Using EPECs to Model Bilevel Games in Restructured Electricity Markets with Locational Prices

Xinmin Hu
Xinmin Hu
[email protected]
Australian School of Business, University of New South Wales, NSW 2052, Australia
Search for more papers by this author
,
Daniel Ralph
Daniel Ralph
[email protected]
Judge Business School, University of Cambridge, Cambridge CB2 1AG, United Kingdom
Search for more papers by this author

Xinmin Hu

[email protected]

Australian School of Business, University of New South Wales, NSW 2052, Australia

Search for more papers by this author

Daniel Ralph

[email protected]

Judge Business School, University of Cambridge, Cambridge CB2 1AG, United Kingdom

Search for more papers by this author

Published Online:1 Oct 2007https://doi.org/10.1287/opre.1070.0431

Supplemental Material

opre.1070.0431-sm-ec.pdf (72 KB)

Cited by
- The Cut-and-Play Algorithm: Computing Nash Equilibria via Outer Approximations
  Margarida Carvalho,
  Gabriele Dragotto,
  Andrea Lodi,
  Sriram Sankaranarayanan
  8 July 2025 | Operations Research, Vol. 74, No. 2
- Effect of grid expansion on interregional power dispatch towards carbon neutrality based on market equilibrium model
  Energy Economics, Vol. 151
- On decentralized computation of the leader’s strategy in bi-level games
  Automatica, Vol. 178
- Structural Program of Electricity Demand Response in Brazil: Bidding Strategy and Market Equilibria
- Modeling the coupling of China's multi-timescale electricity markets during the transition towards decarbonization and marketization
  Energy, Vol. 319
- On The Computational Complexity of Games with Uncertainty
  18 May 2025
- Equilibrium Analysis of Day-Ahead Electricity Markets With Strategic Demand Aggregators Based on the Theory of Learning in Games
  IEEE Access, Vol. 13
- Bilevel Optimization Framework for Multiregional Integrated Energy Systems Considering 6G Network Slicing and Battery Energy Storage Capacity Sharing
  IEEE Open Journal of the Industrial Electronics Society, Vol. 6
- Procurement auctions with losses
  9 July 2024 | Computational Management Science, Vol. 21, No. 2
- Triggering a variety of Nash-equilibria in oligopolistic electricity markets
  22 November 2023 | Optimization and Engineering, Vol. 25, No. 4
- δ -perturbation of bilevel optimization problems: An error bound analysis
  Operations Research Perspectives, Vol. 13
- On market clearing of day ahead auctions for European power markets: Consumer payment minimisation versus social welfare maximisation
  Energy Economics, Vol. 139
- When Nash Meets Stackelberg
  Margarida Carvalho,
  Gabriele Dragotto,
  Felipe Feijoo,
  Andrea Lodi,
  Sriram Sankaranarayanan
  22 December 2023 | Management Science, Vol. 70, No. 10
- A bilevel approach to multi-period natural gas pricing and investment in gas-consuming infrastructure
  Energy, Vol. 303
- Learning to bid in forward electricity markets using a no-regret algorithm
  Electric Power Systems Research, Vol. 234
- Multidimensional Evolution Effects on Non-Cooperative Strategic Games
  7 August 2024 | Mathematics, Vol. 12, No. 16
- Overcoming the central planner approach – Bilevel optimization of the European energy transition
  iScience, Vol. 27, No. 7
- Reverse auctions with transportation and convex costs
  5 February 2024 | Computational Management Science, Vol. 21, No. 1
- Optimal investment by large consumers in an electricity market with generator market power
  1 June 2024 | Computational Management Science, Vol. 21, No. 1
- Impact of green power trading mechanism on power generation and interregional transmission in China
  Energy Policy, Vol. 189
- Electricity market equilibria analysis on the value of demand-side flexibility portfolios’ mix and the strategic demand aggregators’ market power
  Sustainable Energy, Grids and Networks, Vol. 38
- Bilevel Nash Equilibrium Problems: Numerical Approximation Via Direct-Search Methods
  25 February 2023 | Dynamic Games and Applications, Vol. 14, No. 2
