Electricity Market Stochastic Dynamic Model and Its Mean Stability Analysis
Joint Authors
Lu, Zhanhui
Wang, Weijuan
Li, Gengyin
Xie, Di
Source
Mathematical Problems in Engineering
Issue
Vol. 2014, Issue 2014 (31 Dec. 2014), pp.1-8, 8 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2014-11-04
Country of Publication
Egypt
No. of Pages
8
Main Subjects
Abstract EN
Based on the deterministic dynamic model of electricity market proposed by Alvarado, a stochastic electricity market model, considering the random nature of demand sides, is presented in this paper on the assumption that generator cost function and consumer utility function are quadratic functions.
The stochastic electricity market model is a generalization of the deterministic dynamic model.
Using the theory of stochastic differential equations, stochastic process theory, and eigenvalue techniques, the determining conditions of the mean stability for this electricity market model under small Gauss type random excitation are provided and testified theoretically.
That is, if the demand elasticity of suppliers is nonnegative and the demand elasticity of consumers is negative, then the stochastic electricity market model is mean stable.
It implies that the stability can be judged directly by initial data without any computation.
Taking deterministic electricity market data combined with small Gauss type random excitation as numerical samples to interpret random phenomena from a statistical perspective, the results indicate the conclusions above are correct, valid, and practical.
American Psychological Association (APA)
Lu, Zhanhui& Wang, Weijuan& Li, Gengyin& Xie, Di. 2014. Electricity Market Stochastic Dynamic Model and Its Mean Stability Analysis. Mathematical Problems in Engineering،Vol. 2014, no. 2014, pp.1-8.
https://search.emarefa.net/detail/BIM-1044092
Modern Language Association (MLA)
Lu, Zhanhui…[et al.]. Electricity Market Stochastic Dynamic Model and Its Mean Stability Analysis. Mathematical Problems in Engineering No. 2014 (2014), pp.1-8.
https://search.emarefa.net/detail/BIM-1044092
American Medical Association (AMA)
Lu, Zhanhui& Wang, Weijuan& Li, Gengyin& Xie, Di. Electricity Market Stochastic Dynamic Model and Its Mean Stability Analysis. Mathematical Problems in Engineering. 2014. Vol. 2014, no. 2014, pp.1-8.
https://search.emarefa.net/detail/BIM-1044092
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1044092