Skip to Main Content
Investigate what combined bidding behavior of power supplier will bring to the electricity market after the market has reached equilibrium. A bounded rational power supplier is assumed to have two strategy choices: 1) maintaining equilibrium strategy 2) adopting strategy Price-Deviation-Adjust (PD-adjust) learning or Cournot adjust gives. The switching hierarchical learning automaton is introduced to describe the proposed combined bidding behavior. Simulation results show some interesting phenomena and indicate different combined bidding behaviors may bring different predictions to the market.