determination of network rental components in a competitive electricity market the locational marginal pricing lmp based settlement results in a surplus collected by the system operator from the consumers the nonlinear transmission losses and the constrained operation of the power system due to operating limits such as power flow limits on transmission lines cause the accumulation of this surplus this accumulated revenue referred to as the network rental in this paper has two main components loss rental and constraint rental this paper develops a method to calculate these different rental components paid by each consumer by combining the power flow tracing and kkt optimality conditions this yields quantitative determination of how each consumer has overpaid in the form of loss rental and constraint rental which in turn can be used to get a better insight of how the rental is accumulated simple three and four bus systems are used to demonstrate the proposed method

marginal loss modeling in lmp calculation this paper discusses the pricing of marginal transmission network losses in the locational marginal pricing approach recently deployed in the iso new england iso ne standard market design smd project implemented by alstom s t d energy automation and information eai business the traditional loss model is studied and a new model is proposed the new model achieves more defendable and predictable market clearing results by introducing loss distribution factors to explicitly balance the consumed losses in the lossless dc power system model the distributed market slack reference is also introduced and discussed the lmp components produced by the two models are studied and compared under changes in slack reference numerical examples are presented to further compare the two models

sources procedures and microeconomic effects of innovation fabio arcangeli paul david frank engelman christopher freeman massimo moggi richard nelson luigi orsenigo nathan rosenberg michele salvati g n von tunzelman two anonymous referees and the participants at the meeting of the committee on distribution growth and technical progress of the italian national research council cnr rome november 16 1985 have helped with various redraftings a particularly grateful acknowledgment is for the insightful and patient help of moses abramovitz this work has been undertaken at the science policy research unit spru university of sussex as part of the research program of the designated research centre sponsored by the economic and social research council esrc earlier support to the research that led to this paper by the italian national research council cnr is also gratefully acknowledged the statistical research has been undertaken with the assistance of stephano brioschi ilaria fornari and giovannu prennushi

structure and strategy within heterogeneity multiple dimensions of regional networking steiner m and ploder m structure and strategy within heterogeneity multiple dimensions of regional networking regional studies clusters are highly differentiated across sectors regions and countries both theoretical and empirical approaches therefore have to avoid universalization based on recent approaches various forms of network relations and possible contents of interactions of firms connected with knowledge exchange are elaborated it is argued that these interactions are distinctively structured that the diffusion of knowledge is highly selective and strongly dependent on the position of firms within networks and on their absorptive capacity by applying network analysis to different dimensions of interactions between firms it is shown that physical linkages within the medium technology cluster under scrutiny are rather weak that interactions based on different forms of knowledge exchange are denser and that direct links to the science base seem to be more prominent than long term su

two stage stochastic programming model for market clearing with contingencies planning for contingencies typically results in the use of more expensive facilities before disruptions it leads to different prices and energy availability at various network locations depending on how the contingency analysis is performed in this paper we present a two stage stochastic programming model for incorporating contingencies the model is computationally demanding and made tractable by using an interior point log barrier method coupled with benders decomposition the second stage optimal recourse function rf defines the most economically efficient actions in the post contingency state for returning the system back to normal operating conditions the approach is illustrated with for two examples small with 8 buses 11 branches and ieee medium scale with 300 buses 411 branches

experience with pjm market operation system design and implementation this paper outlines the fundamental features of the pjm day ahead energy market and real time energy market the day ahead market is based on a voluntary least cost security constrained unit commitment and dispatch with several fundamental design features that ensure the market is robust and competitive this market offers market participants the option to lock in energy and transportation charges at binding day ahead prices the flexibility of the day ahead market rules provide all participants with equal access to the day ahead market through consistent price signals and by providing all participants with the ability to submit virtual demand bids and virtual supply offers these mechanisms promote liquidity in the markets economic incentives drive the convergence of the day ahead and real time market prices the real time energy market is based on security constrained economic dispatch and is cleared based on the actual system operating conditions the lmp based markets support reliable grid operations through efficient price signals

universities and fundamental research reflections on the growth of university industry partnerships the recent rise in university industry partnerships has stimulated an important public policy debate regarding how these relationships affect fundamental research in this paper we examine the antecedents and consequences of policies to promote university industry alliances although the preliminary evidence appears to suggest that these partnerships have not had a deleterious effect on the quantity and quality of basic research some legitimate concerns have been raised about these activities that require additional analysis we conclude that additional research is needed to provide a more accurate assessment of the optimal level of commercialisation

