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Game theory research paper
Game theory essay case study
Game theory essay case study
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GAME THEORY Project Phase I 1. Introduction Decision concerning electrical transmission network expansion has become harder in the last two decades. As a matter of fact, the power sector has been decentralized and the electricity market is now a competitive market. Thus a transmission expansion plan cannot follow the traditional planning criteria anymore. As a result, new techniques are developed in order to solve the transmission expansion problem TEP. Usually different optimization methods are used to solve the TEP: genetic algorithm (GA), Tabu search (TS) and several heuristic and metaheuristic techniques. Those are called static scenarios. Dynamic scenarios are the one based on game theory which represents the behavior of different participants in the electricity market. Different games and models like cournot, Stackelberg, bargaining etc.. are recently used to obtain an optimal decision concerning TEP. This paper presents a non-cooperative game theory approach in order to solve the TEP. First the transmission expansion problem is formulated in Section II in a manner to minimize the cost of the expansion subject to voltage, power flow and other constraints. In Section III, the proposed expansion plans given by the investors are subject to the following steps: valuation of the expansion plan, determining the optimal effort using a principle-agent model and the bidding competition in order to get the efficient bid. Section IV presents a numerical application using the classical Garver six-bus system. Finally conclusions are drawn in Section V. 2. Survey of previous work In the literature, there are examples of transmission expansion problems solved by cooperative and non-cooperative games. ... ... middle of paper ... ...7] J. D. Molina, J. Contreras, H. Rudnick, “A Principal-Agent Approach to Transmission Expansion—Part I: Regulatory Framework,” Power Systems, IEEE Transactions Vol. 28, pp 256- 263, 2013. [8] M. Jenabi, S. Mohammad, T. F. Ghomi, and Y.Smeers “Bi-Level Game Approaches for Coordination of Generation and Transmission Expansion Planning Within a Market Environment,” Power Systems, IEEE Transactions Vol. 28, pp. 2639 – 2650, 2013 [9] M. R. Hesamzadeh, D.R. Biggar, N.Hosseinzadeh, and P. J. Wolfs, “Transmission Augmentation With Mathematical Modeling of Market Power and Strategic Generation Expansion—Part I” Power Systems, IEEE Transactions Vol. 26, pp 2040-2048, 2011 [10] L.Xiaotong, L.Yimei, Z. Xiaoli, and Z.Ming “Generation and Transmission Expansion Planning Based on Game Theory in Power Engineering” Systems Engineering Procedia 4 (2012) 79 – 86.
To be a successful teacher not only in physical education but in all classroom settings you must be able to fully stimulate your students to think critically about the problem at hand. In sports thinking critically and making split second decisions can be the difference between winning and losing; through repetition students will be able to better identify which situations call for which moves. This ability to identify one's current situation in a given activity and react appropriately is referred to as tactical awareness; this is the basis for the tactical games model. Through implementing the tactical games model in your classroom your students will better understand not only the games being played but the tactics that are universal to all sports.
Energy suppliers are continually changing the tariffs and prices, therefore it is possible to save a considerable amount and stay with the same supplier. uSwitch can advise you which is the best tariff.
Despite attempting to predict the eventual outcome of the negotiation, I did not anticipate the confrontations between Local H-56 and the management of Hotel Zinnia. Although they initially agreed to engage in integrative bargaining, the union and management subsequently entered an intense negotiation. When Local H-56 presented its proposal of wage increases and health insurance, management immediately responded with a counterproposal that surprised the union. Both the union and management eventually behaved confrontationally, accusing each other of bargaining unreasonably and focusing on the trivial aspects of the negotiation. Moreover, as the union and management felt increasingly frustrated, they suffered from a lack of unity in their teams. The union could not fulfill its objectives because its lead negotiator prevented other team members from contributing to the negotiation. On the other hand, several team members of management struggled to assert their authority as the lead negotiator. After observing these issues, I ultimately believe that the union and management failed to achieve their individual objectives. Moreover, by approaching the negotiation with a zero-sum strategy, I assert that the union and management failed to reach a mutually beneficial contract. At the same time, both sides of the bargaining table lacked cohesive teams and therefore struggled under the pressure of the negotiation.
