Related papers: Optimal Dynamic Pricing for Binary Demands in Smar…
In continuous-choice settings, consumers decide not only on whether to purchase a product, but also on how much to purchase. Thus, firms optimize a full price schedule rather than a single price point. This paper provides a methodology to…
In this paper we consider a distributed optimization scenario in which a set of processors aims at cooperatively solving a class of min-max optimization problems. This set-up is motivated by peak-demand minimization problems in smart grids.…
Recent work has suggested reducing electricity generation cost by cutting the peak to average ratio (PAR) without reducing the total amount of the loads. However, most of these proposals rely on consumer's willingness to act. In this paper,…
The Internet of Things (IoT) paradigm brings an opportunity for advanced Demand Response (DR) solutions. It enables visibility and control on the various appliances that may consume, store or generate energy within a home. It has been shown…
Peer-to-peer (P2P) electricity markets enable prosumers to minimize their costs, which has been extensively studied in recent research. However, there are several challenges with P2P trading when physical network constraints are also…
The recent widespread adoption of rooftop solar backed by battery storage is enabling energy customers to both produce and consume electricity (i.e., prosumers of electricity). To facilitate prosumer participation in the electric grid, new…
In mobile edge computing systems, base stations (BSs) equipped with edge servers can provide computing services to users to reduce their task execution time. However, there is always a conflict of interest between the BS and users. The BS…
Residential Demand Response has emerged as a viable tool to alleviate supply and demand imbalances of electricity, particularly during times when the electric grid is strained due a shortage of supply. Demand Response providers bid…
This paper studies Markov perfect equilibria in a repeated duopoly model where sellers choose algorithms. An algorithm is a mapping from the competitor's price to own price. Once set, algorithms respond quickly. Customers arrive randomly…
This paper proposes an agent-based model that combines both spot and balancing electricity markets. From this model, we develop a multi-agent simulation to study the integration of the consumers' flexibility into the system. Our study…
This paper presents an enhanced electric vehicle demand response system based on large language models, aimed at optimizing the application of vehicle-to-grid technology. By leveraging an large language models-driven multi-agent framework…
The rapid growth of proactive consumers with distributed power generation and storage capacity, empowered by Internet of Things (IoT) devices, is transforming modern power markets into an independent, flexible, and distributed structure. In…
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…
The pervasiveness of Internet of Things results in vast volumes of personal data generated by smart devices of users (data producers) such as smart phones, wearables and other embedded sensors. It is a common requirement, especially for Big…
In this work, we use a Stackelberg infinite discrete-time dynamic game model to study the optimal supply schedule and the optimal demand response under a market-driven dynamic price. A two-layer optimization framework is established. At the…
We develop a novel design framework for dynamic distributed spectrum sharing among secondary users (SUs) who adjust their power levels to compete for spectrum opportunities while satisfying the interference temperature (IT) constraints…
We study optimal service pricing in server farms where customers arrive according to a renewal process and have independent and identical ($i.i.d.$) exponential service times and $i.i.d.$ valuations of the service. The service provider…
Demand response (DR) has been demonstrated to be an effective method for reducing peak load and mitigating uncertainties on both the supply and demand sides of the electricity market. One critical question for DR research is how to…
The cost of the power distribution infrastructures is driven by the peak power encountered in the system. Therefore, the distribution network operators consider billing consumers behind a common transformer in the function of their peak…
The study of mechanisms for multi-sided markets has received an increasingly growing attention from the research community, and is motivated by the numerous examples of such markets on the web and in electronic commerce. Many of these…