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Due to vested interests and bureaucratic momentum, smart markets have historically been nearly impossible to implement once a different system is in place.
Waiting for problems to emerge that smart markets would likely solve, like congestion or over-regulation, is not the best path forward.
Electric smart markets use a computer program to allow the cheapest power to be delivered from the plants best able to offer it.
It is expected that electricity loads will serve self-supply and assist with grid stability and, moreover, cause new markets to flourish, so that every actor equipped with technology for photovoltaics, wind, combined heat and power, or geothermal applications, etc., can act as an electricity vendor for "virtual power plants" and "smart markets" ([2, 7], e.g., [63, 67]).
Given that parts may be more or less smart, markets more or less complex, and self-organizing CALS systems probabilistically subject to the bullwhip effect, we suggest nine different computational CALS market-design options, offering more adaptivity to unexpected environmental contingencies.
Smart markets are already widely used, and include such diverse examples as how advertisers bid to place ads through Google's AdWords and the Australian government's BushTender, an auction for protecting and improving native vegetation on private land.
Similar(54)
It is smart marketing, too.
Still, she said, it could be a smart marketing opportunity.
It was a classic example of smart market design.
Chumby's nods to openness are certainly smart marketing.
(It was also a smart marketing stunt, though Green could not have predicted how smart).
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