role of distribution factors in congestion revenue rights applications in the locational marginal price lmp based congestion management scheme transmission customers face uncertainty in the congestion charges they incur in order to bring certainty to customers congestion revenue rights crr such as the fixed transmission rights ftr used in the pjm interconnection and flowgate rights fgr are introduced these crr are financial tools that provide the holder reimbursement of the congestion charges incurred in the day ahead market the implementation of crr requires appropriate modeling of the transmission network in which the distribution factors are extensively used these factors the injection shift factors isfs and the power transfer distribution factors ptdfs are linear approximations of the sensitivities of the active power line flows with respect to various variables the factors are computed for a specified network topology and parameter values in practice the ptdfs used for the crr issuance may be different from those used in the day ahead market due to changes in the forecasted network conditions the ptdf errors may impact the ftr issuance quantities the revenue adequacy of the ftr issuer and the hedging ability of the fgr in this paper we explore analytical characteristics of these distribution factors and investigate their role in crr applications we study the nature of the ptdf errors and examine their impacts in these applications both analytically and experimentally our results indicate that the impacts of the ptdf errors in crr applications stay in an acceptable range under a broad spectrum of conditions including contingencies used to establish n 1 security

coordinated fuzzy constrained optimal power dispatch for bilateral contract balancing electricity and ancillary services markets this paper proposes a coordinated fuzzy constrained optimal power dispatch cfcopd algorithm for bilateral contract balancing electricity and ancillary services markets the cfcopd problem is decomposed into social welfare fuzzy maximization subproblem which is solved by mixed integer fuzzy linear programming miflp and combined reactive power cost and cost of real power loss fuzzy minimization subproblem which is solved by fuzzy linear programming flp the proposed cfcopd algorithm is tested on the modified ieee 30 bus system and the thai power 424 bus system the dispatch results show that the social welfare of the fuzzy constrained competitive electricity and ancillary services price ceasp scheme with bilateral contract curtailment bids is higher than those of competitive electricity price cep scheme and ceasp scheme with and without bilateral contract curtailment bids leading to a lower average electricity price

efficient use of generator resources in emerging electricity markets in the emerging electricity market generators sell ancillary services as well as energy to the system operator pricing of ancillary services makes the scheduling of units more difficult due to the resulting unit cost curves the new climate will encourage generators to exploit the flexibility of their units in terms of operating modes this paper uses the augmented hopfield neural network to deal with ancillary service prices specifically reserve and ramping prices submitted by generators and to schedule units with a choice of operating modes

balancing supply and demand under mixed pricing rules in multi area electricity markets market clearing has always been an issue of great interest and research as liberalized electricity markets evolved over time in many countries as trading in electricity evolves rapidly multi area power exchanges appear to substitute the local markets the tie lines constitute a significant parameter in multi area power exchanges since congestion leads to price differentiation prices are affected by physical e g network constraints yet they should sometimes follow regulatory policy rules which do not necessarily reflect or depend on physical characteristics until now all approaches in clearing a multi area power dispatch or a multi area market are based on a zonal or nodal pricing model which is applied uniformly to both production and demand within the same zone or at each node these approaches are not able to deal with complex pricing rules which impose price discrimination for supply or demand entities within the same area this paper presents a mathematical approach for the solution of a multi area dispatch in which production and demand of the same area may be cleared in different prices the main principle is the formulation of a mixed complementarity problem for the system equilibrium conditions in which supply and demand are associated to explicitly or implicitly defined prices illustrative implementations and test results for a simple five zone system and the 73 bus ieee rts 96 are presented

transmission congestion management in competitive electricity markets this paper studies the management of costs associated with transmission constraints i e transmission congestion costs in a competitive electricity market the paper examines two approaches for dealing with these costs the first approach is based on a nodal pricing framework and forms the basis of the so called pool model the paper also provides an analysis of financial instruments proposed to complement nodal pricing and includes illustrative test results on a large scale system the second approach is based on cost allocation procedures proposed for the so called bilateral model the paper explains the basis for this model including a game theoretic evaluation of some of its aspects both the pool and bilateral models have been at the center of the electric utility restructuring debate in california

screening and mitigation of exacerbated market power due to financial transmission rights a methodology is proposed for taking into account potential exacerbation of market power due to financial transmission rights ftr allocations hedging position ratios hprs are computed for ftr bids these ratios quantify the relationship between the positions of an ftr bidder in the energy market and in the transmission rights allocation based on the transmission rights bids these ratios are used to identify the potential gambling positions from the transmission rights bidders and therefore used to prioritize critical positions in the auction the transmission right auction is modeled as a quadratic programming problem with a direct current dc approximation the methodology is illustrated by a three node network and then extended to larger networks

a unifying market power measure for deregulated transmission constrained electricity markets market power assessment is a prime concern when designing a deregulated electricity market in this paper we propose a new functional market power measure termed transmission constrained network flow tcnf that unifies three large classes of transmission constrained structural market power indices in the literature residual supply based network flow based and minimal generation based furthermore it is suitable for demand response and renewable integration and hence more amenable to identifying market power in the future smart grid the measure is defined abstractly and allows incorporation of power flow equations in multiple ways we investigate the current market operations using a dc approximation and further explore the possibility of including detailed ac power flow models through semidefinite relaxation and interior point algorithms from matpower finally we provide extensive simulations on ieee benchmark systems and highlight the complex interaction of engineering constraints with market power assessment

locational market power screening and congestion management experience and suggestions the existing new england electricity market follows a uniform pricing system inframarginal generators are paid a uniform clearing price while constrained on generators are paid bid prices subject to a locational market power screen in this paper we first report the operation experience of this approach during the market s first two years we then briefly review the new england power system nepool locational pricing proposal being implemented two new approaches for locational market power screening are presented the first one is based on a zonal network model and the second is based on a nodal transmission model both approaches are being evaluated by an independent consultant and are be to recommended to nepool test results of both approaches are included

connecting the intraday energy and reserve markets by an optimal redispatch electricity markets based on simple bids provide a very high degree of transparency and simplicity however simple bids fail to capture many well known characteristics of generating units and therefore the responsibility for obtaining feasible schedules is transferred to market participants the purpose of this paper is to help the generating utility to automatically analyze the last energy program cleared in the market and in case this program is technically unfeasible to provide an alternative schedule by re dispatching the generating units this is achieved by formulating an optimization problem where the objective is to find the cheapest and feasible instantaneous power trajectory of each generator trying to minimize the differences between its hourly average values and the last energy program as the objectives of the utility can vary during the day three different models are presented two of them are formulated as a joint energy and reserve dispatch in order to take into account possible commitments acquired in the ancillary services market of agc regulation in this sense a novel approach for considering discontinuous ancillary regulation curves is proposed some numerical examples are included to illustrate the essential features of the models

