Gaming Experiments for Analysis of Pricing Mechanisms at Electricity Markets. Issue 32 (2016)

• Record Type: Journal Article
• Authors: Chirkin, V.; Goldstein, M.; Gorbunov, A.; Goubko, M.; Korepanov, V.; Korgin, N.; Sayfutdinov, T.; Sharova, A.; Vaskovskaya, T.
• Is Part Of: IFAC-PapersOnLine. Volume 49:Issue 32(2016)
• Page Start: 13
• Page End: 18
• Publication Date: 2016
• Subjects: management policy verification -- game theory -- business games -- locational marginal price -- oligopoly -- congestion management; Automatic control -- Periodicals; 629.805
• DOI: 10.1016/j.ifacol.2016.12.182
• Languages: English
• ISSNs: 2405-8963

Abstract

Abstract: A method is proposed to support management policy design and verification in complex cyber-physical & human systems (CPHS). A hierarchy of interconnected formal models is built to provide the multi-faceted view of the conflict situation lying in the core of a certain management problem. Game-theoretical analysis reveals the problem and mechanism design suggests the alternative management policy. Its efficiency is verified by multi-agent simulations and gaming experiments with experts. The approach is illustrated using the examples of two market manipulation issues arising on the Russian wholesale electricity market.