Related papers: Herd Behavior in Decentralized Balancing Models: A…
Reinforcement learning algorithms require a large amount of samples; this often limits their real-world applications on even simple tasks. Such a challenge is more outstanding in multi-agent tasks, as each step of operation is more costly…
In this study, we develop a theoretical model of strategic equilibrium bidding and price-setting behaviour by heterogeneous and boundedly rational electricity producers and a grid operator in a single electricity market under uncertain…
This paper studies decentralized re-equilibration following population shocks, such as worker exits or firm entries, in many-to-many matching markets with contracts under substitutable preferences. We show that restricting any pre-shock…
This paper presents an innovative distributed bio-inspired posture control strategy for a humanoid, employing a balance control system DEC (Disturbance Estimation and Compensation). Its inherently modular structure could potentially lead to…
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…
There is growing interest in the use of grid-level storage to smooth variations in supply that are likely to arise with increased use of wind and solar energy. Energy arbitrage, the process of buying, storing, and selling electricity to…
Keeping the electricity production in balance with the actual demand is becoming a difficult and expensive task in spite of an involvement of experienced human operators. This is due to the increasing complexity of the electric power grid…
This paper proposes a bi-level optimization framework to investigate the optimal market operation strategies of price-maker battery energy storage systems (BESSs) in real-time energy, spinning reserve, and pay as performance regulation…
While multimodal mobility systems have the potential to bring many benefits to travelers, drivers, the environment, and traffic congestion, such systems typically involve multiple non-cooperative decision-makers who may selfishly optimize…
In online auctions, fraudulent behaviors such as shill bidding pose significant risks. This paper presents a conceptual framework that applies dynamic, behavior-based penalties to deter auction fraud using blockchain smart contracts. Unlike…
The increasing penetration of distributed energy resources has sparked interests in participating in power markets. Here, we consider two settings where Virtual Power Plants (VPPs) with some flexible resources participate in the electricity…
This paper studies an electricity market consisting of an independent system operator (ISO) and a group of generators. The goal is to solve the DC optimal power flow (DC-OPF) problem: have the generators collectively meet the power demand…
New resource mix, e.g., renewable resources, are imposing operational complexities to modern power systems by intensifying uncertainty and variability in the system net load. This issue has motivated independent system operators (ISOs),…
In the context of network dynamics, the complexity of systems increases possible evolutionary paths that often are not deterministic. Occasionally, some map routs form over the course of time which guide systems towards some particular…
This paper presents an optimal scheduling model for a microgrid participating in the electricity distribution market in interaction with the Distribution Market Operator (DMO). The DMO is a concept proposed here, which administers the…
The large integration of variable energy resources is expected to shift a large part of the energy exchanges closer to real-time, where more accurate forecasts are available. In this context, the short-term electricity markets and in…
This paper proposes an agent-based model that combines both spot and balancing electricity markets. From this model, we develop a multi-agent simulation to study the integration of the consumers' flexibility into the system. Our study…
Automated Market Makers (AMMs) are a central component of decentralized exchanges, yet their equilibrium foundations and microeconomic mechanisms remain incompletely understood. This paper develops a dynamic equilibrium framework for…
Balanced truncation (BT) is a model reduction method that utilizes a coordinate transformation to retain eigen-directions that are highly observable and reachable. To address realizability and scalability of BT applied to highly stiff and…
The increase of renewables in the grid and the volatility of the load create uncertainties in the day-ahead prices of electricity markets. Adaptive robust optimization (ARO) and stochastic optimization have been used to make commitment and…