WSEAS Transactions on Circuits and Systems
Print ISSN: 1109-2734, E-ISSN: 2224-266X
Volume 12, 2013
Based on Negotiation Strategies and Dynamic Learning Model Generation Rights Trade
Authors: , ,
Abstract: The accelerating development of China has meanwhile induced some negative issues, such as energy and environmental problems. This paper has brought Generation rights trade into the current electricity market environment, which not only effectively alleviate the contradictions arising from rapid development, but also enable the generation right buyers and sellers to achieve their mutual profit maximization. According to the general trading psychology, both sides expect the price close to their expected price in order to maximize their profits.Thus by establishing the electricity market transaction negotiation model, buyers and sellers estimate rival’s price bottom line via past experience, and also implement the dynamic learning of random disturbance term with the help of symmetry information during transaction process, and then reacquaint the rival’s bottom line. After that both sides make decision optimization by using Zeuthen decision to test the wind resistance of buyers and sellers, and each makes its most beneficial offer decisions. Finally, both sides reach to the final offer through repeated negotiation. The simulation results show that the transaction price is comparatively consistent with the ideal price, and also the transaction price is close to the optimal solution of Nash plot.