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Subject: Advertising (for WD10)

We have been dancing around the problem of in special circumstances [broadcasting] a price to [all] participants in a market.

Some implementations may let all actors see all tenders. This generally prevents the market from working. A market is a way to generate optimum asset allocation by crowdsourcing value. If everybody knows every other tender, then low tenders and high tenders will be purged from the market. The deficiencies of markets in which almost all  are pure price-takers have been well known, and have many articles have identified this model as a flaw in many early steps toward TE.

Making every tender public also has some bad effects on privacy--for a discussion of that, look to the new material in Appendix B.

That said, there is a time when an Actor wants or needs to announce its intentions, particularly to address urgent issues. 

An actor has its energy planned for tomorrow based on site-based storage, site-based renewable generation, site-based traditional generation, and anticipated usage. Goats broke into the solar field and danced on the Solar Panels last night. The diesel generator requires emergency maintenance. The factory has to shut down, and it now has too much energy and wants to sell, at any price. 

We see these communications in non-energy traditional markets. Inventory sale--all furniture is 50% off. The new car inventory came in and the lot is full, no reasonable offer will be refused. These communications are named advertising.

We have been dancing around notifications. We have looked to flags on tenders claiming they are public. Whichever facet they are in, I propose we use the term Advertising in the specification. We can call the messages whatever we want, but the prose should make the purpose clear.

I do not care if this falls into the new section 13 (Market Information Facet—Quotes and Tickers becomes Market Information Facet—Quotes and Tickers and Advertising) or gets its own section. I think the narrative would be clearer.

(it is noteworthy that Dr. Chassin's ramping market, if needed, could work precisely as he describes but under the umbrella of Advertised Tenders.)

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