Impacts of suppliers' learning behaviors on market equilibrium under repeated linear supply function bidding

Dianli Xitong Zidonghua/Automation of Electric Power Systems

Volumn 28, Issue 17, 2004, Pages 16-21

  Liu, Youfei ^a   Ni, Yixin ^a  

^a UNIVERSITY OF HONG KONG   (Hong Kong)

Author keywords

Game theory; Linear supply function; Market equilibrium; Power market; Spot market; Strategic bidding

Indexed keywords

COMPUTER SIMULATION; GAME THEORY; INDUSTRIAL ECONOMICS; MATHEMATICAL MODELS;

LINEAR SUPPLY FUNCTION; MARKET EQUILIBRIUM; POWER MARKET; SPOT MARKET; STRATEGIC BIDDING;

ELECTRIC POWER SYSTEMS;

EID: 8644260060     PISSN: 10001026     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Article

References (24)

1. Shahidehpour Mohammad, Almoush Muwaffaq. Restructured Electrical Power Systems: Operation, Trading and Volatility. New York: Marcel Dekker Inc, 2001
2. Rudkevich A, Duckworth M, Rosen R. Modeling Electricity Pricing in a Deregulated Generation Industry: The Potential for Oligopoly Pricing in a Poolco. Energy Journal, 1998, 19(3): 19-48
3. Berry C A, Hobbs B F, Meroney R P, et al. Understanding How Market Power Can Arise in Network Competition: A Game Theoretic Approach. Utilities Policy, 1999, 8(3): 139-158
4. Green R J, Newbery D M. Competition in the British Electricity Spot Market. Journal of Political Economy, 1992, 100(5): 929-953
5. David A K. Competitive Bidding in Electricity Supply. IEE Proceedings - Circuits, Devices and Systems, 1993, 140(5): 421-426
6. David A K, Wen Fushuan. Strategic Bidding in Competitive Electricity Markets: A Literature Survey. In: Proceedings of IEEE PES 2000 Summer Power Meeting, Vol 4. Piscataway (NJ): IEEE, 2000. 2168-2173
7. Gross G, Finlay D J. Optimal Bidding Strategies in Competitive Electricity Markets. In: Proceedings of 12th Power System Computation Conference (PSCC'96). Dresden (Germany): 1996. 815-823
8. Hao S. A Study of Basic Bidding Strategy in Clearing Pricing Auctions. IEEE Trans on Power Systems, 2000, 15(8): 975-980
9. Ferrero R W, Rivera J F, Shahidehpour S M. Application of Games with Incomplete Information for Pricing Electricity in Deregulated Power Pools. IEEE Trans on Power System, 1998, 13(2): 184-189
10. Guan X, Ho Y C, Pepyne D L. Gaming and Price Spikes in Electric Power Markets. IEEE Trans on Power System, 2001, 16(8): 402-408
11. Park J B, Kim B H, Jung M H, et al. A Continuous Strategy Game for Power Transactions Analysis in Competitive Electricity Markets. IEEE Trans on Power Systems, 2001, 16(11): 847-855
12. Richter Jr C W, Shebl G B, Ashlock D. Comprehensive Bidding Strategies with Genetic Programming/Finite State Automata. IEEE Trans on Power Systems, 1999, 14(11): 1207-1212
13. Song H, Liu C C, Lawarree J. Nash Equilibrium Bidding Strategies in a Bilateral Electricity Market. IEEE Trans on Power Systems, 2002, 17(2): 73-79
14. Song H, Liu C C, Lawarree J, et al. Optimal Electricity Supply Bidding by Markov Decision Process. IEEE Trans on Power Systems, 2000, 15(5): 618-624
15. Zhang D, Wang Y, Luh P B. Optimization Based Bidding Strategies in the Deregulated Market. IEEE Trans on Power Systems, 2000, 15(8): 981-986
16. Wen F, David A K. Optimal Bidding Strategies and Modeling of Imperfect Information Among Competitive Generators. IEEE Trans on Power Systems, 2001, 16(2): 15-21
17. Guan X, Ho Y C, Lai F. An Ordinal Optimization Based Bidding Strategy for Electric Power Suppliers in the Daily Energy Market. IEEE Trans on Power Systems, 2001, 16(11): 788-797
18. Green R J. Increasing Competition in the British Electricity Spot Market. The Journal of Industrial Economics, 1996, 44(2): 205-216
19. Rudkevich A. Supply Function Equilibrium in Power Markets: Learning All the Way. TCA Technical Paper 1299-1702 (1999-12-22). http://www.tca-us.com
20. Baldick R, Grant R, Kahn E. Linear Supply Function Equilibrium: Generalizations, Applications, and Limitations. University of California Energy Institute POWER Paper PWP-078 (2000-08). http://www.uce.berkeley.edu/PDF/pwp078.pdf
21. Hogan W W, Baldick R. Capacity Constrained Supply Function Equilibrium Models of Electricity Markets: Stability, Nondecreasing Constraints, and Function Space Iterations. University of California Energy Institute POWER Paper PWP-089. http://www.ucei.berkeley.edu/PDF/pwp083.pdf
22. Liu Youfei, Ni Y X, Wu F F. Existence and Uniqueness of Linear Supply Function Equilibrium in Electricity Markets. In: Proceedings of IEEE GM2004. Denver (USA): 2004
23. Klemperer P D, Meyer M A. Supply Function Equilibria in Oligopoly Under Uncertainty. Econometrica, 1989, 57(6): 1243-1277
24. Weber J D, Overbye T J. A Two-level Optimization Problem for Analysis of Market Bidding Strategies. In: IEEE PES Summer Meeting, Vol 2. Edmonton (Canada): 1999. 682-687