The Experts below are selected from a list of 36819 Experts worldwide ranked by ideXlab platform
Jianwei Huang - One of the best experts on this subject based on the ideXlab platform.
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Hybrid Spectrum and Information Market Model
Wireless Networks, 2016Co-Authors: Yuan Luo, Lin Gao, Jianwei HuangAbstract:In this chapter, we study the issue of Hybrid spectrum and information Market, where the white space database serves as both a spectrum Market platform (for the trading of registered TV channels) and an information Market platform (for the trading of advanced information regarding unregistered TV channel). This Market characterizes the practical phenomenon that both the registered TV channels and unregistered TV channels can co-exist at the same location and different WSDs may prefer different types of spectrum. Compared with the pure information trading Market possesses the positive network externality, we show that such a Hybrid Market possesses both the positive and negative network externalities. We use a three-stage hierarchical model to analyze the interaction among the white space database, the TV licensee, and WSDs. Specifically, we characterize the negotiation between the white space database and the TV licensee at Stage I, the white space database’s and the TV licensee’s competition at Stage II, and the end-users’ subscription behavior at Stage III. We show that the TV licensee can never get a Market share larger than half in this Hybrid Market. We further show that such an Hybrid Market can improve the aggregate profit of the white space database and the TV licensee through proper bargaining.
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Combining Spot and Futures Markets: A Hybrid Market Approach to Dynamic Spectrum Access
Operations Research, 2016Co-Authors: Lin Gao, Biying Shou, Ying-ju Chen, Jianwei HuangAbstract:Dynamic spectrum access is a new paradigm of secondary spectrum utilization and sharing. It allows unlicensed secondary users (SUs) to exploit the opportunistically underutilized licensed spectrum. Market mechanism is a widely used promising means to regulate the consuming behaviours of users and, hence, achieve the efficient allocation and consumption of limited resources. In this paper, we propose and study a Hybrid secondary spectrum Market consisting of both the futures Market and the spot Market, in which SUs (buyers) purchase underutilized licensed spectrum from a spectrum regulator (SR), either through predefined contracts via the futures Market, or through spot transactions via the spot Market. We focus on the optimal spectrum allocation among SUs in an exogenous Hybrid Market that maximizes the secondary spectrum utilization efficiency. The problem is challenging because of the stochasticity and asymmetry of network information. To solve this problem, we first derive an off-line optimal allocatio...
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hysim a Hybrid spectrum and information Market for tv white space networks
International Conference on Computer Communications, 2015Co-Authors: Yuan Luo, Lin Gao, Jianwei HuangAbstract:We propose a Hybrid spectrum and information Market for database-assisted TV white space networks, where a geo-location white space database serves as the platform for both the spectrum Market and the information Market. We study the interactions among the database operator, the spectrum licensee, and unlicensed users systematically, using a three-layer hierarchical model. In Layer I, the licensee negotiates with the database regarding the commission fee of using the spectrum Market platform. In Layer II, the database and the licensee compete for selling information or channels to unlicensed users. In Layer III, unlicensed users determine whether to buy the exclusive usage right of licensed channels from the licensee, or to buy the information regarding unlicensed channels from the database. Analyzing such a three-layer model is challenging, due to the coexistence of both positive and negative network externalities in the information Market. We characterize the Market equilibrium systematically, and analyze how the network externalities affect the equilibrium behaviours of all parties involved. Our numerical results show that the proposed Hybrid Market can improve the network profit more than 80%, compared with a pure information Market. Meanwhile, the achieved network profit is very close to the coordinated benchmark (e.g., the gap is less than 4%).
