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Electric power generation market has game characteristics such as players with incomplete information and bounded rationality. To meet such requirements, evolutionary game theory is applied. Based on the differences among units status of generation companies, modeling and simulation are carried out for the biding strategy of each generating unit by random pairing with another member of game population...
As independent economic entity, each power generation company in China participates in current electric power market competition by price bidding. Multi-population replicator dynamics of evolutionary game theory is applied to model and simulate power generation companiespsila discriminatory and bounded rationality bidding strategies according to different generating set status in a power market. The...
In the power market which is introduced competition, a power generation company as an unattached economic entity needs to determine the optimal bidding strategy in order to get the most income. In allusion to this problem, power generation companiespsila bidding behavior is modeled and simulated on Repast platform with an idea of Multi-Agent which combines both theories of game and complex adaptive...
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