Efficient market-clearing prices in markets with nonconvexities

DOI10.1016/j.ejor.2003.12.011zbMath1132.91436OpenAlexW2136786419MaRDI QIDQ707126

Benjamin F. Hobbs, William R. jun. Stewart, Richard P. O'Neill, Paul M. Sotkiewicz, Michael H. Rothkopf

Publication date: 9 February 2005

Published in: European Journal of Operational Research (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.ejor.2003.12.011

zbMATH Keywords

Economics Equilibrium pricing MIP applications MIP models of markets

Mathematics Subject Classification ID

Microeconomic theory (price theory and economic markets) (91B24) Auctions, bargaining, bidding and selling, and other market models (91B26)

Related Items

Nonconvex equilibrium models for energy markets: exploiting price information to determine the existence of an equilibrium ⋮ A note on solving discretely-constrained Nash-Cournot games via complementarity ⋮ Solving discretely-constrained Nash-Cournot games with an application to power markets ⋮ Computationally efficient MIP formulation and algorithms for European day-ahead electricity market auctions ⋮ On the determination of European day ahead electricity prices: the Turkish case ⋮ Pricing of fluctuations in electricity markets ⋮ National-strategic investment in European power transmission capacity ⋮ Solving discretely constrained mixed complementarity problems using a median function ⋮ Exploiting complete linear descriptions for decentralized power market problems with integralities ⋮ Electricity market near-equilibrium under locational marginal pricing and minimum profit conditions ⋮ A MIP framework for non-convex uniform price day-ahead electricity auctions ⋮ A model and approach to the challenge posed by optimal power systems planning ⋮ Solving binary-constrained mixed complementarity problems using continuous reformulations ⋮ Robust market equilibria under uncertain cost ⋮ Value at risk approach to producer's best response in an electricity market with uncertain demand ⋮ Long-run optimal pricing in electricity markets with non-convex costs ⋮ Moving from linear to conic markets for electricity ⋮ A study of auction mechanisms for multilateral procurement based on subgradient and bundle methods ⋮ A Stochastic Electricity Market Clearing Formulation with Consistent Pricing Properties ⋮ Optimal Pricing in Markets with Nonconvex Costs ⋮ Equilibrium prices supported by dual price functions in markets with non-convexities ⋮ Modelling start-up costs of multiple technologies in electricity markets ⋮ Integer programming as projection ⋮ Alternative models for markets with nonconvexities ⋮ An exact solution method for binary equilibrium problems with compensation and the power market uplift problem ⋮ Combinatorial auctions ⋮ Mathematical model for the unit commitment problem in the Russian competitive electricity market ⋮ Strict linear prices in non-convex European day-ahead electricity markets ⋮ Computer science and decision theory ⋮ Market-based coordination of integrated electricity and natural gas systems under uncertain supply ⋮ Semi-Lagrangean approach for price discovery in markets with non-convexities ⋮ Core and pricing equilibria in combinatorial exchanges ⋮ Investment effects of pricing schemes for non-convex markets ⋮ Bilevel programming for price-based electricity auctions: a revenue-constrained case ⋮ Block order restrictions in combinatorial electric energy auctions ⋮ Average shadow price and equilibrium price: a case study of tradable pollution permit markets ⋮ A new pricing scheme for a multi-period pool-based electricity auction ⋮ Fast computation of global solutions to the single-period unit commitment problem ⋮ Mixed integer parametric bilevel programming for optimal strategic bidding of energy producers in day-ahead electricity markets with indivisibilities ⋮ Multi-period near-equilibrium in a pool-based electricity market including on/off decisions ⋮ Extensions for Benders cuts and new valid inequalities for solving the European day-ahead electricity market clearing problem efficiently

Cites Work