Entity

Time filter

Source Type


Kacprzak P.,IAiIS | Palka P.,IAiIS | Kaleta M.,IAiIS | Smolira K.,IAiIS | Toczylowski E.,Kierownik Zakladu Badan Operacyjnych i Systemowych w
Rynek Energii | Year: 2010

Complex market mechanisms may be analyzed using the game theory approach. In this paper we model power balancing market as a game between market participants. This approach allows us to examine some interesting market mechanism's properties from the game theory point of view. We use a few methods to analyze considered market game, like payoff matrix, game simulation and equilibrium models, used to find game equilibrium points. We use many different methods to obtain as broad knowledge about examined mechanisms as it is possible as well as to make our tests more reliable. In this paper we use a simple LMP balancing market model as an example and examine some interesting points in its solution space. Results of the analysis may be useful in designing and evaluating other power balancing market mechanisms.

Discover hidden collaborations