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

knowledge interactions between universities and industry in austria sectoral patterns and determinants the relationship between university and industry is a complex and heterogeneous phenomenon and an important topic of the recent debate on innovation systems this chapter explores the role of knowledge flows between universities and firms in the austrian national innovation system and provides valuable insights into several dimensions of knowledge flows that are not typically explored in research on this topic the patterns of interaction between 46 different fields of science and 49 economic sectors represent an important and interesting outcome of the analysis left censored tobit models are used to evaluate the effect of sector specific and science field specific characteristics upon the probability of knowledge interaction disaggregated by type of interaction

cooperation between rivals informal know how trading it has long been recognized that it is difficult for an innovating firm to fully appropriate the benefits arising from its innovations and that desired research might therefore not be performed nelson 1959 pp 297 306 one sometimes possible solution to this dilemma is cooperative r d conducted by firms who share the costs and benefits of particular r d projects johnson 1973

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

what drives the formation of valuable university industry linkages insights from the wine industry abstract most of the literature on university industry u i linkages assumes that these linkages are beneficial per se we question this assumption suggesting that not all such linkages are equally helpful in this paper we explore the factors driving the formation of valuable u i linkages conceived as those linkages between universities and firms that have a higher potential to diffuse knowledge to other firms in their regional economy our empirical strategy combines case study methodology with econometric techniques using data from two wine clusters in chile and in italy the firm s knowledge base is found to be a key driver of valuable u i linkages we conclude that selectivity should be encouraged among policy makers endeavouring to promote u i linkages

volatility of power grids under real time pricing the paper proposes a framework for modeling and analysis of the dynamics of supply demand and clearing prices in power systems with real time retail pricing and information asymmetry characterized by passing on the real time wholesale electricity prices to the end consumers real time pricing creates a closed loop feedback system between the physical layer and the market layer of the system in the absence of a carefully designed control law such direct feedback can increase sensitivity and lower the system s robustness to uncertainty in demand and generation it is shown that price volatility can be characterized in terms of the system s maximal relative price elasticity defined as the maximal ratio of the generalized price elasticity of consumers to that of the producers as this ratio increases the system may become more volatile since new demand response technologies increase the price elasticity of demand and since increased penetration of distributed generation can also increase the uncertainty in price based demand response the theoretical findings suggest that the architecture under examination can potentially lead to increased volatility this study highlights the need for assessing architecture systematically and in advance in order to optimally strike the trade offs between volatility robustness and performance metrics such as economic efficiency and environmental efficiency

factors affecting university industry r d projects the importance of searching screening and signalling this paper presents an empirical analysis of the determinants of research cooperation between firms and public research organisations pros for a sample of innovating small and medium sized enterprises smes the econometric analysis is based on the results of the know survey carried out in seven eu countries during 2000 in contrast to earlier works that provide information about the importance of pros research we know the number of firm pro collaborative research and development r d projects this allows us to study the determinants of firm collaboration with pros in terms of both the propensity of a firm to undertake r d projects with a university do they cooperate or not and the extent of this collaboration number of r d projects two questions are addressed which firms cooperated with pros and what are the firm characteristics that might explain the number of r d projects with pros the results of our analysis point to two major phenomena first the propensity to forge an agreement with an academic partner depends on the absolute size of the industrial partner second the openness of firms to the external environment as measured by their willingness to search screen and signal significantly affects the development of r d projects with pros our findings suggest that acquiring knowledge through the screening of publications and involvement in public policies positively affects the probability of signing an agreement with a pro but not the number of r d projects developed in fact firms that outsource research and development and patent to protect innovation and to signal competencies show higher levels of collaboration

universities in emerging economies bridging local industry with international science evidence from chile and south africa emerging economies are now becoming more central in global competition to achieve this many countries have invested to develop into knowledge economies universities have a role to play in this transformation both as generators of new knowledge as well as actors that can interact with the local industry and contribute to its innovativeness this paper explores using two case studies in the chilean and south african wine industry how universities connect international science to domestic industry it finds that this connection occurs through a few bridging researchers who display particular characteristics compared with their colleagues bridging researchers are more talented than average researchers both because they publish more in international journals and or because they have received awards for their academic work this finding may have significant policy implications as policies aimed at strengthening the skills of these researchers should be welcomed in catching up industries copyright the author 2012 published by oxford university press on behalf of the cambridge political economy society all rights reserved oxford university press

