An Energy Market Stackelberg Game solved with Particle Swarm Optimization

Show simple item record Kontogiorgos, Panagiotis Sarri, Elena Vrahatis, Michael N. Papavassilopoulos, George P. 2014-10-11T09:38:23Z 2014-10-11T09:38:23Z 2014-09-02
dc.identifier.isbn 978-960-8475-22-9
dc.description This research has been co-financed by the program ARISTEIA, project name HEPHAISTOS and by the European Union (European Social Fund – ESF) and Greek national funds through the Operational Program "Education and Lifelong Learning" of the National Strategic Reference Framework (NSRF) - Research Funding Program: Thales. Investing in knowledge society through the European Social Fund. en_US
dc.description.abstract Complex interactions between stakeholders in deregulated markets are formulated using game theory notions. This study is motivated by energy markets and addresses Stackelberg games with a leader that decides first his strategy and many followers, each one with his own characteristics. A static Stackelberg game corresponding to a Voluntary Load Curtailment (VLC) program for energy consumers is formulated. This leads to a bilevel programming problem that is generally difficult to solve, due to nonlinearities, nonconvexities that arise and the large dimensionality of the problem due to the existence of many followers. In these problems metaheuristic algorithms become attractive. In this study an algorithm for solving such problems is developed, using Particle Swarm Optimization (PSO) which is based on collective intelligent behaviors in nature and has gained wide recognition the last years. Some examples are then solved using the proposed algorithm in order to study its efficiency and the interactions between the players of this game. en_US
dc.description.sponsorship ARISTEIA - HEPHAISTOS - NSRF - ESF - THALES en_US
dc.language.iso en en_US
dc.publisher AMCL/TUC en_US
dc.subject Complex Systems en_US
dc.subject Energy Market en_US
dc.subject Stackelberg en_US
dc.subject Particle Swarm Optimization en_US
dc.title An Energy Market Stackelberg Game solved with Particle Swarm Optimization en_US
dc.type Article en_US

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  • NumAn2014 Proceedings
    Proceedings of the 6th International Conference on Numerical Analysis (NumAn2014)

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