual capital of sustainable organizations. Indeed, intellectual capital plays a special role here. It is a guide and a platform for achieving not only a competitive advantage for the sustainable organization, but also a source of value creation in the short and long term. Thus, this strategic hybrid, composed of a business model, strategy, and business processes, is favorable to the development of intellectual capital (Jab?o?ski 2017). Trust is an element that ties this capital to relationships in business. Moreover, it has an integrated character (R.C. Mayer, J. H. Davis, F. D. Schoorman 1995). Assuming that, nowadays, the network paradigm is becoming increasingly important, it is worth asking how the mechanism of building trust-based intellectual capital in a sustainable organization functions as its key asset in the network environment.

Keywords

trust --- distrust --- control --- project success --- structural equation modeling (SEM) --- trust --- trust management --- logistics service providers --- supply chain management --- collaboration --- trust --- antibiotic resistance --- antibiotics --- cooperation --- large-scale collective action --- Sweden --- coordinating behavior --- trust management --- reciprocity types --- reciprocity-based trust --- inter-organizational exchange relationships --- sustainable relationships --- consumer trust --- CSR --- advertising --- ethical advertising --- shockvertising --- consumer behavior --- apology --- denial --- penance --- opportunistic behaviors --- trust repair --- subcontracting --- scenario-based experiments --- sustainability --- trust --- distress --- transport services --- road freight transport --- modal shift potential --- paradigm shift --- modeling --- prediction --- General Discriminant Analysis --- trust --- international joint venture --- third-country relocation --- foreign direct investment --- asset specificity --- institutional theory --- public collaborative networks --- multilevel research --- trust --- cooperation --- competition --- paradoxes --- trust --- M&A sustainability --- performance --- start-ups --- retained autonomy --- mixed-method research --- interpersonal trust --- sustainable organizations --- competences --- relations --- cooperation --- trust --- quality culture --- universities --- higher education institutions --- conceptual model --- trust --- collaboration --- virtual teams --- integrity --- ability --- online --- strategic hybrids --- business model --- strategy --- business processes --- strategic projects --- water supply companies --- trust --- trustworthiness --- distrust --- water cooperation --- competition --- complexity --- deep uncertainty --- risk perception --- Nzoia river basin --- water policy gaming --- public management --- public-social partnership --- public value --- co-innovation --- sustainability --- trust --- creative industry --- networking --- stakeholders --- DAG scheduling --- trusted entities --- heterogeneous --- MCTS --- cultural routes --- trust --- cooperation networks --- cultural heritage management

Sustainable Energy Systems: From Primary to End-Use

Authors: --- ---
ISBN: 9783039210961 / 9783039210978 Year: Pages: 314 DOI: 10.3390/books978-3-03921-097-8 Language: eng
Publisher: MDPI - Multidisciplinary Digital Publishing Institute
Subject: Science (General) --- Physics (General)
Added to DOAB on : 2019-12-09 11:49:15
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This book focuses on sustainable energy systems. While several innovative and alternative concepts are presented, the topics of energy policy, life cycle assessment, thermal energy, and renewable energy also play a major role. Models on various temporal and geographical scales are developed to understand the conditions of technical as well as organizational change. New methods of modeling, which can fulfil technical and physical boundary conditions and nevertheless consider economic environmental and social aspects, are also developed.

