Efficient Mechanism for Aggregate Demand Prediction in the Smart Grid

@inproceedings{Egri2013EfficientMF,
  title={Efficient Mechanism for Aggregate Demand Prediction in the Smart Grid},
  author={P{\'e}ter Egri and J{\'o}zsef V{\'a}ncza},
  booktitle={MATES},
  year={2013}
}
This paper studies an aggregate demand prediction problem relevant in smart grids. In our model, an aggregator agent is responsible for eliciting the demand forecasts of a number of self-interested home agents and purchasing electricity for them. Forecasts are given in form of probability distributions, and generating them incurs costs proportional to their precision. The paper presents a novel scoring rule based mechanism which not only makes the agents interested in reporting truthfully, but… CONTINUE READING

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