A matrix game model for analyzing FTR bidding strategies in deregulated electric power markets

Non-cooperative game-theoretic model of demand response aggregator competition for selling stored energy in storage devices

“…A bi-level, complete-information, matrix game-theoretic model was proposed in [26] to assess the economic impact and make operational decisions in carbon-constrained restructured electricity markets. A game theoretic modeling approach was performed in [27] to develop financial transmission rights bidding strategies for power suppliers assuming that they have adequately forecast Locational Marginal Prices (LMPs). The game theoretic model considered multiple participants as well as network contingencies.…”

Two‐level decision‐making model for a distribution company in day‐ahead market

“…Mixed NE implies that players adopt mixed strategies, which means to choose multiple actions with different probabilities. Thus in order to implement a mixed strategy, a game must be repeated many times while the conditions of the game remain unchanged [19]. However in DAM, this condition is hard to satisfy and DAM is affected by different parameters such as weather and other electricity markets.…”

“…In this paper, a stochastic approximation‐based reinforcement learning scheme is used to solve the matrix game. An application of this algorithm in electricity markets can be found in [19].…”

“…In fact, Nash proved that every matrix game has at least one NE, which can be a pure one or a mixed one [16]. The problem with mixed NEs is that they are not stable [17] and are hard to be implemented in DAM where the conditions of the game vary fast [18, 19].…”

Short-term electricity prices forecasting in a competitive market by a hybrid PSO–ANFIS approach

“…Hence, price forecasting [3][4][5] is extremely important for all market players [6,7]. An accurate forecast of electricity prices is a very important tool for a generating company to develop an appropriate bidding strategy in the market and to optimally schedule its hydro [8] and/or thermal [9,10] resources.…”