Keywords

Active Disturbance Rejection Control --- Probabilistic Robustness --- Monte Carlo --- secondary air regulation --- areal grey relational analysis --- fuzzy rough set --- game theory --- AHP --- uncertainty analysis --- coal-fired power unit --- renewable energy --- biomass --- torrefaction --- grindability --- rotary reactor --- generation system scheduling --- integrated model --- basic plan for long-term electricity supply and demand --- forecasting model for electricity demand --- biomass --- Pinus pinaster --- fuel --- heating value --- fuelwood value index --- energy density --- ash recovery --- peach --- Energy Life-Cycle Assessment --- post-harvest --- fuzzy logic control --- artificial neural networks control --- tidal stream generator --- swell effect disturbance --- doubly fed induction generator --- maximum power point tracking --- capacity investment --- market power --- wind resources --- dynamic planning --- stochastic approach --- levelized cost of energy --- photovoltaic with energy storage system --- HOMER simulation --- LCOE comparison --- sensitivity analysis --- transient impact --- renewable energy source penetration --- power system stability --- robust optimization --- renewable energy --- flexibility --- deficit --- uncertainty --- flexible resource --- energy storage systems --- active power harmonics filter --- electrostatic devices --- hysteresis switching --- op-amp --- power electronics --- power supply reliability --- electricity --- manufacturing industry --- choice experiment --- willingness to pay --- nexus concept --- energy modelling --- resource efficiency --- renewable energy --- low-carbon economy --- forecasting --- multilayer perception --- photovoltaic --- sustainable energy --- pseudo-Huber loss --- energy from biomass --- textile industrial sector --- alternative energy --- SWOT analysis --- energy costs --- Internet of Things --- thermodynamic cycle concepts --- sustainability --- modified cycle concepts --- efficiency --- energy systems --- renewable energies --- wind power plants --- hollow rollers --- large bearings

Knowledge Manageation and Big Data: Implications for Sustainability, Policy Making and Competitiveness

Authors: ---
ISBN: 9783039280087 / 9783039280094 Year: Pages: 416 DOI: 10.3390/books978-3-03928-009-4 Language: eng
Publisher: MDPI - Multidisciplinary Digital Publishing Institute
Subject: Social Sciences --- Education
Added to DOAB on : 2020-01-07 09:21:22
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The evolution of knowledge management theory and the special emphasis on human and social capital sets new challenges for knowledge-driven and technology-enabled innovation. Emerging technologies including big data and analytics have significant implications for sustainability, policy making, and competitiveness. This edited volume promotes scientific research into the potential contributions knowledge management can make to the new era of innovation and social inclusive economic growth. We are grateful to all the contributors of this edition for their intellectual work. The organization of the relevant debate is aligned around three pillars: SECTION A. DATA, KNOWLEDGE, HUMAN AND SOCIAL CAPITAL FOR INNOVATION: We elaborate on the new era of knowledge types and the emerging forms of social capital and their impact on technology-driven innovation. Topics include: Social Networks; Smart Education; Social Capital; Corporate Innovation; Disruptive Innovation; Knowledge integration; Enhanced Decision-Making. SECTION B. KNOWLEDGE MANAGEMENT & BIG DATA ENABLED INNOVATION: In this section, knowledge management and big data applications and systems are presented. Selective topic include: Crowdsourcing Analysis; Natural Language Processing; Data Governance; Knowledge Extraction; Ontology Design Semantic Modeling SECTION C. SUSTAINABLE DEVELOPMENT: In the section, the debate on the impact of knowledge management and big data research to sustainability is promoted with integrative discussion of complementary social and technological factors including: Big Social Networks on Sustainable Economic Development; Business Intelligence

Keywords

innovation capability --- social capital --- knowledge creation --- human capital investment --- training --- education --- communication --- six sigma --- structural equation model --- leadership --- innovation performance --- knowledge sharing --- social capital --- project-based organization --- citizen-scientist --- climate change --- crowdsourcing --- MTurk --- social networks --- Twitter --- social networks --- big data --- big data analysis --- sustainable development --- text mining --- NLP --- technological information --- patent analysis --- text structure --- top management team --- strategic decision-making --- risk perception --- knowledge creation process --- process innovation capability --- product innovation capability --- sustainable competitive advantage --- data governance --- cloud computing --- cloud data governance --- taxonomy --- systematic review --- holistic --- text feature extraction --- patent analysis --- hybrid neural networks --- mechanical patent classification --- international technological collaboration --- IC manufacturing --- patent association analysis --- social network analysis --- collaboration network --- corporate sustainability --- business intelligence --- multi-dimensional data model --- key performance indicators --- knowledge assets --- knowledge embeddedness --- knowledge specificity --- disruptive innovation --- personalized business mode --- technology acceptance model --- user acceptance --- data analysis --- ontology design --- knowledge management --- heterogeneous architectures --- Big Data --- transformational training programs-TTP --- quality orientation of employees-QOE --- employee loyalty-EL --- universities --- Jordan --- administrative file --- administrative procedure --- sustainability --- open data --- linked data --- provenance --- RDF --- PROV-O --- P-PLAN --- big data --- visualizing --- intellectual structure --- big data environment --- co-citation network --- collaboration network --- sustainability --- bibliometric --- knowledge management --- keywords analysis --- intellectual structure --- emerging trends --- knowledge mapping --- new ventures --- internal social networks --- absorptive capacity --- innovation --- big data --- competitive advantage --- disruptive innovation --- human capital --- innovation --- knowledge management --- sustainability --- smart education --- social networks --- social media --- conceptual maturity model --- technology-enhanced learning process

