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- Publisher Website: 10.1109/PES.2005.1489314
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Conference Paper: Existence & uniqueness of consistent conjectural variation equilibrium in electricity markets
Title | Existence & uniqueness of consistent conjectural variation equilibrium in electricity markets |
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Authors | |
Keywords | Consistent conjecture variation Electricity markets Existence & uniqueness Oligopoly |
Issue Date | 2005 |
Publisher | IEEE. |
Citation | IEEE Power Engineering Society General Meeting, San Francisco, California, USA, 12-16 June 2005, v. 1, p. 314-319 How to Cite? |
Abstract | The real electricity markets are usually oligopoly, where market suppliers (generators) will have some market power and can adopt strategic bidding strategies for maximum profits. Generally, the game-theory based methods are the natural way to analyze the market equilibrium and study the strategic behaviors. As a widely studied method in game theory, the conjecture variation technique is reported to model the strategic behavior in deregulated electricity markets recently. Unfortunately, the conjecture variation models have been criticized for the drawback of logical inconsistence and abundant equilibria. Aim for this, the existence and uniqueness of consistent conjectural variation equilibrium in the electricity markets are investigated. Due to some good characteristics of electricity markets and using an infinite horizon optimization model, it is shown that the consistent conjecture variation will satisfy a coupled nonlinear equation system and there is only one equilibrium. © 2005 IEEE. |
Persistent Identifier | http://hdl.handle.net/10722/45796 |
References |
DC Field | Value | Language |
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dc.contributor.author | Liu, Y | en_HK |
dc.contributor.author | Ni, YX | en_HK |
dc.date.accessioned | 2007-10-30T06:35:39Z | - |
dc.date.available | 2007-10-30T06:35:39Z | - |
dc.date.issued | 2005 | en_HK |
dc.identifier.citation | IEEE Power Engineering Society General Meeting, San Francisco, California, USA, 12-16 June 2005, v. 1, p. 314-319 | en_HK |
dc.identifier.uri | http://hdl.handle.net/10722/45796 | - |
dc.description.abstract | The real electricity markets are usually oligopoly, where market suppliers (generators) will have some market power and can adopt strategic bidding strategies for maximum profits. Generally, the game-theory based methods are the natural way to analyze the market equilibrium and study the strategic behaviors. As a widely studied method in game theory, the conjecture variation technique is reported to model the strategic behavior in deregulated electricity markets recently. Unfortunately, the conjecture variation models have been criticized for the drawback of logical inconsistence and abundant equilibria. Aim for this, the existence and uniqueness of consistent conjectural variation equilibrium in the electricity markets are investigated. Due to some good characteristics of electricity markets and using an infinite horizon optimization model, it is shown that the consistent conjecture variation will satisfy a coupled nonlinear equation system and there is only one equilibrium. © 2005 IEEE. | en_HK |
dc.format.extent | 616124 bytes | - |
dc.format.extent | 11910 bytes | - |
dc.format.mimetype | application/pdf | - |
dc.format.mimetype | text/plain | - |
dc.language | eng | en_HK |
dc.publisher | IEEE. | en_HK |
dc.relation.ispartof | 2005 IEEE Power Engineering Society General Meeting | en_HK |
dc.rights | ©2005 IEEE. Personal use of this material is permitted. However, permission to reprint/republish this material for advertising or promotional purposes or for creating new collective works for resale or redistribution to servers or lists, or to reuse any copyrighted component of this work in other works must be obtained from the IEEE. | - |
dc.subject | Consistent conjecture variation | en_HK |
dc.subject | Electricity markets | en_HK |
dc.subject | Existence & uniqueness | en_HK |
dc.subject | Oligopoly | en_HK |
dc.title | Existence & uniqueness of consistent conjectural variation equilibrium in electricity markets | en_HK |
dc.type | Conference_Paper | en_HK |
dc.identifier.email | Ni, YX: yxni@eee.hku.hk | en_HK |
dc.identifier.authority | Ni, YX=rp00161 | en_HK |
dc.description.nature | published_or_final_version | en_HK |
dc.identifier.doi | 10.1109/PES.2005.1489314 | en_HK |
dc.identifier.scopus | eid_2-s2.0-27144560499 | en_HK |
dc.identifier.hkuros | 104251 | - |
dc.relation.references | http://www.scopus.com/mlt/select.url?eid=2-s2.0-27144560499&selection=ref&src=s&origin=recordpage | en_HK |
dc.identifier.volume | 1 | en_HK |
dc.identifier.spage | 314 | en_HK |
dc.identifier.epage | 319 | en_HK |
dc.identifier.scopusauthorid | Liu, Y=22835324100 | en_HK |
dc.identifier.scopusauthorid | Ni, YX=7402910021 | en_HK |