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Search indexed NASA NTRS and DOE OSTI research on propulsion, heat transfer, battery materials and energy systems. Follow report and document links to the original sources.

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At least 19 records

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DOE OSTI2022

Allocation Mechanisms in Rationed Markets

Economic theory has come to play an important role in power system operations through the design of wholesale markets that are central to their operation. Furthermore, transactive energy places economic theory as a cornerstone in its operational concept as it seeks to integrate the technical needs of the power system with the preferences of its participants. Traditionally the mechanism employed is the continuous double-auction but de-pending on the circumstances the power system find itself in, this mechanism may or may not be the most appropriate, i.e. a one-size fits all market institution cannot be recommended without regard for the features of the underlying trading environment. This paper seeks to explain the economic rationale that guides the choice of a market institution and takes recourse to a theoretical demonstration in the context of a rationed power system scenario where demand exceeds generation (due to any number of events such as outages, microgrid operation, etc) and electrical energy must be rationed to better understand which types of mechanisms are most appropriate.

transactive energy, power system economics, econom↗

NASA NTRS1972

Determination of Fares: Pricing Theory and Economic Efficiency

The concept of economic efficiency is described, its application to the pricing of air transport services, and its relevance as a policy objective are outlined. The first two sections discuss economic efficiency in general terms, whereas the third applies this norm to several airline pricing problems. The final section emphasizes the importance of industry behavior as a parameter in policy analysis.

Miller, J. C., III↗

DOE OSTI2018

Towards a theory of economic value for modeling and simulation: incremental cost of parallel simulation (wip)

A useful perspective on the economic value of simulation in engineering comes from considering the role simulation plays in constructing a system. We propose a conceptual model that combines an embryonic concept of the value of an information bit with cost estimation tools used in software engineering. The model provides an economic justification for the common conception that models should be built to address specific questions rather than to comprehensively represent a referent system. Extending these ideas, we offer a model for the incremental value of parallel execution to explain why simulation applications that take advantage of sophisticated parallel discrete event simulation tools form a relatively narrow niche despite the ubiquity of parallel computing hardware. The proposed model enables us to bring value of information criteria into model development and to make predictions about the future of parallel simulation applications.

Nutaro, James J↗

DOE OSTI2017

Hurricane Sandy Economic Impacts Assessment: A Computable General Equilibrium Approach and Validation

Economists use computable general equilibrium (CGE) models to assess how economies react and self-organize after changes in policies, technology, and other exogenous shocks. CGE models are equation-based, empirically calibrated, and inspired by Neoclassical economic theory. The focus of this work was to validate the National Infrastructure Simulation and Analysis Center (NISAC) CGE model and apply it to the problem of assessing the economic impacts of severe events. We used the 2012 Hurricane Sandy event as our validation case. In particular, this work first introduces the model and then describes the validation approach and the empirical data available for studying the event of focus. Shocks to the model are then formalized and applied. Finally, model results and limitations are presented and discussed, pointing out both the model degree of accuracy and the assessed total damage caused by Hurricane Sandy.

97 MATHEMATICS AND COMPUTING↗

NASA NTRS2023

Migration and Livelihood Constellations: Assessing Common Themes in the Face of Environmental Change in Somalia and Among Agro-Pastoral Peoples

Research on migration has become more challenging due to at least four factors: (1) more complex migration traditions; (2) the development of migration economies that engage many types of migrants from ever more social and cultural backgrounds; (3) increasing likelihood of climate change-driven environmental migration; and (4) increasing likelihood of conflict-based migration in some contexts. These developments have shaken economic theories of migration and have encouraged interdisciplinary, methodologically mixed, qualitative and quantitative research and analysis. From a review of the literature, we have gleaned 11 common themes about environmental, economic and conflict migration that we differentiate by process (migration behaviours that are still evolving) and patterns (migration behaviours that have become customary). We then consider how positive and negative dimensions of migration can be captured and represented with close attention to livelihood constellations (multiple economic activities combined by individuals, households and families). Finally, focusing on Somalia and agro-pastoral peoples generally, where recent environmental and conflict migration have been added to decades of economic migration and centuries of seasonal, environmental migration associated with pastoralism, we combine historical and qualitative work to demonstrate the value of a livelihood constellation perspective.

migration↗

DOE OSTI2020

Quantifying Value with Effective Complexity

We present a new economic theory of value based on complexity theory. For simplicity, we call this theory ‘complexalism’ (a portmanteau of ‘complexity’ and ‘capitalism’). Complexalism is a framework that establishes valuations by quantifying the present and future complexities of objects and their surroundings. This framework reparameterises questions of economic value into more objectively addressable subcomponents. First, we motivate the importance of developing alternative frameworks for value. Next, we discuss a novel three-dimensional framework to analyse value and the use of effective complexity as a proxy metric of economic value. Finally, we propose explicit methods for quantifying complexity and simulating valuations. The resulting valuations may serve to benchmark prices and can be used in evaluating the market rules of engagement.

