In this paper, we develop a new method for Þnding the optimal bidding strategy in sequential auctions, using a dynamic programming technique. The existing method assumes that the utility of a user is represented in an additive form. From this assumption, the remaining endowment of money must be explicitly represented in each state, and the calculation of the optimal bidding strategy becomes tim...

in this paper, the concept of conjectural variation (cv) is used to specify optimal generation decision for generation companies (gencos). the conjecture of genco is defined as its belief or expectation about the reaction of rivals to change of its output. using cv method, each genco has to learn and estimate strategic behaviors of other competitors from available historical market operation da...

Microgrid is commonly regarded as an efficient way for integration of distributed generation (DG) in low voltage network. However, the integration method of microgrid in power system for maximum benefit needs to be further promoted. In this paper, a stochastic bidding strategy of microgrid in a joint dayahead market of energy and spinning reserve service is proposed taking into account of uncer...

We study the online learning problem of a bidder who participates in repeated auctions. With the goal of maximizing his total T-period payoff, the bidder wants to determine the optimal allocation of his fixed budget among his bids for K different goods at each period. As a bidding strategy, we propose a polynomial time algorithm, referred to as dynamic programming on discrete set (DPDS), which ...

Bidding for multi-items in simultaneous auctions raises challenging problems. In multi-auction settings, the determination of optimal bids by potential buyers requires combinatorial calculations. While an optimal bidding strategy is known when bidding in sequential auctions, only suboptimal strategies are available when bidding for items being sold in simultaneous auctions. We investigate a mul...

& This article proposes optimal bidding strategies for a generation company (GenCo) considering risk of profit variation by self-organizing hierarchical particle swarm optimization with time-varying acceleration coefficients (SPSO-TVAC). Based on a trade-off technique, the expected profit maximization and risk minimization are achieved. Nonconvex operating cost functions of thermal generation u...

Today due to increasing and evolving of electrical grids, the optimal and profitable energy production is among producers' major concerns. Thus, conventional ways of production and trading energy are being replaced by modern economical procedures. In addition, distributed energy resources (DERs) in form of renewable and conventional resources as well as responsive loads play an important role i...

We have designed configurable agents to represent users in online auctions, specificMly the Michigan AuctionBot. The agents can be configured, started, and monitored from a web interface. We implemented three types of agents, distinguished by their different ways of using information in the auctions. A competitive agent does not use any information in the auction market. It chooses its actions ...