Aalto Systems Forum
Optimization and Equilibrium Modeling for Energy Markets
(Slides available here)
Thursday 5th September 2019 at 16.15-17.00
Lecture Hall M1, Otakaari 1 (see map)
Systems Analysis Laboratory
Department of Mathematics and Systems Analysis
Aalto University School of Science
In this talk we present optimization as well as equilibrium modeling with an application to energy markets. Equilibrium problems are shown to encompass one or more optimization problems, market clearing and many other engineering-economic systems and are typically expressed as either a mixed complementarity problem (MCP) or a variational inequality problem. We present a number of representative examples of both optimization and equilibrium problems in power and natural gas markets to show the applicability and usefulness of these paradigms.
Dr. Steven A. Gabriel is a Full Professor in the Department of Mechanical Engineering, as well as in the Applied Mathematics & Statistics, and Scientific Computation Program at the University of Maryland-College Park (UMCP). He has also been a Co-Director then Director of the Master of Engineering and Public Policy Program. In addition, he is a Research Professor at DIW (German Institute for Economic Research) in Berlin and an Adjunct Professor at the Norwegian University of Science and Technology (NTNU) in Trondheim in the Department of Industrial Economics and Technology Management, as well as a part of the Energy Transition Programme at NTNU.
His research focus has been on modeling and algorithm design for engineering-economic systems combining game theory (one and two-level equilibrium problems), optimization, simulation, and other operations research/decision sciences areas. Application areas have included energy (power and natural gas), the environment, transportation, project management, and telecommunications. Selected honors include: being the Gilbert White Fellow for 2007-2008 at Resources for the Future, analyzing/developing energy equilibrium models, Washington, DC.; the 2014-2015 Professeur Invité Trottier at the Institut de l'Énergie Trottier at Polytechnique Montréal focusing on energy-economic modeling and policy questions, and a Humboldt Fellow from the German Alexander von Humboldt Foundation in cooperation with DIW (2015-2016) in energy market equilibrium modeling. Dr. Gabriel has an M.S. in Operations Research from Stanford University (1984), and an M.A. (1989) and Ph.D. (1992) in Mathematical Sciences from the Johns Hopkins University.
Steven A. Gabriel, Ph.D., www.stevenagabriel.umd.edu
University of Maryland
-Full Professor, Dept. of Mechanical Engineering, enme.umd.edu
-Full Professor, Applied Math & Statistics, & Scientific Computation Program, amsc.umd.edu
-Adjunct Professor, Dept. of Industrial Economics and Technology Management, Norwegian University of Science and Technology, Trondheim, Norway, ntnu.edu/iot, Energy Transition Programme, https://www.ntnu.edu/energytransition
-Research Professor, DIW (German Institute for Economic Research), Berlin
This event is open to all interested participants, and the lecture there will be an opportunity for informal discussions. Those who are planning to attend are kindly requested to enroll here as this helps in providing sufficient refreshments.
At noon on Friday, 6 September 2019, Prof. Gabriel will be the official opponent in the public defence of Vilma Virasjokis's Doctoral Dissertation entitled Optimization Models for Assessing Energy Systems in Transition (Lecture Hall H304, Otakaari 1). You are most welcome to attend this public defence.
Aalto Systems Forum
The growing challenge of our time is the need to understand and to manage wholes, i.e. systems. Problems in technology, economy, organisations and the environment are strongly interconnected, include multiple criteria and evolve dynamically over time. Systems Sciences as a field of scientific inquiry develops tools and approaches which help address these problems.
Aalto Systems Forum provides a platform for a dialogue between practitioners and researchers, based on major research results and accompanying insights which are presented by leading international scholars.
Aalto Systems Forum is organized by the Systems Analysis Laboratory research group at the Department of Mathematics and Systems Analysis of Aalto University School of Science. http://sal.aalto.fi/en/aaltosystemsforum /