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

Kód výsledku v 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>

Výsledek na webu

<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>

Jazyk výsledku

angličtina

Název v původním jazyce

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

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

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

Popis výsledku anglicky

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.

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

CEP obor

JA - Elektronika a optoelektronika, elektrotechnika

OECD FORD obor

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Projekt

<a href="/cs/project/ED2.1.00%2F03.0094" target="_blank" >ED2.1.00/03.0094: Regionální inovační centrum elektrotechniky (RICE)</a><br>

Návaznosti

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

Rok uplatnění

2016

Kód důvěrnosti údajů

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

Název periodika

Optimization : a Journal of Mathematical Programming and Operations Research

ISSN

0233-1934

e-ISSN

—

Svazek periodika

65

Číslo periodika v rámci svazku

9

Stát vydavatele periodika

GB - Spojené království Velké Británie a Severního Irska

Počet stran výsledku

27

Strana od-do

1-27

Kód UT WoS článku

—

EID výsledku v databázi Scopus

2-s2.0-84988430419