Stackelberg Strategies for Dynamic Games with Energy Players Having Different Time Durations

Authors

  • Nikolaos Chr. Kakogiannis National Technical University of Athens
  • George P. Papavassilopoulos National Technical University of Athens

Abstract

We consider a system that consists of a major electrical power producer player (Public Power Corporation -PPC) playing in infinite time horizon, and minor players (power producers and consumers) remaining in the system for finite time durations, which time durations are overlapping. We study how they interact among themselves (horizontal interaction), and with the major player respectively (vertical interaction), via their decisions/strategies. We study a deterministic LQ version of the problem in discrete time. In our previous work we employed the Nash equilibrium and we studied the behavior of the system. In this paper we use the Stackelberg equilibrium with the long-term players in the role of the Leader.

Keywords:

energy optimization cost, game theory, Stackelberg equilibrium

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References

Bertsekas, D.P. (2000). Dynamic Programming and Optimal Control. 2nd ed., Athena Scientific-Belmont-Massachusetts.

Basar, T. and G.J. Olsder (1999). Dynamic Noncooperative Game Theory. 2nd ed., SIAM Classics in Applied Mathematics.

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Simaan, M. and J.B. Cruz (1973b). Additional Aspects of the Stackelberg Strategy in Nonzero-Sum Games. JOTA, 11(6), 613–626.

Papavassilopoulos, G.P. (1982). On the Linear Quadratic Gaussian Nash Game with One-Step Delay Observation Sharing Pattern. IEEE Trans. on Automatic Control, Vol. AC-27, No. 5, 1065–1071.

Fudenberg, D. and J. Tirole (1991). Game Theory. MIT. press.

Kakogiannis, N., G.P. Papavassilopoulos (2010). Games among Long and Short Term Electricity Producers and Users. 14th Intern. Symposium on Dynamic Games and Applications, June 19th to 24th, 2010. The Banff Centre, Banff, Alberta, Canada.

Kakogiannis, N., P. Kontogiorgos, E. Sarri, G.P. Papavassilopoulos (2010). Games among Long and Short Term Electricity Producers and Users, Further. Medpower 2010, November 7th to 10th, 2010. Agia Napa, Cyprus.

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Published

2023-01-25

How to Cite

Kakogiannis, N. C., & Papavassilopoulos, G. P. (2023). Stackelberg Strategies for Dynamic Games with Energy Players Having Different Time Durations. Contributions to Game Theory and Management, 5, 128–137. Retrieved from https://gametheory.spbu.ru/article/view/14317

Issue

Vol. 5 (2012)

Section

Articles

License

Articles of "Contributions to Game Theory and Management" are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.