Related papers: Social Shaping for Transactive Energy Systems
The conventional practice of retail electric utilities is to aggregate customers geographically. The utility purchases electricity for its customers via bulk transactions on the wholesale market, and it passes these costs along to its…
We consider the classical mathematical economics problem of {\em Bayesian optimal mechanism design} where a principal aims to optimize expected revenue when allocating resources to self-interested agents with preferences drawn from a known…
This paper adapts ideas from social identity theory to set out a new framework for modelling conspicuous consumption. Agents derive utility from their consumption of a status good and from belonging to an identity group with high status…
We discuss a novel microscopic model for collective decision-making interacting multi-agent systems. In particular we are interested in modeling a well known phenomena in the experimental literature called equality bias, where agents tend…
We consider users which may have renewable energy harvesting devices, or distributed generators. Such users can behave as consumer or producer (hence, we denote them as prosumers) at different time instances. A prosumer may sell the energy…
We consider transferable-utility profit-sharing games that arise from settings in which agents need to jointly choose one of several alternatives, and may use transfers to redistribute the welfare generated by the chosen alternative. One…
We consider the problem of social choice when transfers between agents are possible. This includes several canonical applications: public-good provision, management of a common resource, settlement of debts, and division of goods. The…
Recent trends express the impact of prosumers and small energy resources and storages in distribution systems, due to the increasing uptake of renewable resources. This research studies the effect of coordination of distributed resources…
This paper presents a network-based multi-agent optimization model for the strategic planning of service facilities in a stochastic and competitive market. We focus on the type of service facilities that are of intermediate nature, i.e.,…
This paper presents an automated peer-to-peer negotiation strategy for settling energy contracts among prosumers in a Residential Energy Cooperative considering heterogeneity prosumer preferences. The heterogeneity arises from prosumers'…
A multi-agent coverage problem is considered with energy-constrained agents. The objective of this paper is to compare the coverage performance between centralized and decentralized approaches. To this end, a near-optimal centralized…
A minimal model of a market of myopic non-cooperative agents who trade bilaterally with random bids reproduces qualitative features of short-term electric power markets, such as those in California and New England. Each agent knows its own…
This paper shows that a well designed transport system has an embedded exchange value by serving as a market for potential exchange between consumers. Under suitable conditions, one can improve the welfare of consumers in the system simply…
We consider communication problems in the setting of mobile agents deployed in an edge-weighted network. The assumption of the paper is that each agent has some energy that it can transfer to any other agent when they meet (together with…
In the standard Mechanism Design framework, agents' messages are gathered at a central point and allocation/tax functions are calculated in a centralized manner, i.e., as functions of all network agents' messages. This requirement may cause…
We study the classic principal-agent model when the signal observed by the principal is chosen by the agent. We fully characterize the optimal information structure from an agent's perspective in a general moral hazard setting with limited…
We consider a stochastic optimal control problem in a market model with temporary and permanent price impact, which is related to an expected utility maximization problem under finite fuel constraint. We establish the initial condition…
With the increasing frequency of high impact low probability events, electricity markets are experiencing significant price spikes more often. This paper proposes a novel social equity driven optimal power flow framework to mitigate the…
Is transparency always beneficial in complex systems such as traffic networks and stock markets? How is transparency defined in multi-agent systems, and what is its optimal degree at which social welfare is highest? We take an agent-based…
We study a screening problem in which an agent privately observes a set of feasible technologies and can strategically disclose only a subset to the principal. The principal then takes an action whose payoff consequences for both players…