Work detail

Oligopolistic Markets in Terms of Equilibrium Problems with Equilibrium Constraints

Author: Mgr.& Bc. Michal Červinka
Year: 2006 - summer
Leaders: Ing. Ivo Koubek
Work type: Bachelors
Language: English
Pages: 31
Awards and prizes: B.A. with distinction from the Dean of the Faculty of Social Sciences for an excellent state-final examination performance and for an extraordinarily good bachelors diploma thesis
Abstract: In 2001 the brand-new concept of solving a situation on the deregulated electricity markets under an independent system operator (ISO) regime was presented. On this markets there are several energy producers supplying the market in the position of the market leaders and there is also the ISO possing as the single market follower. This game can be mathematically represented as a problem from the newly-emerged class of mathematical problems called Equilibrium Problems with Equilibrium Constraits (EPECs).
This bachelor thesis should serve as a state-of-the-art overview, i.e., the goal of this thesis is to map the existing literature on EPECs. The mathematical formulation of the deregulated electricity market problem under ISO regime is presented along with the general formulation of EPECs. We show the problematic intrinsic features of EPECs (e.g. lack of convexity, huge computational complexity) in terms of simple examples. In the end of the thesis the existing computational approaches are discussed.
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