Modeling and Simulation of Carbon Emission Related Issues

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ISBN: 9783039213115 / 9783039213122 Year: Pages: 420 DOI: 10.3390/books978-3-03921-312-2 Language: eng
Publisher: MDPI - Multidisciplinary Digital Publishing Institute
Subject: Economics
Added to DOAB on : 2019-12-09 11:49:15
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Carbon emissions reached an all-time high in 2018, when global carbon dioxide emissions from burning fossil fuels increased by about 2.7%, after a 1.6% increase in 2017. Thus, we need to pay special attention to carbon emissions and work out possible solutions if we still want to meet the targets of the Paris climate agreement. This Special Issue collects 16 carbon emissions-related papers (including 5 that are carbon tax-related) and 4 energy-related papers using various methods or models, such as the input–output model, decoupling analysis, life cycle impact analysis (LCIA), relational analysis model, generalized Divisia index model (GDIM), forecasting model, three-indicator allocation model, mathematical programming, real options model, multiple linear regression, etc. The research studies come from China, Taiwan, Brazil, Thailand, and United States. These researches involved various industries such as agricultural industry, transportation industry, power industry, tire industry, textile industry, wave energy industry, natural gas industry, and petroleum industry. Although this Special Issue does not fully solve our concerns, it still provides abundant material for implementing energy conservation and carbon emissions reduction. However, there are still many issues regarding the problems caused by global warming that require research.

Keywords

household consumption --- total carbon emissions --- CLA Model --- influence factor --- STIRPAT model --- carbon emissions --- influencing factors --- decoupling elasticity --- Generalized Divisia Index --- Tapio’s model --- household CO2 emissions (HCEs) --- per capita household CO2 emissions (PHCEs) --- input–output model --- refined oil distribution --- inventory routing problem --- hybrid genetic algorithm --- carbon emissions --- carbon tax --- decoupling analysis --- greenhouse gas emissions --- carbon footprint --- low-carbon agriculture --- causal factors --- CO2 emissions forecasting --- VARIMAX-ECM model --- sustainable development --- economic growth --- population growth --- carbon price fluctuation --- renewable energy --- real options analysis --- investment under uncertainty --- carbon emissions --- carbon tax --- activity-based costing (ABC) --- capacity expansion --- green quality management --- product-mix decision model --- mathematical programming --- long-term --- final energy consumption --- LT-ARIMAXS model --- sustainable development --- economic growth and the environment --- error correction mechanism model --- activity-based costing (ABC) --- mathematical programming --- textile industry --- green manufacturing --- Industry 4.0 --- carbon emissions --- Activity-Based Costing (ABC) --- carbon emissions --- tire industry --- carbon trading --- mathematical programming --- quotas allocation --- carbon emissions --- electric power industry --- fairness --- agricultural-related sectors --- carbon emissions --- carbon tax --- China --- power industry --- carbon emissions --- Generalized Divisia Index --- scenario forecast --- Monte Carlo method --- wave energy converter --- life cycle assessment --- energy intensity --- carbon intensity --- aircraft --- taxi time --- takeoff rate --- pushback control --- green transportation --- carbon emissions --- reducing carbon emissions --- carbon intensity target --- energy structure --- gray model (GM (1, 1)) --- generalized regression neural network (GRNN) --- Markov forecasting model --- non-linear programming --- ethylene supply --- shale gas --- non-energy uses of fossil fuels --- socio-economic scenarios --- climate change --- tea --- climate change --- sustainable agriculture --- environmental impact --- carbon footprint --- CO2 emissions --- HOMER software --- hybrid ship power systems --- Li-ion battery --- shipping --- n/a