- Electricity sector impacts of water taxation for natural gas supply under high renewable generation
  Energy, Vol. 294
- Market equilibrium with strategic pricing and strategic constraints in renewable energy: the role of private energy storage
  21 March 2024 | Frontiers in Energy Research, Vol. 12
- Randomized Lagrangian stochastic approximation for large-scale constrained stochastic Nash games
  4 December 2023 | Optimization Letters, Vol. 18, No. 2
- Bilevel Optimization: Applications, Models and Solution Approaches
  29 December 2024
- Spatial Competition in Fast-Charging Networks
  1 January 2024 | SSRN Electronic Journal, Vol. 61
- Value at risk approach to producer's best response in an electricity market with uncertain demand
  15 May 2022 | Optimization, Vol. 72, No. 11
- Regularized Equilibrium Problems with Equilibrium Constraints with Application to Energy Markets
  2 August 2023 | SIAM Journal on Optimization, Vol. 33, No. 3
- Coal-Biomass Co-firing within Renewable Portfolio Standards: Strategic Adoption by Heterogeneous Firms and Emissions Implications
  1 September 2023 | The Energy Journal, Vol. 44, No. 5
- Electricity Market Equilibrium Analysis for Strategic Demand Aggregators: The Value of Demand Flexibility Portfolios' Mix
- On Finding the Leader’s Strategy in Quadratic Aggregative Stackelberg Pricing Games
- The equilibrium analysis and potential modifications on the China pilot electricity spot market
  Energy Economics, Vol. 122
- Strategic investment decisions in an oligopoly with a competitive fringe: An equilibrium problem with equilibrium constraints approach
  European Journal of Operational Research, Vol. 306, No. 3
- Load-Following Forward Contracts
  1 May 2023 | The Energy Journal, Vol. 44, No. 3
- On the computation of equilibria in monotone and potential stochastic hierarchical games
  23 November 2022 | Mathematical Programming, Vol. 198, No. 2
- On linear bilevel optimization problems with complementarity-constrained lower levels
  29 December 2021 | Journal of the Operational Research Society, Vol. 73, No. 12
- Efficient and Robust Equilibrium Strategies of Utilities in Day-Ahead Market With Load Uncertainty
  IEEE Systems Journal, Vol. 16, No. 4
- Hierarchical governance in invasive species survey campaigns
  Ecological Economics, Vol. 201
- Solving Bilevel Optimization Problems Using Kriging Approximations
  IEEE Transactions on Cybernetics, Vol. 52, No. 10
- A Noncooperative Game-Based Approach for Microgrid Planning Considering Existing Interconnected and Clustered Microgrids on an Island
  IEEE Transactions on Sustainable Energy, Vol. 13, No. 4
- Multiscale control of Stackelberg games
  Mathematics and Computers in Simulation, Vol. 200
- A tractable multi-leader multi-follower peak-load-pricing model with strategic interaction
  13 December 2021 | Mathematical Programming, Vol. 195, No. 1-2
- Bayesian Nash Equilibrium in Electricity Spot Markets: An Affine-Plane Approximation Approach
  IEEE Transactions on Control of Network Systems, Vol. 9, No. 3
- Reciprocal Dumping under Dichotomous Regulation
  1 September 2022 | The Energy Journal, Vol. 43, No. 5
- A multinational carbon-credit market integrating distinct national carbon allowance strategies
  Applied Energy, Vol. 319
- The spot and balancing markets for electricity: open- and closed-loop equilibrium models
  20 November 2021 | Computational Management Science, Vol. 19, No. 2
- Two-Stage Electricity Markets With Renewable Energy Integration: Market Mechanisms and Equilibrium Analysis
  IEEE Transactions on Control of Network Systems, Vol. 9, No. 2
- Competition among supply chains: the choice of financing strategy
  25 June 2020 | Operational Research, Vol. 22, No. 2
- Solving quadratic multi-leader-follower games by smoothing the follower's best response
  12 October 2020 | Optimization Methods and Software, Vol. 37, No. 2
- Local Stackelberg Equilibrium Seeking in Generalized Aggregative Games
  IEEE Transactions on Automatic Control, Vol. 67, No. 2
