Strategic bidding in joint energy and spinning reserve markets is a challenging task from the viewpoint of generation companies (GenCos). In this paper, the interaction between energy and spinning reserve markets is modeled considering a joint probability density function for the prices of these markets. Considering pay-as-bid pricing mechanism, the bidding problem is formulated and solved as a...

This work presents a novel blockchain-based energy trading mechanism for electric vehicles consisting of day-ahead and real-time markets. In the market, vehicle users submit their bidding price to participate in double auction mechanism. Subsequently, smart match will be conducted by charging system operator, meet both personal interests social benefits. After clearing result, operator uploads ...

T seller’s threshold price in name-your-own-price auctions varies over time. However, consumers must bid without knowing when these variations occur because the threshold price is unobservable to them. This paper uses an analytical model and laboratory auctions to explore how the frequency of changes in the threshold price impacts consumer bidding behavior in name-your-own-price auctions. In pa...

PhotonicsViewsVolume 18, Issue 1 p. 85-87 Buyers' GuideFree Access Guide First published: 22 February 2021 https://doi.org/10.1002/phvs.202170115AboutPDF ToolsExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text full-text accessPlease review our Terms and Conditions of Use check box below share version article.I have read accept the Wiley Online Library UseShareab...

There exists disagreement on how Demand Response (DR) programs should be designed. This is likely because people from different fields view DR differently. For example, some see DR as a mechanism to improve electricity markets while others see it as a new control variable that can enhance power system reliability and security. In this paper, we review the many options for harnessing residential...

This paper discusses the limitations of current on-line auction systems and presents our guidelines for more dynamic attribute-based bidding. Our prototype application for airline flight bidding demonstrates our vision for interfaces that facilitate negotiation between buyers and sellers. INTRODUCTION Despite the growth in the number of on-line auction sites, there is still a need for a more dy...

Unlike perfect competitive markets, in oligopoly electricity markets due to strategic producers and transmission constraints GenCos may increase their own profit through strategic biddings. This paper investigates the problem of developing optimal bidding strategies of GenCos considering participants’ market power and transmission constraints. The problem is modeled as a bi-level optimizati...

This thesis is a collection of three essays on dynamic sales mechanisms. The first chapter analyzes the Name Your Own Price (NYOP) mechanism adopted by Priceline.com. Priceline.com, a website helping travelers obtain discount rates for travel-related items, gained prominence for its Name Your Own Price system. Under Name Your Own Price, a traveler names his price for airline tickets, hotel room...