Search | Engineering

订阅投稿

首页工程期刊工程焦点工程成就工程前沿关于我们 English

资源类型

期刊论文 3

年份

2022 2

2017 1

关键词

检索范围：

排序：展示方式：

Optimal risk allocation in alliance infrastructure projects: A social preference perspective

Xiang DING, Qian LI

《工程管理前沿（英文）》 2022年第9卷第2期页码 326-336 doi: 10.1007/s42524-020-0145-x

摘要： The mechanism of risk allocation is designed to protect all stakeholders, and it is vital to project success. Qualitative and quantitative ways of optimizing risk allocation have been well documented in extant literature (e.g., allocation principles, models, and solutions), and the foci of existing research are usually the maximization of rational utility. Few research has focused on partners’ social preferences affecting the output of risk allocation. This study presents a quantitative approach based on modeling alliance member (AM)’s inequity aversion (IA) to analyze risk-sharing arrangements in an alliance project. Fehr and Schmidt’s inequity-aversion model is integrated into modeling partner’s utility. This paper derives results for an alliance leader (AL)’s optimal risk-sharing ratio and AM’s optimal risk-management effort simultaneously. The derivation is based on solving a restrained optimization problem using the conception and methods from Stackelberg game theory. Results show that an AM’s IA significantly affects risk allocation between AL and AM. Specifically, envious preference is positively related to AL’s optimal risk-sharing ratio, whereas guilty preference negatively affects AL’s optimal risk-sharing ratio. These findings will be of interest to academics and practitioners involved in designing alliance negotiations.

关键词： public project contract design risk sharing inequity aversion governance

HTML PDF 收藏

Optimal portfolio design of energy storage devices with financial and physical right market

《能源前沿（英文）》 2022年第16卷第1期页码 95-104 doi: 10.1007/s11708-021-0788-2

摘要： With the continuous development of the spot market, in the multi-stage power market environment with the day-ahead market and right market, the study associated with the portfolio of energy storage devices requires that attention should be paid to transmission congestion and power congestion. To maximize the profit of energy storage and avoid the imbalance of power supply and consumption and the risk of node price fluctuation caused by transmission congestion, this paper presents a portfolio strategy of energy storage devices with financial/physical contracts. First, the concepts of financial/physical transmission rights and financial/physical storage rights are proposed. Then, the portfolio models of financial contract and physical contract are established with the conditional value-at-risk to measure the risks. Finally, the portfolio models are verified through the test data of the Pennsylvania-New Jersey-Maryland (PJM) electric power spot market, and the comparison between the risk aversion of portfolios based on financial/physical contract with the portfolio of the market without rights. The simulation results show that the portfolio models proposed in this paper can effectively avoid the risk of market price fluctuations.

关键词： portfolio node price fluctuation transmission right energy storage right risk aversion

HTML PDF 收藏

Winner determination problem with loss-averse buyers in reverse auctions

Xiaohu QIAN, Min HUANG, Yangyang YU, Xingwei WANG

《工程管理前沿（英文）》 2017年第4卷第2期页码 212-220 doi: 10.15302/J-FEM-2017019

摘要： Reverse auctions have been widely adopted for purchasing goods and services. This paper considers a novel winner determination problem in a multiple-object reverse auction in which the buyer involves loss-averse behavior due to uncertain attributes. A corresponding winner determination model based on cumulative prospect theory is proposed. Due to the NP-hard characteristic, a loaded route strategy is proposed to ensure the feasibility of the model. Then, an improved ant colony algorithm that consists of a dynamic transition strategy and a Max-Min pheromone strategy is designed. Numerical experiments are conducted to illustrate the effectiveness of the proposed model and algorithm. We find that under the loaded route strategy, the improved ant colony algorithm performs better than the basic ant colony algorithm. In addition, the proposed model can effectively characterize the buyer’s loss-averse behavior.

关键词： reverse auction loss aversion winner determination improved ant colony algorithm