97 MATHEMATICS AND COMPUTING↗

DOE OSTI2019

Transactive Energy: Stabilizing Oscillations in Integrated Wholesale-Retail Energy Markets

Transactive energy is a control technique that uses market mechanisms to achieve desired control objectives. A number of studies have identified a well-known economic theory effect called a ``cobweb'' that can occur when the transactive control system is not properly designed. This work proposes a control framework to mitigate this effect by adding an extra control layer. This proposed control layer expresses the flexibility of load on the distribution side into the transmission system. By using FNCS, a co-simulation platform, new control framework is evaluated on a power system model composed of a single transmission system with the potential of thousands of flexible distribution systems. The co-simulation is able to replicate the cobweb effect and demonstrate that improper transactive control design can create oscillations at high penetrations of price-responsive loads. Furthermore, the proposed transactive control system is shown to be able to eliminate the cobweb effect while also effectively diminishing price and load spikes.

power distribution control, power distribution eco↗

DOE OSTI2018

Minimax theorems in fuzzy metric spaces

A minimax theorem is a theorem providing conditions which guarantee that the max–min inequality is also an equality. The first theorem in this sense is von Neumann’s minimax theorem, which was considered the starting point of game theory. Since then, several alternative generalizations of von Neumann’s original theorem have appeared in the literature. Variational inequality and minimax problems are of fundamental importance in modern non-linear analysis. They are widely applied in mechanics, differential equations, control theory, mathematical economics, game theory, and optimization. The purpose of this paper is first to establish a minimax theorem for mixed lower–upper semi-continuous functions in fuzzy metric spaces which extends the minimax theorems of many von Neumann types. As applications, we utilize this result to study the existence problems of solutions for abstract variational inequalities and quasi-variational inequalities in fuzzy metric spaces and to study the coincidence problems and saddle problems in fuzzy metric spaces.

97 MATHEMATICS AND COMPUTING↗

DOE OSTI2024

An empirical analysis of supply offers in the ERCOT operating reserves markets

Here, this paper seeks to improve theoretical and empirical understanding of supplier dynamics in wholesale markets for operating reserves, which have been understudied compared to energy markets. We begin by identifying several economic factors that unit owners may consider when submitting offers into operating reserves auctions in two-stage, co-optimized markets common across much of North America. Next, we analyze historical offer data from the Electric Reliability Council of Texas (ERCOT) market to assess whether actual reserve market behavior aligns with expectations based on economic theory, as well as with commonly used assumptions in electricity market modeling efforts. We find that the aggregate supply of operating reserves in ERCOT varies meaningfully over time, becoming more expensive during summer afternoons, which is consistent with theoretical expectations but contradicts the typical modeling assumption of temporally invariant reserve offers. Analysis of offers made by individual units uncovers additional insights, such as the existence of large offer pattern differences by unit owner and the tendency of battery storage units to submit very low offer prices. We conclude by discussing how our findings can be integrated into electricity market modeling assumptions to improve alignment with observed operating reserve offer inputs and pricing outcomes.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗

DOE OSTI2022

An agent-based modeling tool supporting bioenergy and bio-product community communication regarding cellulosic bioeconomy development

The emergence of the cellulosic bioeconomy requires not only adequate technological, economic, and policy advances, but also effective communication and coordination among the multiple stakeholders in the bioeconomy community. Aiming to facilitate stakeholder communication and collaboration for cellulosic bioeconomy growth, an agent-based model is developed as a community communication tool in this study. The tool simulates the behaviors and interactions of key stakeholders, as well as the responses and interactions between the stakeholders and biophysical, socioeconomic, and environmental conditions. The agent behavior rules are developed and validated based on behavior and economic theories and information attained from a stakeholder focus group study and a land use survey. A pilot study in a Central Illinois watershed shows stakeholder synergies, i.e., positive feedback loops across multiple stakeholders. The modeling tool's role in facilitating community communication is demonstrated via the focus group study. A comparison of policy scenarios suggests that the cellulosic bioeconomy development is fastest under a portfolio of policies combining the views of the multiple stakeholders. Critically, subsidy for small-scale bio-facilities is essential as it rapidly initializes an early market for cellulosic feedstocks and the adoption of Miscanthus. As a result, the communication tool is applied to bringing stakeholders and researchers together to develop shared visions, assess barriers, and explore solution portfolios to initialize and speed up the regional cellulosic bioeconomy.

09 BIOMASS FUELS↗

DOE OSTI2022

cabbi-bio/BECT-ABM

Yang, Pan↗

NASA NTRS1974

The value of improved (ERS) information based on domestic distribution effects of U.S. agriculture crops

The value of improving information for forecasting future crop harvests was investigated. Emphasis was placed upon establishing practical evaluation procedures firmly based in economic theory. The analysis was applied to the case of U.S. domestic wheat consumption. Estimates for a cost of storage function and a demand function for wheat were calculated. A model of market determinations of wheat inventories was developed for inventory adjustment. The carry-over horizon is computed by the solution of a nonlinear programming problem, and related variables such as spot and future price at each stage are determined. The model is adaptable to other markets. Results are shown to depend critically on the accuracy of current and proposed measurement techniques. The quantitative results are presented parametrically, in terms of various possible values of current and future accuracies.

