GENERATORS’ STRATEGIC BEHAVIOUR RESERCH BASED ON THE AGENT APPROACH TO THE POWER MARKET MODELING

• Authors: Anna Grigoryeva , Evgeny Lisin
• Languages of publication: EN

Abstracts

EN

This paper is devoted to the modeling of power markets and the generators’ strategic behavior, and to the application of market power strategies, in particular.The generator’s market power is its ability to influence the price of the offer and sale conditions in the power market without a reaction from competitors. The human factor leads to irrational features in the decision-making. That fact does not allow us to describe the behavior of market agents in the form of the optimization problem. So agent-based modeling of the complex economic systems is being actively developed now.

Keywords

EN

wholesale power market; agent-based modelling; market power; generator; strategic behavior

• Publisher: University Service Publishing, Prague, Czech Republic
• Journal: Czech Journal of Social Sciences, Business and Economics
• Year: 2012
• Volume: 1
• Issue: 1
• Pages: 75-82

Dates

published

2012-12

Contributors

author

Anna Grigoryeva

author

Evgeny Lisin

• Redakce CJSSBE, Univerzitní servis, s.r.o., Trnkovo nám. 1112/2, 152 00 Praha 5, Czech Republic