impact of data quality on real time locational marginal price the problem of characterizing impacts of data quality on real time locational marginal price lmp is considered because the real time lmp is computed from the estimated network topology and system state bad data that cause errors in topology processing and state estimation affect real time lmp it is shown that the power system state space is partitioned into price regions of convex polytopes under different bad data models the worst case impacts of bad data on real time lmp are analyzed numerical simulations are used to illustrate worst case performance for ieee 14 and ieee 118 networks

pricing electricity in pools with wind producers this paper considers an electricity pool that includes a significant number of wind producers and is cleared through a network constrained auction one day in advance and on an hourly basis the hourly auction is formulated as a two stage stochastic programming problem where the first stage represents the clearing of the market and the second stage models the system operation under a number of plausible wind production realizations this formulation co optimizes energy and reserve and allows deriving both pool energy prices and balancing energy prices these prices result in both cost recovery for producers and revenue reconciliation a case study of realistic size is used to illustrate the functioning of the proposed pricing scheme

trade and the variety of democratic institutions students of comparative politics have long acknowledged the importance of such institutional factors as electoral systems parliamentary versus presidential rule and the strength of parties but they have either regarded the institutions as given or have explained them entirely in domestic terms associating proportional representation for example with the intensity of social cleavages in economically advanced democracies however these institutional aspects can be plausibly linked to dependence on trade proportional representation the parliamentary system strong parties and large electoral districts have survival value for developed democracies exposed to trade that the recently revived agitation for proportional representation in the united kingdom has been cast explicitly in terms of economic necessity and dependence on trade adds force to this argument and suggests the need for further historical research on other cases of institutional adaptation and change

learning from competing partners outcomes and durations of scale and link alliances in europe north america and asia this paper investigates the outcomes and durations of strategic alliances among competing firms using alliance outcomes as indicators of learning by partner firms we show that alliance outcomes vary systematically across link and scale alliances link alliances are interfirm partnerships to which partners contribute different capabilities while scale alliances are partnerships to which partners contribute similar capabilities we find that partners are more likely to reorganize or take over link alliances than scale alliances by contrast scale alliances are more likely to continue without material changes the two types of alliances are equally likely to shut down at similar ages these results support the view that link alliances lead to greater levels of learning and capability acquisition between the partners than do scale alliances copyright 2000 john wiley sons ltd

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

co operative r d why and with whom an integrated framework of analysis abstract firms use r d partnerships to access knowledge and build global r d networks this article develops an integrated framework to examine the determinants of the choice of partners with which firms co operate on r d this resource based perspective underscores the interactions between three major questions why co operate who does and with whom it argues in particular that the choice of partners is dictated by the complementary resources which the latter command the framework is then expanded to predict the relative efficiency of r d co operation with different partners including suppliers clients rivals academic institutions and foreign firms the empirical analysis which is based on responses to france s version of the second european community innovation survey cis 2 strongly supports the overall framework of analysis

the dynamics of innovation from national systems and mode 2 to a triple helix of university industry government relations abstract the triple helix of university industry government relations is compared with alternative models for explaining the current research system in its social contexts communications and negotiations between institutional partners generate an overlay that increasingly reorganizes the underlying arrangements the institutional layer can be considered as the retention mechanism of a developing system for example the national organization of the system of innovation has historically been important in determining competition reorganizations across industrial sectors and nation states however are induced by new technologies biotechnology ict the consequent transformations can be analyzed in terms of neo evolutionary mechanisms university research may function increasingly as a locus in the laboratory of such knowledge intensive network transitions

on ex post pricing in the real time electricity market this paper proposes a new framework in calculating the ex post prices for the spot electricity market the proposed method finds a set of prices that are as consistent as possible with the actual outputs of resources correctly following their dispatch instructions two alternative consistency metrics are proposed in the paper one measures the difference between the actual performance of an individual resource and its bid based profit maximizing response to the ex post prices in a perfectly competitive market another measures the difference between the ex post price and the price that supports the actual response of an individual resource compared to the existing approaches adopted in the real time electricity markets in the u s the proposed method solves the ex post energy and ancillary service prices directly and simultaneously it does not require heuristics that are hard to justify and has a much clear definition for the pricing problem than the existing approaches do moreover the proposed approach is flexible in the price control required by the market operators numerical examples are presented to further demonstrate the validity of this approach