eprintid: 10047977
rev_number: 24
eprint_status: archive
userid: 608
dir: disk0/10/04/79/77
datestamp: 2018-05-10 12:20:47
lastmod: 2021-10-16 22:43:09
status_changed: 2018-05-10 12:20:47
type: article
metadata_visibility: show
creators_name: Huang, C
creators_name: Cattani, F
creators_name: Piccione, PM
creators_name: Galvanin, F
title: Traveling Traders' Exchange Problem: Stochastic Modeling Framework and Two-Layer Model Identification Strategy
ispublished: pub
divisions: UCL
divisions: B04
divisions: C05
divisions: F43
keywords: Travelling traders’ exchange problem; collision-exchange system; Monte Carlo method; stochastic simulation
note: This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions.
abstract: The Travelling Traders’ Exchange Problem (TTEP) is formalised, aiming at studying the
collision-exchange systems found in various research areas. As an example of the TTEP models, a
1-D model is developed and characterised in detail. The computational stochastic simulation of the
1-D TTEP model relies on a stochastic simulation algorithm implemented based on the Monte Carlo
method. A model identification framework is proposed where the money distribution in the system
obtained from the stochastic model is characterised in terms of (a) standard deviation of the money
redistribution; (b) its probability density function. Results indicate that the expressions of the
estimated functions for (a) and (b) are tightly related to the system input conditions. The example of
curve fitting on the probability density function shows how the variation of money redistribution in the system in time is driven by different values of the parameters describing the interaction
mechanism.
date: 2018-08-01
date_type: published
publisher: American Chemical Society
official_url: https://doi.org/10.1021/acs.iecr.8b00338
oa_status: green
full_text_type: other
language: eng
primo: open
primo_central: open_green
verified: verified_manual
elements_id: 1554076
doi: 10.1021/acs.iecr.8b00338
lyricists_name: Galvanin, Federico
lyricists_name: Huang, Chunbing
lyricists_id: FGALV19
lyricists_id: CHUAN46
actors_name: Galvanin, Federico
actors_id: FGALV19
actors_role: owner
full_text_status: public
publication: Industrial and Engineering Chemistry Research
volume: 57
number: 30
pagerange: 10011-10025
issn: 0888-5885
citation:        Huang, C;    Cattani, F;    Piccione, PM;    Galvanin, F;      (2018)    Traveling Traders' Exchange Problem: Stochastic Modeling Framework and Two-Layer Model Identification Strategy.                   Industrial and Engineering Chemistry Research , 57  (30)   pp. 10011-10025.    10.1021/acs.iecr.8b00338 <https://doi.org/10.1021/acs.iecr.8b00338>.       Green open access   
 
document_url: https://discovery.ucl.ac.uk/id/eprint/10047977/1/acs.iecr.8b00338.pdf