patents and other intellectual property rights in this article the author reviews intellectual property rights iprs with some emphasis on the protection of agricultural and life sciences innovations the main institutional features of iprs are first discussed along with a brief historical background and an articulation of the main rationale for the existence of such rights this is followed by an overview of the principal economic issues related to iprs the author explains the main benefit cost trade offs of allowing patents and other iprs and then analyzes specific issues in some depth including the scope of patent protection the effects of patent races and the problems arising when iprs concern cumulative and or complementary innovations the author further illustrates the economics of iprs by considering instruments alternative to patents such as prizes and government procurement contracts finally the author briefly discusses some open policy issues in this area

a decentralized approach for optimal wholesale cross border trade planning using multi agent technology over the past decade the power industry has been undergoing deregulations to introduce competitions among market participants once centralized decision making must now adapt to the new market structure the optimal cross border electricity trade planning is an important issue in interconnected power systems under transmission open access in this paper a decentralized approach is suggested to solve the problem using multiagent technology in the new approach rational market participants make decisions based on their own benefits in the meantime the minimum production and transmission cost of the whole system can be reached without a central coordination except necessary information exchange through media like the internet a relevant lemma has been proven the approach is implemented via a multiagent system using java programming language computer tests on a five area test system show that the suggested new approach is effective and promising

the tc psi indicator for forecasting the potential for market power in wholesale electricity markets abstract wholesale electricity market regulators have long sought a simple reliable transparent indicator of the likely impact of wholesale market developments on the exercise of market power conventional indicators such as the pivotal supplier indicator psi and the residual supply index rsi cannot be extended to apply to meshed transmission networks especially when generating companies hold a portfolio of generating units at different locations on the network this paper proposes a generalisation of these standard measures termed the transmission constrained pivotal supplier indicator tc psi the tc psi of a generating company is defined as the maximum must run generation for any subset of generating plant while allowing for strategic operation of other plant in the portfolio we illustrate the use of the tc psi using a five node model of the australian nem

energy and reserve pricing in security and network constrained electricity markets this paper analyzes some unresolved pricing issues in security constrained electricity markets subject to transmission flow limits although the notion of separate reserve types as proposed by ferc can be precisely and unambiguously defined when transmission constraints are active the very existence of separate reserve prices and markets is open to question when the prices are based on marginal costs instead we submit here that the only products whose marginal costs can be separately and uniquely defined and calculated are those of energy and security at each node thus under marginal pricing at any given network bus all scheduled reserve types should be priced not at separate rates but at a common rate equal to the marginal cost of security at that bus furthermore we argue that nodal or area reserves cannot be prespecified but must be obtained as by products of the market clearing process simulations back up these conclusions

reactive market power analysis using must run indices this paper investigates the issues of reactive power must run capacity in power system operations hence in electricity markets a must run index based method is proposed in the paper to measure the market power held by reactive power suppliers the nordic 32 bus system and the ieee 118 bus system are used to test the proposed method the market power holders of reactive power found using the proposed method are in accord with that found in the realistic nordic system operation and in the existing analysis of ieee 118 bus system the paper identifies through must run indices possible conditions that could lead to market power in the case of applying a bid structure within a market framework furthermore market structure drawbacks can cause the appearance of market power even in a topologically ideal system

informal job search and black youth unemployment in this paper i analyze how young black and white unemployed jobseekers use various methods of search and the employment outcomes which result from their use the focus is on distinguishing informal search methods i e friends and relatives or direct application without referral from more formal ones in analyzing racial differences the results show that the two informal methods of search account for about 90 of the difference in employment probabilities between white and black youth this also accounts for 57 71 of the difference in unemployment rates between the two furthermore most of these results reflect differences in the ability of these methods to generate job offers as opposed to differences in search effort or job acceptance rates however our ability to explain these differences through personal family and household characteristics was generally quite limited this abstract was borrowed from another version of this item

combined pool bilateral dispatch i performance of trading strategies this three paper series deals with the dispatch of power networks under mixed pool bilateral trading the major questions examined are i to what degree does the relative level of pool versus bilateral trading influence performance in terms of individual power levels costs prices revenues and expenditures ii what is the comparative performance of mixed trading with firm and nonfirm bilateral contracts under various curtailment strategies and iii is the revenue derived from the pool and bilateral trading consistent with the corresponding unbundled costs the above issues are sequentially addressed in each of the three parts the eventual goal of these results is to help generator and load serving entities choose appropriate relative levels of pool versus bilateral trades while considering risk economic performance as well as physical constraints this paper proposes a one step optimal power flow model that dispatches the pool in combination with the privately negotiated bilateral contracts while minimizing cost and accounting for both losses and congestion in part i notions of pool bilateral demand and generation as well as a number of technical and economic performance measures for each competing entity are defined this dissection of total and individual financial measures according to pool or bilateral trading allows the market participant to evaluate the profitability of each component of its chosen pool bilateral mix a number of simulation results illustrate the effect of varying the relative levels of pool bilateral trading on the values of individual performance measures

social welfare maximization in transmission enhancement considering network congestion transmission enhancement in a competitive electricity market is analyzed in terms of its impact on the social welfare a formulation of social welfare and the utility functions are derived in this research variations of supply and demand during a year are considered in transmission enhancement decisions the proposed social welfare optimization problem is solved to determine the transmission congestion status under the optimal condition of the existing system transmission enhancement options are compared quantitatively to demonstrate their ability to increase social welfare which provides valuable information for long term transmission the proposed method provides a systematic and quantitative tool for social welfare evaluation that is not available in industry today

optimal dispatch of a system based on offers and bids a mixed integer lp formulation the federal energy regulatory commission s ferc orders 888 and 889 will have far reaching consequences on the operation and dispatch of electric power systems a common element of the change is that of dispatching the system based on offers and bids to sell and buy unbundled commodities this paper formulates and solves the optimal dispatch problem as a mixed integer linear program such a formulation allows the acceptance of offers with minimum takes arising from generator characteristics

certain considerations in the pricing of transmission service a utility b intervening between utilities a and c such that lambda sub a lambda sub b lambda sub c might implicitly choose to price the transmission service for wheeling power from a to c according to three concepts called attitudes these attitudes franchise entitlement and simultaneous purchase and set are defined and a nondimensional normalized method of evaluating the economic benefits accruing from their use are discussed in detail the pricing of transmission service over the short term typically for the hourly or weekly exchanges of economy energy and interruptible energy is discussed the opportunity for the intermediate utility in the market are examined

