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Application of possibility theory to robust Cournot equilibriums in electricity market

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IIT-05-023A.pdf (185.5Kb)
Fecha
2005-10-01
Autor
Campos Fernández, Francisco Alberto
Villar Collado, José
Barquín Gil, Julián
Estado
info:eu-repo/semantics/publishedVersion
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It is known that Cournot game theory has been one of the theoretical approaches used more often to model electricity market behavior. Nevertheless, this approach is highly influenced by the residual demand curves of the market agents, which are usually not precisely known. This imperfect information has normally been studied with probability theory, but possibility theory might sometimes be more helpful in modeling not only uncertainty but also imprecision and vagueness. In this paper, two dual approaches are proposed to compute a robust Cournot equilibrium, when the residual demand uncertainty is modeled with possibility distributions. Additionally, it is shown that these two approaches can be combined into a bicriteria programming model, which can be solved with an iterative algorithm. Some interesting results for a real-size electricity system show the robustness of the proposed methodology.
 
URI
https:doi.org10.1017S0269964805050345
Application of possibility theory to robust Cournot equilibriums in electricity market
Tipo de Actividad
Artículos en revistas
ISSN
0269-9648
Materias/ categorías / ODS
Instituto de Investigación Tecnológica (IIT)
Palabras Clave

Electricity market, Cournot game theory, Possibility Theory, Fuzzy programming, Chance constraints
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