@inproceedings{ffd56f6eeca44746a578de0b4071c7f7,
title = "A stochastic Cournot bidding model for wind power producers",
abstract = "In this paper, Cournot model is employed to study the bidding strategies for wind power producers in pool-based electricity market. A bidding strategy based on Cournot model, which takes into account the stochastic behavior of wind power and the imbalance cost, is proposed. In the Cournot game, individual player's bidding problem is formulated as a expected profit maximization model. One kind of iterative algorithm is used to obtain Nash equilibrium strategies for producers. Impact of stochastic behavior of wind power on equilibrium outputs and price is also discussed. Numerical results show that the optimal strategy is highly relevant to the imbalance prices, and also to the forecasting errors. The imbalance penalty tends to drive the bids closer to the expected generation for the next period or day.",
keywords = "Nash equilibrium, bidding strategy, cournot model, electricity market, imbalance cost",
author = "Haifeng Zhang and Feng Gao and Jiang Wu and Kun Liu and Qiaozhu Zhai",
year = "2011",
doi = "10.1109/ICAL.2011.6024735",
language = "英语",
isbn = "9781457703010",
series = "IEEE International Conference on Automation and Logistics, ICAL",
pages = "319--324",
booktitle = "2011 IEEE International Conference on Automation and Logistics, ICAL 2011",
note = "2011 IEEE International Conference on Automation and Logistics, ICAL 2011 ; Conference date: 15-08-2011 Through 16-08-2011",
}