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Article: Existence and uniqueness of consistent conjectural variation equilibrium in electricity markets
Title | Existence and uniqueness of consistent conjectural variation equilibrium in electricity markets |
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Authors | |
Keywords | Consistent conjecture variation Electricity markets Existence and uniqueness Oligopoly |
Issue Date | 2007 |
Publisher | Elsevier Ltd. The Journal's web site is located at http://www.elsevier.com/locate/ijepes |
Citation | International Journal Of Electrical Power And Energy Systems, 2007, v. 29 n. 6, p. 455-461 How to Cite? |
Abstract | The game-theory based methods are widely applied to analyze the market equilibrium and to study the strategic behavior in the oligopolistic electricity markets. Recently, the conjecture variation approach, one of well-studied methods in game theory, is reported to model the strategic behavior in deregulated electricity markets. Unfortunately, the conjecture variation models have been criticized for the drawback of logical inconsistence and possibility of abundant equilibria. Aiming for this, this paper investigates the existence and uniqueness of consistent conjectural variation equilibrium in electricity markets. With several good characteristics of the electricity market and with an infinite horizon optimization model, it is shown that the consistent conjecture variation will satisfy a set of coupled nonlinear equations and there will be only one equilibrium. This result can provide the fundamentals for further applications of the conjecture variation approach. © 2006 Elsevier Ltd. All rights reserved. |
Persistent Identifier | http://hdl.handle.net/10722/73730 |
ISSN | 2023 Impact Factor: 5.0 2023 SCImago Journal Rankings: 1.711 |
ISI Accession Number ID | |
References |
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Liu, Y | en_HK |
dc.contributor.author | Ni, YX | en_HK |
dc.contributor.author | Wu, FF | en_HK |
dc.contributor.author | Cai, B | en_HK |
dc.date.accessioned | 2010-09-06T06:54:13Z | - |
dc.date.available | 2010-09-06T06:54:13Z | - |
dc.date.issued | 2007 | en_HK |
dc.identifier.citation | International Journal Of Electrical Power And Energy Systems, 2007, v. 29 n. 6, p. 455-461 | en_HK |
dc.identifier.issn | 0142-0615 | en_HK |
dc.identifier.uri | http://hdl.handle.net/10722/73730 | - |
dc.description.abstract | The game-theory based methods are widely applied to analyze the market equilibrium and to study the strategic behavior in the oligopolistic electricity markets. Recently, the conjecture variation approach, one of well-studied methods in game theory, is reported to model the strategic behavior in deregulated electricity markets. Unfortunately, the conjecture variation models have been criticized for the drawback of logical inconsistence and possibility of abundant equilibria. Aiming for this, this paper investigates the existence and uniqueness of consistent conjectural variation equilibrium in electricity markets. With several good characteristics of the electricity market and with an infinite horizon optimization model, it is shown that the consistent conjecture variation will satisfy a set of coupled nonlinear equations and there will be only one equilibrium. This result can provide the fundamentals for further applications of the conjecture variation approach. © 2006 Elsevier Ltd. All rights reserved. | en_HK |
dc.language | eng | en_HK |
dc.publisher | Elsevier Ltd. The Journal's web site is located at http://www.elsevier.com/locate/ijepes | en_HK |
dc.relation.ispartof | International Journal of Electrical Power and Energy Systems | en_HK |
dc.rights | International Journal of Electrical Power & Energy Systems. Copyright © Elsevier Ltd. | en_HK |
dc.subject | Consistent conjecture variation | en_HK |
dc.subject | Electricity markets | en_HK |
dc.subject | Existence and uniqueness | en_HK |
dc.subject | Oligopoly | en_HK |
dc.title | Existence and uniqueness of consistent conjectural variation equilibrium in electricity markets | en_HK |
dc.type | Article | en_HK |
dc.identifier.openurl | http://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0142-0615&volume=29&spage=455&epage=461&date=2007&atitle=Existence+and+Uniqueness+of+Consistent+Conjectural+Variation+Equilibrium+in+Electricity+Markets | en_HK |
dc.identifier.email | Ni, YX: yxni@eee.hku.hk | en_HK |
dc.identifier.email | Wu, FF: ffwu@eee.hku.hk | en_HK |
dc.identifier.authority | Ni, YX=rp00161 | en_HK |
dc.identifier.authority | Wu, FF=rp00194 | en_HK |
dc.description.nature | link_to_subscribed_fulltext | - |
dc.identifier.doi | 10.1016/j.ijepes.2006.11.006 | en_HK |
dc.identifier.scopus | eid_2-s2.0-33847629666 | en_HK |
dc.identifier.hkuros | 145696 | en_HK |
dc.relation.references | http://www.scopus.com/mlt/select.url?eid=2-s2.0-33847629666&selection=ref&src=s&origin=recordpage | en_HK |
dc.identifier.volume | 29 | en_HK |
dc.identifier.issue | 6 | en_HK |
dc.identifier.spage | 455 | en_HK |
dc.identifier.epage | 461 | en_HK |
dc.identifier.isi | WOS:000247416500003 | - |
dc.publisher.place | United Kingdom | en_HK |
dc.identifier.scopusauthorid | Liu, Y=22835324100 | en_HK |
dc.identifier.scopusauthorid | Ni, YX=7402910021 | en_HK |
dc.identifier.scopusauthorid | Wu, FF=7403465107 | en_HK |
dc.identifier.scopusauthorid | Cai, B=16038398000 | en_HK |
dc.identifier.issnl | 0142-0615 | - |