Demand Response (DR) is an approach that allows electricity users to actively participate in keeping supply-demand balance in power systems, or its future version, smart grid, in order to increase the system efficiency, lower consumers' electricity bills, and thus improve social welfare. To encourage users' participation in DR, a time-varying...
This dissertation develops and estimates a dynamic model of consumer choice behavior in markets for seasonal (short lifecycle) goods where products have a finite selling season, consumer valuations change over time and availability is limited. In these markets, retailers often use dynamic markdown policies in which an initial retail price...