On European Electricity Market Liberalization: A Game-Theoretic Approach

On European Electricity Market Liberalization: A Game-Theoretic Approach

In this paper we deal with the European electricity market liberalization problem, formulated as a game with electricity producers as players, while the consumers’ electricity demand is exogenous. The producers maximize their profit by choosing how much electricity they will produce individually by means of electricity production available to them. The aim of the research presented in this pape...

Economic Effects of the Liberalization of the European Electricity Market – Simulation Results of a Game Theoretic Modelling Concept

Electricity market liberalization aims to boost competition at the level of each member state as well as within the European Union (EU). Therefore, observing the strategic behavior of the market players (e.g. related to net access, cooperation or refusal to collaborate, etc.) becomes crucial. There are different mathematical models for describing the behaviour of a competitive market. For the s...

Game-theoretic Study of Electricity Market Mechanisms

The electricity market game

This paper examines the effects of imperfect competition in unregulated electricity markets from a general equilibrium perspective, and demonstrates that horizontal market power can explain both the large peak-period price spikes observed recently in California and elsewhere, and the marked reduction in additions to capacity that have also occurred during the transition to competitive markets.

Electronic Commerce and Market Mechanisms: A Game-Theoretic Approach

This paper takes the view that providers of electronic markets are to be considered as economic actors in a strategic game played with potential buyers and sellers. The crucial assumption clearly concerns the choice of instruments that a market provider is considered to have at hand. Contrary to large parts of mainstream economic theory, which assume a simple perfect auction market setting guar...