A coevolutionary approach to modeling oligopolistic electricity markets

H. Chen, K. P. Wong, X. Wang, C. Y. Chung

Research output: Chapter in book / Conference proceedingConference article published in proceeding or bookAcademic researchpeer-review

7 Citations (Scopus)

Abstract

A coevolutionary approach to modeling oligopolistic electricity markets is presented in this paper. Two different market models: the Cournot model and the Supply Function Equilibrium (SFE) model are used for analysis. Different parametrization cases of the supply function are investigated and the results are compared with the Cournot-Nash equilibrium. An example based on the cost data from the actual electricity industry is used to validate the approach presented in this paper. Simulation results show that the revolutionary approach converges to the Nash equilibria rapidly in all cases and is highly efficient in market simulation. The approach shows great potentials for practical electricity market analysis.

Original languageEnglish
Title of host publication2005 IEEE Power Engineering Society General Meeting
Pages230-235
Number of pages6
Publication statusPublished - Jun 2005
Event2005 IEEE Power Engineering Society General Meeting - San Francisco, CA, United States
Duration: 12 Jun 200516 Jun 2005

Publication series

Name2005 IEEE Power Engineering Society General Meeting
Volume1

Conference

Conference2005 IEEE Power Engineering Society General Meeting
Country/TerritoryUnited States
CitySan Francisco, CA
Period12/06/0516/06/05

Keywords

  • Coevolutionary computation
  • Cournot oligopoly
  • Market simulation
  • Supply function equilibrium

ASJC Scopus subject areas

  • General Engineering

Fingerprint

Dive into the research topics of 'A coevolutionary approach to modeling oligopolistic electricity markets'. Together they form a unique fingerprint.

Cite this