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 quantify price and demand movements, or to determine the cost of...

Model-Driven Objective Functions in MPC using Economic Engineering Systems Theory: With an Application to Supply-Chain Scheduling at Shell

This thesis introduces a theory for model-driven objective functions in Model Predictive Control (MPC) algorithms. For scheduling supply chains, such model-driven objective functions allow the MPC algorithm to make optimal scheduling decisions by anticipating future changes in product flow and transfer price dynamics. Including such dynamics...

Using Model Predictive Control to model the Role of the Goverment in the US Economy

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<br/>government policy by maximizing the Net Domestic Product. The Model Predictive Controller is integrated with a...