Cart (Loading....) | Create Account
Close category search window
 

Large scale real-time bidding in the smart grid: A mean field framework

Sign In

Cookies must be enabled to login.After enabling cookies , please use refresh or reload or ctrl+f5 on the browser for the login options.

Formats Non-Member Member
$31 $13
Learn how you can qualify for the best price for this item!
Become an IEEE Member or Subscribe to
IEEE Xplore for exclusive pricing!
close button

puzzle piece

IEEE membership options for an individual and IEEE Xplore subscriptions for an organization offer the most affordable access to essential journal articles, conference papers, standards, eBooks, and eLearning courses.

Learn more about:

IEEE membership

IEEE Xplore subscriptions

3 Author(s)
Kizilkale, A.C. ; Dept. of Electr. & Comput. Eng., McGill Univ., Montreal, QC, Canada ; Mannor, S. ; Caines, P.E.

We model the power market as a dynamic large population game where suppliers and consumers submit their bids in real-time. The agents are coupled in their dynamics and cost functions through the price process. The control action computation complexity and information exchange requirements for each agent increase as the number of agents in the system increases, and this naturally leads to computational intractability. We apply the mean field methodology to study the limit behaviour of a large population of agents, and present a decentralized algorithm where agents submit their bids solely following the price signal and using statistical information that is measured from the entire population. We show that under some restrictions on the population parameter distributions the proposed algorithm gives rise to a situation where (i) all agent systems are L2 stable, and (ii) the set of controls yields an ε-Nash equilibrium.

Published in:

Decision and Control (CDC), 2012 IEEE 51st Annual Conference on

Date of Conference:

10-13 Dec. 2012

Need Help?


IEEE Advancing Technology for Humanity About IEEE Xplore | Contact | Help | Terms of Use | Nondiscrimination Policy | Site Map | Privacy & Opting Out of Cookies

A not-for-profit organization, IEEE is the world's largest professional association for the advancement of technology.
© Copyright 2014 IEEE - All rights reserved. Use of this web site signifies your agreement to the terms and conditions.