Title :
Optimal Strategies for Multiple Participants in Electricity Markets
Author :
Khodayar, Mohammad E. ; Shahidehpour, Mohammad
Author_Institution :
Southern Methodist Univ., Dallas, TX, USA
Abstract :
This letter presents the solution framework for calculating multi-participant Nash equilibria in a transmission-constrained electricity market. The proposed framework, which is generally applicable to various gaming conditions in electricity markets, is used here for non-cooperative complete information game between market participants with discrete bidding strategies. The example in this letter shows the effectiveness of the proposed framework in finding the Nash equilibrium.
Keywords :
game theory; minimax techniques; power markets; tendering; discrete bidding strategies; maxmin strategies; multiparticipant Nash equilibria calculation; noncooperative complete information game; transmission-constrained electricity market; Electronic mail; Games; Indexes; Nash equilibrium; Power markets; Power systems; Bidding strategy in electricity markets; Nash equilibrium; non-cooperative game;
Journal_Title :
Power Systems, IEEE Transactions on
DOI :
10.1109/TPWRS.2013.2288020
