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A STUDY ON THE DILEMMA OF LEARNING IN THE LINEAR SUPPLY FUNCTION BIDDING IN POWER MARKETS

机译:电力市场线性供应函数竞标中学习困境研究

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This paper addresses the issue of the market evolution with repeated linear supply function bidding. Under this circumstance, it is expected that power suppliers will learn from the market for making optimal decisions. However, it is unclear whether the market can converge; and if so, what is the feature of the equilibrium point With detailed mathematical formulations, it is shown in this paper that supply function equilibrium is a Nash equilibrium; and that in certain condition the overall learning behaviors will reduce the MCP which in turn increases consumers' surplus and decreases suppliers' profits; while in some other conditions the results are just the contrary, which is indeed a dilemma of linear supply function bidding. The economic mechanism on why and how such dilemma will happen is discussed. Numerical results support the analytical conclusions very well.
机译:本文讨论了重复线性供应功能竞标的市场演变问题。在这种情况下,预计电力供应商将从市场中学到以获得最佳决策。但是,目前尚不清楚市场是否可以收敛;如果是的话,具有详细的数学配方的平衡点的特征是什么,在本文中示出了供应函数平衡是纳什平衡;在某些情况下,整体学习行为将减少MCP,反过来又增加了消费者的盈余和降低供应商的利润;虽然在其他一些条件下,结果是相反的,这确实是线性供应功能竞标的困境。讨论了为什么和如何发生这种困境的经济机制。数值结果非常好地支持分析结论。

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