The Experts below are selected from a list of 55752 Experts worldwide ranked by ideXlab platform

J Broeckhove - One of the best experts on this subject based on the ideXlab platform.

  • pricing substitutable grid resources using Commodity Market models
    Grid Economics and Business Models, 2006
    Co-Authors: Kurt Vanmechelen, Gunther Stuer, J Broeckhove
    Abstract:

    Enhancing Grid technology with Market models for trading resources, is a promising step for Grids to become open systems that allow for user-centric service provisioning. This paper introduces a Market model for trading substitutable Grid resources in a Commodity Market. We develop a pricing scheme and evaluate the Market mechanisms through simulation. We show that the resource Market achieves price stability and correctness, allocative eciency and fairness.

  • a Commodity Market algorithm for pricing substitutable grid resources
    Proceedings of the Joint Smart Grid Technologies (SGT) and Engineering Emergence for Automatic Systems (EEAS) Workshop 2006 June 16th Dublin Ireland E, 2006
    Co-Authors: Gunther Stuer, Kurt Vanmechelen, J Broeckhove
    Abstract:

    A crucial goal for future Grid systems is to strive towards user-centric service provisioning. A way to achieve this is through the use of economics-based resource management. Currently, several models exist from among which auction- and Commodity-based models are the most popular. This contribution will focus on the latter, and in particular on Commodity Markets, where the value of a Grid resource is determined by supply and demand. We propose some refinements to the application of Smale's method for finding price equilibria in such a Grid Market. We also extend the approach to substitutable goods. That is, we introduce 'slow' and 'fast' CPUs, two categories of the same type of good that are priced separately, but are strongly coupled with potentially strong shifts in demand. We show that Smale's method can be adapted to handle this type of Grid resources Market, and that price stability, allocative efficiency, and fairness are realized.

Ehud I Ronn - One of the best experts on this subject based on the ideXlab platform.

  • estimating the Commodity Market price of risk for energy prices
    Energy Economics, 2008
    Co-Authors: Sergey P Kolos, Ehud I Ronn
    Abstract:

    The purpose of this paper is to estimate the “Market price of risk” (MPR) for energy commodities, the ratio of expected return to standard deviation. The MPR sign determines whether energy forward prices are upward- or downward-biased predictors of expected spot prices. We estimate MPRs using spot and futures prices, while accounting for the Samuelson effect. We find long-term MPRs generally positive and short-term negative, consistent with positive energy betas and hedging, respectively. In spot electricity Markets, MPRs in Day-Ahead Prices agree with short-dated futures. Our results relate risk premia to informed hedging decisions, and futures prices to forecast/expected prices.

Kurt Vanmechelen - One of the best experts on this subject based on the ideXlab platform.

  • pricing substitutable grid resources using Commodity Market models
    Grid Economics and Business Models, 2006
    Co-Authors: Kurt Vanmechelen, Gunther Stuer, J Broeckhove
    Abstract:

    Enhancing Grid technology with Market models for trading resources, is a promising step for Grids to become open systems that allow for user-centric service provisioning. This paper introduces a Market model for trading substitutable Grid resources in a Commodity Market. We develop a pricing scheme and evaluate the Market mechanisms through simulation. We show that the resource Market achieves price stability and correctness, allocative eciency and fairness.

  • a Commodity Market algorithm for pricing substitutable grid resources
    Proceedings of the Joint Smart Grid Technologies (SGT) and Engineering Emergence for Automatic Systems (EEAS) Workshop 2006 June 16th Dublin Ireland E, 2006
    Co-Authors: Gunther Stuer, Kurt Vanmechelen, J Broeckhove
    Abstract:

    A crucial goal for future Grid systems is to strive towards user-centric service provisioning. A way to achieve this is through the use of economics-based resource management. Currently, several models exist from among which auction- and Commodity-based models are the most popular. This contribution will focus on the latter, and in particular on Commodity Markets, where the value of a Grid resource is determined by supply and demand. We propose some refinements to the application of Smale's method for finding price equilibria in such a Grid Market. We also extend the approach to substitutable goods. That is, we introduce 'slow' and 'fast' CPUs, two categories of the same type of good that are priced separately, but are strongly coupled with potentially strong shifts in demand. We show that Smale's method can be adapted to handle this type of Grid resources Market, and that price stability, allocative efficiency, and fairness are realized.

Gunther Stuer - One of the best experts on this subject based on the ideXlab platform.

  • pricing substitutable grid resources using Commodity Market models
    Grid Economics and Business Models, 2006
    Co-Authors: Kurt Vanmechelen, Gunther Stuer, J Broeckhove
    Abstract:

    Enhancing Grid technology with Market models for trading resources, is a promising step for Grids to become open systems that allow for user-centric service provisioning. This paper introduces a Market model for trading substitutable Grid resources in a Commodity Market. We develop a pricing scheme and evaluate the Market mechanisms through simulation. We show that the resource Market achieves price stability and correctness, allocative eciency and fairness.

  • a Commodity Market algorithm for pricing substitutable grid resources
    Proceedings of the Joint Smart Grid Technologies (SGT) and Engineering Emergence for Automatic Systems (EEAS) Workshop 2006 June 16th Dublin Ireland E, 2006
    Co-Authors: Gunther Stuer, Kurt Vanmechelen, J Broeckhove
    Abstract:

    A crucial goal for future Grid systems is to strive towards user-centric service provisioning. A way to achieve this is through the use of economics-based resource management. Currently, several models exist from among which auction- and Commodity-based models are the most popular. This contribution will focus on the latter, and in particular on Commodity Markets, where the value of a Grid resource is determined by supply and demand. We propose some refinements to the application of Smale's method for finding price equilibria in such a Grid Market. We also extend the approach to substitutable goods. That is, we introduce 'slow' and 'fast' CPUs, two categories of the same type of good that are priced separately, but are strongly coupled with potentially strong shifts in demand. We show that Smale's method can be adapted to handle this type of Grid resources Market, and that price stability, allocative efficiency, and fairness are realized.

Sergey P Kolos - One of the best experts on this subject based on the ideXlab platform.

  • estimating the Commodity Market price of risk for energy prices
    Energy Economics, 2008
    Co-Authors: Sergey P Kolos, Ehud I Ronn
    Abstract:

    The purpose of this paper is to estimate the “Market price of risk” (MPR) for energy commodities, the ratio of expected return to standard deviation. The MPR sign determines whether energy forward prices are upward- or downward-biased predictors of expected spot prices. We estimate MPRs using spot and futures prices, while accounting for the Samuelson effect. We find long-term MPRs generally positive and short-term negative, consistent with positive energy betas and hedging, respectively. In spot electricity Markets, MPRs in Day-Ahead Prices agree with short-dated futures. Our results relate risk premia to informed hedging decisions, and futures prices to forecast/expected prices.