spot pricing when lagrange multipliers are not unique classical spot pricing theory is based on multipliers of the primal problem of an optimal market dispatch i e the solution of the dual problem however the dual problem of market dispatch may yield multiple solutions in these circumstances spot pricing or any standard pricing practice based on multipliers cannot generate a unique clearing price although such situations are rare they can cause significant uncertainties and complexities in market dispatch in practice this situation is solved through simple empirical methods which may cause additional operations or biased allocation based on a strict extension of the principles of spot pricing and surplus allocation we propose a new pricing methodology that can yield unique impartial and robust solution the new method has been analyzed and compared with other pricing approaches in accordance with spot pricing theory case studies support the results of the theoretical analysis and further demonstrate that the method performs effectively in both uniform pricing and nodal pricing markets

reservation wages and their labor market effects for black and white male youth this paper presents an empirical analysis of self reported reservation wages for unemployed young black and white males the results show that young blacks seek wages which are comparable to those of young whites in absolute terms but which are higher relative to what is available on the demand side of the market these relatively higher reservation wages of young blacks contribute to their unemployment durations and somewhat to their subsequently received wages changes in reservation wages may thus help to explain the trends in wages and employment of young blacks in recent years

congestion management schemes a comparative analysis under a unified framework the restructuring of the electricity industry has spawned the introduction of new independent grid operators igos typically called transmission system operators tsos independent system operator isos or regional transmission organizations rtos in various parts of the world an important task of an igo is congestion management cm and pricing this activity has significant economic implications on every market participant in the igo s region the paper briefly reviews the cm schemes and the associated pricing mechanism used by the igos in five representative schemes these were selected to illustrate the various cm approaches in use england and wales norway sweden pjm and california the authors develop a unified framework for the mathematical representation of the market dispatch and redispatch problems that the igo must solve in cm in these various jurisdictions they use this unified framework to develop meaningful metrics to compare the various cm approaches so as to assess their efficiency and the effectiveness of the market signals provided to the market participants they compare using a small test system side by side the performance of these schemes

incorporating post zonal reserve deployment transmission constraints into energy and ancillary service co optimization this paper presents a new approach implemented in miso day ahead and real time energy and ancillary service market clearing processes to address the reserve deliverability issue in this approach miso enhanced the co optimization process to incorporate post zonal reserve deployment transmission constraints reserves are procured within the co optimization to meet both market wide reserve requirements and ensure their deliverability on a zonal basis as a result zonal market clearing prices mcps for reserves can properly reflect the effects of zonal reserve deployment on transmission constraints under consideration

economic inefficiencies and cross subsidies in an auction based electricity pool this paper compares two contrasting yet often used electricity market clearing procedures i an auction based algorithm including congestion management and transmission loss cost allocation and ii an optimal power flow the auction procedure produces a single period unit commitment and hence can be compared directly to an optimal power flow solution these algorithms are compared in terms of the economic efficiency of the solution attained and in terms of cross subsidies among generators and demands the purpose of this comparison is to quantify the actual cost to market participants of using a simple seemingly transparent procedure such as an auction based algorithm versus an integrated but computationally intensive one such as an optimal power flow

nodal market power assessment in electricity markets market power assessment is an important aspect of electric market analysis and operation market power problems are more complicated in an electric market than those in other markets due to the specific properties of electricity this paper investigates market power problems and the related solution techniques in an electric power market the impact of load variation the size of a power supplier and random failures on market power has been investigated the geographic difference of market power caused by network constraints has been considered must run share mrs and nodal must run share nmrs have been proposed to represent system and local market powers respectively an optimization technique and the topological analysis of power flow have been used to determine the mrs and nmrs expected nodal must run share enmrs has been proposed to represent the impact of random failures on market power and the associated risk of customers paying a high price due to the exercise of market power the contingency enumeration and probabilistic technique have been used to determine the enmrs the ieee reliability test system is analyzed to illustrate the proposed indices and techniques

transmission access and pricing with multiple separate energy forward markets california s congestion management protocols provide comparable access and prices to all users of the transmission system power exchange and bilateral contract parties the users implicitly bid for capacity on major transmission paths between zones the independent system operator iso allocates the available transmission capacity on these paths so that it maximizes the value of this capacity as measured by the users bids everyone scheduling flow on a congested path is charged the marginal cost based price for using the path the iso keeps each party s portfolio of generation and load individually in balance when adjusting schedules to relieve congestion on interzonal paths by keeping the portfolios of the different parties separate the iso clears its transmission market without arranging energy trades between parties parties are responsible for arranging their own trades the iso does not become involved in the energy forward markets

optimal response of a power generator to energy agc and reserve pool based markets the electric power industry all over the world is undertaking major regulatory and operational changes the understanding of power supply as a public service is being replaced by the notion that competitive markets constitute a more appropriate framework to supply reliable and cheap electric energy to consumers as mandated by ferc orders 888 and 889 this paper considers simultaneously energy agc and reserve markets in a pool framework it provides a tool to enable a power generator to determine optimally its degree of involvement in each one of these markets a real world case study is analyzed and results are presented

assessment of transmission congestion cost and locational marginal pricing in a competitive electricity market in an open access environment transmission constraints can result in different energy prices throughout the network these prices are in fact dependent on a number of factors such as the generating unit bid system load level network topology and security limits imposed on the transmission network due to thermal and voltage and stability considerations computing these energy prices at all buses in large transmission networks under given system operating conditions can be time consuming this paper describes a simple methodology based on the analysis performed by the hydro one in house computer program procose to calculate for a given period of time transmission congestion cost tcc in dollars per unit time and locational marginal pricing lmp in dollars per megawatt hour mwh at any selected bus in the transmission system in addition the information provided by the program output on congested transmission elements is used to identify buses in the network whose lmps are representative of the entire network the computed lmps at these buses are used to define zones in the network where each zone has its lmp the proposed methodology can be used to carry out sensitivity studies to determine the impact of changes in system parameters and operating conditions on the lmps the proposed method is illustrated using the ieee reliability test system rts and the hydro one network system

a theory of trade secrets in firms this article provides a simple theoretical model of trade secrets in hierarchical firms a crucial assumption is that each manager has access to trade secrets pertaining to his own hierarchical level as well as to all lower levels the article explores some implications of this assumption for optimal degree of trade secrets accumulation and protection as well as for the wage structure in firms in addition the model implies that managers may have an incentive to overpay their subordinates and protect their firms trade secrets too much

the relative effectiveness of patents and secrecy for appropriation abstract changes in patent law global competition and the rise of several new technologies suggest that patents could be of greater value than secrecy for many innovative firms particularly small firms that are unable to use market power or other factors to appropriate their investments in innovation data from the 1993 european community innovation survey cis for up to 2849 r d performing firms is analysed to determine the relative importance of secrecy vs patents this particular combination of appropriation methods is interesting because secrecy can act as a mutually exclusive alternative to patents the results show that a higher percentage of firms in all size classes rate secrecy as more valuable than patents however ordered logit regressions show that the probability that a firm rates secrecy as more valuable than patents declines with an increase in firm size for product innovations while there is no relationship for process innovations the firm s r d intensity has no effect on the relative value of secrecy vs patents there is weak evidence to show that participation in cooperative r d increases the value of patents over secrecy for product innovations the results are relevant to ongoing debates over changes to the patent system and the need for policies to encourage small firms to patent more

