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M.B. Mendel

24 records found

Economic Engineering for Proactive Asset and Liability Management

Managing Liquidity and Solvency Risk with Process Control

Although banks currently manage their assets and liabilities reactively, there has been a push towards a proactive approach. For the latter, they need models to provide accurate cash flow projections and tools to design and test management policies, which they lack.

Thi ...
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 ...
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 ...

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 ...

The Geometry of Dissipative Mechanical Systems

Using Jacobi Manifolds and the Split-Quaternion Algebra

Conservative mechanical systems admit a symplectic structure.
However, since real systems typically exhibit energy dissipation, this symplectic structure is often too restrictive for engineering purposes.
Also in economic systems, dissipative phenomena are ubiquitous in ...

Economic Engineering & Statistical Physics

Linking Microeconomics and Macroeconomics using Statistical Physics

Economic engineering models individual agents as inertia elements and can be viewed as a microeconomic theory based on analogs with classical mechanics. In this thesis the economic engineering concept of modeling individual agents is used to model economic systems consisting of m ...
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 ...

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 ...

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 ...
The green-hydrogen supply chain is part of the new energy business and will be operating in the new-energy markets. The new-energy markets are markets with volatile prices, and the prices are expected to become even more volatile in the future. A continuous-time model of the pric ...
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 ...

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 ...

An Engineering Grey-Box Approach to Macroeconomic Scenario Modelling

Time- and Frequency Domain Analysis of Macroeconomic Systems

This thesis is a first effort to develop a grey-box model of a macroeconomic system. This is in contrast to current black-box modelling approaches. These black-box modelling approaches result in models where the variables and parameters have no economic interpretation. Companies ...

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 pr ...
Time-discounting in behavioural economics is modelled using mechanical system dynamics through the economic engineering framework. The economic engineering framework is being developed at the Delft Center for Systems and Control, and uses mechanical system dynamics to model econo ...
Business valuation is a set of procedures used by financial market participants to determine the price they are willing to pay or receive for businesses. Valuations play a crucial role in financial reporting, capital budgeting, and investment analysis. Current approaches to busin ...

Dynamic Modelling and Control of the Oil Market

An Economic Engineering Approach

This thesis develops dynamical state-space models of the oil market and suggests opportunities for the application of control theory. The emphasis of this thesis is on the modelling, rather than the control theory applications. Most models that are currently employed by oil comp ...

The Dynamical Behaviour and Control of an Enterprise

Firm and Consumer as the System, Management as the Controller

This thesis develops a method to forecast the cash flows that determine the value of an enterprise. From a control engineers perspective, three stages arise to develop such a method: the research, the system and the control part. The research part presents the results of a contro ...
Labour market economics has been gaining more and more attention over the years, due to increasing job insecurity. There is a growing demand for the improvement of labour market models. Labour market models are representations of the labour market system used to provide insight t ...

The Application of System and Control Theory to Monetary Policy

Development of a First-Principles LTI Model of the Economy

Monetary policy is the process by which the central bank attempts to maintain price stability. Typically, this is done by manipulating the interest rate. This process is executed by the central bank of a country or union. Specifically, the policy makers of a central bank make pol ...