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Combining Spot and Futures Markets: A Hybrid Market Approach to Dynamic Spectrum Access
arXiv: Networking and Internet Architecture, 2014Co-Authors: Lin Gao, Biying Shou, Ying-ju Chen, Jianwei HuangAbstract:Dynamic spectrum access (DSA) is a new paradigm of secondary spectrum utilization and sharing. It allows unlicensed secondary users (SUs) to exploit the under-utilized radio spectrum licensed to primary users opportunistically. Market mechanism is a widely-used promising means to regulate the consuming behaviours of users and, hence, achieve the efficient allocation and consumption of limited resources. In this paper, we propose and study a Hybrid secondary spectrum Market consisting of both the futures Market and the spot Market, in which SUs (buyers) purchase under-utilized licensed spectrum from a primary spectrum regulator (PR), either through predefined contracts via the futures Market, or through spot transactions via the spot Market. We focus on the optimal spectrum allocation among SUs in an exogenous Hybrid Market that maximizes the secondary spectrum utilization efficiency. The problem is challenging due to the stochasticity and asymmetry of network information. To solve this problem, we first derive an o?ff-line optimal allocation policy that maximizes the ex-ante expected spectrum utilization efficiency based on the stochastic distribution of network information. We then propose an on-line VCG auction that determines the real-time allocation and pricing of every spectrum based on the realized network information and the derived allocation policy. We further show that with the spatial frequency reuse, the proposed VCG auction is NP-hard; hence, it is not suitable for on-line implementation, especially in a large-scale Market. To this end, we propose a heuristics approach based on an on-line VCG-like mechanism with polynomial-time complexity, and further characterize the corresponding performance loss bound analytically. We finally provide extensive numerical results to evaluate the performance of the proposed solutions.
Pamela C. Moulton - One of the best experts on this subject based on the ideXlab platform.
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automation speed and stock Market quality the nyse s Hybrid
Journal of Financial Markets, 2011Co-Authors: Terrence Hendershott, Pamela C. MoultonAbstract:Automation and trading speed are increasingly important aspects of competition among financial Markets. Yet we know little about how changing a Market's automation and speed affects the cost of immediacy and price discovery, two key dimensions of Market quality. At the end of 2006 the New York Stock Exchange introduced its Hybrid Market, increasing automation and reducing the execution time for Market orders from 10 seconds to less than one second. We find that the change raises the cost of immediacy (bid-ask spreads) because of increased adverse selection and reduces the noise in prices, making prices more efficient.
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Automation, Speed, and Stock Market Quality: The NYSE’s Hybrid
SSRN Electronic Journal, 2011Co-Authors: Terrence Hendershott, Pamela C. MoultonAbstract:Automation and trading speed are increasingly important aspects of competition among financial Markets. Yet we know little about how changing a Market’s automation and speed affects the cost of immediacy and price discovery, two key dimensions of Market quality. At the end of 2006 the New York Stock Exchange introduced its Hybrid Market, increasing automation and reducing the execution time for Market orders from 10 seconds to less than one second. We find that the change raises the cost of immediacy (bid-ask spreads) because of increased adverse selection and reduces the noise in prices, making prices more efficient.
Kenneth S Kurani - One of the best experts on this subject based on the ideXlab platform.
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Interpersonal influence in the early plug-in Hybrid Market: Observing social interactions with an exploratory multi-method approach
Transportation Research Part D-transport and Environment, 2011Co-Authors: Jonn Axsen, Kenneth S KuraniAbstract:Abstract We explore the role of interpersonal influence in car buyer’s perceptions of plug-in Hybrid vehicles. The context is a PHEV demonstration project at the University of California, Davis, from which individuals from the social networks of 10 households participated in a four to six-week trial. Social interactions were observed between participants and members of their social networks, i.e., alters. The work included social network mapping, a social episode diary, and ranking of experience influences. It is found that interpersonal influence plays an important role in participants’ assessment of plug-in Hybrid vehicles technology and that interactions between participants and an alter are more likely to influence the participant’s assessment if: societal aspects of the plug-in Hybrid vehicles are addressed, the alter has relatively more alternative-fuel expertise, or the participant and alter are very close socially.