There are many different ways to save money and there are different things to save for. A savings plan for an immediate want is apparently different than a savings strategy for retirement. One may choose to select stocks, bonds, or mutual funds for a savings strategy, however, my personal choice is to invest in bonds first, then mutual funds.
After reading “The Most Dangerous Game” by Richard Connell. I have decided that the character that holds the most power was “General Zaroff”. I came to this conclusion based on the fact that he knew what was going to happen from the start. “General Zaroff” also held intimate knowledge of the island, a home base to receive medical treatment, backup from a bodyguard, a canine unit, and superior firepower.
Unfortunately, due to the recession of 2008 Vattenfall has had to put a brake on its ambitious expansion programme. It has major problems with is German coal and nuclear plants and gas plants in Holland. All because the market conditions in the European power sector have dramatically changed for the worse, because of the 2008 recession. Europe wide there has been a drop in demand for power resulting in lower wholesale energy prices. Also in Europe’s largest market Germany, the government has made significant changes its Energiewende, Germany's push to abandon nuclear energy and promote renewable sources.
The article addresses the issue of being successful in a highly uncertain business environment. Some managers prefer to play it safe by adopting a wait-and-see strategy while others may invest in flexibility that allows their companies to adapt quickly as the market evolves. The companies sometimes neglect the fact that having a successful strategy depends on several factors, including their industry position, assets, or their willingness to take a risk in investing in such strategies. The paper introduced some of the tips and terminologies that could help managers facing uncertainty decide on whether to play safe or bet big. The traditional practice is to put a vision of predicted future events
“One of the very nice things about investing in the stock market is that you learn about all different aspects of the economy. It's your window into a very large world,” Ron Chernow once said. The stock market is undoubtedly an incredibly important economic feature, one that our modern world depends on. Indeed, the stock market is so integral to our life today that it can serve as a valuable tool where financial literacy is concerned. Two of the most important financial lessons that the stock market teaches are financial literacy terminology as well as a historical understanding of stock market institutions. The Stock Market Game simulation serves to teach these lessons in a secure environment, and
To test these models in collusion, bidders interact in a three-stage game and can be of type risk neutral, strong or weak. In the first stage, the strong bidders vote for or against forming a cartel and a cartel is only formed if they all agree. When they form a cartel they incur a cost. In the second stage, if a cartel is formed the strong bidders interact in a pre-auction knock-out mechanism where all bidders submit a sealed bid and the highest bidd...
The topic for my real world negotiation is to come to an agreement with my supervisor for a promotion as well as an increased salary. I currently work as a student assistant at the student services Planning, Enrollment Management, and Student Affairs (PEMSA) department. My goal is to increase my hourly pay from $10.15 to $12.70, a 25% increase. Having worked in this department for three years, I have taken on tasks not part of my job description such as processing return mail, data entry, and supervision.
In the previous decennium, enormous attentions were elevated on the subject of distributed generation units, for instance solar photovoltaic panels, wind turbine generators, fuel cells, and so on. These Distributed Generations ...
Hollows, P 2002, 'Essentials of a smooth-running network', Communications News, vol. 39, no. 7, p. 16.
For eg:- many conventional boilers could be replaced by gasifies and a gas turbine stage could be added to the steam turbines to give a combined cycle operation producing 25 to 30 per cent more power from the same amount of coal. Increasing the plant load factor (PLF) of existing thermal plants is another area which offers good scope for energy planning. It is estimated that one per cent increase in PLF yields additional 4 billion units of electricity costing rupees 2,500
A cost-effective power supply system should be planned carefully to include possible future development of production areas and infrastructure. Installation of new power supply points is costly and careful attention to initial planning will save costs at a later stage.
Artificial Intelligence is a machine which can think and do work for the human. AI can have many applications and can be used anywhere in the universe. My Project is about AI in Power Stations. We will discuss about how the AI techniques can be used in power stations to increase the supply of power and everything. Power Stations have tremendous growth this can be increased more by using some AI Techniques. We even have some faults in the power stations as we make use of transformers, generators and Transmission lines. Power station is defined as the it is one of the industrial facility used to generate the power. In this they burn the fuels like coal, oil to generate the power and electricity. We have different kinds of the Stations they are Thermal power stations, Hydal power stations and nuclear power stations.