Priceline is best known for its name-your-own-price format, in which consumers bid for services but not for service providers. Because Priceline serves as an opaque selling mechanism, it attracts price-conscious consumers. Sellers also benefit because they can price into multiple market segments without worrying that they are diluting revenue they might receive from customers who are willing to...

This paper considers a manufacturer selling to a newsvendor retailer that possesses superior demand-forecast information. We show that the manufacturer’s expected profit is convex in the retailer’s forecasting accuracy: The manufacturer benefits from selling to a better-forecasting retailer if and only if the retailer is already a good forecaster. If the retailer has poor forecasting capabiliti...

Over the past few years, firms in the travel and entertainment industries have begun using novel sales strategies for revenue management. In this chapter, we study a selling strategy called opaque selling, in which firms guarantee one of several fully specified products, but hide the identity of the product that the consumer will actually obtain until after the purchase is completed. Several fi...

In order to reduce the cost of electricity produced by wave energy converters (WECs), the benefit of selling electricity as well as the investment costs of the structure has to be considered. This paper presents a methodology for assessing the control strategy for a WEC with respect to both energy output and structural fatigue loads. Different active and passive control strategies are implement...

Arena is a software package intended to help e-commerce strategy researchers and designers test buying and selling strategies under different scenarios. It implements and adheres to a set of design criteria intended to ensure its simulation ability as well as prolonging its usable lifetime. The process of implementing Arena involved conducting background research into current strategies and the...

This paper proposes a novel bi-level strategic energy trading framework to minimize the operation cost of distribution network (DN) interacting with peer-to-peer (P2P) transactive hubs electric vehicles. A system operator at upper level minimizes its total from purchasing electricity in wholesale market, generating own microturbines, and selling hubs. Each hub lower reacts offer price received ...

This paper uses the energy hub concept to meet the water, heat and electricity demand of a power plant in the Qeshm island in south of Iran. Given the power plant’s high potential for waste heat recovery and some scenarios were considered using the hub energy concept based on energy, exergy, environmental and economic analyzes in terms of meeting the demands of the hub and purchasing/selling en...

this paper estimates the trend of total energy subsidies from year 2003 (that is 16.68% of gdp) and running a model, predicts that energy subsidies will reach to 20% of gdp by 2019 if subsidies continue. also environmental damage costs of energy consumption have been entered the model (environmental cost-benefit analysis model: ecba model) in addition to the vast amounts of subsidies. so damage...

In this study, we investigate the operation of an optimal home energy management system (HEMS) with integrated renewable (RES) and storage (ESS) supporting electricity selling functions. A multi-objective mixed integer nonlinear programming model, including RES, ESS, appliances main grid, is proposed to optimize different conflicting objectives which are cost, user comfort PAR. The effect price...