Multi-Objective and Multi-Attribute Optimisation for Sustainable Development Decision Aiding

Authors: --- ---
ISBN: 9783039211425 / 9783039211432 Year: Pages: 394 DOI: 10.3390/books978-3-03921-143-2 Language: eng
Publisher: MDPI - Multidisciplinary Digital Publishing Institute
Subject: Computer Science
Added to DOAB on : 2019-12-09 11:49:15
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Optimization is considered as a decision-making process for getting the most out of available resources for the best attainable results. Many real-world problems are multi-objective or multi-attribute problems that naturally involve several competing objectives that need to be optimized simultaneously, while respecting some constraints or involving selection among feasible discrete alternatives. In this Reprint of the Special Issue, 19 research papers co-authored by 88 researchers from 14 different countries explore aspects of multi-objective or multi-attribute modeling and optimization in crisp or uncertain environments by suggesting multiple-attribute decision-making (MADM) and multi-objective decision-making (MODM) approaches. The papers elaborate upon the approaches of state-of-the-art case studies in selected areas of applications related to sustainable development decision aiding in engineering and management, including construction, transportation, infrastructure development, production, and organization management.

Keywords

port scheduling --- berth-quay crane joint scheduling --- optimization study --- hybrid mathematical model --- multi-objective decision-making (MODM) --- sustainability --- vibration suppression --- single-cylinder engine --- multi-objective evolutionary algorithms --- dynamic analysis --- crank–slider --- ecological building --- clay blocks --- compacted clay --- straw bales --- cost calculation --- group decision making --- hesitant fuzzy set --- hospital evaluation --- linguistic hesitant fuzzy set and Standard variance --- bi-objective optimization --- heuristics --- discrete time/cost trade-off --- project scheduling --- Rough Hamy aggregator --- sustainable traffic --- Rough BWM --- Rough WASPAS --- construction --- roundabout --- optimization --- genetic algorithm --- artificial neural network --- apple --- drying --- rehydration --- renewable energy --- technology selection problem --- sustainable energy evaluation --- sustainable energy developments --- sustainable developments --- hierarchical SWARA --- MULTIMOORA --- multiple criteria decision making (MCDM) --- Multiple Attribute Decision Making (MADM) --- ranking --- healthcare facility --- location-allocation problem --- multiple objective optimization --- bi-level programming --- particle swarm optimization (PSO) --- cleaner production (CP) --- extended Tomada de Decisão Interativa Multicritério (TODIM) --- probabilistic linguistic term sets (PLTSs) --- hybrid multi-criteria decision making (MCDM) --- gold mines --- conceptual framework --- organizations --- sustainability --- sustainability hierarchy --- Total Interpretive Structural Modeling (TISM) --- sustainable transport --- public transport --- emission of pollutants --- travel times --- bus pass --- MCDM --- critical information infrastructures --- fuzzy --- AHP --- WSM --- WASPAS --- MCDM --- hybrid --- management --- grey --- SWARA --- TOPSIS-GM --- ARAS-G --- Geomean --- energy efficiency --- comfort of use of buildings --- historic buildings --- sustainable development --- surface transport --- innovation in transport --- policy measures --- sustainable transport policy --- multiple criteria decision aid --- hybrid expert system --- bat algorithm --- particle swarm optimization algorithm --- multi-purpose system --- water resource management --- project --- construction --- contractor --- multiple-criteria decision-making --- AHP --- sustainable solution --- choice --- expert --- building investment project --- risk --- assessment --- verbal analysis --- multiple-attribute decision-making (MADM) --- multi-objective decision-making (MODM) --- optimization --- engineering --- management --- sustainable development

