Contracts and related concepts

[litotes18]

Description of the issue

Related to issue #256.
Here are some new concepts with preliminary definitions or explanations.

Ideas of solution

Contract: (Legally) binding agreement establishing rights and duties between parties.
Delivery time: the amount of time that it takes for goods that have been bought to arrive at the place where they are wanted
Sender: the sender is the party who initiates the communication
Receiver: the receiver is the party who gets information from the sender
PriceRequest: request for a price (e.g. fuel); or: solicitation for goods or services in which a company invites vendors to submit price quotes and bid on the job
MarginalCost: marginal cost is the change in the total cost that arises when the quantity produced is incremented by one unit; that is, it is the cost of producing one more unit of a good
Bid: A bid is an offer made by an investor, trader, or dealer in an effort to buy a security, commodity, or currency. A bid stipulates the price the potential buyer is willing to pay, as well as the quantity he or she will purchase, for that proposed price.
Award: signifies that a supplier for a particular good (bid) has been selected
Dispatch assignment: The term ‘dispatch’ refers to resource planning at a power plant by the plant’s operator.
Power plant portfolio: the particular combination or mix of different power plants, e.g. renewables and fossil plants within one business unit or company or trader.

Workflow checklist

• [x ] I discussed the issue with someone else than me before working on a solution
• [x ] I already read the latest version of the workflow for this repository
• I added this issue to the Project 'Issues'. If suitable, I add it to further Projects.
• [x ] The goal of this ontology is clear to me

I am aware that

• every entry in the ontology should have a definition
• classes should arise from concepts rather than from words

[sfluegel05]

From dev-meeting 8.3:
Definition of price request: A price request is a request in which an agent asks another agent for a price.
Definition of request (taken from fibo, adapted): A request is an process whereby an agent asks another agent for something or to do something.

Definition of marginal cost (from O'Sullivan, Arthur; Sheffrin, Steven M. (2003). Economics: Principles in Action. via wikipedia): Marginal cost is the change in the total cost that arises when the quantity produced is incremented by one unit; that is, it is the cost of producing one more unit of a good.
There are other relevant terms related to this one, e.g. OPEX, CAPEX. See also #268

Definition of contract (taken from fibo, we left out the "voluntary" part intentionally because it does not fit for certain types of contracts, e.g. contracts with default providers of electricity): A contract is a document that contains an agreement between two or more competent agents to which those agents agree to be legally bound.

[stap-m]

@jannahastings how is the state of this issue? What is needed to implement contract, too?

What about the rest of the terms?

[l-emele]

Issue #307 deals with similar/same concepts. There we had the following graph:
Maybe that helps solving this issue.

[sfluegel05]

This issue covers a lot of different topics. Maybe we should implement the concepts that have already been discussed (request, price request, marginal cost and contract) now and open new issues for the rest.

[l-emele]

I am okay with implementing request, price request, marginal cost and contract now.

[stap-m]

@han-f can you comment on this, please?

[han-f]

For me the definitions above read fine. However, aren't price request and marginal cost already implemented? I can see both in Protege referring to pull request #642

Then, only request and contract would need to be implemented.

[sfluegel05]

That's right. Then I'll implement request and contract.

[han-f]

Status today to follow up upon: see notes from meeting on 2021-06-25: https://etherpad.wikimedia.org/p/oeo-dev-markets

[sfluegel05]

Still missing after the meeting on markets:

• dispatch assignment
• power plant portfolio

[sfluegel05]

In dev meeting 20, we agreed on the following:

• power plant portfolio: A power plant portfolio is an information content entity that describes a particular combination or mix of different power plants, e.g. renewables and fossil plants within one business unit or company or trader.
• dispatch assignment: Dispatch assignment is a plan specification that refers to resource planning at a power plant (usually by the plant’s operator).