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This paper presents a new unified framework of electricity market analysis based on coevolutionary computation (CCEM) for both the one-shot and the repeated games of oligopolistic electricity markets. The standard Cournot model and the new Pareto improvement model are used. The linear and constant elasticity demand functions are considered. Case study shows that CCEM is highly efficient and can handle the nonlinear market models that are difficult to be handled by conventional methods. The framework presented in this paper can help to overcome the difficulties of demand function specification encountered by the Cournot models. CCEM is found to be an effective and powerful approach for electricity market analysis.
Date of Publication: Feb. 2006