pricing of reserves valuing system reserve capacity against spot prices in electricity markets this paper models the interdependencies between markets for secondary reserve capacity and spot electricity to derive the pricing of reserves under equilibrium conditions starting with the indifference condition between offering in both markets the reservation price is derived from the opportunity cost consideration and the unit commitment conditions in a fundamental interrelated market framework the reserve market examined compares widely to the german market for secondary reserves but the general approach may also be used to investigate other reserve markets the approach explores and formalizes the influence of reserve capacity on the spot market supply function a numerical solution procedure is provided to this non trivial case of market interaction the model is used to estimate the expected reservation price development over the last years in germany

a zonal congestion management approach using real and reactive power rescheduling in a deregulated electricity market it may always not be possible to dispatch all of the contracted power transactions due to congestion of the transmission corridors system operators try to manage congestion which otherwise increases the cost of the electricity and also threatens the system security and stability in this paper a new zonal cluster based congestion management approach has been proposed the zones have been determined based on lines real and reactive power flow sensitivity indexes also called as real and reactive transmission congestion distribution factors the generators in the most sensitive zones with strongest and nonuniform distribution of sensitivity indexes are identified for rescheduling their real power output for congestion management in addition the impact of optimal rescheduling of reactive power output by generators and capacitors in the most sensitive zones has also been studied the proposed new zonal concept has been tested on 39 bus new england system and a 75 bus indian system

the firm strikes back non compete agreements and the mobility of technical professionals this study explores how firms shape labor markets and career paths using employee non compete agreements the sociology of work has overlooked non competes but data indicate that nearly half of technical professionals in the united states are asked to sign such employment contracts fearing loss of investments in talent and trade secrets firms use non competes to strike back against technical professionals increased mobility following the decline of internal labor markets in depth interviews with 52 randomly sampled patent holders in a single industry coupled with a survey of 1 029 engineers across a variety of industries reveal that ex employees subject to non competes are more likely to take career detours that is they involuntarily leave their technical field to avoid a potential lawsuit moreover firms strategically manage the process of getting workers to sign such contracts waiting for workers bargaining position to weaken these findings inform our understanding of the social organizati

management of multiple congested conditions in unbundled operation of a power system this paper studies congestion management based on congestion pricing as may be done by an independent power system operator four main concepts are discussed congestion pricing can lead to the same solution as an optimal power flow pricing need not have cost information available good estimates of nonlinear cost coefficients are necessary and pricing for congestion management is separable from pricing for the purpose of transmission network revenue reconciliation emphasis is on the determination of sufficient information by observation of the behavior of the market to permit optimum pricing without explicit communication among parties and without generators ever being explicitly concerned about the relief of flow congestion results from simulated experiments are presented

the locus of racial disadvantage in the labor market1 using a pooled sample constructed from recent installments of the displaced workers survey this study examines the racial disparities in postdisplacement outcomes while controlling for the predisplacement experience and earnings of individual workers it finds no racial difference in the reemployment wage but there is a large racial disparity in the chances of reemployment among workers with equivalent characteristics and experience this lower reemployment rate of displaced black workers may be due to individual differences in search behavior but it is also consistent with contemporary accounts of hiring discrimination

competitive energy storage in the presence of renewables a large fraction of new distributed generation will use renewable sources and cannot be treated as conventional generators due to high variability energy storage is a natural mechanism for absorbing variability and hence minimizing costly reliance on generator reserves we consider a simple scenario in which energy imbalances are allocated to energy storage representing either cooperation with a renewable producer or competitive operation in markets the optimal storage scheduling strategy is shown to be an inventory control like policy which through mild approximation yields affine relationships with the state variables we develop and numerically evaluate suboptimal policies that approximately incorporate the effects of correlation further approximation enables us to characterize the nash equilibria arising between generation and storage which we use to analyze strategic effects specifically we find that inefficient storage can lead to non socially optimal behavior

wheeling of power under deregulated environment of power system a bibilographical survey the power industry is moving rapidly from regulated conventional setup to a deregulated environment there is an urgent need to keep a track of international experiences and activities taking place in this emerging field this paper gives a bibliographical survey and general backgrounds of research and development in the field of power system wheeling under deregulated environment based on over 170 published articles wheeling in general and the establishment of wheeling rate in particular are subjects of extensive debate today this will be very much useful for all countries especially those developing countries which are moving toward the unbundling of electricity supply industry esi the collected literature have been divided into many section so that new researchers do not face any difficulty for obtaining literature particularly in the area of wheeling of power under deregulated environment

evidence on discrimination in employment codes of color codes of gender there is substantial racial and gender disparity in the american economy as we will demonstrate discriminatory treatment within the labor market is a major cause of this inequality the evidence is ubiquitous careful research studies that estimate wage and employment regressions help wanted advertisements audit and correspondence studies and discrimination suits that are often reported by the news media yet there appear to have been periods of substantial reductions in economic disparity and discrimination for example donohue and heckman provide evidence that racial discrimination declined during 1965 1975 1 gottschalk has produced statistical estimates that indicate that discrimination against black males dropped most sharply between 1965 and 1975 and that discrimination against women declined during the interval 1973 1994 2 but some unanswered questions remain why did the movement toward racial equality stagnate and eventually decline after the mid 1970s what factors are most responsible for the remaining gender inequality what is the role of the competitive process in the elimination or reproduction of discrimination in employment

congestion surplus minimization pricing solutions when lagrange multipliers are not unique this paper proposes a comprehensive solution methodology for the pricing difficulty when lagrange multipliers are not unique a linear optimization model is proposed to solve the congestion related pricing difficulty the objective function of the model is set to be minimizing the congestion surplus in addition an incentive based allocation approach is incorporated in the solution procedure for cases when no marginal participant exists the unique pricing solution obtained through our methodology can achieve proper reallocation of the undetermined surplus further we discuss the reference bus independence property of the proposed pricing methodology numerical results are provided to fully test the proposed methodology other possible solutions are also presented for comparison

