Title :
A novel method of decision-making for power companies using fuzzy sets
Author :
Feixiong, Hu ; Yongping, Zhang ; Yixin, Ni ; Shousun, Chen
Author_Institution :
Dept. of Electr. Eng., Tsinghua Univ., Beijing, China
Abstract :
This paper presents a novel method using fuzzy sets to estimating the bidding. strategies of competitors and to dealing with the vague environment. Firstly a general model is proposed. Then fuzzy tools will be used to estimate other competitors´ bidding strategy and the vague environment. After that, a simple 2 participants example is given to illustrate the model. And the results are compared with the results got in a perfect information environment and show that fuzzy sets can be used to solve the information-lack problem in power markets.
Keywords :
decision making; fuzzy set theory; power generation economics; power markets; 2 participants example; bidding strategies; competitors; decision-making; fuzzy sets; fuzzy tools; information environment; information-lack problem; power companies; power markets; Cost function; Decision making; Electricity supply industry; Environmental economics; Fuzzy logic; Fuzzy set theory; Fuzzy sets; Power generation economics; Power markets; Uncertainty;
Conference_Titel :
Power System Technology, 2002. Proceedings. PowerCon 2002. International Conference on
Print_ISBN :
0-7803-7459-2
DOI :
10.1109/ICPST.2002.1067753
