News Reporter-Staff News Editor at
NewsRx Science Daily -- Fresh data on Science - Systems Science are presented in a new report. According to news originating from Annaba,
Algeria, by NewsRx correspondents, research stated, “This paper solves a mean-field type hierarchical optimal control problem in electricity market. The authors consider n - 1 prosumers and one producer.”
Financial supporters for this research include Tamkeen under the
NYU Abu Dhabi Research Institute,
Air Force Office of Scientific Research (AFOSR).
Our news journalists obtained a quote from the research from
Badji Mokhtar University, “The ith prosumer, for 1 i n, is a leader of the (i - 1)th prosumer and is a follower of the (i + 1)th prosumer. The first player (agent) is the follower at the bottom whereas the nth is the leader at the top. The problem is described by a linear jump-diffusion system of conditional mean-field type, where the conditioning is with respect to common noise, and a quadratic cost functional involving, the square of the conditional expectation of the controls of the agents. The authors provide a semi-explicit solution of the corresponding mean-field-type hierarchical control problem with common noise.”