Title :
Delayed Dynamic Model for Electric Power Bidding in Oligopoly Market
Author :
Zhang, Xinhua ; Chen, Feng
Author_Institution :
Sch. of Economic & Manage., Changsha Univ. of Sci. & Technol., Changsha
Abstract :
Based on the bounded rational dynamics and adaptive dynamics,this paper presents power producer bidding Cournot model, bidding dynamic model and delayed bidding dynamic model respectively, analyzes the stable region, bifurcation and chaos of bidding dynamic models by simulation method and compares stable regions of the two dynamic bidding models and the average revenue of power producer.The results indicate that delayed dynamic model is conductive to maintain system stability, but it does not bring power producer additional revenue except from bifurcation state.
Keywords :
oligopoly; power markets; Cournot model; adaptive dynamics; bifurcation; bounded rational dynamics; chaos; delayed dynamic model; electric power bidding; oligopoly market; power producer.The; system stability; Bifurcation; Cost function; Delay; Electricity supply industry; Energy management; Game theory; Oligopoly; Power generation economics; Power system modeling; Technology management;
Conference_Titel :
Power and Energy Engineering Conference, 2009. APPEEC 2009. Asia-Pacific
Conference_Location :
Wuhan
Print_ISBN :
978-1-4244-2486-3
Electronic_ISBN :
978-1-4244-2487-0
DOI :
10.1109/APPEEC.2009.4918253
