Virtual bidding provides a mechanism for financial players to participate in wholesale day-ahead (DA) electricity markets. The price difference between DA and real-time (RT) markets creates arbitrage opportunities players. Physical market participants (MP), referred as with physical assets this paper, can also take advantage of virtual but different way, which is further amplify the value their...

Wind power producers have recently gained a significant penetration in the electric network, which might cause some challenges for system operation due to uncertainties generated power. In this way, wind owners may offer different services, such as providing reserve capacity besides their conventional role of delivering just energy. Currently, generators are main responsible case uncertainty re...

In future electricity systems, not only generation but also frequency stabilization must be provided by low-carbon technologies. Battery systems are a promising solution to fill this gap. However, uncertainties regarding their revenue potential may hinder investments. Therefore, we apply the agent-based market model AMIRIS simulate day-ahead and an automatic restoration reserves market. Demonst...

The electronic market hypothesis (EMH) predicts that by reducing coordination costs, information technology (IT) will shift industrial organization from hierarchical to market-based forms of economic activity. While academic researchers and practitioners have witnessed these shifts with the advent of the Internet, there is little understanding about the process and the underlying forces that dr...

Much of the early research in electronic markets suggested that the proliferation of ecommerce would ultimately threaten the presence of intermediaries in electronic value chains. However, a careful analysis of the structure and functions of electronic marketplaces indicates that intermediaries provide many value-adding functions that cannot be easily substituted or ‘internalised’ through direc...

We examine the relative and complementary effectiveness of trust-building strategies in online environments. While prior research has examined various antecedents to trust, we investigated two trust-building mechanisms more in depth: Web site trust and vendor reputation. We tried to understand the relative effectiveness of these two important mechanisms to provide online businesses with a clear...

European businesses today are showing a significant interest in the concept of business process redesign, not in the least because its advocates promise a dramatic decrease in costs and a similar increase in sales. Since information and communication technology seem to play enabling roles, one can expect electronic markets to be significantly contributing to the effects of business process rede...

Previous research indicated that the performance of interorganizational processes in electronic markets and hierarchies is influenced by eight factors: stakeholders, competition, information technology, market network (re)design, risk, process (re)design, information, and trust. This paper focuses on the inter-organizational processes related to the settlement (clearing) of cross border Euro pa...

Improved consumer addressability in electronic markets allows vendors to send focused promotional messages to specific customers, facilitating a targeted advertising approach that we call “narrowcasting”. We characterize a rational consumer’s market participation decision and identify a narrowcasting firm’s optimal targeting decision when buyers face nontrivial search costs. In the special case...

Electronic intermediaries enable and support electronic markets with their services. This paper provides a framework based on industrial dynamics theory, for the analysis of the influence of electronic intermediaries on the performance of markets. We define five market performance indicators based on the analysis of 10 well-described cases from the literature on electronic markets that were set...