- Vertical integration and capacity investment in the electricity sector
  17 August 2021 | Journal of Economics & Management Strategy, Vol. 31, No. 1
- Extensions of Nash Games in Finite and Infinite Dimensions with Applications
  24 February 2012
- Imperfect Competition and Market Power
  15 November 2022
- Integrated Demand Response programs and energy hubs retail energy market modelling
  Energy, Vol. 234
- A Review on the Complementarity Modelling in Competitive Electricity Markets
  1 November 2021 | Energies, Vol. 14, No. 21
- A robust approach for modeling limited observability in bilevel optimization
  Operations Research Letters, Vol. 49, No. 5
- Single-Level Electricity Market Equilibrium With Offers and Bids in Energy and Price
  IEEE Transactions on Power Systems, Vol. 36, No. 5
- Outer approximation for global optimization of mixed-integer quadratic bilevel problems
  8 February 2021 | Mathematical Programming, Vol. 188, No. 2
- Nash equilibria in electricity pool markets with large-scale wind power integration
  Energy, Vol. 228
- Closing the gap in linear bilevel optimization: a new valid primal-dual inequality
  11 November 2020 | Optimization Letters, Vol. 15, No. 4
- Development of a Day-ahead Market Simulator based on Strategic Behaviors of Power Producers
  IEEJ Transactions on Power and Energy, Vol. 141, No. 6
- Balancing Large-Scale Wildlife Protection and Forest Management Goals with a Game-Theoretic Approach
  19 June 2021 | Forests, Vol. 12, No. 6
- Computing a Strategic Decarbonization Pathway: A Chance-Constrained Equilibrium Problem
  IEEE Transactions on Power Systems, Vol. 36, No. 3
- Computing Feasible Points of Bilevel Problems with a Penalty Alternating Direction Method
  Thomas Kleinert,
  Martin Schmidt
  22 June 2020 | INFORMS Journal on Computing, Vol. 33, No. 1
- Genericity Analysis of Multi-Leader-Disjoint-Followers Game
  12 August 2021 | SIAM Journal on Optimization, Vol. 31, No. 3
- Optimal Investment by Large Consumers in an Electricity Market with Generator Market Power
  SSRN Electronic Journal, Vol. 38
- Strictly and Γ-robust counterparts of electricity market models: Perfect competition and Nash–Cournot equilibria
  Operations Research Perspectives, Vol. 8
- A Column-and-Constraint Generation Algorithm to Find Nash Equilibrium in Pool-Based Electricity Markets
  Electric Power Systems Research, Vol. 189
- Technical Note—There’s No Free Lunch: On the Hardness of Choosing a Correct Big-M in Bilevel Optimization
  Thomas Kleinert,
  Martine Labbé,
  Fr¨ank Plein,
  Martin Schmidt
  30 June 2020 | Operations Research, Vol. 68, No. 6
- A nested Genetic Algorithm for Generation Planning in Electricity Market
- A Practical Scheme to Compute the Pessimistic Bilevel Optimization Problem
  Bo Zeng
  12 May 2020 | INFORMS Journal on Computing, Vol. 32, No. 4
- Endogenous price zones and investment incentives in electricity markets: An application of multilevel optimization with graph partitioning
  Energy Economics, Vol. 92
- The value of cooperation in interregional transmission planning: A noncooperative equilibrium model approach
  European Journal of Operational Research, Vol. 285, No. 2
- Simulation and Evaluation of Zonal Electricity Market Designs
  Electric Power Systems Research, Vol. 185
- Iterative Bidding in Electricity Markets: Rationality and Robustness
  IEEE Transactions on Network Science and Engineering, Vol. 7, No. 3
- Non-cooperative game-based multilateral contract transactions in power-heating integrated systems
  Applied Energy, Vol. 268
- An EPEC Analysis among Mobile Edge Caching, Content Delivery Network and Data Center
- Optimal storage and transmission investments in a bilevel electricity market model
  1 May 2018 | Annals of Operations Research, Vol. 287, No. 2
- Bilevel optimization based on iterative approximation of multiple mappings
  24 September 2019 | Journal of Heuristics, Vol. 26, No. 2
- Analysis of imperfect competition in natural gas supply contracts for electric power generation: A closed-loop approach