Bradford, D. F.↗

NASA NTRS1976

Quantifying the benefits to the national economy from secondary applications of NASA technology, executive summary

The feasibility of systematically quantifying the economic benefits of secondary applications of NASA related R and D was investigated. Based upon the tools of economic theory and econometric analysis, a set of empirical methods was developed and selected applications were made to demonstrate their workability. Analyses of the technological developments related to integrated circuits, cryogenic insulation, gas turbines, and computer programs for structural analysis indicated substantial secondary benefits accruing from NASA's R and D in these areas.

Source record↗

NASA NTRS1976

Quantifying the benefits to the national economy from secondary applications of NASA technology

The feasibility of systematically quantifying the economic benefits of secondary applications of NASA related R and D is investigated. Based upon the tools of economic theory and econometric analysis, it develops a set of empirical methods and makes selected applications to demonstrate their workability. Analyses of the technological developments related to integrated circuits, cryogenic insulation, gas turbines, and computer programs for structural analysis indicated substantial secondary benefits accruing from NASA's R and D in these areas.

Source record↗

NASA NTRS1979

The economics of project analysis: Optimal investment criteria and methods of study

Insight is provided toward the development of an optimal program for investment analysis of project proposals offering commercial potential and its components. This involves a critique of economic investment criteria viewed in relation to requirements of engineering economy analysis. An outline for a systems approach to project analysis is given Application of the Leontief input-output methodology to analysis of projects involving multiple processes and products is investigated. Effective application of elements of neoclassical economic theory to investment analysis of project components is demonstrated. Patterns of both static and dynamic activity levels are incorporated.

Scriven, M. C.↗

NASA NTRS1984

CYBER 200 Applications Seminar

Applications suited for the CYBER 200 digital computer are discussed. Various areas of application including meteorology, algorithms, fluid dynamics, monte carlo methods, petroleum, electronic circuit simulation, biochemistry, lattice gauge theory, economics and ray tracing are discussed.

Gary, J. P.↗

NASA NTRS1995

Entrepreneurship within General Aviation

Many modern economic theories place great importance upon entrepreneurship in the economy. Some see the entrepreneur as the individual who bears risk of operating a business in the face of uncertainty about future conditions and who is rewarded through profits and losses. The 20th century economist Joseph Schumpter saw the entrepreneur as the medium by which advancing technology is incorporated into society as businesses seek competitive advantages through more efficient product development processes. Due to the importance that capitalistic systems place upon entrepreneurship, it has become a well studied subject with many texts to discuss how entrepreneurs can succeed in modern society. Many entrepreneuring and business management courses go so far as to discuss the characteristic phases and prominent challenges that fledgling companies face in their efforts to bring a new product into a competitive market. However, even with all of these aids, start-up companies fail at an enormous rate. Indeed, the odds of shepherding a new company through the travails of becoming a well established company (as measured by the ability to reach Initial Public Offering (IPO)) have been estimated to be six in 1,000,000. Each niche industry has characteristic challenges which act as barriers to entry for new products into that industry. Thus, the applicability of broad generalizations is subject to limitations within niche markets. This paper will discuss entrepreneurship as it relates to general aviation. The goals of this paper will be to: introduce general aviation; discuss the details of marrying entrepreneurship with general aviation; and present a sample business plan which would characterize a possible entrepreneurial venture.

Ullmann, Brian M.↗

NASA NTRS2002

Science Outreach at NASA's Marshall Space Flight Center

At the end of World War II Duane Deming, an internationally known economist enunciated what later came to be called "Total Quality Management" (TQM). The basic thrust of this economic theory called for companies and governments to identify their customers and to do whatever was necessary to meet their demands and to keep them satisfied. It also called for companies to compete internally. That is, they were to build products that competed with their own so that they were always improving. Unfortunately most U.S. corporations failed to heed this advice. Consequently, the Japanese who actively sought Deming's advice and instituted it in their corporate planning, built an economy that outstripped that of the U.S. for the next three to four decades. Only after U.S. corporations reorganized and fashioned joint ventures which incorporated the tenets of TQM with their Japanese competitors did they start to catch up. Other institutions such as the U.S. government and its agencies and schools face the same problem. While the power of the U.S. government is in no danger of being usurped, its agencies and schools face real problems which can be traced back to not heeding Deming's advice. For example, the public schools are facing real pressure from private schools and home school families because they are not meeting the needs of the general public, Likewise, NASA and other government agencies find themselves shortchanged in funding because they have failed to convince the general public that their missions are important. In an attempt to convince the general public that its science mission is both interesting and important, in 1998 the Science Directorate at NASA's Marshall Space Flight Center (MSFC) instituted a new outreach effort using the interact to reach the general public as well as the students. They have called it 'Science@NASA'.

George Lebo↗