Two-population Asymmetric Evolutionary Game Dynamics-based Decision-making Behavior Analysis for A Supply-side Electric Power Bidding Market

This paper systematically discusses two-population asymmetric evolutionary games (2PAEGs) from the perspective of decision-making behavior characteristics, and applies these game models to a two-population supply-side electric power bidding market. First, a 2PAEG model is established. Then, complete...

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Bibliographic Details
Published in:E3S web of conferences 2020-01, Vol.194, p.3009
Main Authors: Zeng, Kaiwen, Cheng, Lefeng, Liu, Jianing, Wang, Haizhu, Yu, Tao
Format: Article
Language:English
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Summary:This paper systematically discusses two-population asymmetric evolutionary games (2PAEGs) from the perspective of decision-making behavior characteristics, and applies these game models to a two-population supply-side electric power bidding market. First, a 2PAEG model is established. Then, complete evolutionary equilibrium rules of this model are revealed during decision-making processes. Discussion shows that final evolutionary game equilibria achieved in the 2PAEG model are only determined by some payoff parameters, which are defined as relative net payoff (RNP) parameters in this paper. Finally, a case study of supply-side bidding simulation for two generator populations is conducted, which can effectively verify the universality and effectiveness of the evolutionary dynamics results obtained in the established general 2PAEG model. Moreover, it shows that reasonable policies made by the government can guide more appropriate power bidding for onto-grid electricity.
ISSN:2267-1242
2267-1242
DOI:10.1051/e3sconf/202019403009