  Energy Economics, Vol. 87
- On electricity market equilibria with storage: Modeling, uniqueness, and a distributed ADMM
  Computers & Operations Research, Vol. 114
- The impact of generator market power on the electricity hedge market
  Energy Economics, Vol. 86
- Strategic-Agent Equilibria in the Operation of Natural Gas and Power Markets
  17 February 2020 | Energies, Vol. 13, No. 4
- On Stackelberg–Nash Equilibria in Bilevel Optimization Games
  24 November 2020
- Bilevel Optimization: Theory, Algorithms, Applications and a Bibliography
  24 November 2020
- A Short State of the Art on Multi-Leader-Follower Games
  24 November 2020
- Applications of Bilevel Optimization in Energy and Electricity Markets
  24 November 2020
- Complementarity, Not Optimization, is the Language of Markets
  IEEE Open Access Journal of Power and Energy, Vol. 7
- The structure of public-private sector collaboration in travel information markets: A game theoretic analysis
  Transportation Research Part A: Policy and Practice, Vol. 129
- Multi-Leader–Follower Game for MEC-Assisted Fusion-Based Vehicle On-Road Analysis
  IEEE Transactions on Vehicular Technology, Vol. 68, No. 11
- Electric Power Industry: Operational and Public Policy Challenges and Opportunities
  1 November 2019 | Production and Operations Management, Vol. 28, No. 11
- Electricity wholesale market equilibrium analysis integrating individual risk-averse features of generation companies
  Applied Energy, Vol. 252
- Learning From Past Bids to Participate Strategically in Day-Ahead Electricity Markets
  IEEE Transactions on Smart Grid, Vol. 10, No. 5
- Nonconvex equilibrium models for gas market analysis: Failure of standard techniques and alternative modeling approaches
  European Journal of Operational Research, Vol. 273, No. 3
- Using Karush-Kuhn-Tucker proximity measure for solving bilevel optimization problems
  Swarm and Evolutionary Computation, Vol. 44
- A Comprehensive Study of Game Theory Applications for Smart Grids, Demand side Management Programs and Transportation Networks
  18 January 2019
- Demand-Side Management and Demand Response for Smart Grid
  2 September 2018
- On supply-function equilibria in radial transmission networks
  European Journal of Operational Research, Vol. 271, No. 3
- Uniqueness and multiplicity of market equilibria on DC power flow networks
  European Journal of Operational Research, Vol. 271, No. 1
- Evaluating an Interconnection Project: Do Strategic Interactions Matter?
  1 November 2018 | The Energy Journal, Vol. 39, No. 6
- The Backpropagation Artificial Neural Network Based on Elite Particle Swam Optimization Algorithm for Stochastic Linear Bilevel Programming Problem
  Mathematical Problems in Engineering, Vol. 2018
- Bilevel Optimization Based on Kriging Approximations of Lower Level Optimal Value Function
- A solving method based on neural network for a class of multi-leader–follower games
  11 November 2016 | Neural Computing and Applications, Vol. 29, No. 12
- Can Merchant Demand Response Affect Investments in Merchant Energy Storage?
  IEEE Transactions on Power Systems, Vol. 33, No. 3
- An exact solution method for binary equilibrium problems with compensation and the power market uplift problem
  European Journal of Operational Research, Vol. 266, No. 2
- Bayesian and Robust Nash Equilibria in Hydrodominated Systems Under Uncertainty
  IEEE Transactions on Sustainable Energy, Vol. 9, No. 2
- A strategic gaming model for health information exchange markets
  6 September 2016 | Health Care Management Science, Vol. 21, No. 1
- On an equilibrium problem with complementarity constraints formulation of pay-as-clear electricity market with demand elasticity
  16 December 2017 | Journal of Global Optimization, Vol. 70, No. 2
- Variational Analysis in Set Optimization
  3 August 2018
- Uniqueness of market equilibria on networks with transport costs
  Operations Research Perspectives, Vol. 5
