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Nash equilibrium in a pay-as-bid electricity market. Part 2 : best response of a producer

The result's identifiers

  • Result code in IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F49777513%3A23220%2F16%3A43926334" target="_blank" >RIV/49777513:23220/16:43926334 - isvavai.cz</a>

  • Result on the web

    <a href="http://www.tandfonline.com/doi/full/10.1080/02331934.2016.1227982" target="_blank" >http://www.tandfonline.com/doi/full/10.1080/02331934.2016.1227982</a>

  • DOI - Digital Object Identifier

    <a href="http://dx.doi.org/10.1080/02331934.2016.1227982" target="_blank" >10.1080/02331934.2016.1227982</a>

Alternative languages

  • Result language

    angličtina

  • Original language name

    Nash equilibrium in a pay-as-bid electricity market. Part 2 : best response of a producer

  • Original language description

    We consider a multi-leader-common-follower model of a pay-as-bid electricity market in which the producers provide the regulator with either linear or quadratic bids.We prove that for a given producer only linear bids canmaximize his profit. Such linear bids are referred as the 'best response' of the given producer. They are obtained assuming the demand is known and some estimate of the bids of the other producers is available. Nevertheless we also show that whenever no best response exists, the optimal profit can be asymptotically attained by a sequence of quadratic bids converging to the so-called 'limiting best response'. An explicit formula for such a sequence is provided.

  • Czech name

  • Czech description

Classification

  • Type

    J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)

  • CEP classification

    JA - Electronics and optoelectronics

  • OECD FORD branch

Result continuities

  • Project

    <a href="/en/project/ED2.1.00%2F03.0094" target="_blank" >ED2.1.00/03.0094: Regional Innovation Centre for Electrical Engineering (RICE)</a><br>

  • Continuities

    P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Others

  • Publication year

    2016

  • Confidentiality

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Data specific for result type

  • Name of the periodical

    Optimization : a Journal of Mathematical Programming and Operations Research

  • ISSN

    0233-1934

  • e-ISSN

  • Volume of the periodical

    65

  • Issue of the periodical within the volume

    9

  • Country of publishing house

    GB - UNITED KINGDOM

  • Number of pages

    27

  • Pages from-to

    1-27

  • UT code for WoS article

  • EID of the result in the Scopus database

    2-s2.0-84988430419