Title :
Application of Bayesian Balance for Biding in Power Projects
Author :
Wei Li ; Yanjiao Ji ; Lihong Cai
Author_Institution :
North China Electr. Power Univ., Baoding, China
Abstract :
The method of game theory is applied to study the best offer of power projects and analysis the best linear strategy of our and the other bidders´ offer, then the best linear strategy of our offer is obtained. It proofs that the best offer strategy of the bidders is not only relying on its own costs, but also affected by the other bidders´ offer. Therefore, in order to win a bid in power projects, we are not only considering our own costs, but also striving to obtain as much information as possible in the tender offer process, and then the other bidders´ costs distribution and offer range must be fully understood.
Keywords :
Bayes methods; game theory; marketing; power plants; Bayesian Balance; bidding; game theory; linear strategy; power projects; Bayesian methods; Costs; Databases; Game theory; Law; Legal factors; Power generation economics; Power markets; Power system economics; Qualifications; Bayesian Balance; Bidding; Power Project;
Conference_Titel :
Database Technology and Applications, 2009 First International Workshop on
Conference_Location :
Wuhan, Hubei
Print_ISBN :
978-0-7695-3604-0
DOI :
10.1109/DBTA.2009.19
