Journal article ยท Preprint article
Electricity Market Equilibrium Under Information Asymmetry
We study a competitive electricity market equilibrium with two trading stages, day-ahead and real-time. The welfare of each market agent is exposed to uncertainty (here from renewable energy production), while agent information on the probability distribution of this uncertainty is not identical at the day-ahead stage.
We show a high sensitivity of the equilibrium solution to the level of information asymmetry and demonstrate economic, operational, and computational value for the system stemming from potential information sharing.
Language: | English |
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Year: | 2019 |
Pages: | 521-526 |
ISSN: | 18727468 and 01676377 |
Types: | Journal article and Preprint article |
DOI: | 10.1016/j.orl.2019.09.005 |
ORCIDs: | Dvorkin, Vladimir , Kazempour, Jalal and Pinson, Pierre |
Asymmetry of information Distributed optimization Electricity market Equilibrium Existence and uniqueness SDG 7 - Affordable and Clean Energy Uncertainty