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Auctions to gas transmission access: The British experience
Auctions to gas transmission access: The British experienc
Auctions to gas transmission access: The British experience
When access to monopoly owned networks is constrained auctioning access rights can increase the efficiency of allocations relative to negotiation and grandfathering when there is sufficient competition among network users. Historically, access rights to entry capacity on the British gas network were granted by the monopoly network owner via negotiation; rights were later based on regulated tariffs with an increasing reliance on market based constraint resolution by the system operator. In 1999 an auction mechanism for allocating rights was introduced. Comparing the different allocation methods we conclude that where there is competition at entry terminals auctions have been successful with respect to anticipating spot prices, capturing producer rents and reducing the costs of alleviating network constraints. Moreover, auctions are more transparent and better facilitate entry.gas, network, access, auction, regulation
Truthful Matching with Online Items and Offline Agents
We study truthful mechanisms for welfare maximization in online bipartite matching. In our (multi-parameter) setting, every buyer is associated with a (possibly private) desired set of items, and has a private value for being assigned an item in her desired set. Unlike most online matching settings, where agents arrive online, in our setting the items arrive online in an adversarial order while the buyers are present for the entire duration of the process. This poses a significant challenge to the design of truthful mechanisms, due to the ability of buyers to strategize over future rounds. We provide an almost full picture of the competitive ratios in different scenarios, including myopic vs. non-myopic agents, tardy vs. prompt payments, and private vs. public desired sets. Among other results, we identify the frontier up to which the celebrated e/(e-1) competitive ratio for the vertex-weighted online matching of Karp, Vazirani and Vazirani extends to truthful agents and online items
Does Resorting to Online Dispute Resolution Promote Agreements? Experimental Evidence
This paper presents an experiment performed to test the properties of an innovativebargaining mechanism (called automated negotiation) used to resolve disputes arising fromInternet-based transactions. The main result shows that the settlement rule tends to chillbargaining as it creates incentives for individuals to misrepresent their true valuations, whichimplies that automated negotiation is not able to promote agreements. However, this perverseeffect depends strongly on the conflict situation. When the threat that a disagreement occurs ismore credible, the strategic effect is reduced since defendants are more interested inmaximizing the efficiency of a settlement than their own expected profit. The implications ofthese results are then used to discuss the potential role of public regulation and reputationmechanisms in Cyberspace: Online Dispute Resolution, Electronic Commerce, Bargaining, Arbitration,Experimental Economics
Auctions to gas transmission access : the British experience
When access to monopoly owned networks is constrained auctioning access rights can increase the efficiency of allocations relative to negotiation and grandfathering when there is sufficient competition among network users. Historically, access rights to entry capacity on the British gas network were granted by the monopoly network owner via negotiation; rights were later based on regulated tariffs with an increasing reliance on market based constraint resolution by the system operator. In 1999 an auction mechanism for allocating rights was introduced. Comparing the different allocation methods we conclude that where there is competition at entry terminals auctions have been successful with respect to anticipating spot prices, capturing producer rents and reducing the costs of alleviating network constraints. Moreover, auctions are more transparent and better facilitate entry.Supported by the MIT Center for Energy and Environmental Policy Research
Integration of Blockchain and Auction Models: A Survey, Some Applications, and Challenges
In recent years, blockchain has gained widespread attention as an emerging
technology for decentralization, transparency, and immutability in advancing
online activities over public networks. As an essential market process,
auctions have been well studied and applied in many business fields due to
their efficiency and contributions to fair trade. Complementary features
between blockchain and auction models trigger a great potential for research
and innovation. On the one hand, the decentralized nature of blockchain can
provide a trustworthy, secure, and cost-effective mechanism to manage the
auction process; on the other hand, auction models can be utilized to design
incentive and consensus protocols in blockchain architectures. These
opportunities have attracted enormous research and innovation activities in
both academia and industry; however, there is a lack of an in-depth review of
existing solutions and achievements. In this paper, we conduct a comprehensive
state-of-the-art survey of these two research topics. We review the existing
solutions for integrating blockchain and auction models, with some
application-oriented taxonomies generated. Additionally, we highlight some open
research challenges and future directions towards integrated blockchain-auction
models
Carbon Free Boston: Energy Technical Report
Part of a series of reports that includes:
Carbon Free Boston: Summary Report;
Carbon Free Boston: Social Equity Report;
Carbon Free Boston: Technical Summary;
Carbon Free Boston: Buildings Technical Report;
Carbon Free Boston: Transportation Technical Report;
Carbon Free Boston: Waste Technical Report;
Carbon Free Boston: Offsets Technical Report;
Available at http://sites.bu.edu/cfb/INTRODUCTION:
The adoption of clean energy in Bostonâs buildings and transportation systems will produce sweeping
changes in the quantity and composition of the cityâs demand for fuel and electricity. The demand for
electricity is expected to increase by 2050, while the demand for petroleum-based liquid fuels and
natural gas within the city is projected to decline significantly. The city must meet future energy demand
with clean energy sources in order to meet its carbon mitigation targets. That clean energy must be
procured in a way that supports the Cityâs goals for economic development, social equity, environmental
sustainability, and overall quality of life. This chapter examines the strategies to accomplish these goals.
Improved energy efficiency, district energy, and in-boundary generation of clean energy (rooftop PV)
will reduce net electric power and natural gas demand substantially, but these measures will not
eliminate the need for electricity and gas (or its replacement fuel) delivered into Boston. Broadly
speaking, to achieve carbon neutrality by 2050, the city must therefore (1) reduce its use of fossil fuels
to heat and cool buildings through cost-effective energy efficiency measures and electrification of
building thermal services where feasible; and (2) over time, increase the amount of carbon-free
electricity delivered to the city. Reducing energy demand though cost effective energy conservation
measures will be necessary to reduce the challenges associated with expanding the electricity delivery
system and sustainably sourcing renewable fuels.Published versio
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