Economic evaluation and state time-delayed feedback chaos control of dynamic supply function model in power market

The dynamic supply function model considering the decision-marking of market participants and transmission constrains of power network in power market is established. The different dynamic behaviors are analyzed, such as Nash equilibrium, period and chaos. With the average profit as the economic evaluation index, the economic performances of dynamic behaviors in the states of Nash equilibrium, period and chaos are analyzed and compared for three-node power market. Among them, the optimal performance appears in the state of Nash equilibrium. In view of the chaotic behaviors in power market, the state time-delayed feedback chaos control method is proposed. Finally, by means of the proposed control method, the chaotic state is controlled to the stable equilibrium point so that the economic performance of dynamic power market is effectively improved.