A Review of ISO New England's Proposed Market Rules

This report reviews the proposed rules for restructured wholesale electricity markets in New England. We review the market rules, both individually and collectively, and identify potential problems that might limit the efficiency of these markets. We examine alternatives and identify the key tradeoffs among alternative designs. We believe that the wholesale electricity market in New England can begin on December 1, 1998. However, improvements are needed for long-run success. We have identified four major recommendations: 1. Switch to a multi-settlement system. 2. Introduce demand-side bidding. 3. Adopt location-based transmission congestion pricing, especially for the import/export interfaces. 4. Fix the pricing of the ten minute spinning reserves.Auctions; Multiple Object Auctions; Electricity Auctions

A NOTE ON THE EXISTENCE OF STARTING POINT BIAS IN ITERATIVE BIDDING GAMES

This note further illuminates the strength and direction of starting point bias in iterative bidding procedures. Conflicting recent findings concerning the starting point bias phenomenon are first briefly overviewed. The hypothesis that starting values influence valuations obtained in iterative bidding games is then tested in an experimental setting using widely disparate starting values ranging from $1 to$8,000. Statistically significant differences in mean final bidding outcomes were consistently detected in games using different starting values. This evidence, combined with test results reported elsewhere, strongly suggests that starting point value selection can have subtle but significant effects on observed final bids.Research Methods/ Statistical Methods,

Environmental analysis for application layer networks

Die zunehmende Vernetzung von Rechnern über das Internet lies die Vision von Application Layer Netzwerken aufkommen. Sie umfassen Overlay Netzwerke wie beispielsweise Peer-to-Peer Netzwerke und Grid Infrastrukturen unter Verwendung des TCP/IP Protokolls. Ihre gemeinsame Eigenschaft ist die redundante, verteilte Bereitstellung und der Zugang zu Daten-, Rechen- und Anwendungsdiensten, während sie die Heterogenität der Infrastruktur vor dem Nutzer verbergen. In dieser Arbeit werden die Anforderungen, die diese Netzwerke an ökonomische Allokationsmechanismen stellen, untersucht. Die Analyse erfolgt anhand eines Marktanalyseprozesses für einen zentralen Auktionsmechanismus und einen katallaktischen Markt. --Grid Computing

Evaluation of the use and non-use benefits of public transport: report number 1 – development of a survey methodology

This paper reports on the development of a survey methodology to discover the value people place on the retention of local public transport services, both for their own expected use and as a standby, for the use of others or for the benefits in terms of reduced congestion, improved environment and accessibility they might bring. A survey of the literature suggested that numerous problems of potential bias would be faced. The most serious were likely to be strategic bias, starting point bias, information bias and social-norm bias. Other problems were choice of payment mechanism, how to obtain household rather than individual valuations and non-response bias. Initially a set of exploratory interviews were undertaken. These confirmed that people were able to understand the issues involved, but that they had difficulty particularly with open-ended willingness to pay questions and with assigning values to different types of benefit. They were also sensitive to the payment mechanism, being very hostile to the idea of a subscription scheme. Based on these interviews, attempts were made to design a self completion questionnaire. However, two major problems were encountered. One was the low level of response (20% or less). The second was evidence (confirmed by follow up interviews) of incomplete response, misunderstanding of questions and a failure to think through the full implications of the situations and responses postulated. This led us to develop a new technique, based on hand delivery and collection of a travel diary, which was used as a basis for a follow-up interview. This enabled the interview to be structured towards the unique circumstances of the individual, to explore the options available as alternatives to the existing mode, and to obtain use and non use values in the context of a detailed discussion of the use and importance of local bus services

Spectrum Trading: An Abstracted Bibliography

This document contains a bibliographic list of major papers on spectrum trading and their abstracts. The aim of the list is to offer researchers entering this field a fast panorama of the current literature. The list is continually updated on the webpage \url{http://www.disp.uniroma2.it/users/naldi/Ricspt.html}. Omissions and papers suggested for inclusion may be pointed out to the authors through e-mail (\textit{[email protected]})

Catching Cheats: Detecting Strategic Manipulation in Distributed Optimisation of Electric Vehicle Aggregators

Given the rapid rise of electric vehicles (EVs) worldwide, and the ambitious targets set for the near future, the management of large EV fleets must be seen as a priority. Specifically, we study a scenario where EV charging is managed through self-interested EV aggregators who compete in the day-ahead market in order to purchase the electricity needed to meet their clients' requirements. With the aim of reducing electricity costs and lowering the impact on electricity markets, a centralised bidding coordination framework has been proposed in the literature employing a coordinator. In order to improve privacy and limit the need for the coordinator, we propose a reformulation of the coordination framework as a decentralised algorithm, employing the Alternating Direction Method of Multipliers (ADMM). However, given the self-interested nature of the aggregators, they can deviate from the algorithm in order to reduce their energy costs. Hence, we study the strategic manipulation of the ADMM algorithm and, in doing so, describe and analyse different possible attack vectors and propose a mathematical framework to quantify and detect manipulation. Importantly, this detection framework is not limited the considered EV scenario and can be applied to general ADMM algorithms. Finally, we test the proposed decentralised coordination and manipulation detection algorithms in realistic scenarios using real market and driver data from Spain. Our empirical results show that the decentralised algorithm's convergence to the optimal solution can be effectively disrupted by manipulative attacks achieving convergence to a different non-optimal solution which benefits the attacker. With respect to the detection algorithm, results indicate that it achieves very high accuracies and significantly outperforms a naive benchmark

Ascending Auctions

A key question of auction design is whether to use an ascending- bid or a sealed-bid format. The critical distinction between formats is that an ascending auction provides the bidders with information through the process of bidding. This information is a two-edged sword. It may stimulate competition by creating a reliable process of price discovery, by reducing the winner's curse, and by allowing efficient aggregations of items. Alternatively, the information may be used by bidders to establish and enforce collusive outcomes. Ex ante asymmetries and weak competition favor a sealed-bid design. In other cases, an ascending auction is likely to perform better in efficiency and revenue terms. Moreover, information in an ascending auction can be tailored to limit collusion.Auctions; Multiple-Item Auctions, Spectrum Auctions

Distributed Spectral Efficiency Maximization in Full-Duplex Cellular Networks

Three-node full-duplex is a promising new transmission mode between a full-duplex capable wireless node and two other wireless nodes that use half-duplex transmission and reception respectively. Although three-node full-duplex transmissions can increase the spectral efficiency without requiring full-duplex capability of user devices, inter-node interference - in addition to the inherent self-interference - can severely degrade the performance. Therefore, as methods that provide effective self-interference mitigation evolve, the management of inter-node interference is becoming increasingly important. This paper considers a cellular system in which a full-duplex capable base station serves a set of half-duplex capable users. As the spectral efficiencies achieved by the uplink and downlink transmissions are inherently intertwined, the objective is to device channel assignment and power control algorithms that maximize the weighted sum of the uplink-downlink transmissions. To this end a distributed auction based channel assignment algorithm is proposed, in which the scheduled uplink users and the base station jointly determine the set of downlink users for full-duplex transmission. Realistic system simulations indicate that the spectral efficiency can be up to 89% better than using the traditional half-duplex mode. Furthermore, when the self-interference cancelling level is high, the impact of the user-to-user interference is severe unless properly managed.Comment: 7 pages, 3 figures, accepted in IEEE ICC 2016 - Workshop on Novel Medium Access and Resource Allocation for 5G Network