- Bilevel Fee-Setting Optimization for Cloud Monitoring Service Under Uncertainty
  IEEE Access, Vol. 6
- Decision Rule Bounds for Two-Stage Stochastic Bilevel Programs
  SIAM Journal on Optimization, Vol. 28, No. 1
- Modeling Coordination Between Renewables and Grid: Policies to Mitigate Distribution Grid Constraints Using Residential PV-Battery Systems
  SSRN Electronic Journal, Vol. 15
- Endogenous Price Zones and Investment Incentives in Electricity Markets: An Application of Multilevel Optimization With Graph Partitioning
  SSRN Electronic Journal, Vol. 22
- Modeling Coordination between Renewables and Grid: Policies to Mitigate Distribution Grid Constraints Using Residential PV-Battery Systems
  SSRN Electronic Journal, Vol. 173
- Generation flexibility in ramp rates: Strategic behavior and lessons for electricity market design
  European Journal of Operational Research, Vol. 261, No. 2
- Uniqueness of market equilibrium on a network: A peak-load pricing approach
  European Journal of Operational Research, Vol. 261, No. 3
- When doing nothing may be the best investment action: Pessimistic anticipative power transmission planning
  Applied Energy, Vol. 200
- A multi-lateral trading model for coupled gas-heat-power energy networks
  Applied Energy, Vol. 200
- Coordinated planning of generation capacity and transmission network expansion: A game approach with multi-leader-follower
  5 February 2017 | International Transactions on Electrical Energy Systems, Vol. 27, No. 7
- Basic theoretical foundations and insights on bilevel models and their applications to power systems
  6 March 2017 | Annals of Operations Research, Vol. 254, No. 1-2
- Bilateral Contract Transaction Model for Generation Companies and Large Consumers Based on Bayesian Game-Theoretic Approach
- Nash equilibrium in a pay-as-bid electricity market: Part 1 – existence and characterization
  19 October 2016 | Optimization, Vol. 66, No. 6
- Nash equilibrium in a pay-as-bid electricity market Part 2 - best response of a producer
  20 September 2016 | Optimization, Vol. 66, No. 6
- A Closed-Loop Supply Chain Equilibrium Model with Random and Price-Sensitive Demand and Return
  21 September 2016 | Networks and Spatial Economics, Vol. 17, No. 2
- Network Expansion to Mitigate Market Power
  27 February 2017 | Networks and Spatial Economics, Vol. 17, No. 2
- Electricity market mergers with endogenous forward contracting
  27 March 2017 | Journal of Regulatory Economics, Vol. 51, No. 3
- Evolutionary bilevel optimization using KKT proximity measure
- Game-Theoretic Optimization of Bilateral Contract Transaction for Generation Companies and Large Consumers with Incomplete Information
  13 June 2017 | Entropy, Vol. 19, No. 6
- Transmission expansion in an oligopoly considering generation investment equilibrium
  Energy Economics, Vol. 64
- Transmission network switching for reducing market power cost in generation sector: A Nash-equilibrium approach
  Electric Power Systems Research, Vol. 146
- A Game Theoretical Approach Based Bidding Strategy Optimization for Power Producers in Power Markets with Renewable Electricity
  4 May 2017 | Energies, Vol. 10, No. 5
- Decentralized Nash equilibrium seeking by strategic generators for DC optimal power flow
- On engineering game theory with its application in power systems
  19 January 2017 | Control Theory and Technology, Vol. 15, No. 1
- Evolutionary Bilevel Optimization: An Introduction and Recent Advances
  10 August 2016
- Mechanism Design and Auctions for Electricity Networks
  4 April 2018
- Finding Equilibria in the Pool-Based Electricity Market With Strategic Wind Power Producers and Network Constraints
  IEEE Transactions on Power Systems, Vol. 32, No. 1
- A New Method for Solving Multiobjective Bilevel Programs
  Discrete Dynamics in Nature and Society, Vol. 2017
- Nonconvex Equilibrium Models for Gas Market Analysis: Failure of Standard Techniques and Alternative Modeling Approaches
  SSRN Electronic Journal, Vol. 38
