Digital Institutional Transformation of Electronic Trading Platforms in the Field of Public Procurement of the Russian Federation

Purpose: the aim of the article is to calculate the reduction in transaction costs when transferring purchases to electronic format, as well as determine the potential for digitizing the consideration of all requirements for procurement participants.Methods: the study is based on the conceptual provisions of the institutional economic theory, the use of the system approach methodology, the use of survey research methods, and the generalization of expert assessments. The development of the proposed topic is also based on the use of methods of economic and statistical analysis, scientifc abstraction, comparison and scientifc generalizations.Results: as a result of a detailed analysis, the digital transformation electronic trading platforms into the digital trading platforms was substantiated. The paper also shows the role of electronization and digitalization in reducing transaction costs and time spent on customers. It was revealed that the transfer of authority to the electronic trading platforms not only excludes the possibility of errors, unfair and opportunistic behavior of customers, and as a result – the imposition of fnes, but also reduces the time spent on procurement. The main approaches to improving the contract system, building its digital ecosystem, where the necessary actions are performed by the software and hardware complex, and the contract manager only "accompanies" the purchase, are proposed. The article presents the evolution of the use of digital technologies and the corresponding legal regulation in Russia.Conclusions and Relevance: the use of digital technologies in public procurement is becoming a factor causing changes in the contractual system. The electronic form of trading has brought a new reality, opportunities for digital transformation are opening up. The use of automated counterparty verifcation technologies in the activities of electronic trading platforms is a potential factor in reducing transaction costs. In the future, it is possible to use digital technology “big data”, which helps to identify and categorize the necessary information regarding the availability of experience in the execution of similar contracts.

Robust Economic Dispatch of Microgrid With Highly Penetrated Renewables and Energy Storage System

Economic dispatch (ED) of a grid-connected and renewable integrated microgrid is considered in this article. Here, the renewable energy sources (RES) taken into consideration are wind farms. A parameter worst-case-transaction-cost which arises due to the stochastic availability and uncontrollable nature of wind farms is also emphasised and efforts have been taken to minimize it too. Hence, the article focuses on separately optimizing the generation costs and the worst-case transaction costs. It also optimises the net microgrid cost as a whole, which is the summation of generation costs and the worst-case transaction costs. Two different cases with highly varying transaction prices are studied. Various types of loads, ramp rates of generators, charging and discharging limits of the batteries are taken into consideration while minimizing the microgrid cost. Four meta-heuristic soft computing algorithms are applied for optimization and a comparative analysis among them is studied. Numerical results are tabulated to justify the effectiveness of the novel approach.

Smart Contract and Collaborative Platforms

The collaborative economy (CE) involves an intensification of peer-to-peer commerce either directly or through the presence of an intermediary. Collaborative online exchanges are supported by digital processes that involve increased use of new technologies. As an intrinsically connected economy, the EC is therefore inclined to integrate the most recent technological advances, in particular smart contracts. In a recent article, Ertz and Boily raised that this technology can have important impacts for the development of the CE the intensification of exchanges between peers. This chapter consists of a conceptual review analyzing how the CE connects to smart contract technology by observing in particular the motivations of users on digital sharing platforms. The chapter also presents the organizational and managerial implications associated with the implementation of smart contracts in terms of governance, transaction costs, and user trust on collaborative online platforms. A comparison with conventional contracts is also initiated.

Scale-Up Marketing and Export of MSME Products Based on Digital Business at MEK-PDM Gresik

The low quality of Human Resources which ultimately leads to the ineffectiveness of management, organization and technology has made the development of MSMEs in Indonesia unable to touch rapidly. Plus the large transaction costs from the impact of an unfavorable business climate are also a problem for the case of MSMEs fostered by MEK-PDM Gresik, making it difficult to compete in the international market. In fact, the products produced by MSMEs are no less competitive with those produced by foreign products. In fact, to be able to penetrate the global market, MSMEs must at least be able to adapt to the concept of global marketing which is not yet owned by MSME stakeholders. Therefore, in this service, MSME actors will be taught how to market their products globally. Fronted by Dr. Indro Kirono as a performer who previously had a long history in the export world, the service event went more than imagined. Many MSME products were independently assisted by the presenters to be introduced a little in the global market. Gresik UMKM products will also be assisted by the introduction of Gresik Muhammadiyah University. So that Muhammadiyah University of Gresik can become a place for Gresik SMEs to be fostered.