Title :
Non-smooth Agent-based Dynamics of Strategic Bidding with Linear Supply Function
Author :
Ancheng, Xue ; Yiguang, Hong
Author_Institution :
Chinese Acad. of Sci., Beijing
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;
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
DOI :
10.1109/CHICC.2006.4347295
