University of Connecticut

Events Calendar

Mathematics Colloquium
Game Theoretic Models for Energy Production & Cryptocurrency Mining
Ronnie Sircar (Princeton University)

Thursday, October 8, 2020
3:30pm – 4:30pm

Storrs Campus
MONT 214

We review approaches to understanding the competition between energy production from different sources, that are based on game theory. The players in such games, ranging from fossil fuel producers, such as the OPEC nations, to renewables, are vastly heterogeneous, with differing costs, sustainability and emission levels. The past several years have seen new discoveries of fossil fuels facilitated by new technologies such as fracking, cheaper solar panels, as well as uncertain demand from major markets like China. The games studied are in continuous time and may be deterministic, stochastic with controlled jumps (random discoveries), finite player or of continuum mean field type. Some results can be derived analytically, and quantitative analysis comes from small parameter approximations and numerical PDE solutions. We also discuss a related mean field game model to study the question of how centralization of reward and computational power occur in Bitcoin-like cryptocurrencies.

Contact:

Kyu-Hwan Lee

Mathematics Colloquium (primary), College of Liberal Arts and Sciences, UConn Master Calendar

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