5 research outputs found
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Online Algorithms for Dynamic Matching Markets in Power Distribution Systems
This letter proposes online algorithms for dynamic matching markets in power distribution systems. These algorithms address the problem of matching flexible loads with renewable generation, with the objective of maximizing social welfare of the exchange in the system. More specifically, two online matching algorithms are proposed for two generation-load scenarios: (i) when the mean of renewable generation is greater than the mean of the flexible load, and (ii) when the condition (i) is reversed. With the intuition that the performance of such algorithms degrades with increasing randomness of the supply and demand, two properties are proposed for assessing the performance of the algorithms. First property is convergence to optimality (CO) as the underlying randomness of renewable generation and customer loads goes to zero. The second property is deviation from optimality, which is measured as a function of the standard deviation of the underlying randomness of renewable generation and customer loads. The algorithm proposed for the first scenario is shown to satisfy CO and a deviation from optimality that varies linearly with the variation in the standard deviation. We then show that the algorithm proposed for the second scenario satisfies CO and a deviation from optimality that varies linearly with the variation in standard deviation plus an offset under certain condition
Selling Demand Response Using Options
Wholesale electricity markets in many jurisdictions use a two-settlement structure: a day-ahead market for bulk power transactions and a real-time market for fine-grain supply-demand balancing. This paper explores trading demand response assets within this two-settlement market structure. We consider two approaches for trading demand response assets: (a) an intermediate spot market with contingent pricing, and (b) an over-the-counter options contract. In the first case, we characterize the competitive equilibrium of the spot market, and show that it is socially optimal. Economic orthodoxy advocates spot markets, but these require expensive infrastructure and regulatory blessing. In the second case, we characterize competitive equilibria and compare its efficiency with the idealized spot market. Options contract are private bilateral over-the-counter transactions and do not require regulatory approval. We show that the optimal social welfare is, in general, not supported. We then design optimal option prices that minimize the social welfare gap. This optimal design serves to approximate the ideal spot market for demand response using options with modest loss of efficiency. Our results are validated through numerical simulations
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Scene-Graph Augmented Data-Driven Risk Assessment of Autonomous Vehicle Decisions
There is considerable evidence that evaluating the subjective risk level of driving decisions can improve the safety of Autonomous Driving Systems (ADS) in both typical and complex driving scenarios. In this paper, we propose a novel data-driven approach that uses scene-graphs as intermediate representations for modeling the subjective risk of driving maneuvers. Our approach includes a Multi-Relation Graph Convolution Network, a Long-Short Term Memory Network, and attention layers. To train our model, we formulate subjective risk assessment as a supervised scene classification problem. We evaluate our model on both synthetic lane-changing datasets and real-driving datasets with various driving maneuvers. We show that our approach achieves a higher classification accuracy than the state-of-the-art approach on both large (96.4% vs. 91.2%) and small (91.8% vs. 71.2%) lane-changing synthesized datasets, illustrating that our approach can learn effectively even from small datasets. We also show that our model trained on a lane-changing synthesized dataset achieves an average accuracy of 87.8% when tested on a real-driving lane-changing dataset. In comparison, the state-of-the-art model trained on the same synthesized dataset only achieved 70.3% accuracy when tested on the real-driving dataset, showing that our approach can transfer knowledge more effectively. Moreover, we demonstrate that the addition of spatial and temporal attention layers improves our model's performance and explainability. Finally, our results illustrate that our model can assess the risk of various driving maneuvers more accurately than the state-of-the-art model (86.5% vs. 58.4%, respectively)