Related papers: A Gaussian Process-based Price-Amount Curve Constr…
This paper formalizes a demand response task as an optimization problem featuring a known time-varying engineering cost and an unknown (dis)comfort function. Based on this model, this paper develops a feedback-based projected gradient…
This paper focuses on price-based residential demand response implemented through dynamic adjustments of electricity prices during DR events. It extends existing DR models to a stochastic framework in which customer response is represented…
In this work, we present a novel machine learning approach for pricing high-dimensional American options based on the modified Gaussian process regression (GPR). We incorporate deep kernel learning and sparse variational Gaussian processes…
This paper introduces a novel approach to addressing uncertainty and associated risks in power system management, focusing on the discrepancies between forecasted and actual values of load demand and renewable power generation. By employing…
Price responsiveness is a major feature of end use customers (EUCs) that participate in demand response (DR) programs, and has been conventionally modeled with static demand functions, which take the electricity price as the input and the…
We study the application of dynamic pricing to insurance. We view this as an online revenue management problem where the insurance company looks to set prices to optimize the long-run revenue from selling a new insurance product. We develop…
In this work, we employ the Bayesian inference framework to solve the problem of estimating the solution and particularly, its derivatives, which satisfy a known differential equation, from the given noisy and scarce observations of the…
Price-based demand response (DR) of heating, ventilating, and air-conditioning (HVAC) systems is a challenging task, requiring comprehensive models to represent the building thermal dynamics and game theoretic interactions among…
In Demand Response programs, price incentives might not be sufficient to modify residential consumers load profile. Here, we consider that each consumer has a preferred profile and a discomfort cost when deviating from it. Consumers can…
Demand response (DR) plays a critical role in ensuring efficient electricity consumption and optimal use of network assets. Yet, existing DR models often overlook a crucial element, the irrational behaviour of electricity end users. In this…
Demand response (DR), as one of the important energy resources in the future's grid, provides the services of peak shaving, enhancing the efficiency of renewable energy utilization with a short response period, and low cost. Various…
Dynamic pricing is both an opportunity and a challenge to the demand side. It is an opportunity as it better reflects the real time market conditions and hence enables an active demand side. However, demand's active participation does not…
Demand response (DR) leverages demand-side flexibility, offering a promising approach to enhance market conditions like mitigating wholesale price spikes. However, poorly chosen DR locations can inadvertently increase electricity prices.…
Tensioned cable nets can be used as supporting structures for the efficient construction of lightweight building elements, such as thin concrete shell structures. To guarantee important mechanical properties of the latter, the tolerances on…
Accurate modeling of the diverse and dynamic interests of users remains a significant challenge in the design of personalized recommender systems. Existing user modeling methods, like single-point and multi-point representations, have…
Infrastructure recovery time estimation is critical to disaster management and planning. Inspired by recent resilience planning initiatives, we consider a situation where experts are asked to estimate the time for different infrastructure…
Differential Equation (DE) is a commonly used modeling method in various scientific subjects such as finance and biology. The parameters in DE models often have interesting scientific interpretations, but their values are often unknown and…
We introduce a general, simple, and computationally efficient framework for predicting day-ahead supply and demand merit-order curves, from which both point and probabilistic electricity price forecasts can be derived. We conduct a rigorous…
In recent years, the implementation of the demand response (DR) programs in the power systems scheduling and operation is increased. DR is used to improve the consumers' and power providers economic condition. That said, optimal power flow…
Parameter estimation is crucial for modeling, tracking, and control of complex dynamical systems. However, parameter uncertainties can compromise system performance under a controller relying on nominal parameter values. Typically,…