Related papers: Optimization-based modelling and game-theoretic fr…
While consolidation strategies form the backbone of many supply chain optimisation problems, exploitation of multi-tier material relationships through consolidation remains an understudied area, despite being a prominent feature of…
We analyze the efficiency of markets with friction, particularly power markets. We model the market as a dynamic system with $(d_t;\,t\geq 0)$ the demand process and $(s_t;\,t\geq 0)$ the supply process. Using stochastic differential…
An optimal scheduling model for a microgrid participating in the electricity distribution market in interaction with a Distribution Market Operator (DMO) is proposed in this paper. The DMO administers the established electricity market in…
Industrial electricity consumers with flexible demand can profit by adjusting their load to short-term prices and by providing balancing services to the grid. Markets which support this kind of short-term position adjustment are the…
Distributed Generation (DG) units are increasingly installed in the power systems. Distribution Companies (DisCo) can opt to purchase the electricity from DG in an energy purchase contract to supply the customer demand and reduce energy…
To accommodate the advent of microgrids (MG) managing distributed energy resources (DER) in distribution systems, an interactive two-stage joint retail electricity market mechanism is proposed to provide an effective platform for these…
This article presents a set of tools for the modeling of a spatial allocation problem in a large geographic market and gives examples of applications. In our settings, the market is described by a network that maps the cost of travel…
We study fair allocation of constrained resources, where a market designer optimizes overall welfare while maintaining group fairness. In many large-scale settings, utilities are not known in advance, but are instead observed after…
We study the problem of online dynamic pricing with two types of fairness constraints: a "procedural fairness" which requires the proposed prices to be equal in expectation among different groups, and a "substantive fairness" which requires…
A novel high-frequency market-making approach in discrete time is proposed that admits closed-form solutions. By taking advantage of demand functions that are linear in the quoted bid and ask spreads with random coefficients, we model the…
We propose a framework for studying optimal market making policies in a limit order book (LOB). The bid-ask spread of the LOB is modelled by a Markov chain with finite values, multiple of the tick size, and subordinated by the Poisson…
In this paper, we investigate a practical demand side management scenario where the selfish consumers compete to minimize their individual energy cost through scheduling their future energy consumption profiles. We propose an instantaneous…
Recent research in industrial organisation has investigated the essential place that middlemen have in the networks that make up our global economy. In this paper we attempt to understand how such middlemen compete with each other through a…
The increasing challenges to the grid stability posed by the penetration of renewable energy resources urge a more active role for demand response programs as viable alternatives to a further expansion of peak power generators. This work…
This paper studies the optimal mechanisms for the vertically integrated utility to dispatch and incentivize the third-party demand response (DR) providers in its territory. A framework is proposed, with three-layer coupled Stackelberg and…
Network virtualization allows one to build dynamic distributed systems in which resources can be dynamically allocated at locations where they are most useful. In order to fully exploit the benefits of this new technology, protocols need to…
In this paper we consider a distributed optimization scenario in which a set of processors aims at cooperatively solving a class of min-max optimization problems. This set-up is motivated by peak-demand minimization problems in smart grids.…
Minimizing the peak power consumption and matching demand to supply, under fixed threshold polices, are two key requirements for the success of the future electricity market. In this work, we consider dynamic pricing methods to minimize the…
The integration of renewable generation poses operational and economic challenges for the electricity grid. For the core problem of power balance, the legacy paradigm of tailoring supply to follow random demand may be inappropriate under…
In multi-hop secondary networks, bidding strategies for spectrum auction, route selection and relaying incentives should be jointly considered to establish multi-hop communication. In this paper, a framework for joint resource bidding and…