Please use this identifier to cite or link to this item:
|Title:||Evolving cooperative bidding strategies in a power market|
|Authors:||Srinivasan, D. |
Power system economics
|Citation:||Srinivasan, D., Woo, D. (2008-10). Evolving cooperative bidding strategies in a power market. Applied Intelligence 29 (2) : 162-173. ScholarBank@NUS Repository. https://doi.org/10.1007/s10489-007-0050-6|
|Abstract:||This paper presents an evolutionary algorithm to generate cooperative strategies for individual buyers in a competitive power market. The paper explores how buyers can lower their costs by using an evolutionary algorithm that evolves their group sizes and memberships. The evolutionary process uncovers interesting agent behaviors and strategies for collaboration. The developed agent-based model uses PowerWorld simulator to incorporate the traditional physical system characteristics and constraints while evaluating individual agent's behavior, actions and reactions on market dynamics. Simulation results on IEEE 14-bus system show that the evolutionary approach evolves mutually beneficial strategies that enhance the buyer's profitability. The buyers learn to achieve substantial cost savings by forming groups and adjusting their demand curves, without sacrificing much in desired power consumption. © 2007 Springer Science+Business Media, LLC.|
|Source Title:||Applied Intelligence|
|Appears in Collections:||Staff Publications|
Show full item record
Files in This Item:
There are no files associated with this item.
checked on Jul 14, 2018
WEB OF SCIENCETM
checked on Jul 4, 2018
checked on May 25, 2018
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.