A compensation-based pricing scheme in marketswith non-convexities

A compensation-based pricing scheme is a market clearing mechanism that may be applied when a uniform, linear pricing scheme cannot support equilibrium allocations in the auction markets. We analyze extensions of our previously proposed pricing scheme [14] to include various possible representations of bids that reflect some non-convex costs and constraints. We conclude with a discussion on directions for future research.

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Year of publication:	2009
Authors:	Zoltowska, Izabela ; Toczylowski, Eugeniusz
Published in:	Operations Research and Decisions. - Wydział Informatyki i Zarządzania. - Vol. 4.2009, p. 125-140
Publisher:	Wydział Informatyki i Zarządzania
Subject:	auction design \| electricity market \| non-convex bids \| minimum profit condition \| unit commitment constraints

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008777233