Stochastic control system and method for multi-period consumption

a control system and multi-period technology, applied in the field of dynamic optimization of system control over time, can solve problems such as non-trivial dynamic optimization problems and complicating problems

Active Publication Date: 2009-04-16
REFINITIV US ORG LLC
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  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Problems solved by technology

This presents a non-trivial dynamic optimization problem, particularly in an area with intermittent cloud cover.
However, as a race day evolves, the a priori likelihood of cloud cover will be updated, which complicates the problem and favors a risk budget, margin of safety approach to charge level.

Method used

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  • Stochastic control system and method for multi-period consumption
  • Stochastic control system and method for multi-period consumption
  • Stochastic control system and method for multi-period consumption

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Embodiment Construction

[0027]The following detailed description is made with reference to the figures. Preferred embodiments are described to illustrate the present invention, not to limit its scope, which is defined by the claims. Those of ordinary skill in the art will recognize a variety of equivalent variations on the description that follows.

Solar Car Consumption Control

[0028]This application begins with applying control theory to a solar car race in multiple stages. To state the problem clearly, consider a five stage solar car race subject to the vagaries of weather. This is a simplification of the World Solar Car Challenge or the North American Solar Car Challenge, in which universities and private institutions compete. See www.americansolarchallenge.org. The solar car is allowed a certain number of square feet of panels to convert sunlight into power. It also is permitted a certain battery capacity to help the car when the sun is obscured by clouds or low on the horizon. The race is conducted duri...

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Abstract

The present invention relates to dynamic optimization of system control over time. The need for dynamic optimization arises in many settings, as diverse as solar car power consumption during a multi-day race and retirement portfolio management. We disclose a reformulation of the control problem that overcomes the so-called “curse of dimensionality” and allows formulation of optimal control policies multiple period planning horizons. One optimal control policy is for power consumption by a solar car during a race, which involves many course segments, as course conditions vary through a day. Another is for risk in and consumption from a portfolio intended to support retirement. Both multi-period control policies take into account future uncertainty. Particular aspects of the present invention are described in the claims, specification and drawings.

Description

RELATED APPLICATION[0001]This application is related to and claims the benefit of Provisional Application No. 60 / 979,765 filed Oct. 12, 2007, which provisional application is incorporated by reference.[0002]This application is related to the earlier U.S. patent application Ser. No. 11 / 627,814 filed Jan. 26, 2007, which claimed the benefit of Provisional Application No. 60 / 785,117. Those two applications are incorporated by reference, without a claim of priority.[0003]This application is also related to U.S. patent application Ser. No. 12 / 028,684 filed 8 Feb. 2008, which is incorporated by reference, without a claim of priority.BACKGROUND OF THE INVENTION[0004]The present invention relates to dynamic optimization of system control over time. The need for dynamic optimization arises in many settings, as diverse as space ship control, solar car power consumption during a multi-day race, and retirement portfolio management. Generally, control actions at one time change the state of the ...

Claims

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Application Information

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Patent Type & Authority Applications(United States)
IPC IPC(8): G06Q40/00
CPCG06Q10/10G06Q40/00G06Q40/08G06Q40/06G06Q40/04
Inventor TORRE, NICOLO G.RUDD, ANDREW T.
Owner REFINITIV US ORG LLC
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