Instruct: Identify the main and secondary category of Arxiv papers based on the titles and abstracts
Query: Incentivizing Truth-Telling in MPC-based Load Frequency Control   We present a mechanism for socially efficient implementation of model
predictive control (MPC) algorithms for load frequency control (LFC) in the
presence of self-interested power generators. Specifically, we consider a
situation in which the system operator seeks to implement an MPC-based LFC for
aggregated social cost minimization, but necessary information such as
individual generators' cost functions is privately owned. Without appropriate
monetary compensation mechanisms that incentivize truth-telling,
self-interested market participants may be inclined to misreport their private
parameters in an effort to maximize their own profits, which may result in a
loss of social welfare. The main challenge in our framework arises from the
fact that every participant's strategy at any time affects the future state of
other participants; the consequences of such dynamic coupling has not been
fully addressed in the literature on online mechanism design. We propose a
class of real-time monetary compensation schemes that incentivize market
participants to report their private parameters truthfully at every time step,
which enables the system operator to implement MPC-based LFC in a socially
optimal manner.

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The categories of this paper are: hep-ph
4
The categories of this paper are: cond-mat
23
The categories of this paper are: solv-int
35
The categories of this paper are: mtrl-th
17
The categories of this paper are: q-fin
1
The categories of this paper are: cs
33
The categories of this paper are: plasm-ph
9
The categories of this paper are: nlin
29
The categories of this paper are: funct-an
6
The categories of this paper are: astro-ph
11
The categories of this paper are: hep-lat
20
The categories of this paper are: acc-phys
16
The categories of this paper are: stat
5
The categories of this paper are: gr-qc
19
The categories of this paper are: eess
22
The categories of this paper are: chao-dyn