Equilibrium values in a competitive power exchange market

被引：14

作者：

Supatgiat C. ^{[1
]}

Zhang R.Q. ^{[1
]}

Birge J.R. ^{[1
,2
]}

机构：

[1] Department of Industrial and Operations Engineering, University of Michigan, Ann Arbor, MI

[2] Robert R. McCormick School of Engineering and Applied Science, Northwestern University, Evanston, IL

来源：

Computational Economics | 2001年 / 17卷 / 01期

基金：

美国国家科学基金会;

关键词：

Bidding; Electric power; Nash equilibrium;

D O I：

10.1023/A:1011274413023

中图分类号：

学科分类号：

摘要：

We consider an open electricity market with demand uncertainty. In this market, the generators each decide on a bidding price to maximize profit. Units are dispatched in order of the bid from lowest to highest until demand is satisfied. The market clearing price is the highest bid among the dispatched units. All dispatched units are then sold at this market clearing price. Under a market stability assumption, we derive Nash equilibrium solutions, i.e., bidders' optimal bidding strategies and the resulting market clearing price.

引用

页码：93 / 121

页数：28

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