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PRODID:https://www.diw.de/de/diw_01.c.806339.de/veranstaltungen.html
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UID:diw_01.c.514119.de
LOCATION:Gustav-Schmoller-Raum,DIW Berlin im Quartier 110,3.3.002A,Anton-Wilhelm-Amo-Straße 58,10117 Berlin
SUMMARY:An Exact Solution Method for Binary Equilibrium Problems with Compensation and the Power Market Uplift Problem
DESCRIPTION:We propose a novel method to find Nash equilibria in games with binary decision variables by including compensation payments and incentive-compatibility constraints from non-cooperative game theory directly into an optimization framework in lieu of using first order conditions of a linearization, or relaxation of integrality conditions. We apply the solution approach to a stylized nodal power-market equilibrium problem with binary on-off decisions. This illustrative example shows that our approach yields an exact solution to the binary Nash game with compensation. We discuss the resulting equilibria in terms of overall welfare, efficiency, and allocational equity.
DTSTART;VALUE=DATE:20150925
DTEND;VALUE=DATE:20150925
DTSTAMP:20150921T220000Z
URL:https://www.diw.de/de/diw_01.c.514119.de/veranstaltungen/an_exact_solution_method_for_binary_equilibrium_problems_with_compensation_and_the_power_market_uplift_problem.html
ORGANIZER;CN=Franziska Holz:mailto:fholz@diw.de
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