@inproceedings{6465a05175bb4400bfd0e393fbe495d9,
title = "A game-theoretic analysis of demand response in electricity markets",
abstract = "This paper presents a game-theoretic approach to demand response in electricity markets. A Stackelberg game model is developed to capture the interplay between a Demand Response Aggregator (DRA) and electricity generators, where the DRA acts the leader of the game and makes demand reduction bids by taking into account their profitability. The classical generators respond by adjusting their electricity generation levels which leads to an equilibrium solution of the resulting strategic (non-cooperative) game in the competitive wholesale electricity market. A numerical analysis of the Stackelberg game shows that highly concentrated markets during the peak hours are the most profitable scenarios for the demand response from the DRA's perspective.",
keywords = "Demand Response, Electricity market, Game theory",
author = "Ehsan Nekouei and Tansu Alpcan and Deb Chattopadhyay",
year = "2014",
month = jul,
doi = "10.1109/PESGM.2014.6939412",
language = "English",
series = "IEEE Power and Energy Society General Meeting",
publisher = "IEEE",
booktitle = "2014 IEEE PES General Meeting",
address = "United States",
note = "2014 IEEE Power and Energy Society General Meeting ; Conference date: 27-07-2014 Through 31-07-2014",
}