In this paper, the problem of transmission loss allocation has been studied and a new method for loss allocation in transaction-based markets has been proposed. To further this end, first transmission line loss equations were used with respect to bus injected currents. The share of each bus from the mentioned transmission line losses was determined. Then, this method was applied to the total ne...

In restructured power market, power producers and customers utilize the transmission network and try to maximize their benefits. Hence it is important to improve the static ATC for allowing more transaction in future without any transmission limit violation. This paper suggests the method for establishing bilateral/multilateral transaction based on the optimal generator selection and it’s shari...

We compare the well-known first-price auction with a common but previously unexamined exchange process that we term “multilateral negotiations.” In multilateral negotiations, a buyer solicits price offers for a homogeneous product from sellers with heterogeneous costs, and then plays the sellers off one another to obtain additional price concessions. Using experimental methods, we find that tra...

In deregulated power system due to the increase of power transactions in transmission open access the transmission cost allocation is one of the major problems. For each transaction the Transaction Impact Factors (TIFs) are developed for the allocation of the transmission transaction costs. The transmission Impact Factor gives the information about the real power flow in the transmission lines ...

The present deregulated electricity industry has evolved into a distributed and competitive industry in which market forces drive the price of electricity and reduce the net cost of electricity. However the competitions in these markets require identification of the use of transmission networks, mainly the participation of utilities in losses caused in the transmission lines. This is because th...

The overall change in computing from manipulation to delegation was already predicted in the mid-90s but hitherto remains a bold vision. Although software agents have the potential of fully automating processes, real world agent-based applications are very limited in number. Even in the case of electronic markets software agents are rarely employed, albeit they can act as autonomous representat...

I use the nuclear proliferation regime to show that dyadic diplomacy is not necessarily incompatible with the building of a multilateral regime; bilateralism is not the opposite of multilateralism, but an efficient component thereof+ Although this point will not be new to most students of institutions, no general rationale has so far been offered on the complementarity of bilateral and multilat...

We use the experimental method to compare second-price auctions to “verifiable” multilateral negotiations in which the sole buyer can credibly reveal to sellers the best price offer it currently holds. We find that transaction prices are lower in verifiable multilateral negotiations than in second-price auctions, despite the two institutions’ seeming equivalence. The difference occurs because l...

Statistical equilibrium is a short-run, temporary equilibrium model of market exchange which replaces the Walrasian picture of the market in equilibrium as a budget hyperplane defined by equilibrium relative prices with a scalar field of transactions probabilities. Statistical equilibrium synthesizes the classical notion of competition as a market with a large number of traders with the idea of...

The use of multilateral well is becoming an emerging method to improve oil recovery efficiently and to drain reservoirs more efficacious. By developing drilling technology, completing the oil wells as multilateral wells become more interesting especially from economic point of view. On the other hand, lack of any means for forecasting the performance of this type of wells causes drilling of...