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We consider the problem of choosing a portfolio that maximizes the cumulative prospect theory (CPT) utility on an empirical distribution of asset returns. We show that while CPT utility is not a concave function of the portfolio weights, it…
Pricing is an important issue in mobile edge computing. How to appropriately determine the bid of end user (EU) is an incentive factor for edge cloud (EC) to offer service. In this letter, we propose an equilibrium pricing scheme based on…
Rapid growth of large loads led by data centers is straining grid capacity. These loads increasingly accept curtailment risk through non-firm interconnection agreements to gain faster grid access, expanding the pool of consumers subject to…
We consider a market in which capacity-constrained generators compete in scalar-parameterized supply functions to serve an inelastic demand spread throughout a transmission constrained power network. The market clears according to a…
In this paper, we extend and improve the production chain model introduced by Kikuchi et al. (2018). Utilizing the theory of monotone concave operators, we prove the existence, uniqueness, and global stability of equilibrium price, hence…
Mobile cloud computing enables the offloading of computationally heavy applications, such as for gaming, object recognition or video processing, from mobile users (MUs) to cloudlet or cloud servers, which are connected to wireless access…
Ride-sourcing platforms often face imbalances in the demand and supply of rides across areas in their operating road-networks. As such, dynamic pricing methods have been used to mediate these demand asymmetries through surge price…
Large deployment of distribute energy resources and the increasing awareness of end-users towards their energy procurement are challenging current practices of electricity markets. A change of paradigm, from a top-down hierarchical approach…
As distribution systems move towards being more actively managed there is increased potential for regional markets and the application of locational marginal prices (LMPs) to capture spatial variation in the marginal cost of electricity at…
In this paper we propose a mechanism for the allocation of pipeline capacities, assuming that the participants bidding for capacities do have subjective evaluation of various network routes. The proposed mechanism is based on the concept of…
Suppose that $c(x,y)$ is the cost of transporting a unit of mass from $x\in X$ to $y\in Y$ and suppose that a mass distribution $\mu$ on $X$ is transported optimally (so that the total cost of transportation is minimal) to the mass…
Synchronous Generators (SGs) currently provide important levels of Short-Circuit Current (SCC), a critical ancillary service that ensures line protections trip during short-circuit faults. Given the ongoing replacement of SGs by…
A high share of distributed photovoltaic (PV) generation in low-voltage networks may lead to over-voltage, and line/transformer overloading. To mitigate these issues, we investigate how advanced electricity tariffs could ensure safe grid…
Uplift models support decision-making in marketing campaign planning. Estimating the causal effect of a marketing treatment, an uplift model facilitates targeting communication to responsive customers and efficient allocation of marketing…
Increased uncertainty due to high penetration of renewables imposes significant costs to the system operators. The added costs depend on several factors including market design, performance of renewable generation forecasting and the…
Optimizing a nonlinear function over nonconvex sets is challenging since solving convex relaxations may lead to substantial relaxation gaps and infeasible solutions that must be "rounded" to feasible ones, often with uncontrollable losses…
Energy storage is expected to play an increasingly important role in mitigating variations that come along with the growing penetration of renewable energy. In this paper, we study the optimal bidding of an energy storage unit in a…
One of the recognized principal issues brought along by the steadfast migration towards power electronic interfaced energy sources is the loss of rotational inertia. In conventional power systems, the inertia of the synchronous machines…
The coordinated operation of interconnected but locally controlled electricity markets is generally referred to as a "coupling". In this paper we propose a new mechanism design for efficient coupling of independent electricity markets. The…
The problem of heat and electricity pricing in combined heat and power systems regarding the time scales of electricity and heat, as well as thermal energy quality, is studied. Based on the asynchronous coordinated dispatch of the combined…