- Determining collusion opportunities in deregulated electricity markets
  Electric Power Systems Research, Vol. 141
- Agent-Based Modeling in Electrical Energy Markets Using Dynamic Bayesian Networks
  IEEE Transactions on Power Systems, Vol. 31, No. 6
- Transmission and generation investment in electricity markets: The effects of market splitting and network fee regimes
  European Journal of Operational Research, Vol. 254, No. 2
- Pool equilibria including strategic storage
  Applied Energy, Vol. 177
- Transmission capacities and competition in Western European electricity market
  Energy Policy, Vol. 96
- Competition driven bi-level supply offer strategies in day ahead electricity market
- Modeling the bids of wind power producers in the day-ahead market with stochastic market clearing
  Sustainable Energy Technologies and Assessments, Vol. 16
- Equilibria in the competitive retail electricity market considering uncertainty and risk management
  Energy, Vol. 106
- Decentralized Nash equilibrium learning by strategic generators for economic dispatch
- Solving optimistic bilevel programs by iteratively approximating lower level optimal value function
- An approximation scheme for a class of risk-averse stochastic equilibrium problems
  23 February 2016 | Mathematical Programming, Vol. 157, No. 2
- Water integration in eco-industrial parks using a multi-leader-follower approach
  Computers & Chemical Engineering, Vol. 87
- Solving Bilevel Multicriterion Optimization Problems With Lower Level Decision Uncertainty
  IEEE Transactions on Evolutionary Computation, Vol. 20, No. 2
- Dynamics of Market Power in ERCOT System: A Fundamental CSFE With Network Constraints
  IEEE Transactions on Power Systems, Vol. 31, No. 2
- Feasibility problems with complementarity constraints
  European Journal of Operational Research, Vol. 249, No. 1
- Renewable energy policy performance in reducing CO2 emissions
  Energy Economics, Vol. 54
- Investment Equilibria
  11 June 2016
- Deregulated electricity markets with thermal losses and production bounds: models and optimality conditions
  17 August 2015 | RAIRO - Operations Research, Vol. 50, No. 1
- TRAFFIC DISRUPTION IMPACTS ANALYSIS BY ECONOMIC EQUILIBRIUM MODEL CONSTRAINED USER EQUILIBRIUM
  Journal of Japan Society of Civil Engineers, Ser. D3 (Infrastructure Planning and Management), Vol. 72, No. 5
- An Existence Result for Hierarchical Stackelberg v/s Stackelberg Games
  IEEE Transactions on Automatic Control, Vol. 60, No. 12
- A smoothing method for a class of generalized Nash equilibrium problems
  7 March 2015 | Journal of Inequalities and Applications, Vol. 2015, No. 1
- National-strategic investment in European power transmission capacity
  European Journal of Operational Research, Vol. 247, No. 1
- Emissions control via carbon policies and microgrid generation: A bilevel model and Pareto analysis
  Energy, Vol. 90
- Bilevel programming for price-based electricity auctions: a revenue-constrained case
  EURO Journal on Computational Optimization, Vol. 3, No. 3
- Optimal Bidding Strategy of a Plug-In Electric Vehicle Aggregator in Day-Ahead Electricity Markets Under Uncertainty
  IEEE Transactions on Power Systems, Vol. 30, No. 5
- An MPEC reformulation of an EPEC model for electricity markets
  Operations Research Letters, Vol. 43, No. 3
- Multiple Equilibria in Oligopolistic Power Markets with Feed-in Tariff Incentives for Renewable Energy Generation
- MULTI-LEADER-FOLLOWER GAMES: MODELS, METHODS AND APPLICATIONS
  Journal of the Operations Research Society of Japan, Vol. 58, No. 1
- An Exact Solution Method for Binary Equilibrium Problems with Compensation and the Power Market Uplift Problem
  SSRN Electronic Journal, Vol. 60
- Easier than We Thought - A Practical Scheme to Compute Pessimistic Bilevel Optimization Problem
  SSRN Electronic Journal, Vol. 21
- A Shared-Constraint Approach to Multi-Leader Multi-Follower Games
  8 August 2014 | Set-Valued and Variational Analysis, Vol. 22, No. 4
