Modelling Spreading Processes and  Optimal Management Strategies

January 22, 2019

First PitcherAndrás Bota, Postdoctoral Fellow at Department of Physics, Umeå University

Title: Modelling spreading processes in epidemics, economics and social networks

Networks can serve as the basis of infection or diffusion processes. This is a well-studied field with many applications. Infection models are frequently used to model the spreading of infectious diseases between people, the spreading of information and behaviour on social networks or the spread of economic events. In his talk, András shows a few real-life problems and their solutions in this field and elaborates on how you can use them in your own work.

Second Pitcher: Niklas Lundström, Associate senior lecturer (assistant professor) at Department of Mathematics and Mathematical Statistics, Umeå University

Title: Optimal management strategies for run-of-river hydropower plants.

We are trying to use the well known optimal-switching theory, developed mainly for portfolio optimization, to find efficient management strategies for so called run-of-river hydropower plants. Along the way of creating these strategies, we try to build models for the random flow of water based on stochastic differential equations, and fit these models to historical data and forecasts. Run-of-river hydropower plants are cost-effective, simple, and environmentally friendly, as the natural flow in the river is preserved (besides at the location of the power plant).

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