个人信息Personal Information
副教授
硕士生导师
性别:女
毕业院校:大连理工大学
学位:硕士
所在单位:电气工程学院
学科:电力系统及其自动化
办公地点:基础部211
联系方式:13591799719 041184708923-602
电子邮箱:raoliu@dlut.edu.cn
Price-Taker Bidding Strategy Based on Mental Accounting
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论文类型:会议论文
发表时间:2008-04-21
收录刊物:EI、CPCI-S、Scopus
页面范围:1410-+
关键字:Bidding Strategy; electricity market; price spikes; tacit collusion
摘要:Using the concept of "Mental Accounting, MA" of Behavioral Economics, the paper analyses the psychology of GenCos when making a risk bidding decision. Based on the result of analysis, a novel risk decision-making framework is developed to help the price-taker GenCos obtain their satisfied step-wise bidding curves in a pay-as-bid auction. In this framework, the total generation of a GenCo is divided into three separate mental accounts and each has its own independent intent: the first is used to avoid the shut-down loss, the second is used to gain the normal profits, and the last is used to gain the excess profits. In each mental account, basic risk preference, the influence of expected profit goal, and the potential loss from the failure of bids are taken into consideration simultaneously. At last, illustrative example shows the results this framework yields are consistent with the real bidding behaviors of GenCos.