combined pool bilateral dispatch part ii curtailment of firm and nonfirm contracts this paper deals with the dispatch of power networks under mixed pool bilateral trading the major questions that are examined are the following 1 to what degree does the relative level of pool versus bilateral trading influence performance in terms of individual power levels costs prices and revenues 2 what is the comparative performance of mixed trading with firm and nonfirm bilateral contracts under various curtailment strategies 3 is the revenue derived from the pool and bilateral trading consistent with the corresponding unbundled costs the above questions are sequentially addressed in separate parts of this three part paper the eventual goal of these results is to help generator and load serving entities choose appropriate relative levels of pool versus bilateral trades while considering risk economic performance and physical constraints in part ii two types of bilateral contracts firm and nonfirm are introduced together with their respective curtailment and noncurtailment bids the optimal power flow problem from part i is now modified to accommodate this new type of operation technical and economical performance measures defined in part i namely generation revenues from bilateral and pool sales pool demand payments plus generation and load expenditures to cover transmission loss and congestion management attributed to bilateral exchanges are also used here together with revenues from contract curtailment and expenditures due to noncurtailment bidding simulation results illustrate the effects of firm and nonfirm contracts and their bidding strategies on the relative levels of pool bilateral trading as well as on economic performance of market participants

development of modified rational buyer auction for procurement of ancillary services utilizing participation matrix abstract the rational buyer auction is based on a simultaneous auction that is the redesigned auction mechanism for ancillary services by the california independent system operator caiso the incentive for the rational buyer auction is caiso s intent to adopt a common sense rule of substituting higher quality lower cost services for lower quality higher cost services when it results in reduced total procurement cost for the purposes of designing a desirable auction where the minimum cost for the objective function as well as prevention of price reversal are achieved either the payment cost in marginal pricing auction must be lowered or price reversal in rational buyer auction must be avoided the objectives of this study are a to develop a newly proposed modified rational buyer auction that does not allow price reversal and b to propose and validate a solution procedure that is based on participation matrix and discrete programming the validation of the proposed solution procedure is accomplished through examination of two case studies available in the literature based on the first case study data it is shown that the newly developed modified rational buyer auction avoids price reversal occurrence while the total payment of iso is increased by 5 8 as compared with rational buyer auction also in comparison with marginal pricing auction the iso payment is lowered by 38 8 when the newly developed modified rational buyer auction is utilized for future work it is recommended that the application of the modified rational buyer auction to joint dispatch of energy and ancillary services is investigated

spot pricing of capacities for generation and transmission of reserve in an extended poolco model the poolco model is emerging as one of the most acceptable options for organizing the spot market of electricity although the model represents a reasonable and safe transition from present industry practices to what is required in a competitive electricity market many important issues remain to be resolved in particular issues regarding reliability related services are of a special concern to the industry this paper is devoted to the issue of reserve service delivery and pricing the poolco model is extended in this paper to include spot pricing of reserve generation and transmission capacities as well as demand side bidding in the authors extended model suppliers submit bids for power as well as for reserve capacities a new formulation of the extended security constrained economic dispatch which allocates both power and reserve generation resources is presented in this paper the dispatch of the resources is constrained by limitations of system transmission capacities the proposed formulation is considered to be relevant not only in the poolco but in a more general setup an illustrative example is used to introduce concepts and present results finally some general issues regarding formats of proposals balance of payments and uniqueness of the prices that apply equally to both the original and extended poolco models are discussed

framework for the design and analysis of congestion revenue rights the capability to deal effectively with the uncertainty associated with locational marginal prices lmps in congestion management schemes requires the development of appropriate financial tools congestion revenue rights crr are hedging tools that provide the holder reimbursement of the congestion charges in the day ahead market and thereby provide transmission service customers with price certainty in this paper we construct a framework for the design and analysis of the crr by marrying finance theory notions with salient characteristics of electric power systems and electricity markets the framework consists of three interconnected layers with one layer each to represent the models of the transmission network the commodity markets and the crr financial markets the interaction between the layers is represented as information flows the framework has sufficient scope to allow the analysis of a broad range of problems associated with ensuring price certainty for transmission services the structural modularity of the framework provides the flexibility to analyze issues and design structures for the provision of transmission services in the competitive environment we introduce a new notion of crr payoff parity and a practical pricing scheme which are used as the basis for the design of more liquid crr markets the application of the framework is further illustrated by the analysis of the conditions that guarantee the revenue adequacy for the crr issuer

demand side reserve offers in joint energy reserve electricity markets we propose a market model that includes demand side reserve offers and where energy and reserve are jointly dispatched generators and consumers can submit offers and bids on five distinct products energy upspinning reserve downspinning reserve and two kinds of standby reserve the resources are scheduled and dispatched in a joint auction through a mixed integer optimization program the extra scheduling flexibility introduced by demand side reserve offers can lead to significant gains in economic efficiency thus the results suggest that not only do the consumers increase their profits but in addition the market power of the generators is reduced

decentralized approach to intermarket congestion management when transmission bottlenecks affect dispatches and prices of neighboring regional transmission organization rto markets intermarket congestion management and coordination are needed to mitigate congestion and to compute economically efficient prices in the day ahead markets this paper discusses and proposes two decentralized processes with which each rto administers its energy market and also acts as a transmission coordinator to achieve feasible and efficient use of congested transmission by all markets in the region interconnection with this arrangement a new decomposition technique is introduced without breaking a network model at the rto s geographical boundaries the paper then presents two decentralized congestion management formulations to model markets interactions in the interconnection the coordination between market operators and transmission operators is based on the use of congestion price signals or allocated megawatt capacities as well as their sensitivity information the proposed solution ensures not only feasible schedules but also efficient and consistent congestion path prices for the final schedules in the entire interconnection numerical examples are given to illustrate the application of the proposed models

improving regulation service based on adaptive load frequency control in lmp energy market in a new environment of energy deregulation the locational marginal price lmp basis is overwhelming congestion management issues but it still requires proper ancillary services to serve the system load frequency control lfc is needed to maintain the system frequency in the dynamic environment in this letter an efficient lfc approach with the critical load level cll based adaptive participation factor is proposed for an lmp based market the cll is considered when the load varies from the generation set point the proposed approach could enhance the lfc performance in securely following up the aggressive change of energy demand the pjm 5 bus system is used to illustrate the proposed lfc

congestion management with ex ante pricing for decentralized electricity markets in this paper the authors present a method and a model for managing transmission congestion based on ex ante congestion prices their method is influenced by the yield management approach widely used for airline reservation systems and their model is built based on the relations between transmission congestion prices and electricity commodity prices that exist for an optimal solution they formulate the congestion pricing problem as a master problem and the electricity commodity energy and reserve pricing as subproblems examples are presented to illustrate how a system operator can use this approach to compute ex ante congestion prices and how market operators can determine clearing prices and schedules of forward electric energy and reserve markets

limits to database protection fair use and scientific research exemptions a trend running diametrically opposed to the expansion of intellectual property rights ipr is the increasing awareness that dominant positions sustained by ipr may be mitigated through exemptions and statutory or compulsory licences it is argued that there are compelling economic reasons to protect valuable assets that are prone to copying but that there are equally compelling reasons to limit monopolistic claims and stimulate cross licensing practices compulsory licensing may serve as a stimulus to the bargaining process with private parties and research institutions alike another important category of information is public sector information access to information has become a concern and the european commission has followed up on its green paper on public sector information in the information society with a directive implementing its vision on affordable access for all and exploitation potential the right of access to information may be enforced through the european convention on human rights it not only guarantees the freedom of speech it also recognises the freedom to receive information

