Stochastic models have become indispensable tools for understanding growth dynamics in complex systems. By incorporating randomness and uncertainty into the modelling framework, these methods provide ...

Simulation research derives new methods for the design, analysis, and optimization of simulation experiments. Research on stochastic models develops and analyzes models of systems with random behavior ...

We propose a stochastic model for the maximal production of photovoltaic (PV) power on a daily basis, based on data from three transmission system operators in Germany. We apply sun intensity as a ...