With the development of demand response (DR) technologies and increasing electricity demand, dynamic pricing has been a popular topic in many countries. This paper evaluates various dynamic pricing programs in the U.S. and Europe, and provides insights into various aspects including risks and rewards, enabling technologies, lower-income groups and customer types surrounding programs such as Tim...

In this paper, verification of real-time pricing systems of electricity is considered using a probabilistic Boolean network (PBN). In real-time pricing systems, electricity conservation is achieved by manipulating the electricity price at each time. A PBN is widely used as a model of complex systems, and is appropriate as a model of realtime pricing systems. Using the PBN-based model, real-time...

The California electric company, i.e., PG&E (Pacific Gas and Electric Co.,), has recently announced its intentions to charge small businesses in the state with dynamic prices for electricity consumption. In this regard, we study a real-time electricity pricing model in the paper and compare it with two static pricing models. We show that real-time pricing outplays static pricing when it comes t...

Reverse pricing has been recognized as an effective tool to handle demand uncertainty in the travel industry (e.g., airlines and hotels). To investigate its viability for communication networks, we study the practical limitations of (operator-driven) time-dependent pricing that has been recently introduced, taking into account demand uncertainty. Compared to (operator-driven) time-dependent pri...

By employing dynamic pricing, the act of changing prices over time within a marketplace, sellers have the potential to increase their revenue by selling goods to buyers "at the right time, at the right price." Software agents have been used in electronic commerce systems to assist buyers, but there is limited use of selling agents in today's markets. As dynamic pricing systems become necessary ...

futures contract is one of the most important derivatives that is used in financial markets in all over the world to buy or sell an asset or commodity in the future. pricing of this tool depends on expected price of asset or commodity at the maturity date. according to this, theoretical futures pricing models try to find this expected price in order to use in the futures contract. so in this ar...

Demand-based pricing is underused in many service industries, because customers are believed to perceive such pricing as unfair. Fencing can be highly effective in improving the perceived fairness of demand-based pricing. In this study, five fences were explored in a restaurant context across three countries (Singapore, Sweden, and the United States). Demand-based pricing in the form of coupons...

We demonstrate how pricing functionals give rise to pricing measures, using a time-independent framework. For infinite market state spaces, the Gel’fand spectral theory is used to obtain the pricing measure. Pricing functionals with additional market information are shown, within this model, to be given by conditional expectations.