Transforming Energy Networks via Peer to Peer Energy Trading: Potential of Game Theoretic Approaches

Peer-to-peer (P2P) energy trading has emerged as a next-generation energy management mechanism for the smart grid that enables each prosumer of the network to participate in energy trading with one another and the grid. This poses a significant challenge in terms of modeling the decision-making process of each participant with conflicting interest and motivating prosumers to participate in energy trading and to cooperate, if necessary, for achieving different energy management goals. Therefore, such decision-making process needs to be built on solid mathematical and signal processing tools that can ensure an efficient operation of the smart grid. This paper provides an overview of the use of game theoretic approaches for P2P energy trading as a feasible and effective means of energy management. As such, we discuss various games and auction theoretic approaches by following a systematic classification to provide information on the importance of game theory for smart energy research. Then, the paper focuses on the P2P energy trading describing its key features and giving an introduction to an existing P2P testbed. Further, the paper zooms into the detail of some specific game and auction theoretic models that have recently been used in P2P energy trading and discusses some important finding of these schemes.Comment: 38 pages, single column, double spac

An Economist's Guide to Digital Music

In this guide, we discuss the impact of digitalization on the music industry. We rely on market and survey data at the international level as well as expert statements from the industry. The guide investigates recent developments in legal and technological protection of digital music and describes new business models as well as consumers' attitude towards music downloads. We conclude the guide by a discussion of the evolution of the music industry

Incentive Mechanisms in Peer-to-Peer Networks — A Systematic Literature Review

Centralized networks inevitably exhibit single points of failure that malicious actors regularly target. Decentralized networks are more resilient if numerous participants contribute to the network’s functionality. Most decentralized networks employ incentive mechanisms to coordinate the participation and cooperation of peers and thereby ensure the functionality and security of the network. This article systematically reviews incentive mechanisms for decentralized networks and networked systems by covering 165 prior literature reviews and 178 primary research papers published between 1993 and October 2022. Of the considered sources, we analyze 11 literature reviews and 105 primary research papers in detail by categorizing and comparing the distinctive properties of the presented incentive mechanisms. The reviewed incentive mechanisms establish fairness and reward participation and cooperative behavior. We review work that substitutes central authority through independent and subjective mechanisms run in isolation at each participating peer and work that applies multiparty computation. We use monetary, reputation, and service rewards as categories to differentiate the implementations and evaluate each incentive mechanism’s data management, attack resistance, and contribution model. Further, we highlight research gaps and deficiencies in reproducibility and comparability. Finally, we summarize our assessments and provide recommendations to apply incentive mechanisms to decentralized networks that share computational resources

An Economist's Guide to Digital Music

In this guide, we discuss the impact of digitalization on the music industry. We rely on market and survey data at the international level as well as expert statements from the industry. The guide investigates recent developments in legal and technological protection of digital music and describes new business models as well as consumers' attitude towards music downloads. We conclude the guide by a discussion of the evolution of the music industry.Music; Internet; File-sharing; Peer-to-peer; Piracy; Digital Rights Management; Copyright; E-commerce

Incentive Schemes in Peer-to-Peer Networks

In this paper we use mechanism design approach to find the optimal file-sharing mechanism in a peer-to-peer network. This mechanism improves upon existing incentive schemes. In particular, we show that peer-approved scheme is never optimal and service-quality scheme is optimal only under certain circumstances. Moreover, we find that the optimal mechanism can be implemented by a mixture of peer-approved and service-quality schemes

An Economist’s Guide to Digital Music

In this guide, we discuss the impact of digitalization on the music industry. We rely on market and survey data at the international level as well as expert statements from the industry. The guide investigates recent developments in legal and technological protection of digital music and describes new business models as well as consumers' attitude towards music downloads and audio-streaming. We conclude the guide by a discussion of the evolution of the music industry.music, internet, file-sharing, peer-to-peer, piracy, digital rights management, copyright, e-commerce