Market-based methods are an emerging paradigm for controlling large decentralized systems. We propose a bidding mechanism for allocation network resources among competing agents and analyze it under a gametheoretic perspective. We show the existence and uniqueness of a Nash equilibrium with certain pro t maximization properties. We further propose update algorithms that allow users to converge ...

In many auctions, agents bid more aggressively than selfinterest would prescribe. This can be explained by spite, where the agent’s utility not only increases in the agent’s surplus but also decreases as the other bidders’ surpluses increase. Spite can stem from long-term benefits from making competitors worse off and from inherent psychological effects. There have been important recent game-th...

We analyze the consequences of strategically sophisticated bidding without assuming equilibrium behavior. In particular, we characterize interim rationalizable bids in symmetric first-price auctions with interdependent values and affiliated signals. We show that (1) every non-zero bid below the equilibrium is rationalizable, (2) some bids above the equilibrium are rationalizable, (3) the upper ...

<p class="Title1">In this article, bacterial foraging optimization (BFO) algorithm is developed for single side optimal bidding strategy in an electricity market. Optimal one of the important functions market along with forecasting price and profit based unit commitment. The prime objective generating company (Genco) to maximize their when they participate process. BFO has been used proba...

An Equilibrium Problem with an Equilibrium Constraint (EPEC) is a mathematical construct that can be applied to private competition in highway networks. In this paper we consider the problem of finding a Nash Equilibrium in a situation of competition in toll pricing on a network utilising two alternative algorithms. In the first algorithm, we utilise a Gauss Seidel fixed point approach based on...

This paper explores integrated pricing of electricity and roads enabled by wireless power transfer technology. We envision that high-power, high-efficiency wireless power transfer technologies are mature in the near future, which electrify roads to be charging infrastructures. The prices of electricity at electrified roads will affect electric vehicles’ route choices while the energy requiremen...

The quest for a PTAS for Nash equilibrium in a two-player game seeks to circumvent the PPADcompleteness of an (exact) Nash equilibrium by finding an approximate equilibrium, and has emerged as a major open question in Algorithmic Game Theory. A closely related problem is that of finding an equilibrium maximizing a certain objective, such as the social welfare. This optimization problem was show...

The use of energy storage devices in homes has been advocated as one of the main ways of saving energy and reducing the reliance on fossil fuels in the future Smart Grid. However, if micro-storage devices are all charged at the same time using power from the electricity grid, it means a higher demand and, hence, requires more generation capacity, results in more carbon emissions, and, in the wo...

  This paper aimed at estimation of the per capita consumption of electricity in residential sector based on economic indicators in Iran. The Genetic Algorithm Electricity Demand Model (GAEDM) was developed based on the past data using the genetic algorithm approach (GAA). The economic indicators used during the model development include: gross domestic product (GDP) in terms of per capita and ...