This paper proposes a method for determining the price bidding strategies of market participants consisting of Generation Companies (GENCOs) and Distribution Companies (DISCOs) in a day-ahead electricity market, while taking into consideration the load forecast uncertainty and demand response programs. The proposed algorithm tries to find a Pareto optimal point for a risk neutral participan...

Indicative bidding is a practice commonly used in sales of complex and very expensive assets. Theoretical analysis shows that efficient entry is not guaranteed under indicative bidding, since there is no equilibrium in which more qualified bidders are more likely to be selected for the final sale. Furthermore, there exist alternative bid procedures that, in theory at least, guarantee 100% effic...

In this paper the problem of developing bidding strategies for the participants of dynamic oligopolistic electricity markets is studied. Attention is given to strategic bidding of load serving entities (LSE) in these markets. We model oligopolistic electricity markets as non-linear dynamical systems and use discrete-time Nash bidding strategies. We assume a Cournot model for our game, where the...

In this paper we study a genetic fuzzy system approach to assess suitable bidding strategies for agents in online auction environments. Assessing efficient bidding strategies allows evaluation of auction models and verification whether the mechanism design achieves its goals. Day-ahead electricity auctions are particularly explored to give an experimental instance of the approach developed in t...

We investigate equilibrium properties of a bidding strategy in a situation in which bidders attempt to purchase a given amount of a divisible resource by bidding on multiple auctions. A possible application area for such a scenario is the next-generation of wireless networks, in which multiple, competing network providers sell bandwidth each using an auction to allocate their resources. A bidde...