• Title/Summary/Keyword: Bertrand Model

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A Study on Transaction Pricing of Generation Bidding in Electricity Market by Using Game Theory (게임이론을 이용한 전력시장 발전입찰에서의 거래가격 결정에 관한 연구)

  • 이광호
    • The Transactions of the Korean Institute of Electrical Engineers A
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    • v.52 no.6
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    • pp.333-339
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    • 2003
  • Competition among electric generation companies is a major goal of restructuring in the electricity industry. In electricity market, a huge volume of commodities will be traded through competitive bidding. The choice between uniform and pay-as-bid pricing for electricity auction has been one of most important issues in deregulated electricity market. This paper proposes a constrained Bertrand model for analyzing the electricity auction market of price competition model. The issue of the two pricing rules of uniform and pay-as-bid is studied from the viewpoint of consumer's benefit. This paper also shows that transmission congestion depends on the pricing mechanism. Pay-as-bid pricing gives less possibility of transmission congestion by price competition, and less burden to consumers in the simulation results.

An Integrated Game Theoretical Approach for Primary and Secondary Users Spectrum Sharing in Cognitive Radio Networks

  • Kim, Jong-Gyu;Nguyen, Khanh-Huy;Lee, Jung-Tae;Hwang, Won-Joo
    • Journal of Korea Multimedia Society
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    • v.14 no.12
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    • pp.1549-1558
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    • 2011
  • In this paper, we address the problem of bandwidth sharing among multiple primary users and multiple secondary users in a cognitive radio network. In cognitive radio networks, effective spectrum assignment for primary and secondary users is a challenge due to the available broad range of radio frequency spectrum as well as the requisition of harmonious coexistence of both users. To handle this problem, firstly, Bertrand game model is used to analyze a spectrum pricing in which multiple primary users emulate with each other to acquire maximal profit. After that, we employ Cournot game to model the spectrum sharing of secondary users to obtain optimal profit for each user also. Simulation results show that our scheme obtains optimal solution at Nash equilibrium.

Analysis on Market Power in Power Transaction with Transmission Constraints (송전선 제약조건에 따른 전력거래에서의 시장지배력 연구)

  • Lee, Gwang-Ho
    • The Transactions of the Korean Institute of Electrical Engineers A
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    • v.51 no.8
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    • pp.403-408
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    • 2002
  • As the electricity industry undergoes a process of fundamental restructuring, horizontal market power appears as a potential obstacle to a fully competitive wholesale electricity market. Market power is the ability profitably to maintain prices above competitive levels by restricting output below competitive levels. In models for imperfect competition under the consideration of the transmission constraints, the Nash equilibrium has the form of a mixed strategy. In this paper, the models for analyzing imperfect competition are compared using the solution of pure and mixed equilibria. The relation between market power and the capacity of a transmission line is investigated by imperfect competition analysis methods: Cournot, Bertrand, and Supply Curve model.

An Oligopoly Spectrum Pricing with Behavior of Primary Users for Cognitive Radio Networks

  • Lee, Suchul;Lim, Sangsoon;Lee, Jun-Rak
    • KSII Transactions on Internet and Information Systems (TIIS)
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    • v.8 no.4
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    • pp.1192-1207
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    • 2014
  • Dynamic spectrum sharing is a key technology to improve spectrum utilization in wireless networks. The elastic spectrum management provides a new opportunity for licensed primary users and unlicensed secondary users to efficiently utilize the scarce wireless resource. In this paper, we present a game-theoretic framework for dynamic spectrum allocation where the primary users rent the unutilized spectrum to the secondary users for a monetary profit. In reality, due to the ON-OFF behavior of the primary user, the quantity of spectrum that can be opportunistically shared by the secondary users is limited. We model this situation with the renewal theory and formulate the spectrum pricing scheme with the Bertrand game, taking into account the scarcity of the spectrum. By the Nash-equilibrium pricing scheme, each player in the game continually converges to a strategy that maximizes its own profit. We also investigate the impact of several properties, including channel quality and spectrum substitutability. Based on the equilibrium analysis, we finally propose a decentralized algorithm that leads the primary users to the Nash-equilibrium, called DST. The stability of the proposed algorithm in terms of convergence to the Nash equilibrium is also studied.

A Comparative Welfare Analysis on the Trading System in an Electricity Market by Using Game Theory (게임이론을 적용한 전력시장 전력거래방식의 후생 측면 비교 연구)

  • 이광호
    • The Transactions of the Korean Institute of Electrical Engineers A
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    • v.52 no.10
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    • pp.616-623
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    • 2003
  • Competition among electric generation companies is a major goal of restructuring in the electricity industry, The trading system in an electricity market has been one of the most important issues in deregulated electricity market. This paper deals with comparisons of the major two types of the trading system: compulsory pool market and bilateral contract market. The two trading systems are compared quantitatively from the viewpoint of consumer's surplus and social welfare, This paper, also, proposes a unified model of Cournot and Bertrand for analyzing the mixed trading system of pool market and bilateral contract market. Nash equilibrium of the unified model is derived by criteria for participating in bilateral contract market. Numerical results from a sample case show that a mixed trading system of pool market and price-competitive bilateral market is beneficial to consumer from the view points of consumer's surplus.

