英文标题:
《Strategic bidding via the interplay of minimum income condition orders
in day-ahead power exchanges》
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作者:
D\\\'avid Csercsik
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最新提交年份:
2020
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英文摘要:
In this paper we study the so-called minimum income condition order, which is used in some day-ahead electricity power exchanges to represent the production-related costs of generating units. This order belongs to the family of complex orders, which imply non-convexities in the market clearing problem. We demonstrate via simple numerical examples that if more of such bids are present in the market, their interplay may open the possibility of strategic bidding. More precisely, we show that by the manipulation of bid parameters, a strategic player may increase its own profit and potentially induce the deactivation of an other minimum income condition order, which would be accepted under truthful bidding. Furthermore, we show that if we modify the objective function used in the market clearing according to principles suggested in the literature, it is possible to prevent the possibility of such strategic bidding, but the modification raises other issues.
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中文摘要:
在本文中,我们研究了所谓的最低收入条件订单,该订单在日前电力交易中用于表示发电机组的生产相关成本。该指令属于复杂指令族,这意味着市场清算问题中的非凸性。我们通过简单的数值例子证明,如果市场上存在更多此类投标,它们之间的相互作用可能会开启战略投标的可能性。更准确地说,我们表明,通过操纵出价参数,一个战略参与者可能会增加自己的利润,并可能导致其他最低收入条件订单的失效,这将在真实出价下被接受。此外,我们还表明,如果我们根据文献中建议的原则修改市场清算中使用的目标函数,就有可能防止此类战略投标的可能性,但这种修改会引发其他问题。
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分类信息:
一级分类:Economics 经济学
二级分类:General Economics 一般经济学
分类描述:General methodological, applied, and empirical contributions to economics.
对经济学的一般方法、应用和经验贡献。
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一级分类:Quantitative Finance 数量金融学
二级分类:Economics 经济学
分类描述:q-fin.EC is an alias for econ.GN. Economics, including micro and macro economics, international economics, theory of the firm, labor economics, and other economic topics outside finance
q-fin.ec是econ.gn的别名。经济学,包括微观和宏观经济学、国际经济学、企业理论、劳动经济学和其他金融以外的经济专题
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