Academic articles

Simulating Prosumer Data Trading: Testing a Blockchain Smart Contract Based Control


A novel data trading approach was presented in this paper – one where trading was controlled by seller preferences. The approach followed the principles of seller’s rights protection and control over the data sharing available in a community of users. A hybrid approach was shown to combine market and technology simulations and enable system developers to test robust future scenarios.

Investment Risk Management and Simulation Software for Multi-period Acquisition Planning Under Deep Uncertainty


Acquisition planning involves decisions to be made regarding the number of assets to be acquired initially and the type and timing of replacement and upgrade actions to maintain performance measures efficiently. Acquisition planning is challenging for high-valued assets because of considerable uncertainties in their long-term life cycle. This article proposes an approach to determine which acquisition strategy—i.e. what initial number of assets, what number of new acquisitions, and in what time throughout a long-term planning period—can robustly fulfil multiple performance objectives in the face of plausible future scenarios.

Real Options and System Dynamics Aproach To Model Value of Implementing a Project Specific Dispute Resolution Process in Construction Projects


This paper presents a methodology to study the effect of different resolution strategies on the value of the investment in a project-specific dispute resolution ladder (DRL) using option/real option theories from financial engineering, process centric modeling, and system dynamics methodology.