Dynamic modeling of the power market and analysis of its complex behavior based on a nonlinear complementarity function

DOI10.1016/J.NONRWA.2009.03.030MaRDI QIDQ974589zbMATH OpenOpenAlexFDO

Authors Mingyong Lai, Hongming Yang, Tao Tan

Publication date 3 June 2010

Published in Nonlinear Analysis. Real World Applications (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.nonrwa.2009.03.030

zbMATH Keywords

chaosNash equilibriumdynamic modelpower marketnonlinear complementarity function

Mathematics Subject Classification ID

Auctions, bargaining, bidding and selling, and other market models (91B26) Economic models of real-world systems (e.g., electricity markets, etc.) (91B74) Dynamical systems in optimization and economics (37N40) Complementarity and equilibrium problems and variational inequalities (finite dimensions) (aspects of mathematical programming) (90C33)

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Cites work

• Control of the triple chaotic attractor in a Cournot triopoly model
• Finite-Dimensional Variational Inequalities and Complementarity Problems
• Optimization and nonsmooth analysis
• The dynamics of Bowley's model with bounded rationality
• The dynamics of a tripoly Cournot game
• The non-Markovian approach to the valuation and hedging of European contingent claims on power with scaling spikes

Cited in

(8)

• scientific article; zbMATH DE number 2150740 (Why is no real title available?)
• Complex fluctuation of power price in dual-channel and multienergy supply chain based on sticky expectation
• An Ising spin-based model to explore efficient flexibility in distributed power systems
• Complex dynamics of Cournot game with bounded rationality in an oligopolistic electricity market
• Dynamic bidding analysis in power market based on the supply function
• Research on dynamic equilibrium of power market with complex network constraints based on nonlinear complementarity function
• On complexity of power systems
• Existence of homoclinic orbit of Shilnikov type and the application in Rössler system

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