In this paper we consider the problem of a firm the that builds inventory of identical items that it acquires by participating in auctions in order to satisfy its own market demand. The objective of the firm is to have a procurement strategy that maximizes the expected present value of the profit, both for finite and infinite planning horizons. We present an MDP formulation of the problem. Unde...

Modern datacenters need to tackle efficiently the increasing demand for computing resources while minimizing energy usage and monetary costs. Power market operators have recently introduced emerging demand-response programs, in which electricity consumers regulate their power following provider requests reduce Among different regulation service (RS) reserves are particularly promising due high ...

Faced with the challenge of increasing share renewable energy generation, many countries have put local peer-to-peer (P2P) markets on their political agenda for driving adoption energy. This is first study to examine this concept empirically in a real-world P2P market, which was auctioned among households area. Over duration an entire year, field investigated whether engaged bidding and trading...

A single object is for sale to N asymmetric buyers in the independent private values setting by means of an English auction. We consider implications of seller’s active participation in the bidding process, or shill bidding. The main result is that there exists an equilibrium of the English auction with shill bidding that is outcome equivalent to the optimal mechanism of Myerson (1981). Thus, a...

We investigate the problem of optimal bidding for a firm that in each period procures items to meet a random demand by participating in a finite sequence of auctions. We develop a new model for a firm where its item valuation derives from the sale of the acquired items via their demand distribution, sale price, acquisition cost, salvage value and lost sales. We establish monotonicity properties...

The awareness of energy consumption is an important factor for production. Energy consumption is related to costs. Regulations and laws have to be fulfilled. Furthermore, the ecological aspects have to be considered. Nevertheless, competitive goals prohibit an solely energy driven production control. In this paper, we describe the use case of demand-side energy management in the context of the ...

Pakistan's population welfare program was established with the assumption that many people in Pakistan did not use contraception because they had no access to an available supply of contraceptive methods. Were they provided contraceptives, widespread latent demand would translate into effective demand, and the contraceptive supplies would be used. The population welfare program since its ince...

The continuing expansion of Internet media consumption has increased traffic volumes, and hence congestion, on access links. In response, both mobile and wireline ISPs must either increase capacity or perform traffic engineering over existing resources. Unfortunately, provisioning timescales are long, the process is costly, and single-homing means operators cannot balance across the last mile. ...

We study the problem of incentivizing reliable demand-response in modern electricity grids. Each agent is uncertain about her future ability to reduce demand and unreliable. Agents who choose to participate in a demand-response scheme may be paid when they respond and penalized otherwise. The goal is to reliably achieve a demand reduction target while selecting a minimal set of agents from thos...