The Analysis of Bilateral Bidding Model of Electricity Market Based on Bayesian Nash Equilibrium

DOI

10.2991/icmeim-17.2017.82How to use a DOI?

Keywords

Bayesian Nash Equilibrium; Electricity Market; Bilateral Bidding Model

Abstract

This paper, based on the incomplete information game theory, analyzes the direct bilateral bidding transactions between electric power generator and electric power consumer. Then, we analyze the existence of the Bayesian Nash equilibrium solutions. The analysis result manifests that it is of obvious benefits for the electric power producer to use game theory to guide their bidding strategies. And this article can also provide some policy guidance for China's electricity market reforms.

Copyright

© 2017, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Download article (PDF)

TY  - CONF
AU  - Yan-hong Li
PY  - 2017/02
DA  - 2017/02
TI  - The Analysis of Bilateral Bidding Model of Electricity Market Based on Bayesian Nash Equilibrium
BT  - Proceedings of the 2017 International Conference on Manufacturing Engineering and Intelligent Materials (ICMEIM 2017)
PB  - Atlantis Press
SP  - 482
EP  - 486
SN  - 2352-5401
UR  - https://doi.org/10.2991/icmeim-17.2017.82
DO  - 10.2991/icmeim-17.2017.82
ID  - Li2017/02
ER  -