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Premier cloud service providers (CSPs) offer two types of purchase options, namely on-demand and spot instances, with time-varying features in availability and price. Users like startups have to operate on a limited budget and similarly…

Internet of things (IoT) has emerged as a new paradigm for the future Internet. In IoT, enormous devices are connected to the Internet and thereby being a huge data source for numerous applications. In this article, we focus on addressing…

There are numerous industrial settings in which a decision maker must decide whether to enter into long-term contracts to guarantee price (and hence cash flow) stability or to participate in more volatile spot markets. In this paper, we…

This paper addresses the following question which is of interest in designing efficient exclusive-use spectrum licenses sold through spectrum auctions. Given a system model in which customer demand, revenue, and bids of wireless operators…

Motivated by the problem of selling large, proprietary data, we consider an information pricing problem proposed by Bergemann et al. that involves a decision-making buyer and a monopolistic seller. The seller has access to the underlying…

Demand side management (DSM) is a key solution for reducing the peak-time power consumption in smart grids. To provide incentives for consumers to shift their consumption to off-peak times, the utility company charges consumers differential…

Time-varying pricing tariffs incentivize consumers to shift their electricity demand and reduce costs, but may increase the energy burden for consumers with limited response capability. The utility must thus balance affordability and…

This paper tackles challenges in pricing and revenue projections due to consumer uncertainty. We propose a novel data-based approach for firms facing unknown consumer type distributions. Unlike existing methods, we assume firms only observe…

This paper studies optimal mechanisms for collecting and trading data. Consumers benefit from revealing information about their tastes to a service provider because this improves the service. However, the information is also valuable to a…

Utilities use demand response to shift or reduce electricity usage of flexible loads, to better match electricity demand to power generation. A common mechanism is peak pricing (PP), where consumers pay reduced (increased) prices for…

While volume-based grid tariffs have been the norm for residential consumers, capacity-based tariffs will become more relevant with the increasing electrification of society. A further development is capacity subscription, where consumers…

We consider dynamic pricing strategies in a streamed longitudinal data set-up where the objective is to maximize, over time, the cumulative profit across a large number of customer segments. We consider a dynamic model with the consumers'…

The problem of designing a profit-maximizing, Bayesian incentive compatible and individually rational mechanism with flexible consumers and costly heterogeneous supply is considered. In our setup, each consumer is associated with a…

Time-of-use (ToU) pricing is widely used by the electricity utility. A carefully designed ToU pricing can incentivize end-users' energy storage deployment, which helps shave the system peak load and reduce the system social cost. However,…

In order to efficiently provide demand side management (DSM) in smart grid, carrying out pricing on the basis of real-time energy usage is considered to be the most vital tool because it is directly linked with the finances associated with…

The increasing penetration of renewable energy poses significant challenges to power grid reliability. There have been increasing interests in utilizing financial tools, such as insurance, to help end-users hedge the potential risk of lost…

In the present work we tackle the problem of finding the optimal price tariff to be set by a risk-averse electric retailer participating in the pool and whose customers are price-sensitive. We assume that the retailer has access to a…

Participation in residential energy demand response programs requires an active role by the consumers. They contribute flexibility in how they use their appliances as the means to adjust energy consumption, and reduce demand peaks, possibly…

The revenue maximization problem of service provider is considered and different pricing schemes to solve the above problem are implemented. The service provider can choose an apt pricing scheme subjected to limited resources, if he knows…

In the age of data driven solution, the customer demographic attributes, such as gender and age, play a core role that may enable companies to enhance the offers of their services and target the right customer in the right time and place.…