Analysis of a dynamic triopoly game in the electricity market with heterogeneous players

作者：Tu Hongliang^*; Ma Junhai; Li Xiaofei

来源：Journal of Computational Information Systems, 2012, 8(17): 7345-7353.

• Bifrucation
• Bifurcation diagram
• Complex dynamics
• Complexity
• Control methods
• Cournot
• Dynamical behaviors
• Electric power
• Electricity market
• Heterogeneous players
• Largest Lyapunov exponent
• Nash equilibrium point
• Phase portrait
• Repeated games
• Speed parameters
• Stable region
• Triopoly game

According to the repeated game model in electric power triopoly with bounded rational players, we build up a new Cournot triopoly game model with heterogeneous players which are closer to reality of the electricity market. By using the theory of bifurcations of dynamical systems, local stable region of Nash equilibrium point is obtained. Its complex dynamics is demonstrated by means of bifurcation diagrams, the largest Lyapunov exponents, and phase portraits, fractal dimensions. It is shown that altering the output adjustment speed parameters parameters of system can affect the stability of Nash equilibrium point and cause chaos to occur. Furthermore, the complex dynamical behaviors will disappear by parameters control method. It has an important theoretical and practical significance to the electricity market under the background of developing new energy.

• 出版日期2012
• 单位天津大学