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The purpose of this paper is to examine the impact of renewable energy on the power supply chain and to study whether the renewable generator or the power grid that…
The purpose of this paper is to examine the impact of renewable energy on the power supply chain and to study whether the renewable generator or the power grid that purchases power from the power spot market is better when the actual generation of renewable energy is insufficient. The authors want to compare and analyze the different power supply chain operation modes and discuss the optimal mode selection for renewable energy generator and power grid in different situations.
This paper studies the grid-led price competition game in the power supply chain, in which the power grid as a leader decides the price of transmission and distribution, and generators determine the power grid price. The renewable energy power generator and the traditional energy power generator conduct a price competition game; on the other hand, the power grid and power generators conduct Stackelberg games. The authors analyze the power supply of single power generator and two power generators, respectively, and research on the situation that the renewable energy cannot be fully recharged when the actual power generation is insufficient.
The study finds that both renewable and traditional power grid prices decline as price sensitivity coefficient of demand and installed capacity of renewable energy generators increase. Power grid premium decreases as the price sensitivity coefficient of demand increases, but rises as the installed capacity of renewable energy generator increases. When there is a shortage of power, if the installed capacity of renewable energy is relatively small and price sensitivity coefficient of demand is relatively large, the grid purchases the power from power spot market and shares cost with renewable energy generators, leading to higher expected profits of the renewable energy generators. On the contrary, the renewable energy generators prefer to make up power shortage themselves. For the power grid, purchasing the power by the renewable energy generators when there is a power shortage can bring more utility to the power grid when the installed capacity of renewable energy is lower and the demand price sensitivity coefficient is higher. When the installed capacity of renewable energy is high and the price sensitivity coefficient of demand is moderate, or the installed capacity of renewable energy is moderate and the demand price sensitivity coefficient is high, a generator that simultaneously possesses two kinds of energy source will bring more utility to the power grid. If the installed capacity of renewable energy and the demand price sensitivity coefficient both are small or the installed capacity of renewable energy and the price sensitivity coefficient of demand both are large, the power grid prefers to purchase the power by itself when there is a power shortage.
The goal of our paper analysis is to explore the implications of the theoretical model and address the series of research questions regarding the impact of the renewable energy on the power supply chain. The results of this study have key implications for reality. This paper sheds light on the power supply chain operation mode selection, which can potentially be used for the renewable energy generators to choose their operating mode and can also help traditional energy generators and power grid enterprises maximize their utility. This paper also has some references for the government to formulate the corresponding renewable energy development policy.
This paper studies the power operation mode under the uncertainty of supply and demand, and compares the advantages and disadvantages of renewable energy generator that makes up the shortage or the power grid purchases the power from power spot market then shares cost with the renewable energy generator. This paper analyzes the power grid-led coordination problem in a power supply chain, compares and analyzes the price competition game model of single power generator and dual power generators, and compares the different risk preferences of power grid.
This study proposes targeted modernization of the Department of Defense (DoD's) Joint Forces Ammunition Logistics information system by implementing the optimized…
This study proposes targeted modernization of the Department of Defense (DoD's) Joint Forces Ammunition Logistics information system by implementing the optimized innovative information technology open architecture design and integrating Radio Frequency Identification Device data technologies and real-time optimization and control mechanisms as the critical technology components of the solution. The innovative information technology, which pursues the focused logistics, will be deployed in 36 months at the estimated cost of $568 million in constant dollars. We estimate that the Systems, Applications, Products (SAP)-based enterprise integration solution that the Army currently pursues will cost another $1.5 billion through the year 2014; however, it is unlikely to deliver the intended technical capabilities.
The purpose of this paper is to examine differences in manufacturing managers' perceptions of functional area power in manufacturing organizations to address the…
The purpose of this paper is to examine differences in manufacturing managers' perceptions of functional area power in manufacturing organizations to address the perception in the literature that manufacturing has little if any power in the organization.
Survey data gathered from 129 manufacturing executives in the USA are used to examine their perceptions of differences in functional power in manufacturing firms. Relative rankings of functional areas for four types of power – position, expertise, resource, and political – are used to examine perceived differences, and the relationship between power and the role of the manufacturing executive in strategic decision making.
Contrary to prior assertions in the manufacturing strategy literature, it was found that the manufacturing and marketing areas are perceived by manufacturing managers to be the most powerful functions, switching in their dominant roles depending upon the type of power. In addition, a relationship exists between position, expertise, and political power and the role of the manufacturing executive.
Although, this research includes a second respondent from a sub‐sample of firms, future research should examine not only the manufacturing managers' perceptions of intra‐organizational power, but also should dovetail the paper's findings with perceptions of managers in other functional areas as well.
Manufacturing managers can take actions to enhance their role in business‐level strategic decisions and be proactive in increasing the power of their functional area.
This paper addresses intra‐organizational power, which has not been examined in the manufacturing strategy literature from the perspective of the manufacturing manager's perception.
The prospect theory is potentially an essential ingredient in modeling the disposition effect. However, many scholars have tried to explain the disposition effect with the…
The prospect theory is potentially an essential ingredient in modeling the disposition effect. However, many scholars have tried to explain the disposition effect with the help of prospect theory and they came to opposite conclusions. The purpose of this paper is to examine the impact of value function of the prospect theory on predicting the disposition effect.
Lagrange multiplier optimization and dynamic programming method are used to solve the representative investor’s optimal portfolio choice problem. Furthermore, numerical simulation is used to compare the prediction ability of different types of value function.
The authors support that the value function has a crucial role in predicting the disposition effect with prospect theory, i.e. the curvature and boundedness of the value function may influence the performance of applying the prospect theory in the disposition effect. They conclude that a piecewise negative exponential value function can predict the disposition effect, while others like the piecewise power value function may not.
Extant literature about modeling the disposition effect with the prospect theory mostly focus on the time when gain-loss utility occurs or the selection of reference point. This paper based on the value function properties provides a new perspective in analyzing the crucial role that value function has in predicting financial market anomalies.