2 papers
math.OC2012
Pricing of Fluctuations in Electricity Markets
John N. Tsitsiklis, Yunjian Xu
In an electric power system, demand fluctuations may result in significant ancillary cost to suppliers. Furthermore, in the near future, deep penetration of volatile renewable elec…
math.OC2012
Efficiency Loss in a Cournot Oligopoly with Convex Market Demand
John N. Tsitsiklis, Yunjian Xu
We consider a Cournot oligopoly model where multiple suppliers (oligopolists) compete by choosing quantities. We compare the social welfare achieved at a Cournot equilibrium to the…