A short-term risk management tool applied to OMEL electricity market using particle swarm optimization

Short-term risk management is highly dependent on long-term contractual decisions previously established; risk aversion factor of the agent and short-term price forecast accuracy. Trying to give answers to that problem, this paper provides a different approach for short-term risk management on electricity markets. Based on long-term contractual decisions and making use of a price range forecast method developed by the authors, the short-term risk management tool presented here has as main concern to find the optimal spot market strategies that a producer should have for a specific day in function of his risk aversion factor, with the objective to maximize the profits and simultaneously to practice the hedge against price market volatility. Due to the complexity of the optimization problem, the authors make use of Particle Swarm Optimization (PSO) to find the optimal solution. Results from realistic data, namely from OMEL electricity market, are presented and discussed in detail.

Intersubjectivity and a practical intersubjective ethics of translation

This essay suggests that the intersubjectivity in translation should be given priority because different stages of the translation activity have different subjects, and presents a practical intersubjective ethics of translation based on an interpretation of the intersubjective relations connected with translation activities in a perspective of game theory in the hope that it can equip us with better explanations of the translator’s calculations or considerations in the professional practice.