Economic evaluation and state time-delayed feedback chaos control of dynamic supply function model in power market

Author

Zhang, M. ; Yang, H.M. ; Yang, D.L. ; Lai, M.Y. ; Zhang, Y.X.

Author_Institution

Coll. of Electr. & Inf. Eng., Changsha Univ. of Sci. & Technol., Changsha, China

fYear

2010

fDate

8-10 Sept. 2010

Firstpage

34

Lastpage

39

Abstract

The dynamic supply function model considering the decision-marking of market participants and transmission constrains of power network in power market is established. The different dynamic behaviors are analyzed, such as Nash equilibrium, period and chaos. With the average profit as the economic evaluation index, the economic performances of dynamic behaviors in the states of Nash equilibrium, period and chaos are analyzed and compared for three-node power market. Among them, the optimal performance appears in the state of Nash equilibrium. In view of the chaotic behaviors in power market, the state time-delayed feedback chaos control method is proposed. Finally, by means of the proposed control method, the chaotic state is controlled to the stable equilibrium point so that the economic performance of dynamic power market is effectively improved.

Keywords

chaos; decision making; delays; distribution networks; feedback; game theory; power markets; Nash equilibrium; dynamic supply function model; economic evaluation; power market; state time-delayed feedback chaos control; Biological system modeling; Chaos; Nash equilibrium; Power markets; Stability criteria; Chaos; Nash equilibrium; dynamic supply function; power market; state time-delayed feedback control;

fLanguage

English

Publisher

ieee

Conference_Titel

Electrical Engineering Computing Science and Automatic Control (CCE), 2010 7th International Conference on

Conference_Location

Tuxtla Gutierrez

Print_ISBN

978-1-4244-7312-0

Type

conf

DOI

10.1109/ICEEE.2010.5608595

Filename

5608595