£0.00 0 items
Menu

Jacob Mays

Assistant Professor, Cornell University

Contact

WP_Query Object
(
    [query] => Array
        (
            [post_type] => publications
            [posts_per_page] => -1
            [meta_query] => Array
                (
                    [0] => Array
                        (
                            [key] => author
                            [value] => 47241
                            [compare] => LIKE
                        )

                )

        )

    [query_vars] => Array
        (
            [post_type] => publications
            [posts_per_page] => -1
            [meta_query] => Array
                (
                    [0] => Array
                        (
                            [key] => author
                            [value] => 47241
                            [compare] => LIKE
                        )

                )

            [error] => 
            [m] => 
            [p] => 0
            [post_parent] => 
            [subpost] => 
            [subpost_id] => 
            [attachment] => 
            [attachment_id] => 0
            [name] => 
            [pagename] => 
            [page_id] => 0
            [second] => 
            [minute] => 
            [hour] => 
            [day] => 0
            [monthnum] => 0
            [year] => 0
            [w] => 0
            [category_name] => 
            [tag] => 
            [cat] => 
            [tag_id] => 
            [author] => 
            [author_name] => 
            [feed] => 
            [tb] => 
            [paged] => 0
            [meta_key] => 
            [meta_value] => 
            [preview] => 
            [s] => 
            [sentence] => 
            [title] => 
            [fields] => 
            [menu_order] => 
            [embed] => 
            [category__in] => Array
                (
                )

            [category__not_in] => Array
                (
                )

            [category__and] => Array
                (
                )

            [post__in] => Array
                (
                )

            [post__not_in] => Array
                (
                )

            [post_name__in] => Array
                (
                )

            [tag__in] => Array
                (
                )

            [tag__not_in] => Array
                (
                )

            [tag__and] => Array
                (
                )

            [tag_slug__in] => Array
                (
                )

            [tag_slug__and] => Array
                (
                )

            [post_parent__in] => Array
                (
                )

            [post_parent__not_in] => Array
                (
                )

            [author__in] => Array
                (
                )

            [author__not_in] => Array
                (
                )

            [search_columns] => Array
                (
                )

            [ignore_sticky_posts] => 
            [suppress_filters] => 
            [cache_results] => 1
            [update_post_term_cache] => 1
            [update_menu_item_cache] => 
            [lazy_load_term_meta] => 1
            [update_post_meta_cache] => 1
            [nopaging] => 1
            [comments_per_page] => 50
            [no_found_rows] => 
            [order] => DESC
        )

    [tax_query] => WP_Tax_Query Object
        (
            [queries] => Array
                (
                )

            [relation] => AND
            [table_aliases:protected] => Array
                (
                )

            [queried_terms] => Array
                (
                )

            [primary_table] => wp_posts
            [primary_id_column] => ID
        )

    [meta_query] => WP_Meta_Query Object
        (
            [queries] => Array
                (
                    [0] => Array
                        (
                            [key] => author
                            [value] => 47241
                            [compare] => LIKE
                        )

                    [relation] => OR
                )

            [relation] => AND
            [meta_table] => wp_postmeta
            [meta_id_column] => post_id
            [primary_table] => wp_posts
            [primary_id_column] => ID
            [table_aliases:protected] => Array
                (
                    [0] => wp_postmeta
                )

            [clauses:protected] => Array
                (
                    [wp_postmeta] => Array
                        (
                            [key] => author
                            [value] => 47241
                            [compare] => LIKE
                            [compare_key] => =
                            [alias] => wp_postmeta
                            [cast] => CHAR
                        )

                )

            [has_or_relation:protected] => 
        )

    [date_query] => 
    [request] => SELECT   wp_posts.*
			 FROM wp_posts  INNER JOIN wp_postmeta ON ( wp_posts.ID = wp_postmeta.post_id )
			 WHERE 1=1  AND ( 
  ( wp_postmeta.meta_key = 'author' AND wp_postmeta.meta_value LIKE '{73a28ec7972df82e13f1f0db22815003c9761af0f70d7a71adf1a50a33d04c4f}47241{73a28ec7972df82e13f1f0db22815003c9761af0f70d7a71adf1a50a33d04c4f}' )
) AND ((wp_posts.post_type = 'publications' AND (wp_posts.post_status = 'publish' OR wp_posts.post_status = 'acf-disabled' OR wp_posts.post_status = 'wc-fraud-screen' OR wp_posts.post_status = 'wc-authorised')))
			 GROUP BY wp_posts.ID
			 ORDER BY wp_posts.post_date DESC
			 