some economics of trade secret law despite the practical importance of trade secrets to the business community the law of trade secrets is a neglected orphan in economic analysis this paper sketches an approach to the economics of trade secret law that connects it more closely both to other areas of intellectual property and to broader issues in the positive economic theory of the common law

are emily and greg more employable than lakisha and jamal a field experiment on labor market discrimination we study race in the labor market by sending fictitious resumes to help wanted ads in boston and chicago newspapers to manipulate perceived race resumes are randomly assigned african american or white sounding names white names receive 50 percent more callbacks for interviews callbacks are also more responsive to resume quality for white names than for african american ones the racial gap is uniform across occupation industry and employer size we also find little evidence that employers are inferring social class from the names differential treatment by race still appears to still be prominent in the u s labor market jel j71 j64

strategic bidding in secondary reserve markets electricity markets are based on several sequential energy and reserve trading mechanisms to constantly maintain the balance between generation and demand during the last years reserve markets are getting much importance all around the world with the increasing social awareness of the renewable energy benefits additional reserve quantities and larger remunerations are being implemented by the regulators since this renewable energy is highly dependent on weather conditions uncertainties utilities are therefore demanding more and more powerful models to better optimize their reserve bidding curves to be sent to the system operators this paper describes a new methodology to obtain an optimized real bidding curve for the secondary spinning reserve market the approach is based on the maximization of a company profit assuming a set of residual demand curves scenarios for its competitors representation and considering the day ahead market opportunity cost to build the reserve cost curve the case study validates the main features of the proposed methodology by its application to the spanish secondary reserve market this methodology is being daily used by one of the most important electricity companies in spain

ex post pricing in the co optimized energy and reserve market this paper discusses an alternative to the ex post pricing model currently under development within iso new england s iso ne ancillary service market since iso ne s real time ancillary service market co optimizes both energy and reserve products ex post pricing is needed for both energy and reserve a co optimization approach for ex post pricing requires defining complex pricing rules and implementing heuristics to ensure consistent binding constraints with the ex ante dispatch in order to avoid complexity and uncertainty of required heuristics a new ex post pricing schema is proposed to calculate the ex post energy and reserve prices in a decoupled way while recognizing the coupling effect of energy and reserve in the proposed approach ex post energy prices are first computed by incorporating the ex ante marginal opportunity cost of reserve in the energy offer the ex post reserve prices are then calculated by considering the ex post marginal opportunity cost of energy this approach simplifies the implementation of ex post pricing rules in the iso ne market numerical examples are presented to further demonstrate the validity of this approach

pricing energy and ancillary services in integrated market systems by an optimal power flow a detailed ac opf based formulation for procuring pricing and settling energy and ancillary service in simultaneous auctions by integrated market systems is presented the paper provides clear definitions of locational marginal prices for energy and ancillary service marginal prices in terms of lagrange multipliers the characteristics of the prices are analyzed especially when economic substitution among ancillary services is required the paper also evaluates the conditions under which opportunity costs are incurred to units that provide ancillary services it is particularly shown that the intuitive belief that the provision of regulation down service does not incur opportunity cost to the provider in general is not true

social capital and finding a job do contacts matter does social capital affect labor market outcomes the prevalent use of job contacts to find work suggests that who you know is an important means of getting a good job network theories of social capital argue that well connected workers benefit because of the job information and influence they receive through their social ties although a number of studies have found a positive relationship between measures of social capital and wages and or occupational prestige little is known about the causal effect of social networks on labor market outcomes four data sets are used to reassess findings on the role of social capital in the labor market a test of causality is proposed based on the argument that if social capital variables do have a causal effect on job outcomes then workers with high levels of social capital should be more likely to use contacts to find work all else being equal results suggest that much of the effect of social capital in the existing literature reflects the tendency for similar people to become friends rather than a causal effect of friends characteristics on labor market outcomes

marginal pricing of transmission services an analysis of cost recovery this paper presents an in depth analysis of network revenues computed with marginal pricing and in particular it investigates the reasons why marginal prices fail to recover the total incurred network costs in actual power systems the basic theoretical results are presented and the major causes of the mismatch between network costs and marginal revenues are identified and illustrated with numerical examples some tutorial and others of realistic size the regulatory implications of marginal network pricing in the context of competitive electricity markets are analyzed and suggestions are provided for the meaningful allocation of the costs of the network among its users

an effective transmission network expansion cost allocation based on game theory the expansion of transmission systems impacts many entities in the market environment each entity may fare better or worse as a result of congestion relief in the presence of new investments negatively affected firms exert their influence to prevent the expansion from taking place the opposition of these firms and the lack of appropriate incentives results in insufficient investments in transmission assets the network is being frequently used at its maximum limits leading to economic inefficiencies and reduced reliability hence there is a need for effective incentive schemes for network expansion in this paper we propose a game theory based scheme for the allocation of transmission expansion costs among market entities the allocation takes into account both the physical and economic impacts of the new transmission assets and the influence of each firm on the expansion decision this is the first scheme designed to give all market participants explicit incentives to support the expansion the application of the allocation solution to the garver six bus system is presented to illustrate the capabilities of the proposed method

reliability and reserve in competitive electricity market scheduling power systems are typically scheduled at least cost subject to operational and security constraints generally no account is taken of generator reliability when scheduling units also the security criteria which include reserve are usually deterministic in nature this paper proposes a method to consider generator reliability explicitly in the scheduling problem a competitive structure is proposed which includes a market for reserve this is formulated as an augmented lagrangian dual function and is solved using a new recurrent neural network the price for reserve is used along with the unit reliability to find a balance between the cost of reserve and the risk of not providing it

the spatial mismatch hypothesis what has the evidence shown this paper reviews 20 years worth of empirical evidence on the spatial mismatch hypothesis after briefly surveying the relevant models from urban and labour economics and recent trends in employment and population suburbanisation the empirical evidence on spatial effects is examined this literature includes evidence on the effects of residential segregation residential suburbanisation and employment suburbanisation and direct measures of access such as travel times the most recent evidence suggests that spatial mismatch is relevant for explaining black white employment differences though the magnitudes of these effects remain unclear

