Related papers: Optimization-based modelling and game-theoretic fr…
We propose a real-time nodal pricing mechanism for cost minimization and voltage control in a distribution network with autonomous distributed energy resources and analyze the resulting market using stochastic game theory. Unlike existing…
In this article we propose a multi-zonal integrated energy-reserve market model. We assume that bidders may submit their demand and supply bids on the one hand in the form of conventional hourly step bids and block bids, which are cleared…
This paper proposes a general and practical approach to estimate the economic benefits of optimally controlling deferrable loads in a Distribution System Operator's (DSO) grid, without relying on historical observations. We achieve this by…
The continuous electrification of the mobility and heating sectors adds much-needed flexibility to the power system. However, flexibility utilization also introduces new challenges to distribution system operators (DSOs), who need…
This paper proposes a distributed framework for demand response and user adaptation in smart grid networks. In particular, we borrow the concept of congestion pricing in Internet traffic control and show that pricing information is very…
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 work addresses the problem of scheduling user-defined analytic applications, which we define as high-level compositions of frameworks, their components, and the logic necessary to carry out work. The key idea in our application…
Efforts to apply economic complexity to identify diversification opportunities often rely on diagrams comparing the relatedness and complexity or products, technologies, or industries. Yer, the use of these diagrams is not based on…
We study the problem of designing a two-sided market (double auction) to maximize the gains from trade (social welfare) under the constraints of (dominant-strategy) incentive compatibility and budget-balance. Our goal is to do so for an…
Market makers provide liquidity to other market participants: they propose prices at which they stand ready to buy and sell a wide variety of assets. They face a complex optimization problem with both static and dynamic components. They…
Mechanisms such as auctions and pricing schemes are utilized to design strategic (noncooperative) games for networked systems. Although the participating players are selfish, these mechanisms ensure that the game outcome is optimal with…
We consider the problem of supply and demand balancing that is stated as a minimization problem for the total expected revenue function describing the behavior of both consumers and suppliers. In the considered market model we assume that…
Computational Grids, emerging as an infrastructure for next generation computing, enable the sharing, selection, and aggregation of geographically distributed resources for solving large-scale problems in science, engineering, and commerce.…
There is an opportunity in modern power systems to explore the demand flexibility by incentivizing consumers with dynamic prices. In this paper, we quantify demand flexibility using an efficient tool called time-varying elasticity, whose…
In this paper we develop a novel method of wholesale electricity market modeling. Our optimization-based model decomposes wholesale supply and demand curves into buy and sell orders of individual market participants. In doing so, the model…
We study the problem of designing revenue-maximizing auctions for allocating multiple goods to flexible consumers. In our model, each consumer is interested in a subset of goods known as its flexibility set and wants to consume one good…
The variability caused by the proliferation of distributed energy resources (DERs) and the significant growth in unbalanced three-phase loads pose unprecedented challenges to distribution network operations. This paper focuses on how a…
Renewable Energy Sources play a key role in smart energy systems. To achieve 100% renewable energy, utilizing the flexibility potential on the demand side becomes the cost-efficient option to balance the grid. However, it is not trivial to…
The vast majority of products we use daily are supplied to us through complex global supply chains that transform raw materials into finished goods and distribute them to end consumers. This paper proposes a modeling methodology for dynamic…
Demand-side management provides a great potential for improving the efficiency and reliability of energy systems. This requires a mechanism to connect the market level and the demand side. The flexibility function is a novel approach that…