Measuring the quality of life through Markov reward processes: Analysis and inference

D’Amico, Guglielmo

doi:10.1002/env.993

Environmetrics

2009

DOI: 10.1002/env.993

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Measuring the quality of life through Markov reward processes: Analysis and inference

Guglielmo D’Amico

Abstract: SUMMARYIn this paper, the time evolution of the quality of life of a person is studied using Markov chains. A new index measuring the quality of life is proposed. It is based on Markov reward processes which turn out to be a useful tool in the modelling of the accumulated quality of life. Later on, a nonparametric estimator of the index is presented. Its asymptotic properties are established and as a consequence of the asymptotic normality the confidence sets are obtained. A numerical example illustrates the r… Show more

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Cited by 3 publications

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“…This censoring mechanism acts as a perturbation of the stochastic system. Indeed, if the battery could furnish any required amount of power and have enough capacity to store any exceedance our result would coincide exactly with that contained in [26,27].…”

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confidence: 63%

An Analysis of a Storage System for a Wind Farm with Ramp-Rate Limitation

2021

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This paper provides evidence on how the variability of the power produced by a wind farm and its revenue are affected by implementing a ramp-rate limitation strategy and by adding a storage device to the system. The wind farm receives penalties whenever the ramp-rate limitations are not respected and may be supported by batteries to avoid this scenario. In this paper, we model the battery usage as a discrete time homogeneous Markov chain with rewards thanks to which it is possible to simulate the state of the charge of the battery and to calculate the amount of penalties suffered by the wind farm during any period. An application is performed considering the power produced by a hypothetical wind turbine located in Sardinia (Italy) using real wind speed data and electricity prices from a period of 10 years. We applied the concept of ramp-rate limitation on our hourly dataset, studying several limitation scenarios and battery capacities.

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mentioning

confidence: 63%

An Analysis of a Storage System for a Wind Farm with Ramp-Rate Limitation

2021

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Estimation for Discrete-time Semi-Markov Reward Processes: Analysis and Inference

Khorshidian

Negahdari

Mardnifard

2015

Methodol Comput Appl Probab

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In this paper, the moments of a class of reward processes defined on a discretetime semi-Markov process and the asymptotic behaviors of the corresponding empirical estimators have been investigated. Some known results concerning the asymptotic distribution and properties of semi-Markov kernel have been obtained by a different approach. By using the empirical estimator of the semi-Markov kernel and the mentioned approach, the estimators for the moments of the reward process have been introduced and their asymptotic properties have been established. As a consequence of the strong consistency and asymptotic normality, the confidence intervals have also been obtained. A numerical example illustrates the results.

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The Quality of Life Via Semi Markov Reward Modelling

Kyritsis

Papadopoulou

2016

Methodol Comput Appl Probab

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Measuring the quality of life through Markov reward processes: Analysis and inference

Cited by 3 publications

References 12 publications

An Analysis of a Storage System for a Wind Farm with Ramp-Rate Limitation

An Analysis of a Storage System for a Wind Farm with Ramp-Rate Limitation

Estimation for Discrete-time Semi-Markov Reward Processes: Analysis and Inference

The Quality of Life Via Semi Markov Reward Modelling

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