Simulating Power Suppliers Behavior in Electricity Market
This paper explores what will bring to the electricity market if power suppliers make changes in decision making rules. In the repeated bidding process, it is assumed that any power supplier can choose to bid based on Cournot adjustment learning as usual, or to make a change in his decision making rule such as bidding with his marginal cost or choosing the highest strategy at any stage. Simulation results show some colorful phenomena and indicate the changes in decision making rule can bring diversity to the market. Therefore, rule designers of electricity markets must design corresponding rules to reduce the risks of the market before its operation.
electricity market repeated game bounded rationality Cournot adjustment learning game learning theory intelligent agent
Xiuming Dong Tiesong Hu Xinjie Li
State Key Laboratory of Water Resources and Hydropower Engineering Science Wuhan University Wuhan, China
国际会议
杭州
英文
390-393
2012-10-28（万方平台首次上网日期，不代表论文的发表时间）