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Integrated with a high share of Inverter-Based Resources (IBRs), microgrids face increasing complexity of frequency dynamics, especially after unintentional islanding from the maingrid. These IBRs, on the other hand, provide more control…
We present a simple model of a non-equilibrium self-organizing market where asset prices are partially driven by investment decisions of a bounded-rational agent. The agent acts in a stochastic market environment driven by various exogenous…
Decentralized exchanges using automated market makers create arbitrage opportunities with centralized exchanges, where gas fees and transaction ordering are critical. Existing models largely overlook competition among arbitrageurs, despite…
Decentralized stochastic control problems with local information involve problems where multiple agents and subsystems which are coupled via dynamics and/or cost are present. Typically, however, the dynamics of such couplings is complex and…
Dynamic routing occurs when customers are not known in advance, e.g. for real-time routing. Two heuristics are proposed that solve the balanced dynamic multiple travelling salesmen problem (BD-mTSP). These heuristics represent operational…
Load aggregators are independent private entities whose goal is to optimize energy consumption flexibilities offered by multiple residential consumers. Although aggregators optimize their decisions in a decentralized way, they are…
Transactive or market-based coordination strategies have recently been proposed for controlling the aggregate demand of a large number of electric loads. Such schemes offer operational benefits such as enforcing distribution feeder capacity…
We study day-ahead bidding strategies for wind farm operators under a one-price balancing scheme, prevalent in European electricity markets. In this setting, the profit-maximising strategy becomes an all-or-nothing strategy, aiming to take…
Amplification and phase shift in ordering signals, commonly referred to as bullwhip, are responsible for both excessive strain on real world inventory management systems, stock outs, and unnecessary capital reservation though safety stock…
Platform giants in China have operated with persistently compressed margins in highly concentrated markets for much of the past decade, despite market shares exceeding 60\% in core segments. Standard theory predicts otherwise: either the…
High penetration of renewable energy sources (RES) introduces significant uncertainty and intermittency into microgrid operations, posing challenges to economic and reliable scheduling. To address this, this paper proposes an end-to-end…
Demand side management has gained increasing importance as the penetration of renewable energy grows. Based on a Markov jump process modelling of a group of thermostatic loads, this paper proposes a two level feedback system design between…
We investigate the effects of the social interactions of a finite set of agents on an equilibrium pricing mechanism. A derivative written on non-tradable underlyings is introduced to the market and priced in an equilibrium framework by…
Making Smart Cities more sustainable, resilient and democratic is emerging as an endeavor of satisfying hard constraints, for instance meeting net-zero targets. Decentralized multi-agent methods for socio-technical optimization of…
Swarm robotics is a study of simple robots that exhibit complex behaviour only by interacting locally with other robots and their environment. The control in swarm robotics is mainly distributed whereas centralised control is widely used in…
Accurate and efficient imbalance electricity price forecasting is critical for industrial energy trading systems, especially as battery assets and automated bidding pipelines increasingly participate in balancing markets. However, real-time…
The operation of the power grid is becoming more stressed, due to the addition of new large loads represented by Electric Vehicles (EVs) and a more intermittent supply due to the incorporation of renewable sources. As a consequence, the…
Blockchains, and specifically smart contracts, have promised to create fair and transparent trading ecosystems. Unfortunately, we show that this promise has not been met. We document and quantify the widespread and rising deployment of…
Distribution markets are among the prospect being considered for the future of power systems. They would facilitate integration of distributed energy resources (DERs) and microgrids via a market mechanism and enable them to monetize…
This paper proposes a real-time distributed operational architecture to efficiently coordinate intergrated transmission and distribution systems (ITD). At the distribution system level, the distribution system operator (DSO) computes the…