• DocumentCode
    2675390
  • Title

    Behavioral game model and evolutionary analysis in electricity market

  • Author

    Shao, K. ; Wang, R. ; Zhou, X.Y.

  • Author_Institution
    Dept. of Math., Huazhong Univ. of Sci. & Technol., Hubei
  • fYear
    0
  • fDate
    0-0 0
  • Abstract
    In this paper, we review the behavior of suppliers with different level of rationality. The problem of how to bring electricity market a potential behavior risk is investigated using behavior game theory. First, a behavior automata network model is developed on the condition that the rationality is taken as a variable. Then, a class of learning rules, such as Cournot and extended Cournot adjustment is discussed, which are different behavior variable values. The results of evolutionary experiments indicate that the variables may bring a great diversity of prediction to the market, which means that the market may face a potential risk coming from the rationality of the power suppliers. Therefore, it is important to reduce the diversity by introducing an anti market power. An artificial elasticity method is proposed then for this reason. As an improvement of price cap strategy, the method introduces an artificial elasticity to the oligopolistic competition market and it also induces the suppliers to change their behavior of high bidding. The results of evolutionary experiments show that the method and model are effective
  • Keywords
    evolutionary computation; game theory; power markets; risk analysis; artificial elasticity method; automata network model; behavior game theory; behavioral game model; electricity market; evolutionary analysis; evolutionary experiments; extended Cournot adjustment; oligopolistic competition market; potential behavior risk; power suppliers; price cap strategy; Economic forecasting; Elasticity; Electric potential; Electricity supply industry; Game theory; Intelligent networks; Learning automata; Mathematics; Power generation economics; Power supplies; Artificial Elasticity; Automata Network; Behavioral Game; Bounded Rationality; Electricity Market; Extended Cournot Adjust;
  • fLanguage
    English
  • Publisher
    ieee
  • Conference_Titel
    Power Engineering Society General Meeting, 2006. IEEE
  • Conference_Location
    Montreal, Que.
  • Print_ISBN
    1-4244-0493-2
  • Type

    conf

  • DOI
    10.1109/PES.2006.1709081
  • Filename
    1709081