Methods and Concepts for Designing and Validating Smart Grid Systems

Authors: --- ---
ISBN: 9783039216482 / 9783039216499 Year: Pages: 408 DOI: 10.3390/books978-3-03921-649-9 Language: eng
Publisher: MDPI - Multidisciplinary Digital Publishing Institute
Subject: Technology (General) --- General and Civil Engineering
Added to DOAB on : 2019-12-09 16:10:12
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Energy efficiency and low-carbon technologies are key contributors to curtailing the emission of greenhouse gases that continue to cause global warming. The efforts to reduce greenhouse gas emissions also strongly affect electrical power systems. Renewable sources, storage systems, and flexible loads provide new system controls, but power system operators and utilities have to deal with their fluctuating nature, limited storage capabilities, and typically higher infrastructure complexity with a growing number of heterogeneous components. In addition to the technological change of new components, the liberalization of energy markets and new regulatory rules bring contextual change that necessitates the restructuring of the design and operation of future energy systems. Sophisticated component design methods, intelligent information and communication architectures, automation and control concepts, new and advanced markets, as well as proper standards are necessary in order to manage the higher complexity of such intelligent power systems that form smart grids. Due to the considerably higher complexity of such cyber-physical energy systems, constituting the power system, automation, protection, information and communication technology (ICT), and system services, it is expected that the design and validation of smart-grid configurations will play a major role in future technology and system developments. However, an integrated approach for the design and evaluation of smart-grid configurations incorporating these diverse constituent parts remains evasive. The currently available validation approaches focus mainly on component-oriented methods. In order to guarantee a sustainable, affordable, and secure supply of electricity through the transition to a future smart grid with considerably higher complexity and innovation, new design, validation, and testing methods appropriate for cyber-physical systems are required. Therefore, this book summarizes recent research results and developments related to the design and validation of smart grid systems.

Keywords

adaptive control --- fuzzy logic --- cell --- frequency containment control (FCC) --- power frequency characteristic --- droop control --- smart grids --- substation automation system (SAS) --- high-availability seamless redundancy (HSR) --- seamless communications --- traffic reduction technique --- Power Hardware-in-the-Loop (PHIL) --- interface algorithm (IA) --- operational range of PHIL --- linear/switching amplifier --- cyber-physical energy system --- co-simulation --- conceptual structuration --- coupling method --- linear decision rules --- optimal reserve allocation --- robust optimization --- web of cells --- demand response --- real-time balancing market --- elastic demand bids --- shiftable loads --- market design --- market design elements --- Web-of-Cells --- procurement scheme --- remuneration scheme --- pricing scheme --- cascading procurement --- real-time simulation --- hardware-in-the-Loop --- synchrophasors --- micro-synchrophasors --- distribution phasor measurement units --- distribution grid --- time synchronization --- PHIL (power hardware in the loop) --- simulation initialization --- synchronization --- time delay --- synchronous power system --- stability --- accuracy --- peer-to-peer --- distributed control --- device-to-device communication --- voltage control --- experimentation --- smart grid --- cyber physical co-simulation --- information and communication technology --- 4G Long Term Evolution—LTE --- network reconfiguration --- fault management --- power loss allocation --- plug-in electric vehicle --- smart grid --- locational marginal prices --- microgrid --- resilience --- investment --- underground cabling --- network outage --- battery energy storage system (BESS) --- micro combined heat and power (micro-CHP) --- electricity distribution --- solar photovoltaics (PV) --- islanded operation --- distributed control --- microgrid --- hardware-in-the-loop --- average consensus --- multi-agent system --- active distribution network --- laboratory testbed --- renewable energy sources --- DC link --- centralised control --- interoperability --- smart energy systems --- use cases --- IEC 62559 --- SGAM --- TOGAF --- integration profiles --- IHE --- testing --- gazelle --- connectathon --- Hardware-in-the-Loop --- Software-in-the-Loop --- Power-Hardware-in-the-Loop --- Quasi-Dynamic Power-Hardware-in-the-Loop --- smart grids --- real-time simulation --- validation and testing --- decentralised energy system --- smart grids control strategies --- smart grid --- wind power --- synchronized measurements --- PMU --- data mining --- Architecture --- Development --- Enterprise Architecture Management --- Model-Based Software Engineering --- Smart Grid --- Smart Grid Architecture Model --- System-of-Systems --- Validation --- design, development and implementation methods for smart grid technologies --- modelling and simulation of smart grid systems --- co-simulation-based assessment methods --- validation techniques for innovative smart grid solutions --- real-time simulation and hardware-in-the-loop experiments

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