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Because generators are limited rationality and their bidding strategies exist risk and uncertainty, this paper proposes a generators' bidding model which is constructed by value function and weight function based on cumulative prospect theory. Value function shows the changes of losses and gains, and weight function reflects players' psychological risk factors. The prospect value of bidding strategy...
The reform of Chinapsilas coal sector has changed the traditional relationship of the coal producers and electric power generators, and now most of the coal the coal producers sell to the generators is transacted through electric coal bilateral contracts, whose price is negotiated in advance. However, long time and low efficiency always come along with the negotiation process, so in this paper, the...
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