Simplified model to study the dynamic behaviour of a bolted joint and its self loosening

  • Ksentini, Olfa;Combes, Bertrand;Abbes, Mohamed Slim;Daidie, Alain;Haddar, Mohamed
    • Structural Engineering and Mechanics
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    • v.55 no.3
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    • pp.639-654
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    • 2015
  • Bolted joints are essential elements of mechanical structures and metal constructions. Although their static behaviour is fairly well known, their dynamic behaviour due to shocks and vibrations has been less studied, because of the large size of the finite element models needed for a detailed simulation. This work presents four different simplified models suitable for studying the dynamic behaviour of an elementary bolted joint. Three of them include contact elements to allow sliding of the screw head and the nut on the assembled parts, and the last one allows rotation between screw and nut. A penalty approach based on the Coulomb friction model is used to model contact. The results show that these models effectively represent the dynamic behaviour, with different accuracy depending on the model details. The last model simulates the self loosening of a bolt subjected to transversal vibrations.

Modal analysis and ambient vibration measurements on Mila-Algeria cable stayed bridge

  • Kibboua, Abderrahmane;Farsi, Mohamed Naboussi;Chatelain, Jean-Luc;Guillier, Bertrand;Bechtoula, Hakim;Mehani, Youcef
    • Structural Engineering and Mechanics
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    • v.29 no.2
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    • pp.171-186
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    • 2008
  • The seismic response analysis of an existing bridge needs a mathematical model that can be calibrated with measured dynamic characteristics. These characteristics are the periods and the associated mode shapes of vibration and the modal damping coefficients. This paper deals with the measurements and the interpretation of the results of ambient vibration tests done on a newly erected cable stayed bridge across the Oued Dib River at Mila city in Algeria. The signal analysis of ambient vibration records will permit to determine the dynamic characteristics of the bridge. On the other hand, a 3-D model of the bridge is developed in order to assess the frequencies and the associated modes of vibration. This information will be necessary in the planning of the test on the site (locations of the sensors, frequencies to be measured and the associated mode shapes of vibration). The frequencies predicted by the finite element model are compared with those measured during full-scale ambient vibration measurements of the bridge. In the same way, the modal damping coefficients obtained by the random decrement method are compared to those of similar bridges.

A Solution Method of a Three-Player Game for Application to an Electric Power Market (전력시장 해석을 위한 3연 참여 게임의 해법 연구)

  • 이광호
    • The Transactions of the Korean Institute of Electrical Engineers A
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    • v.52 no.6
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    • pp.347-353
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    • 2003
  • In models of imperfect competition of deregulated electricity markets, the key task is to find the Nash equilibrium(NE). The approaches for finding the NE have had two major bottlenecks: computation of mixed strategy equilibrium and treatment of multi-player games. This paper proposes a payoff matrix approach that resolves these bottlenecks. The proposed method can efficiently find a mixed strategy equilibrium in a multi-player game. The formulation of the m condition for a three-player game is introduced and a basic computation scheme of solving nonlinear equalities and checking inequalities is proposed. In order to relieve the inevitable burden of searching the subspace of payoffs, several techniques are adopted in this paper. Two example application problems arising from electricity markets and involving a Cournot and a Bertrand model, respectively, are investigated for verifying the proposed method.

A Study of Supplier's Bidding Strategies by Piecewise Demand Function (전력 수요함수에 따른 공급자의 입찰전략 연구)

  • Cho, Cheol-Hee;Choi, Seok-Keun;Lee, Kwang-Ho
    • Proceedings of the KIEE Conference
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    • 2003.07a
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    • pp.615-617
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    • 2003
  • 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.

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Hybrid displacement FE formulations including a hole

  • Leconte, Nicolas;Langrand, Bertrand;Markiewicz, Eric
    • Structural Engineering and Mechanics
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    • v.31 no.4
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    • pp.439-451
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    • 2009
  • The paper deals with the problem related to the modelling of riveted assemblies for crashworthiness analysis of full-scale complete aircraft structures. Comparisons between experiments and standard FE computations on high-energy accidental situations onto aluminium riveted panels show that macroscopic plastic strains are not sufficiently localised in the FE shells connected to rivet elements. The main reason is related to the structural embrittlement caused by holes, which are currently not modelled. Consequently, standard displacement FE models do not succeed in initialising and propagating the rupture in sheet metal plates and along rivet rows as observed in the experiments. However, the literature survey show that it is possible to formulate super-elements featuring defects that both give accurate singular strain fields and are compatible with standard displacement finite elements. These super-elements can be related to the displacement model of the hybrid-Trefftz principle of the finite element method, which is a kind of domain decomposition method. A feature of hybrid-Trefftz finite elements is that they are mainly used for elastic computations. It is thus proposed to investigate the possibility of formulating a hybrid displacement finite element, including the effects of a hole, dedicated to crashworthiness analysis of full-scale aeronautic structures.