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dc.contributor.authorRamos, Ariana
dc.contributor.authorDe Jonghe, Cedric
dc.contributor.authorSix, Daan
dc.contributor.authorBelmans, Ronnie
dc.date.accessioned2019-05-06T08:43:56Z
dc.date.available2019-05-06T08:43:56Z
dc.date.issued2013en_US
dc.identifier.isbn9781479920082
dc.identifier.urihttp://hdl.handle.net/20.500.12127/6330
dc.description.abstractThe price set in electricity markets is given by the intersection of supply and demand during a given time period. The demand-side has traditionally been a price taker while the supply-side actively adjusts the output of the market clearing unit to fluctuations in consumption. Currently, there is a transition toward active demand participation that can adequately respond to market conditions. However, private knowledge of demand adjustments, such as the impact of modifying behavior or the availability to do so, creates asymmetry of information between the active supply side and the passive demand. This paper proposes a revelation mechanism that will prompt the demand-side to choose the best option for themselves among a menu of incentives. Rational behavior of consumers implies that demand will only shift when the benefit of doing so is higher than the costs of modifying consumption patterns. Given differences among demand participants and the objectives of the market operator, an analysis of the rationale of each market agent shows the feasible options for demand incentives. This study enables the design of appropriate market mechanisms aimed to discover customer categories and determine the adequate incentives for each case.en_US
dc.language.isoenen_US
dc.subjectLoad Managementen_US
dc.subjectElectricityen_US
dc.subjectElectricity Supply Industryen_US
dc.subjectEquationsen_US
dc.subjectGeneratorsen_US
dc.subjectTurbinesen_US
dc.subjectReal-time Systemsen_US
dc.titleAsymmetry of information and demand response incentives in energy marketsen_US
dc.title.alternative2013 10th International Conference on the European Energy Market (EEM)en_US
dc.contributor.departmentKU Leuvenen_US
dc.contributor.departmentEnergyVilleen_US
vlerick.conferencedate27/05/2013-31/05/2013en_US
vlerick.conferencelocationStockholm, Swedenen_US
vlerick.conferencename10th International Conference on the European Energy Market (EEM)en_US
vlerick.conferenceorganiserIEEEen_US
vlerick.knowledgedomainSpecial Industries : Energyen_US
vlerick.typeconfpresConference Proceedingen_US
vlerick.vlerickdepartmentEGSen_US
dc.identifier.vperid223415en_US


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