Pricing in Nonconvex Markets: How to Price Electricity in the Presence of Demand Response.
Martin BichlerJohannes KnörrFelipe MaldonadoPublished in: Inf. Syst. Res. (2023)
Keyphrases
- spot market
- electricity markets
- profit maximizing
- market participants
- pricing strategies
- unit commitment
- dynamic pricing
- electric power
- demand forecasting
- market clearing
- power generation
- profit maximization
- financial markets
- optimal pricing
- wind power
- garch model
- optimization problems
- market share
- convex optimization
- global optimization
- revenue management
- market conditions
- expected profit
- demand function
- inventory control
- renewable energy
- electronic commerce
- mechanism design
- information goods
- software agents
- short term
- uncertain demand