access icon free A framework for real-time emissions trading in large-scale vehicle fleets

In this study a framework for the real-time trading of budgeted emission rights between a fleet of participating vehicles is presented. The trading problem is formulated as a utility maximisation or as a utility fairness problem, which can be solved in real time either in a centralised or in a distributed manner. In both cases, the authors illustrate the basic issues that arise when such a framework is realised in practice, and they show the efficacy of the approaches by providing several simulation examples and a realistic case study.

Inspec keywords: hybrid electric vehicles; environmental economics; optimisation; air pollution; utility theory

Other keywords: large-scale vehicle fleets; participating vehicle fleet; plug-in hybrid electric vehicles; real-time trading; utility maximisation; utility fairness problem; real-time emission trading; budgeted emission rights

Subjects: Systems theory applications in economics and business; Optimisation techniques; Systems theory applications in natural resources and ecology

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