stochastic multiobjective market clearing of joint energy and reserves auctions ensuring power system security in this paper a stochastic multiobjective framework is proposed for day ahead joint market clearing the proposed multiobjective framework can concurrently optimize competing objective functions including augmented generation offer cost and security indices overload index voltage drop index and voltage stability margin besides system uncertainties including generating units and branches contingencies and load uncertainty are explicitly considered in the stochastic market clearing scheme the solution methodology consists of two stages which firstly employs roulette wheel mechanism and monte carlo simulation mcs for random adaptive 24 h scenario generation wherein the stochastic multiobjective market clearing procedure is converted into its respective deterministic equivalents scenarios in the second stage for each deterministic scenario a multiobjective mathematical programming mmp formulation based on the epsiv constrained approach is implemented for provision of spinning reserve sr and nonspinning reserve nsr as well as energy the mmp formulation of the market clearing process is optimized while meeting ac power flow constraints and expected interruption cost eic the ieee 24 bus reliability test system rts 24 bus is used to demonstrate the performance of the proposed method

multicommodity spatial cournot model for generator bidding analysis conventional behavioral models such as cournot to analyze generator behavior do not reflect many of the complexities of advanced electricity markets dispatch and pricing in a number of advanced pool based electricity markets worldwide explicitly recognize the co optimization of ancillary services as well as transmission constraints this paper discusses the development of and experiments with a multimarket cournot model that deals with co optimization of multiple commodities namely energy and various classes of ancillary services and deals with transmission constraints that separate these commodity markets spatially we also discuss the multimarket extension of the cournot model to deal with bilateral contracts for energy a nonlinear programming formulation of the proposed model and the analysis of nodal prices are presented followed by a detailed set of experiments using a simple three node system the model is expected to add to understanding of complex interactions between energy and ancillary services markets and further the impact transmission capacity limits may have on exercise of market power of each of these markets

competitive procurement of ancillary services by an independent system operator this paper discusses the competitive procurement of ancillary services by an independent system operator iso the paper assumes the existence of an underlying market for energy and explains why this energy market must be accompanied by a market for ancillary services these services include operating reserves and automatic generation control agc both of which may require generators that are infra marginal in the energy market to choose between supplying energy or ancillary services the paper discusses the design of an auction for these services that has formed the basis for the california iso s ancillary services market the paper also discusses the real time dispatch of ancillary services

mixed pool bilateral operation part iii unbundling costs of trading services for pt ii see ibid vol 17 no 4 p 1184 90 2002 some of the various services provided under mixed pool bilateral electricity trading are i power to satisfy bilateral contract demand ii power for transmission losses and congestion management due to bilateral contracts iii power for transmission losses and congestion management due to wheeling contracts and iv power for transmission losses and congestion management due to pool demand a procedure is developed and tested to unbundle these mw services as well as their corresponding costs thus allowing the calculation of the average cost of each service comparison of the average and marginal costs serves to evaluate the relative profitability of each service the goal of these results is to help generator and load serving entities choose appropriate relative levels of pool versus bilateral trades while considering risk economic performance and physical constraints

simultaneous clearing of energy and reserves in multi area markets under mixed pricing rules the integration of the spot electricity markets in europe shall lead to multi area power exchanges that will substitute the local markets in such scheme market prices are affected by physical e g network constraints yet they should sometimes follow regulatory policy rules which do not necessarily reflect or depend on physical characteristics in some cases complex pricing rules should be implemented which impose price discrimination for supply and demand entities within the same area the methodology presented in this paper enables the balancing of supply and demand in a multi area market considering energy and reserve bids under complex pricing rules which mix energy and reserve prices a demand bid corresponds to the whole cost a demand entity is willing to pay for its participation in the energy market including the cost for the procurement of the necessary reserves the approach attains price integration of energy and reserves markets simultaneous settlement of energy and reserves and significant decrease of the payments through the uplift accounts the main principle is the formulation of a mixed complementarity problem for the system equilibrium conditions in which supply and demand are associated to explicitly or implicitly defined prices which may be different even in the same zone

market clearing with stochastic security part i formulation the first of this two paper series formulates a stochastic security constrained multi period electricity market clearing problem with unit commitment the stochastic security criterion accounts for a pre selected set of random generator and line outages with known historical failure rates and involuntary load shedding as optimization variables unlike the classical deterministic reserve constrained unit commitment here the reserve services are determined by economically penalizing the operation of the market by the expected load not served the proposed formulation is a stochastic programming problem that optimizes concurrently with the pre contingency social welfare the expected operating costs associated with the deployment of the reserves following the contingencies this stochastic programming formulation is solved in the second companion paper using mixed integer linear programming methods two cases are presented a small transmission constrained three bus network scheduled over a horizon of four hours and the ieee reliability test system scheduled over 24 h the impact on the resulting generation and reserve schedules of transmission constraints and generation ramp limits of demand side reserve of the value of load not served and of the constitution of the pre selected set of contingencies are assessed

marginal pricing and supplement cost allocation in transmission open access the application of marginal costing to transmission pricing in open access schemes requires the collection of a supplement to finance the transmission systems the paper describes the application of marginal cost based pricing in the chilean power system and the difficulties faced in allocating the supplement among parties involved alternative methods for defining the allocation are formulated generalized generation and load distribution factors for cost allocation are formulated and implemented the methods are applied to allocate payments for transmission services provided by the transmission network and by a distribution company

equitable allocation of congestion relief cost to transactions this paper investigates a bid based congestion management scheme for a system that accommodates many bilateral transactions the paper proposes a new allocation method for allocating the cost of congestion relief to transactions that cause the congestion the allocation reflects the actual usage of the congested facilities by the transactions and recovers the cost also proposed in the paper is a consistency test to quantify and test the equity fairness of the method test results illustrate that the method provides better price signals for relieving congestion on lines than the shadow prices the test results also indicate that the method recovers the cost the results on consistency indicate that the proposed method is consistent provided that the transactions causing counterflows on congested lines be compensated

allocation of unit start up costs using cooperative game theory this paper discusses a three part generation offer strategy that enables generators to put in unbundled variable operating costs and fixed start up no load costs we then propose methods based on cost sharing axioms to allocate fixed start up no load costs among electricity consumers load retailers that take into account equity and rationality considerations we focus on the single period cost allocation first we apply three well known game theoretic axioms the core the nucleolus and the shapley value we discuss the relative merits and demerits of each criterion and also explore certain theoretical conditions for the existence of the core and the shapley value lying inside the core finally the multiperiod start up cost allocation problem is studied allocations based on individual periods vis a spl grave vis composite allocation for all periods are compared and contrasted numerical examples are used to illustrate all theoretical concepts

incentives in organizations n 1975 steven kerr published on the folly of rewarding a while hoping for b the argument was simple you get what you pay for kerr distilled this unifying theme from a disparate set of examples involving politicians soldiers doctors orphanage directors professors and students as well as manufacturing and clerical employees and even human resource managers from these examples kerr pp 77980 concluded that two main causes of distorted incentives are fascination with an objective criterion where individuals seek to establish simple quantifiable standards against which to measure and reward performance and overemphasis on highly visible behaviors when some parts of the task are highly visible while others are not it took agency theory 15 years to express kerr s title not to mention to evaluate or extend his conclusions during this period agency theory was obsessed with the tradeoff between incentives and insurance even though clear eyed observations like kerr s about the design and performance of real incentive contracts suggested that several other issues are at least as important fortunately recent work has brought agency theory not only to kerr s position but beyond in this paper i summarize four new strands in agency theory that help me think about incentives in real organizations as a point of departure i begin with a quick sketch of the classic agency model i then discuss static models of objective performance measurement that sharpen kerr s argument repeated game models of subjective performance assessments incentives for skill development rather than simply for effort and incentive contracts between versus within organizations i con