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Interpersonal Influence in the Early Plug-in Hybrid Market: Observing Social Interactions with Exploratory Multimethod Approach
2011Co-Authors: Jonn Axsen, Kenneth S KuraniAbstract:We explore the role of interpersonal influence in car buyer’s perceptions of alternative-fuel vehicles. The context is a plug-in Hybrid vehicle (PHEV) demonstration project at the University of California, Davis, from which we sample 10 households completing a four to six-week PHEV trial. Our exploratory, multi-method research design sought to observe social interactions and processes of interpersonal influence within the social networks of each participating household. Research instruments include a social network mapping exercise, a social episode diary, an experience influence ranking exercise, on-line questionnaires, and household interviews. We derive three conclusions. First, social proximity proved a useful basis for mapping car buyers’ social networks, facilitating the collection of influential social interaction data. Second, social influence plays an important role in trial participants’ assessment of PHEV technology. Third, a given social interaction is more likely to be influential if: i) it relates to societal aspects of the vehicle technology, ii) there is a difference in alternative fuel experience or expertise among participants in the interaction, or iii) the participants are very close socially. Our conclusions suggest the value of further exploring processes of social influence in different transportation technology contexts, and in different and larger samples.
Ashwani Kumar - One of the best experts on this subject based on the ideXlab platform.
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congestion management with generic load model in Hybrid electricity Markets with facts devices
International Journal of Electrical Power & Energy Systems, 2014Co-Authors: Ashwani Kumar, Ram Kumar MittapalliAbstract:Abstract The load variations during the entire day specially during the peak hours have substantial impact on the loading pattern of the transmission system. The voltage profile become poor during such situation of peak loading of the network and can lead to congestion during such events. This paper attempts congestion management considering the impact of constant impedance, current, and power (ZIP) load model along with the load variation pattern in a day-a-head Hybrid electricity Market. The main contribution of the proposed work is: (i) Optimal rescheduling based congestion management for a Hybrid Market model with three bid offer from generators, (ii) study of the impact of ZIP load model and load variations on rescheduling and congestion cost, (iii) impact of third generation FACTS devices on congestion management, (iv) comparison of results obtained for Hybrid Market model without and with ZIP load model. The generators offer three block bid structure to the ISO in a day-a-head Market for congestion management. The base case economic load dispatch has been obtained for generators and is taken as base case generation output data during the congestion management to obtain new generation schedule. The three block bid structure submitted to the ISO has been modeled as a linear bid curve which is a function of increment/decrement (inc./dec.) of generation within the upper and lower bounds offered for congestion management. The results have been obtained for IEEE 24 bus test systems.
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Comparison of Sen Transformer and UPFC for congestion management in Hybrid electricity Markets
International Journal of Electrical Power & Energy Systems, 2013Co-Authors: Ashwani Kumar, Charan SekharAbstract:Abstract Congestion management (CM) is one of the most important and challenging tasks of the Independent System Operator (ISO) in the deregulated environment. Recently, Sen Transformer (ST) has emerged as an important power flow control device which has the capability of power flow control over a wide range like UPFC. This device with a conventional transformer and tap changers has the capability of bidirectional control of active and reactive power and can play a very important role in future Markets for mitigating the congestion problems. In this paper, the capability of ST has been utilized to manage transmission line congestion for Hybrid based electricity Market model. The main contribution of the paper is: (i) to develop an optimal rescheduling of generators strategy for real time congestion management and impact of ST for congestion management, (ii) the comparison of ST with unified power flow controller (UPFC) for congestion management, (iii) the secure bilateral transactions determination in a Hybrid Market model and congestion management with both power flow controllers in combined pool and bilateral Market model. The optimal location of ST and UPFC has been obtained solving mixed integer non-linear programming model of congestion management. The proposed model has been applied for results on IEEE 24-bus RTS test system.
