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Higher shares of fluctuating generation from renewable energy sources in the power system lead to an increase in grid balancing demand. One approach for avoiding curtailment of renewable energies is to use excess electricity feed-in for…
The liberalization of electricity markets and the development of renewable energy sources has led to new challenges for decision makers. These challenges are accompanied by an increasing uncertainty about future electricity price movements.…
A seller wants to sell a good to a set of bidders using a credible mechanism. We show that when the seller has private information about her cost, it is impossible for a static mechanism to achieve the optimal revenue. In particular, even…
Auction-based recommender systems are prevalent in online advertising platforms, but they are typically optimized to allocate recommendation slots based on immediate expected return metrics, neglecting the downstream effects of…
We propose a multivariate elastic net regression forecast model for German quarter-hourly electricity spot markets. While the literature is diverse on day-ahead prediction approaches, both the intraday continuous and intraday call-auction…
Most of the work in the auction design literature assumes that bidders behave rationally based on the information available for every individual auction, and the revelation principle enables designers to restrict their efforts to incentive…
Estimation of the generated power of renewable energy resources is in general important for planning operations as well as demand balance and power quality. This paper addresses the problem of the estimation of the short-term (3-hour ahead)…
Renewable Energies (RE) have gained more attention in recent years since they offer clean and sustainable energy. One of the major sustainable development goals (SDG-7) set by the United Nations (UN) is to achieve affordable and clean…
The ambitious energy target to achieve climate-neutrality in the European Union (EU) energy system raises the feasibility question of using only renewables across all energy sectors. As one of the EU's leading industrialized countries,…
Inspired from recent insights into the common ground of machine learning, optimization and decision-making, this paper proposes an easy-to-implement, but effective procedure to enhance both the quality of renewable energy forecasts and the…
The sustained future growth of renewable energy in the distribution network is governed by its financial viability. The recent subsidies in Flanders for photovoltaic (PV) and battery are used to calculate the payback period on prosumer…
Electricity prices in liberalized markets are determined by the supply and demand for electric power, which are in turn driven by various external influences that vary strongly in time. In perfect competition, the merit order principle…
This paper describes an engine to optimize web publisher revenues from second-price auctions. These auctions are widely used to sell online ad spaces in a mechanism called real-time bidding (RTB). Optimization within these auctions is…
We study signaling in Bayesian ad auctions, in which bidders' valuations depend on a random, unknown state of nature. The auction mechanism has complete knowledge of the actual state of nature, and it can send signals to bidders so as to…
This paper studies a joint design problem where a seller can design both the signal structures for the agents to learn their values, and the allocation and payment rules for selling the item. In his seminal work, Myerson (1981) shows how to…
The transition to a sustainable energy supply challenges the operation of electric power systems in manifold ways. Transmission grid loads increase as wind and solar power are often installed far away from the consumers. In extreme cases,…
Residential prosumers with PV-battery systems increasingly manage their electricity exchange with the power grid to minimize costs. This study investigates the performance of Model Predictive Control (MPC) and Rule-Based Control (RBC) under…
Mature internet advertising platforms offer high-level campaign management tools to help advertisers run their campaigns, often abstracting away the intricacies of how each ad is placed and focusing on aggregate metrics of interest to…
The main advantage of wind and solar power plants is the power production free of CO2. Their main disadvantage is the volatility of the generated power. According to the estimates of H.-W. Sinn[1], suppressing this volatility requires…
Future greenhouse gas neutral energy systems will be dominated by renewable energy technologies providing variable supply subject to uncertain weather conditions. For this setting, we propose an algorithm for capacity expansion planning: We…