Proceedings of the KIEE Conference (대한전기학회:학술대회논문집)
- 2003.07a
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- Pages.615-617
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- 2003
A Study of Supplier's Bidding Strategies by Piecewise Demand Function
전력 수요함수에 따른 공급자의 입찰전략 연구
- Cho, Cheol-Hee (Dankook University) ;
- Choi, Seok-Keun (Dankook University) ;
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Lee, Kwang-Ho
(Dankook University)
- Published : 2003.07.21
Abstract
In electricity market with a imperfect competition, participants make plans of biddings and transaction strategies to maximize their own profits. The market price and the quantity are determined by bidding systems and market demands. Practically the characteristics of power demand have rather two forms; elastic region and inelastic region, than constant slope elasticity. Furthermore the price cap in the market can be modelled as a region of perfect elasticity in the demand function. This paper analyses supplier's bidding strategies which are reflected the characteristics of practical demand. Equilibrium strategies are solved by using the Bertrand model and payoff matrices.
Keywords