energy and reserve market designs with explicit consideration to lost opportunity costs the primary goal of this work is to investigate the basic energy and reserve dispatch optimization cooptimization in the setting of a pool based market of particular interest is the modeling of lost opportunity cost introduced by reserve allocation the authors derive the marginal costs of energy and reserves under a variety of market designs they also analyze existence algorithm and multiplicity of optimal solutions the results of this study are used to support the reserve market design and implementation in iso new england control area

a congestion management aflocation mechanism for multiple transaction networks in this paper we present a physical flow based congestion management allocation mechanism for multiple transaction networks we use the multiple transaction network framework constructed to characterize transmission congestion and then determine the contribution to congestion attributable to each transaction on a physical flow basis this allocation scheme explicitly addresses the issue of counter flows the allocation results are used in the congestion relief of the independent grid operator igo so as to allow it to acquire relief services to remove the overload congestion attributed to each transaction from the network in the most economic manner the congestion charges attributable to each transaction for its usage of the network are also determined we tested the proposed scheme on several systems and we illustrate its capabilities on a network based on the ieee 57 bus system we discuss the policy implications of the congestion relief allocation solution the proposed scheme provides physically reasonable results and is applicable to large scale networks

a security constrained bid clearing system for the new zealand wholesale electricity market this paper reports upon the mathematical models and implementation of the scheduling pricing and dispatch spd application for the new zealand electricity market nzem spd analyzes bids for energy offers reserve offers and energy demands and recognizes explicitly the effects on bid clearing due to transmission congestion network losses reserve requirements and ramp rate limits advanced lp solution methods are utilized to solve the large scale constrained optimization problem results on a 67 bus test system and the nzem are included

transmission rights and transmission expansions in this paper we propose a new method of defining rights that may be assigned to the developer of a transmission expansion project they include a right to collect the value of the capacity provided by the expansion project as well as the value arising from the admittance of the expansion project this approach not only ties the rights allocation to actual physical characteristics of the transmission project but also allows such allocation to remain independent both of the order in which the projects are treated and of any previously allocated transmission rights

a security constrained energy and spinning reserve markets clearing system using an interior point method a model and solution approach to a daily energy and spinning reserve electricity markets clearing system is presented in this paper the model considers offers for energy supply and spinning reserve bids for demand of energy and re schedulable bilateral contracts system security is taken into account by using a direct current model the model represents the clearing system used by an iso in charge of both the market and system security the clearing system is formulated as an optimization problem which is solved using an interior point method ipm taking advantage of the problem s special structure

transmission management for congested power system a review of concepts technical challenges and development of a new methodology transmission networks have some constraints that should be addressed in order to ensure sufficient control to maintain the security level of a power system while maximising market efficiency the most obvious drawback of transmission constraints is a congestion problem that becomes an obstacle to perfect competition among the market participants since it can influence spot market pricing as the power flow violates transmission constraints redispatching generating units is required and this will cause the price at every node to vary this manuscript presents concepts technical challenges and methodology for investigating an alternative solution to the redispatch mechanism and then formulates lmp scheme using an optimisation technique that may well control congestion as the main issue the lmp scheme are varied and improved to take into account the energy price congestion revenue cost of losses as well as the transmission usage tariff by utilising shift factor based optimal power flow sf opf which is derived from the well known dc optimal power flow dc opf model

energy and reserve dispatch in a multi zone electricity market competitive bidding for ancillary services a s in addition to bidding for energy is increasingly recognized as an important part of electricity markets in this paper an lp based approach is presented for solving the multi product i e energy and a s products multi zone area physical market dispatch problem the approach can explicitly represent various constraints such as reserve requirement constraints network security limits and sharing of constrained resource capacity e g maximum unit generation between energy and reserve the joint dispatch method which dispatches energy and reserve market concurrently is extended to allow inter zonal reserve trading in a multi zone competitive pool numerical examples are included to demonstrate the salient characteristics of the joint dispatch solution

a joint energy and transmission rights auction proposal and properties an auction based process is proposed that allows power market participants to acquire and reconfigure financial transmission rights the process simultaneously accommodates flowgate and point to point options and obligations along with energy production and consumption futures a sequence of auctions is held during which participants can buy and sell rights which are then settled in a day ahead or real time auction at which time all rights are cashed out by allowing flowgate and point to point obligations and options to be reconfigured and exchanged the market can decide what combination of financial rights are most useful to power generators consumers and traders rights can be specified not only for capacity of individual flowgates but also for more complex transmission constraints such as nomograms under certain conditions we prove that the auction is revenue adequate for the market operator in that payments to rights holders cannot exceed congestion revenues we present a linearized dc auction along with a numerical illustration

search method use by unemployed youth this article presents a search model which shows that search method choices should be related to their costs and expected productivities as well as to nonwage income and wage offer distributions the empirical evidence then shows that the most frequently used search methods i e friends and relatives and direct applications without referral are also the most productive in generating offers and acceptances the number of methods used is affected by factors that presumably reflect opportunities as well as income sources and needs specific methods are chosen in a manner that generates positive average effects on outcomes for those using them

market plurality and manipulation performance comparison of independent system operators in this paper the authors present three different models that represent the coordinating functions of existing independent system operators isos and discuss their advantages and disadvantages max iso is a centralized operator based on the pool model and min iso is a decentralized operator based on the bilateral model mix iso is positioned in between having multiple power exchanges or bilateral contracts the performance of the different isos is compared by the total social welfare and the vulnerability to market manipulation a numerical example is presented to compare the performance of different isos the max iso is considered to be the most efficient model theoretically but it does not necessarily provide the best market in terms of vulnerability to market manipulation

impacts of contingency reserve on nodal price and nodal reliability risk in deregulated power systems the deregulation of power systems allows customers to participate in power market operation in deregulated power systems nodal price and nodal reliability are adopted to represent locational operation cost and reliability performance since contingency reserve cr plays an important role in reliable operation the cr commitment should be considered in operational reliability analysis in this paper a cr model based on customer reliability requirements has been formulated and integrated into power market settlement a two step market clearing process has been proposed to determine generation and cr allocation customers nodal unit commitment risk and nodal energy interruption have been evaluated through contingency analysis customers reliability cost including reserve service cost and energy interruption cost have also been evaluated