Dynamic noncooperative game models for deregulated electricity markets / Jose B. Cruz, Jr. and Xiaohuan Tan.

Format:

Book

Author/Creator:

Cruz, Jose B. (Jose Behar), 1932-

Contributor:

Tan, Xiaohuan.

Language:

English

Subjects (All):

Electric utilities--Mathematical models.

Electric utilities.

Noncooperative games (Mathematics).

Physical Description:

1 online resource (121 p.)

Edition:

1st ed.

Place of Publication:

Hauppauge N,Y, : Nova Science Publisher, c2009.

Language Note:

English

Summary:

The deregulated electricity markets are expected to be perfectly competitive, yet they remain oligopolistic in which the market participants are able to exercise market power to "game" the markets. Game theory, by its nature, is considered as the appropriate framework to study the interactive behaviours of decision makers with conflict of interest. Substantial research has been devoted to study gaming behaviour in the deregulated electricity market using game theory. However, most of the modelling of the markets is static and this type of model leads to non-optimal results for long-term strategic planning due to the inherent dynamic nature of the market. This book formulates and describes the gaming behaviour in the deregulated electricity market from a dynamic point of view, considering long-term interests in a changing environment. It starts with a review of the current situation of deregulation and a brief review of near-term energy issues. The book includes the latest results on bidding dynamic strategies for such markets.

Contents:

Restructuring in the electricity industry

Game theory and strategic bidding

Adaptation for N-person games

Sensitivity analysis of uncertainties

Price strategies in mixed-strategy solutions

Conclusion.

Notes:

Description based upon print version of record.

Includes bibliographical references (p. [85]-98) and index.

ISBN:

1-61122-343-1

OCLC:

669509338