7th WSEAS International Conference on Fuzzy Systems - FS'06 pp. 43-48, Cavtat (Croatia). 12-14 Junio 2006
Summary:
Cournot non-cooperative game theory is one of the theoretical approaches more used to model market behavior in the electricity industry. However this approach is highly influenced by the residual demand curves of the market agents, which are usually not precisely known. Imperfect information has normally been modeled with Probability Theory, accepting to treat it as randomness. However, Possibility Theory might sometimes be more helpful than Probability Theory in modeling uncertainty, imprecision and vagueness. A Possibilistic Cournot equilibrium formulation is proposed, and two dual and complementary approaches are applied to simplify from fuzzy to deterministic, to compute a robust solution, when the residual demand uncertainty is modeled with a possibility distribution
Keywords: Electricity market, Cournot game theory, Possibility Theory, Fuzzy programming, Chance constraints
Publication date: June 2006.
Citation:
Campos, F.A., Villar, J., Barquín, J., Possibilistic Cournot equilibrium for electricity markets, 7th WSEAS International Conference on Fuzzy Systems - FS'06 pp. 43-48, Cavtat (Croatia). 12-14 June 2006.
IIT-06-020A
