Related papers: An Online Learning Approach to Buying and Selling …
We consider the problem of supply and demand balancing that is stated as a minimization problem for the total expected revenue function describing the behavior of both consumers and suppliers. In the considered market model we assume that…
Bidding flexibility in day-ahead and intraday auctions would enable decentralized flexible resources, such as electric vehicles and heat pumps, to efficiently align their consumption with the intermittent generation of renewable energy.…
We consider the problem of optimal trading for a power producer in the context of intraday electricity markets. The aim is to minimize the imbalance cost induced by the random residual demand in electricity, i.e. the consumption from the…
We investigate an optimization problem in a queueing system where the service provider selects the optimal service fee p and service capacity \mu to maximize the cumulative expected profit (the service revenue minus the capacity cost and…
We study a problem of an online retailer who observes the unit sales of a product, and dynamically changes the retail price, in order to maximize the expected revenue. Assuming the demand of the product is price sensitive, we are interested…
Accelerated development of demand response service provision by the residential sector is crucial for reducing carbon-emissions in the power sector. Along with the infrastructure advancement, encouraging the end users to participate is…
As the share of renewable energy sources in the present electric energy mix rises, their intermittence proves to be the biggest challenge to carbon free electricity generation. To address this challenge, we propose an electricity pricing…
Online auctions are one of the most fundamental facets of the modern economy and power an industry generating hundreds of billions of dollars a year in revenue. Auction theory has historically focused on the question of designing the best…
Flexibility in electric power consumption can be leveraged by Demand Response (DR) programs. The goal of this paper is to systematically capture the inherent aggregate flexibility of a population of appliances. We do so by clustering…
We consider the problem of a single seller repeatedly selling a single item to a single buyer (specifically, the buyer has a value drawn fresh from known distribution $D$ in every round). Prior work assumes that the buyer is fully rational…
We study revenue optimization pricing algorithms for repeated posted-price auctions where a seller interacts with a single strategic buyer that holds a fixed private valuation. We show that, in the case when both the seller and the buyer…
The problem of the large-scale aggregation of the behind-the-meter demand and generation resources by a distributed-energy-resource aggregator (DERA) is considered. As a profit-seeking wholesale market participant, a DERA maximizes its…
We consider a periodical equilibrium pricing problem for multiple firms over a planning horizon of T periods. At each period, firms set their selling prices and receive stochastic demand from consumers. Firms do not know their underlying…
We propose a scenario-oriented approach for energy-reserve joint procurement and pricing for electricity market. In this model, without the empirical reserve requirements, reserve is procured according to all possible contingencies and…
Motivated by the recent popularity of machine learning training services, we introduce a contract design problem in which a provider sells a service that results in an outcome of uncertain quality for the buyer. The seller has a set of…
Retailers and major consumers of electricity generally purchase an important percentage of their estimated electricity needs years ahead in the forward market. This long-term electricity procurement task consists of determining when to buy…
This paper proposes a novel congestion mitigation strategy for low voltage residential feeders in which the rising power demand due to the electrification of the transport and heating systems leads to congestion problems. The strategy is…
We consider a stochastic lost-sales inventory control system with a lead time $L$ over a planning horizon $T$. Supply is uncertain, and is a function of the order quantity (due to random yield/capacity, etc). We aim to minimize the…
We present a simple dynamic equilibrium model for an online exchange where both buyers and sellers arrive according to a exogenously defined stochastic process. The structure of this exchange is motivated by the limit order book mechanism…
A coordinated trading process is proposed as a design for an electricity market with significant uncertainty, perhaps from renewables. In this process, groups of agents propose to the system operator (SO) a contingent buy and sell trade…