Topic
Dynamic pricing
About: Dynamic pricing is a research topic. Over the lifetime, 4144 publications have been published within this topic receiving 91390 citations. The topic is also known as: surge pricing & demand pricing.
Papers published on a yearly basis
Papers
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TL;DR: An integrated planning model was developed to investigate the techno-economic performances of a high renewable energy-based standalone microgrid, and the combination of photovoltaic, wind turbine and pumped thermal energy storage is found to be the most techno-economically efficient system configuration for the considered microgrid.
93 citations
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27 May 2018TL;DR: This paper formally defines the Global Dynamic Pricing problem in spatial crowdsourcing, and proposes a MAtching-based Pricing Strategy (MAPS) with guaranteed bound; extensive experiments conducted on the synthetic and real datasets demonstrate the effectiveness of MAPS.
Abstract: In spatial crowdsourcing, requesters submit their task-related locations and increase the demand of a local area. The platform prices these tasks and assigns spatial workers to serve if the prices are accepted by requesters. There exist mature pricing strategies which specialize in tackling the imbalance between supply and demand in a local market. However, in global optimization, the platform should consider the mobility of workers; that is, any single worker can be the potential supply for several areas, while it can only be the true supply of one area when assigned by the platform. The hardness lies in the uncertainty of the true supply of each area, hence the existing pricing strategies do not work. In the paper, we formally define this Global Dynamic Pricing(GDP) problem in spatial crowdsourcing. And since the objective is concerned with how the platform matches the supply to areas, we let the matching algorithm guide us how to price. We propose a MAtching-based Pricing Strategy (MAPS) with guaranteed bound. Extensive experiments conducted on the synthetic and real datasets demonstrate the effectiveness of MAPS.
92 citations
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01 May 1998TL;DR: A system for controlling the activities of mobile agents that uses electronic cash, a banking system, and a set of resource managers is discussed, and protocols for transactions between agents are described.
Abstract: Mobile agents are programs that can migrate from machine to machine in a heterogeneous, partially disconnected network. As mobile agents move across a network, they consume resources. We discuss a system for controlling the activities of mobile agents that uses electronic cash, a banking system, and a set of resource managers. We describe protocols for transactions between agents. We present fixed-pricing and dynamic-pricing policies for resources. We focus on and analyze the sealed-bid second-price auction as a mechanism for dynamic pricing.
92 citations
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IBM1
TL;DR: A Mixed-Integer Non-linear Programming (MINLP) formulation of the optimal pump scheduling problem is presented and a Lagrangian decomposition approach is presented that exploits the structure of the problem leading to smaller problems that are solved independently.
92 citations
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01 Dec 2012TL;DR: Using a general model for consumer preferences to capture the effect of consumption deferral on utility, it is proved the existence of a competitive equilibrium and provided a characterization of deadline-differentiated prices yielding such an equilibrium.
Abstract: As the penetration of wind and solar energy into the electric grid continues to grow, there will be an increasing need to evolve demand-side solutions capable of compensating the inherent variability in power supply from such renewable resources. Today, demand is largely treated as inelastic. However, the power requirements of many commercial and residential loads are such that a fraction of power demand at any given moment is inherently deferrable in time subject to a deadline constraint on the total energy supplied. Examples include thermal systems such as refrigerators, water heaters, HVAC systems, data centers, and, assuming mass adoption of plug-in electric vehicles, batteries. In this paper, we discuss some limitations of dynamic pricing mechanisms (e.g., real-time pricing) as a means of inducing demand response and suggest a novel forward contracting mechanism for deadline-differentiated deferrable energy contracts to alleviate some of these difficulties. Essentially, consumers who consent to deferral of their consumption in time - subject to a pre-specified deadline - will receive a discounted per-unit price for said energy. In this way, the supplier is capable of extracting flexibility in the delivery of energy to participating deferrable loads, while consumers receive a discount on energy with an associated deadline guarantee on delivery. The supply side is modeled as random to capture variability in renewable power supply. Using a general model for consumer preferences to capture the effect of consumption deferral on utility, we prove the existence of a competitive equilibrium and provide a characterization of deadline-differentiated prices yielding such an equilibrium. We also discuss provably optimal online scheduling policies to dynamically allocate the variable supply to a bundle of deadline-differentiated energy tasks.
92 citations