Bidding on a Peer-to-Peer Energy Market: An Exploratory Field Study

Published Online:https://doi.org/10.1287/isre.2021.1098

References

  • Ableitner L, Tiefenbeck V, Meeuw A, Wörner A, Fleisch E, Wortmann F (2020) User behavior in a real-world peer-to-peer electricity market. Applied Energy 270:115061.CrossrefGoogle Scholar
  • Ågerfalk PJ (2014) Insufficient theoretical contribution: A conclusive rationale for rejection? Eur. J. Inform. Systems 23(6):593–599.CrossrefGoogle Scholar
  • Ansarin M, Ghiassi-Farrokhfal Y, Ketter W, Collins J (2020) Cross-subsidies among residential electricity prosumers from tariff design and metering infrastructure. Energy Policy 145:111736.CrossrefGoogle Scholar
  • Avci E, Bunn D, Ketter W, van Heck E (2019) Agent-level determinants of price expectation formation in online double-sided auctions. Decision Support Systems 124:113068.CrossrefGoogle Scholar
  • Bapna R, Goes P, Gupta A (2003) Replicating online Yankee auctions to analyze auctioneers’ and bidders’ strategies. Inform. Systems Res. 14(3):244–268.LinkGoogle Scholar
  • Bapna R, Goes P, Gupta A, Jin Y (2004) User heterogeneity and its impact on electronic auction market design: An empirical exploration. MIS Quart. 28(1):21–43.CrossrefGoogle Scholar
  • Bollinger BK, Hartmann WR (2020) Information vs. automation and implications on pricing. Management Sci. 66(1):1–25.Google Scholar
  • Borenstein S, Bushnell JB, Wolak FA (2002) Measuring market inefficiencies in California’s restructured wholesale electricity market. Amer. Econom. Rev. 92(5):1376–1405.CrossrefGoogle Scholar
  • Buchanan K, Russo R, Anderson B (2015) The question of energy reduction: The problem(s) with feedback. Energy Policy 77:89–96.CrossrefGoogle Scholar
  • Carrington MJ, Neville BA, Whitwell GJ (2014) Lost in translation: Exploring the ethical consumer intention–behavior gap. J. Bus. Res. 67(1):2759–2767.CrossrefGoogle Scholar
  • Chen Y, Cramton P, List J, Ockenfels A (2021) Market design, human behavior and management. Management Sci. 67(9):5317–5348.LinkGoogle Scholar
  • Deci EL, Ryan RM (2012) Self-Determination Theory. In Van Lange PAM, Kruglanski AW, Higgins ET, eds. Handbook of Theories of Social Psychology (Sage Publications Ltd., London), 1:416–436. https://doi.org/10.4135/9781446249215.n21.Google Scholar
  • Ebeling F, Lotz S (2015) Domestic uptake of green energy promoted by opt-out tariffs. Nature Climate Change 5(9):868–871.CrossrefGoogle Scholar
  • Ecker F, Spada H, Hahnel UJ (2018) Independence without control: Autarky outperforms autonomy benefits in the adoption of private energy storage systems. Energy Policy 122:214–228.CrossrefGoogle Scholar
  • Ehrhardt-Martinez K, Donnelly KA, Laitner S, York D, Talbot J, Friedrich K (2010) Advanced metering initiatives and residential feedback programs: A meta-review for household electricity-saving opportunities. Report, American Council for an Energy-Efficient Economy, Washington, DC.Google Scholar
  • Einav L, Farronato C, Levin J (2016) Peer-to-peer markets. Annu. Rev. Econom. 8:615–635.CrossrefGoogle Scholar
  • European Commission (2018) Renewable Energy Directive II. Directive (EU) 2018/2001 of the European Parliament and of the Council of 11 December 2018 on the promotion of the use of energy from renewable sources (Text with EEA relevance.) PE/48/2018/REV/1 https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv:OJ.L_.2018.328.01.0082.01.ENG&toc=OJ:L:2018:328:TOC.Google Scholar
  • Fabra N, Von Der Fehr NH, Harbord D (2002) Modeling electricity auctions. Electricity J. 15(7):72–81.CrossrefGoogle Scholar
  • Fishbein M, Ajzen I (1975) Belief, Attitude, Intention, and Behavior: An Introduction to Theory and Research (Addison-Wesley, Reading, PA).Google Scholar
  • Gholami R, Watson RT, Hasan H, Molla A, Bjørn-Andersen N (2016) Information systems solutions for environmental sustainability: How can we do more? J. Assoc. Inform. Systems 17(8):521–536.Google Scholar
  • Gode DK, Sunder S (1993) Allocative efficiency of markets with zero-intelligence traders: Market as a partial substitute for individual rationality. J. Political Econom. 101(1):119–137.CrossrefGoogle Scholar
  • Goes PB, Karuga GG, Tripathi AK (2012) Bidding behavior evolution in sequential auctions: Characterization and analysis. MIS Quart. 36(4):1021–1042.CrossrefGoogle Scholar
