Due to the limited predictability and associated uncertainty of renewable energy resources, renewable-based electricity systems are confronted with instability problems. In such power systems, implementation of Demand Response (DR) programs not only can improve the system stability but also enhances market efficiency and system reliability. By implementing cloud-based engineering systems the ut...

this paper represents a complete survey on generation companies’ (gencos’) optimal bidding strategy problem in restructured power markets. in this regard after an introduction to competitive electricity markets, concept of optimal bidding strategy is presented. considering large amount of works accomplished in this area a novel classification is implemented in order to categorize the existing d...

We consider a variation of the traditional single-leg, multi-period revenue management problem in which consumers act strategically and bid for units of a fixed capacity over time. Buyers compete directly against each other within a period as in a traditional auction and indirectly with bidders in other periods through the opportunity cost of capacity assessed by the seller. The number of bidde...

Aggregating the Demand Response (DR) is approved as an effective solution to improve the participation of consumers to wholesale electricity markets. DR aggregator can negotiate the amount of collected DR of their customers with transmission system operator, distributors, and retailers in Demand Response eXchange (DRX) market, in addition to participate in the energy market. In this paper, a fr...

Abstract Auctioneers of patents are observed to allow joint bidding by coalitions buyers. These auctions distinguished the good for sale being nonrivalrous, but still excludable, in consumption—that is, they club goods. This affects how coalitional impacts auction performance. We study implications bidders on second‐price (or equivalently, ascending‐price) auctions. Although formation can benef...

Indicative bidding is a practice commonly used in sales of complex and very expensive assets. Theoretical analysis shows that efficient entry is not guaranteed under indicative bidding, since there is no equilibrium in which more qualified bidders are more likely to be selected for the final sale. Furthermore, there exist alternative bid procedures that, in theory at least, guarantee 100% effic...

Game theorists and market designers focus on the impact of the rules of the game on the behavior of the participants. Participants in internet markets can be human bidders bidding in person or artificial agents used by human bidders. Thus, the performance of market rules depends on what behavior the rules elicit from human and artificial agents. At the same time, the performance of software age...

In a mature water market with many active buyers and sellers and with a free flow of information about supply, demand and prices paid, prices should not vary greatly at any given time. Willing buyers should always be prepared to pay the going price set by the most efficient and highest value producing irrigators. This paper will analyse the prices paid in two water markets in Australia and iden...

The popularity of online auctioning has grown meteorically since the late 90s. This attraction is due to their convenience, low cost and ability to reach large (even worldwide) audiences. However, despite the advantages there are many problems inherent in auctioning online. One such problem is shill bidding where spurious bids are introduced into an auction to drive up the final price for the s...