Non-smooth Agent-based Dynamics of Strategic Bidding with Linear Supply Function

Author

Ancheng, Xue ; Yiguang, Hong

Author_Institution

Chinese Acad. of Sci., Beijing

fYear

2007

Firstpage

742

Lastpage

746

Abstract

In the studies of strategic bidding solutions for multiple players to compete in a centralized electricity market, the existence of multiple/single market equilibria has been verified and analyzed with specific system constraints for the market optimization. In this paper, the dynamics resulting from line capacity constraints on a two-agent strategic bidding is focused on in light of linear supply function model in centralized electricity markets. Global attractors for this non-smooth bidding model in different cases are analyzed in order to help the two generators make bidding regulation.

Keywords

commerce; optimisation; power markets; centralized electricity market; global attractors; line capacity constraints; linear supply function; market optimization; multiple players; multiple-single market equilibria; nonsmooth agent-based dynamics; nonsmooth bidding model; strategic bidding; two-agent strategic bidding; Centralized control; Constraint optimization; Control systems; Cost function; Electricity supply industry; ISO; Nash equilibrium; Power system dynamics; Power system modeling; Power system stability; Linear Supply Function; Nash Equilibrium; Non-smooth Dynamics; Period-4 Attractor; Strategic Bidding;

fLanguage

English

Publisher

ieee

Conference_Titel

Control Conference, 2007. CCC 2007. Chinese

Conference_Location

Hunan

Print_ISBN

978-7-81124-055-9

Electronic_ISBN

978-7-900719-22-5

Type

conf

DOI

10.1109/CHICC.2006.4347295

Filename

4347295