Related papers: A market-based approach for enabling inter-area re…
We consider a sharing economy network where agents embedded in a graph share their resources. This is a fundamental model that abstracts numerous emerging applications of collaborative consumption systems. The agents generate a random…
We propose a pseudo-market solution to resource allocation problems subject to constraints. Our treatment of constraints is general: including bihierarchical constraints due to considerations of diversity in school choice, or scheduling in…
Real-time hierarchical energy-sharing markets are promising to coordinate large numbers of prosumers. Still, most existing clearing methods rely on linearized or DC power-flow models and do not explicitly handle reactive power or…
Recent innovations in Information and Communication Technologies (ICT) provide new opportunities and challenges for integration of distributed energy resources (DERs) into the energy supply system as active market players. By increasing…
We propose a market designed using game theory to optimally utilize the flexibility of distributed energy resources (DERs) like solar, batteries, electric vehicles, and flexible loads. Market agents perform multiperiod optimization to…
A key issue in the control of distributed discrete systems modeled as Markov decisions processes, is that often the state of the system is not directly observable at any single location in the system. The participants in the control scheme…
Flexibility markets can be introduced as a tool for the distribution system operator (DSO) to avoid high costs and public opposition against new network investments. Continuous flexibility markets have the advantage of allowing more…
Market price systems constitute a well-understood class of mechanisms that under certain conditions provide effective decentralization of decision making with minimal communication overhead. In a market-oriented programming approach to…
Flexible load at the demand-side has been regarded as an effective measure to cope with volatile distributed renewable generations. To unlock the demand-side flexibility, this paper proposes a peer-to-peer energy sharing mechanism that…
This paper proposes a novel framework to price energy storage in economic dispatch with a social welfare maximization objective. This framework can be utilized by power system operators to generate default bids for storage or to benchmark…
Cooperative multihop communication can greatly increase network throughput, yet packet forwarding for other nodes involves opportunity and energy cost for relays. Thus one of the pre-requisite problems in the successful implementation of…
Systemic risk arises as a multi-layer network phenomenon. Layers represent direct financial exposures of various types, including interbank liabilities, derivative- or foreign exchange exposures. Another network layer of systemic risk…
The rapid development and deployment of vehicle technologies offer opportunities to re-think the way traffic is managed. This paper capitalizes on vehicle connectivity and proposes an economic instrument and corresponding cooperative…
We develop a clearance and settlement model for Peer-to-Peer (P2P) energy trading in low-voltage networks. The model enables direct transactions between parties within an open and distributed system and integrates unused capacity while…
This paper addresses the challenges of high-impact low-probability (HILP) events by proposing a novel capacity reserve event market for mobile generation assets, aimed at supporting the transmission network during such incidents. Despite…
A key obstacle to increasing renewable energy penetration in the power grid is the lack of utility-scale storage capacity. Transportation electrification has the potential to overcome this obstacle since Electric Vehicles (EVs) that are not…
We study data exchange among strategic agents without monetary transfers, motivated by domains such as research consortia and healthcare collaborations where payments are infeasible or restricted. The central challenge is to reap the…
Conventional models of matching markets assume that monetary transfers can clear markets by compensating for utility differentials. However, empirical patterns show that such transfers often fail to close structural preference gaps. This…
Network slicing is emerging as a promising method to provide sought-after versatility and flexibility to cope with ever-increasing demands. To realize such potential advantages and to meet the challenging requirements of various network…
This paper presents an integrated model for bidding energy storage in day-ahead and real-time markets to maximize profits. We show that in integrated two-stage bidding, the real-time bids are independent of day-ahead settlements, while the…