Related papers: An Integrated Optimization + Learning Approach to …
The development of smart grids has effectively transformed the traditional grid system. This promises numerous advantages for economic values and autonomous control of energy sources. In smart grids development, there are various objectives…
Goods can exhibit positive externalities impacting decisions of customers in socials networks. Suppliers can integrate these externalities in their pricing strategies to increase their revenue. Besides optimizing the prize, suppliers also…
A number of governments and organizations around the world agree that the first step to address national and international problems such as energy independence, global warming or emergency resilience, is the redesign of electricity…
We consider users which may have renewable energy harvesting devices, or distributed generators. Such users can behave as consumer or producer (hence, we denote them as prosumers) at different time instances. A prosumer may sell the energy…
This paper studies how to maximize a spectrum database operator's expected revenue in sharing spectrum to secondary users, through joint pricing and admission control of spectrum resources. A unique feature of our model is the consideration…
In this paper, we investigate an energy cost minimization problem for a smart home in the absence of a building thermal dynamics model with the consideration of a comfortable temperature range. Due to the existence of model uncertainty,…
An informed seller designs a dynamic mechanism to sell an experience good. The seller has partial information about the product match, which affects the buyer's private consumption experience. We characterize equilibrium mechanisms of this…
In recent years, significant efforts for improving the technical and the economic performance of smart grids have been applied with the presence of different players making decisions in these grids. This paper proposes a bi-level…
In this paper, we propose a two-stage electricity market framework to explore the participation of distributed energy resources (DERs) in a day-ahead (DA) market and a real-time (RT) market. The objective is to determine the optimal bidding…
Integrating volatile renewable energy resources into the bulk power grid is challenging, due to the reliability requirement that at each instant the load and generation in the system remain balanced. In this study, we tackle this challenge…
This paper investigates smart home energy management in consideration of tradeoffs between residential privacy and energy costs. A multiobjective approach that minimizes energy costs and maximizes privacy protection is proposed. The…
Electricity prices and the end user net load vary with time. Electricity consumers equipped with energy storage devices can perform energy arbitrage, i.e., buy when energy is cheap or when there is a deficit of energy, and sell it when it…
Rapid advancements in the Internet of Things (IoT) have facilitated more efficient deployment of smart environment solutions for specific user requirement. With the increase in the number of IoT devices, it has become difficult for the user…
A monopoly platform sells either a risky product (with unknown utility) or a safe product (with known utility) to agents who sequentially arrive and learn the utility of the risky product by the reporting of previous agents. It is costly…
This paper explores the application of a reinforcement learning (RL) framework using the Q-Learning algorithm to enhance dynamic pricing strategies in the retail sector. Unlike traditional pricing methods, which often rely on static demand…
The energy transition is expected to significantly increase the share of renewable energy sources whose production is intermittent in the electricity mix. Apart from key benefits, this development has the major drawback of generating a…
Demand response (DR) for smart grids, which intends to balance the required power demand with the available supply resources, has been gaining widespread attention. The growing demand for electricity has presented new opportunities for…
This paper proposes a distributed framework for demand response and user adaptation in smart grid networks. In particular, we borrow the concept of congestion pricing in Internet traffic control and show that pricing information is very…
We consider a mechanism design problem for energy procurement, when there is one buyer and one seller, and the buyer is the mechanism designer. The seller can generate energy from conventional (deterministic) and renewable (random) plants,…
We describe a two-stage mechanism that fully implements the set of efficient outcomes in two-agent environments with quasi-linear utilities. The mechanism asks one agent to set prices for each outcome, and the other agent to make a choice,…