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10 The expected profit of firm i is E{ΠiS }∗ = 4c(2m − (2 + a)p)2 + 9(2 + a)2 p2 t . 144ct Recapitulating, increasing uncertainty leads to decreasing output, decreasing emissions and decreasing permit holdings. Lower outputs cause a higher product price, affecting consumers’ surplus in a negative way. Lower emissions represent overly high investments in emissions abatement compared to the abatement costs-minimizing solution. Thus, the regulator should be interested in reducing uncertainty in an emissions trading system.

As a use case, it was shown how such a policy framework can be applied for the formal modeling of a provider’s pricing policies as well as requester preferences. We believe that expressing the relations between product/service configurations and prices or the willingness to pay is crucial in electronic markets for configurable trading objects. To the best of our knowledge, there are no formal, declarative and standard-based languages available yet that provide sufficient expressivity to support this.

Ashley, P. et al. org/Submission/EPAL. , D. Calvanese, D. McGuinness, D. Nardi, and P. F. ) (2003): The Description Logic Handbook: Theory Implementation and Applications, Cambridge University Press. Bichler, M. and J. Kalagnanam (2005): “Configurable offers and winner determination in multi-attribute auctions,” European Journal of Operational Research, 160(2), pp. 380–394. Biron, P. V. and A. Malhotra (2000): “XML Schema Part 2: Datatypes,” W3C Recommendation. org/TR/xmlschema-2/. Boutilier, C.

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