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Congestion Management in Hybrid Electricity Markets with FACTS Devices with Loadability Limits
2012Co-Authors: Charan Sekhar, Ashwani Kumar, Accepted FebAbstract:Article history: th , 2012 Congestion management (CM) is one of the most important challenging tasks of the Independent System Operator (ISO) in the deregulated environment. In this paper, generators' rescheduling based CM approach to manage transmission line congestion considering loadability limit has been presented for Hybrid based electricity Market model. The main contribution of the paper is (i) to obtain secure transactions for Hybrid Market model, (ii) optimal rescheduling of generators with loadability limits taken into account with secure transactions, (iii) and impact of FACTS devices on transmission line congestion management. The ISO ensures secure bilateral transactions in a Hybrid Market model and CM is managed with minimum preferred schedule to obtain minimum congestion cost. The results have been obtained for IEEE 24 bus test system. Keyword: Generator re-dispatch Congestion management Pool and Hybrid electricity Market Bid function Loadability limit
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Pattern of secure bilateral transactions ensuring power economic dispatch in Hybrid electricity Markets
Applied Energy, 2008Co-Authors: Ashwani Kumar, Wenzhong GaoAbstract:This paper proposes a new method for secure bilateral transactions determination ensuring economic power dispatch of the generators using new AC distribution factors for pool and bilateral coordinated Markets. The new optimization problem considers simultaneous minimization of deviations from scheduled transactions and fuel cost of the generators in the network. The fuel cost has been obtained for Hybrid Market model and impact of different percentage of bilateral demand on fuel cost, generation share, and pattern of transactions has also been determined. The impact of optimally located unified power flow controller (UPFC) on the bilateral transactions, fuel cost and generation pattern has also been studied. The results have also been obtained for pool Market model. The proposed technique has been applied on IEEE 24-bus reliability test system (RTS).
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DC Model of UPFC and its Use in Competitive Electricity Market for Loadability Enhancement
2008Co-Authors: Ashwani Kumar, Saurabh ChananaAbstract:This paper presents a mixed integer programming based approach for optimal placement of DC model of Unified Power Flow Controller in the deregulated electricity environment. The method accounts for DC load flow equations taking constraints on generation, line flow, and UPFC parameters. The security of transactions has become important issue to reserve the available transfer capability. Therefore, it has become essential to determine secure transactions occurring in the new environment. The secure transactions have been determined in a Hybrid Market model and system loadability has been determined for a pool model and Hybrid model. The proposed technique has been demonstrated on IEEE 24 bus reliability test system.
James J.d. Wang - One of the best experts on this subject based on the ideXlab platform.
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Market architecture: limit-order books versus dealership Markets $
Journal of Financial Markets, 2002Co-Authors: S. Viswanathan, James J.d. WangAbstract:We analyze the customer’s choice with respect to a limit-order book, a dealership Market, and a Hybrid Market structure that combines the two. The customer’s sell order is competed for and divided among a finite number of risk-averse Market makers. We present a general characterization of equilibrium in the limit-order book. We show that when the order flow has a linear hazard ratio, the limit order book is preferred by risk neutral customers. However, a risk averse customer will prefer to trade in a dealership Market when the number of Market makers is large. Further, for risk averse customers, the Hybrid Market structure can dominate the dealership Market and the limit-order book. The results are driven by a tradeoff between two features of the equilibrium demand schedules: a bid-shading effect that operates differently in a limit-order book compared with a dealership Market, and a zero-quantity bid–ask spread that is present in the limit-order book only. r 2002 Published by Elsevier Science B.V. JEL classificaion: D43; D44; D82; G19
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Market Architecture: Limit Order Books Versus Dealership Markets
SSRN Electronic Journal, 1998Co-Authors: James J.d. Wang, S. ViswanathanAbstract:We analyze the customer's choice with respect to a limit-order book, a dealership Market, and a Hybrid Market structure. The customer's order is competed for and divided among risk averse Market makers (limit-order providers) with heterogeneous inventories. Main conclusions of the paper are as follows: (1) a risk neutral customer prefers to trade in a limit-order Market instead of in any Hybrid or dealership Markets; (2) a risk averse customer prefers to trade in a dealership Market over a limit-order book Market when the number of Market makers is large and when the variation in order size is significant; and (3) for risk averse customers, the Hybrid Market structure, when properly structured, dominates the dealership Market. Findings of the paper can be understood in terms of the tradeoff between two features of the equilibrium demand schedules: a bid reduction effect that operates differently in a limit-order book versus in a dealership Market, and a zero-quantity spread that is present in the book only. Results in this paper shed new light on important issues such as why the pure dealership structure is perceived as being a poor Market-place for small orders, and why the limit-order book is inefficient in handling large order size variation. They also provide a rationale for the recent move in many large equity Markets toward a structure where small orders are executed against a limit-order book while large orders are executed in a dealership setting.
