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Application of evolutionary game theory in power supply bidding strategies

Ciling Zeng

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Abstract

Evolutionary game theory is a theory of combining the game theory analysis with the dynamic analysis of the evolutionary process. Evolutionary game theory and its developing process are introduced, and the model about the bidding process in power market is established and solved by using evolutionary game theory. The proposed model is illustrated by a case study, and the results show that the proposed model can perfectly describe market response and the dynamic process of power suppliers′ bidding.

About this research paper

What this paper is about

Evolutionary game theory is a theory of combining the game theory analysis with the dynamic analysis of the evolutionary process. Evolutionary game theory and its developing process are introduced, and the model about the bidding process in power market is established and solved by using evolutionary game theory. The proposed model is illustrated by a case study, and the results show that the proposed model can perfectly describe market response and the dynamic process of power suppliers′ bidding.

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Available abstract

Evolutionary game theory is a theory of combining the game theory analysis with the dynamic analysis of the evolutionary process. Evolutionary game theory and its developing process are introduced, and the model about the bidding process in power market is established and solved by using evolutionary game theory. The proposed model is illustrated by a case study, and the results show that the proposed model can perfectly describe market response and the dynamic process of power suppliers′ bidding.

Key concepts: Bidding, Game theory, Evolutionary game theory, Evolutionarily stable strategy, Process (computing), Implementation theory, Sequential game, Repeated game

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