C. Hutters
12 records found
1
Authored
Economic Circuit Theory
Electrical Network Theory for Dynamical Economic Systems
In this paper, we develop what we refer to as economic circuit theory. Our purpose is to exploit the proven effectiveness of electrical circuit theory for the design, modeling, and analysis of complex electrical networks to economic systems; in particular, it permits us to inc ...
Price dynamics in the oil market
A bond-graph modeling approach
Current oil modeling techniques lack a comprehensive approach, as long-term oil prices are qualitatively modeled based on first principles, while short-term price transients are modeled using econometric methods. In this paper we propose a comprehensive bond-graph modeling app ...
The dissipation obstacle refers to the problem that there is no general solution to shape the energy of dissipative port-Hamiltonian (pH) systems with the method of Casimir functions. This paper argues that it is caused by lack of a strictly symplectic structure of a dissipative
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Contributed
Design and Analysis of Macro-Economic Models in the Laplace Domain
An Economic-Engineering Approach
In this thesis, we demonstrate the efficiency of Laplace domain techniques for the design and analysis of economic systems. To make the techniques applicable to economic modeling, we establish the economic analogs to the various tools and nomenclature in the engineering literatur
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Modeling, Design, Analysis, and Control of a Spot Market for Hydrogen
An Application of Economic Circuit Theory
In this thesis, we demonstrate the potential of economic circuit theory for the modeling, design, analysis, and control of a spot market for hydrogen. Spot prices are expected to be significantly more volatile than the current marginal-cost-plus pricing schemes and new methods ar
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The relativistic dynamics of labor economics
An economic engineering treatment
In this thesis, the analogy between the special theory of relativity and the dynamics of a laborer is developed in the context of labor economics. At the basis of this analogy stands an individual laborer who cannot supply more than 24$hours of labor in a day. This represents the
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Forecasting Mortgage Prepayments in Changing Interest Rate Regimes
A Hybrid Economic-Engineering Model with EMPC
Banks such as Rabobank depend on multi-year mortgage prepayment forecasts in order to make provisions for the associated prepayment risks. The econometric models they use are fitted to historical data, and as a consequence their models are fitted to a decreasing interest rate reg
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To match supply from intermittent renewable energy sources (RES) with demand, it is proposed in literature to introduce flexibility in the electricity market of the future. Flexibility can be provided by energy storage, demand response and cross-border transmission. In this thesi
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The Ripple Effect in the Housing Market
An Economic Engineering Model to Control Spatial Price Dynamics
In this thesis, an economic-engineering model of the ripple effect in the housing market is put forward. The ripple effect in the housing market is modeled by integrating into one model the local price dynamics of the rental market, the spatial price dynamics between local rental
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Economic Engineering for Supply Chain Management
Mitigating the Bullwhip Effect Using PID Control
The purpose of Supply Chain Management (SCM) is to maximize and stabilize the flow of goods through a supply chain. Disruptions to this flow, such as the Bullwhip Effect (BWE), have become increasingly severe and dynamic, challenging current methods for counteracting these disrup
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Modeling the Price Dynamics of Competition using Economic Engineering
A solution for regulators and hedge funds
Although competition is a dynamic phenomenon, currently used competition models do not take price dynamics into account, and some models are not even quantitative. This poses a problem for regulators or hedge funds and M&A departments who rely on these models to either quanti
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This research paper describes the design and implementation of a Model Predictive Controller, using economic engineering principles, on a model of the US economy. The purpose of the Model Predictive Controller is to mimic the US
government policy by maximizing the Net Domesti ...
government policy by maximizing the Net Domesti ...