Related papers: Prosumer Behavior: Decision Making with Bounded Ho…
This paper investigates interaction among residential electricity users and utility company in a distribution network with the capability of two-way communication provided by smart grid. The energy consumption scheduling of electricity…
Efficient residential sector coupling plays a key role in supporting the energy transition. In this study, we analyze the structural properties associated with the optimal control of a home energy management system and the effects of common…
Towards the realization of a sustainable, fair and inclusive society, we proposed a novel decision-making model that incorporates social norms in a rational choice model from the standpoints of deontology and utilitarianism. We proposed a…
Incentive programs and ongoing reduction in costs are driving joint installation of solar PV panels and storage systems in residential households. There is a need for optimal investment decisions to reduce the electricity consumption costs…
Future electricity distribution grids will host a considerable share of the renewable energy sources needed for enforcing the energy transition. Demand side management mechanisms play a key role in the integration of such renewable energy…
In order to achieve greenhouse gas neutrality by 2045, the Climate Protection Act sets emission reduction targets for the years 2030 and 2040, as well as decreasing annual emission volumes for some sectors, including the building sector.…
We examine the joint investment and operational decisions of a prosumer, a customer who both consumes and generates electricity, under net energy metering (NEM) tariffs. Traditional NEM schemes provide temporally flat compensation at the…
This work considers a Bayesian signal processing problem where increasing the power of the probing signal may cause risks or undesired consequences. We employ a market based approach to solve energy management problems for signal detection…
This paper studies how platform design shapes strategic behavior in decentralized electricity trading. We develop a finite-horizon dynamic game in which photovoltaic- and battery-equipped players ("prosumers") trade on a platform that maps…
To study the assumption that the utility maximization hypothesis implicitly adds to consumer theory, we consider a mathematical representation of pre-marginal revolution consumer theory based on subjective exchange ratios. We introduce two…
The non-stationarity characteristic of the solar power renders traditional point forecasting methods to be less useful due to large prediction errors. This results in increased uncertainties in the grid operation, thereby negatively…
Achieving a successful energetic transition through a smarter and greener electricity grid is a major goal for the 21st century. It is assumed that such smart grids will be characterized by bidirectional electricity flows coupled with the…
To choose between two discrete goods, a consumer pays attention to only those with prices below a threshold. From these, she chooses her most preferred good. We assume consumers in a population have the same preference but may have…
We consider an expected utility maximization problem where the utility function is not necessarily concave and the time horizon is uncertain. We establish a necessary and sufficient condition for the optimality for general non-concave…
We consider a sequential decision making process, such as renewable energy trading or electrical production scheduling, whose outcome depends on the future realization of a random factor, such as a meteorological variable. We assume that…
Automated recommendations can nowadays be found on many e-commerce platforms, and such recommendations can create substantial value for consumers and providers. Often, however, not all recommendable items have the same profit margin, and…
To mitigate issues related to the growth of variable smart loads and distributed generation, distribution system operators (DSO) now make it binding for prosumers with inverters to operate under pre-set rules. In particular, the maximum…
The energy consumption of private households amounts to approximately 30% of the total global energy consumption, causing a large share of the CO2 emissions through energy production. An intelligent demand response via load shifting…
Current Energy systems located in almost all nations are going through a radical transformation motivated by technological, environmental and institutional needs. The introduction of novel technologies for energy production and storing, the…
Sharpe et al. proposed the idea of having an expected utility maximizer choose a probability distribution for future wealth as an input to her investment problem instead of a utility function. They developed a computer program, called The…