  • Gölz S, Hahnel UJJ (2016) What motivates people to use energy feedback systems? A multiple goal approach to predict long-term usage behaviour in daily life. Energy Res. Soc. Sci. 21:155–166.CrossrefGoogle Scholar
  • Guo Z, Koehler GJ, Whinston AB (2012) A computational analysis of bundle trading markets design for distributed resource allocation. Inform. Systems Res. 23(3-part-1):823–843.LinkGoogle Scholar
  • Hahnel UJ, Herberz M, Pena-Bello A, Parra D, Brosch T (2019) Becoming prosumer: Revealing trading preferences and decision-making strategies in peer-to-peer energy communities. Energy Policy 137:111098.CrossrefGoogle Scholar
  • Halu A, Scala A, Khiyami A, González MC (2016) Data-driven modeling of solar-powered urban microgrids. Sci. Adv. 2(1):e1500700.CrossrefGoogle Scholar
  • International Energy Agency (2018) Renewables 2018. Report, International Energy Agency, Paris.Google Scholar
  • Ketter W, Collins J, Saar-Tsechansky M, Marom O (2018) Information systems for a smart electricity grid. ACM Trans. Management Inform. Systems 9(3):1–22.CrossrefGoogle Scholar
  • Klemperer P (2002) What really matters in auction design. J. Econom. Perspect. 16(1):169–189.CrossrefGoogle Scholar
  • Kolb DA (1984) Experiential Learning: Experience as the Source of Learning and Development (FT Press, Upper Saddle River, NJ), https://books.google.de/books?id=jpbeBQAAQBAJ&dq=Kolb+DA+(1984)+Experiential+Learning:+Experience+as+The+Source+of+Learning+and+Development.&lr=&source=gbs_navlinks_s.Google Scholar
  • Koolen D, Ketter W, Qiu L, Gupta A (2017) The sustainability tipping point in electricity markets. Proc. Internat. Conf. Inform. Systems (Association for Information Systems, Atlanta).Google Scholar
  • Lu Y, Gupta A, Ketter W, Heck EV (2016) Exploring bidder heterogeneity in multichannel sequential B2B auctions. MIS Quart. 40(3):1–18.CrossrefGoogle Scholar
  • McAfee RP, Vincent D (1993) Declining price anomaly. J. Econom. Theory 60(1):191–212.CrossrefGoogle Scholar
  • Mengelkamp E, Staudt P, Garttner J, Weinhardt C (2017a) Trading on local energy markets: A comparison of market designs and bidding strategies. Proc. 14th Internat. Conf. Eur. Electricity Market (Institute of Electrical and Electronics Engineers, Piscataway, NJ).Google Scholar
  • Mengelkamp E, Gärttner J, Rock K, Kessler S, Orsini L, Weinhardt C (2017b) Designing microgrid energy markets. A case study: The Brooklyn microgrid. Applied Energy 210:870–880.CrossrefGoogle Scholar
  • Rassenti SJ, Smith VL, Wilson BJ (2003) Discriminatory price auctions in electricity markets: Low volatility at the expense of high price levels. J. Regulatory Econom. 23(2):109–123.CrossrefGoogle Scholar
  • Rosen C, Madlener R (2013) An auction design for local reserve energy markets. Decision Support Systems 56:168–179.CrossrefGoogle Scholar
  • Roth AE (2008) What have we learned from market design? Econom. J. 118(527):285–310.CrossrefGoogle Scholar
  • Siler-Evans K, Azevedo IL, Granger Morgan M, Apt J (2013) Regional variations in the health, environmental and climate benefits of wind and solar generation. Proc. Natl. Acad. Sci. USA 110(29):11768–11773.CrossrefGoogle Scholar
  • Strengers Y (2013) Smart Energy Technologies in Everyday Life: Smart Utopia? (Springer, Berlin).CrossrefGoogle Scholar
  • Tiefenbeck V, Wörner A, Schöb S, Fleisch E, Staake T (2019) Real-time feedback promotes energy conservation in the absence of volunteer selection bias and monetary incentives. Nature Energy 4(1):35–41.CrossrefGoogle Scholar
  • United Nations (2019) Sustainable development goals. Accessed April 8, 2019, https://www.un.org/sustainabledevelopment/sustainable-development-goals/.Google Scholar
  • Wang X, Hu Y (2009) The effect of experience on internet auction bidding dynamics. Marketing Lett. 20:245–261.CrossrefGoogle Scholar
  • Wilcox RT (2000) Experts and amateurs: The role of experience in internet auctions. Marketing Lett. 11(4):363–374.CrossrefGoogle Scholar
  • Wörner A, Ableitner L, Meeuw A, Wortmann F, Tiefenbeck V (2019) Peer-to-peer energy trading in the real world: Market design and evaluation of the user value proposition. Proc. Internat. Conf. Inform. Systems (Association for Information Systems, Atlanta).Google Scholar
INFORMS site uses cookies to store information on your computer. Some are essential to make our site work; Others help us improve the user experience. By using this site, you consent to the placement of these cookies. Please read our Privacy Statement to learn more.