    [posts] => Array
        (
            [0] => WP_Post Object
                (
                    [ID] => 47240
                    [post_author] => 974
                    [post_date] => 2024-04-22 11:09:44
                    [post_date_gmt] => 2024-04-22 10:09:44
                    [post_content] => A concern persistent in scarcity-based market designs for electricity over many years has been the illiquidity of markets for long-term contracts to hedge away volatile price exposures between generators and consumers. These missing markets have been attributed to a range of factors including retailer creditworthiness, market structure and the lack of demand side interest from consumers. Using a stochastic equilibrium model and insights from insurance theory, we demonstrate the inherent challenges of hedging a legacy thermal portfolio that is dominated by volatile fat-tailed commodities with significant tail dependence. Under such conditions the price required for generators to provide such hedges can be multiples of the expected value of prices. Our key insight is that when the real-world constraints of credit and financing are considered, the volatility of thermal fuels and their co-dependence under extremes may be a key reason as to why electricity markets have been incomplete in terms of long-term hedging contracts. Counterintuitively, in the context of the energy transition, our results show that, ceteris paribus, increasing the penetration of low carbon resources like wind, solar and energy storage, can add tail-diversity and improve contractability.
                    [post_title] => Hedging and Tail Risk in Electricity Markets
                    [post_excerpt] => 
                    [post_status] => publish
                    [comment_status] => closed
                    [ping_status] => closed
                    [post_password] => 
                    [post_name] => hedging-and-tail-risk-in-electricity-markets
                    [to_ping] => 
                    [pinged] => 
                    [post_modified] => 2024-04-22 11:09:44
                    [post_modified_gmt] => 2024-04-22 10:09:44
                    [post_content_filtered] => 
                    [post_parent] => 0
                    [guid] => https://www.oxfordenergy.org/?post_type=publications&p=47240
                    [menu_order] => 0
                    [post_type] => publications
                    [post_mime_type] => 
                    [comment_count] => 0
                    [filter] => raw
                )

        )

    [post_count] => 1
    [current_post] => -1
    [before_loop] => 1
    [in_the_loop] => 
    [post] => WP_Post Object
        (
            [ID] => 47240
            [post_author] => 974
            [post_date] => 2024-04-22 11:09:44
            [post_date_gmt] => 2024-04-22 10:09:44
            [post_content] => A concern persistent in scarcity-based market designs for electricity over many years has been the illiquidity of markets for long-term contracts to hedge away volatile price exposures between generators and consumers. These missing markets have been attributed to a range of factors including retailer creditworthiness, market structure and the lack of demand side interest from consumers. Using a stochastic equilibrium model and insights from insurance theory, we demonstrate the inherent challenges of hedging a legacy thermal portfolio that is dominated by volatile fat-tailed commodities with significant tail dependence. Under such conditions the price required for generators to provide such hedges can be multiples of the expected value of prices. Our key insight is that when the real-world constraints of credit and financing are considered, the volatility of thermal fuels and their co-dependence under extremes may be a key reason as to why electricity markets have been incomplete in terms of long-term hedging contracts. Counterintuitively, in the context of the energy transition, our results show that, ceteris paribus, increasing the penetration of low carbon resources like wind, solar and energy storage, can add tail-diversity and improve contractability.
            [post_title] => Hedging and Tail Risk in Electricity Markets
            [post_excerpt] => 
            [post_status] => publish
            [comment_status] => closed
            [ping_status] => closed
            [post_password] => 
            [post_name] => hedging-and-tail-risk-in-electricity-markets
            [to_ping] => 
            [pinged] => 
            [post_modified] => 2024-04-22 11:09:44
            [post_modified_gmt] => 2024-04-22 10:09:44
            [post_content_filtered] => 
            [post_parent] => 0
            [guid] => https://www.oxfordenergy.org/?post_type=publications&p=47240
            [menu_order] => 0
            [post_type] => publications
            [post_mime_type] => 
            [comment_count] => 0
            [filter] => raw
        )

    [comment_count] => 0
    [current_comment] => -1
    [found_posts] => 1
    [max_num_pages] => 0
    [max_num_comment_pages] => 0
    [is_single] => 
    [is_preview] => 
    [is_page] => 
    [is_archive] => 1
    [is_date] => 
    [is_year] => 
    [is_month] => 
    [is_day] => 
    [is_time] => 
    [is_author] => 
    [is_category] => 
    [is_tag] => 
    [is_tax] => 
    [is_search] => 
    [is_feed] => 
    [is_comment_feed] => 
    [is_trackback] => 
    [is_home] => 
    [is_privacy_policy] => 
    [is_404] => 
    [is_embed] => 
    [is_paged] => 
    [is_admin] => 
    [is_attachment] => 
    [is_singular] => 
    [is_robots] => 
    [is_favicon] => 
    [is_posts_page] => 
    [is_post_type_archive] => 1
    [query_vars_hash:WP_Query:private] => ed9d0b51274f41d26d5fee0f3ac2ae0a
    [query_vars_changed:WP_Query:private] => 
    [thumbnails_cached] => 
    [allow_query_attachment_by_filename:protected] => 
    [stopwords:WP_Query:private] => 
    [compat_fields:WP_Query:private] => Array
        (
            [0] => query_vars_hash
            [1] => query_vars_changed
        )

    [compat_methods:WP_Query:private] => Array
        (
            [0] => init_query_flags
            [1] => parse_tax_query
        )

)

Latest Publications by Jacob Mays