- Stochastic EPEC approach for wind power trading in competitive electricity market
- Assessing impact of subjective demand beliefs on a dynamic duopoly electricity market game
  International Journal of Electrical Power & Energy Systems, Vol. 60
- Impacts of network expansion on generation capacity expansion
- Complex dynamics and chaos control of electricity markets with heterogeneous expectations
  29 June 2013 | International Transactions on Electrical Energy Systems, Vol. 24, No. 7
- A tutorial review of complementarity models for decision-making in energy markets
  EURO Journal on Decision Processes, Vol. 2, No. 1-2
- Design of Pareto optimal CO2 cap-and-trade policies for deregulated electricity networks
  Applied Energy, Vol. 119
- Constraints handling in Nash/Adjoint optimization methods for multi-objective aerodynamic design
  Computer Methods in Applied Mechanics and Engineering, Vol. 271
- Energy efficiency resource modeling in generation expansion planning
  Energy, Vol. 68
- Equilibria in an Oligopolistic Market With Wind Power Production
  IEEE Transactions on Power Systems, Vol. 29, No. 2
- Relaxation approach for equilibrium problems with equilibrium constraints
  Computers & Operations Research, Vol. 41
- Bilevel direct search method for leader–follower problems and application in health insurance
  Computers & Operations Research, Vol. 41
- Interaction of Generation Companies in the Electricity Market of Russia
  Procedia Computer Science, Vol. 31
- A Tri-Level Model of Centralized Transmission and Decentralized Generation Expansion Planning for an Electricity Market—Part II
  IEEE Transactions on Power Systems, Vol. 29, No. 1
- A Tri-Level Model of Centralized Transmission and Decentralized Generation Expansion Planning for an Electricity Market—Part I
  IEEE Transactions on Power Systems, Vol. 29, No. 1
- Equilibrium in Wholesale Energy Markets: Perturbation Analysis in the Presence of Renewables
  IEEE Transactions on Smart Grid, Vol. 5, No. 1
- National-Strategic Investment in European Power Transmission Capacity
  SSRN Electronic Journal, Vol. 34
- Network Expansion to Mitigate Market Power: How Increased Integration Fosters Welfare
  SSRN Electronic Journal, Vol. 109
- Market Power in a Power Market with Transmission Constraints
  SSRN Electronic Journal, Vol. 17
- A Dynamic Market Mechanism for Markets with Shiftable Demand Response
  IFAC Proceedings Volumes, Vol. 47, No. 3
- Models of Imperfect Competition in Analysis of Siberian Electricity Market
  International Journal of Energy Optimization and Engineering, Vol. 3, No. 1
- Two-stage stochastic equilibrium problems with equilibrium constraints: modeling and numerical schemes
  Optimization, Vol. 62, No. 12
- On the consistency of leaders' conjectures in hierarchical games
- Competition between two cities using cordon tolls: an exploration of response surfaces and possibilities for collusion
  Transportmetrica A: Transport Science, Vol. 9, No. 10
- Addressing supply-side risk in uncertain power markets: stochastic Nash models, scalable algorithms and error analysis
  Optimization Methods and Software, Vol. 28, No. 5
- Tacit collusion games in pool-based electricity markets under transmission constraints
  25 June 2013 | Mathematical Programming, Vol. 140, No. 2
- Open versus closed loop capacity equilibria in electricity markets under perfect and oligopolistic competition
  26 June 2013 | Mathematical Programming, Vol. 140, No. 2
- Mixed integer parametric bilevel programming for optimal strategic bidding of energy producers in day-ahead electricity markets with indivisibilities
  Optimization, Vol. 62, No. 8
- Short-Term Electricity Market Simulation for Pool-Based Multi-Period Auctions
  IEEE Transactions on Power Systems, Vol. 28, No. 3
- Generation Investment Equilibria With Strategic Producers—Part I: Formulation
  IEEE Transactions on Power Systems, Vol. 28, No. 3
- Generation Capacity Expansion Analysis: Open Loop Approximation of Closed Loop Equilibria
  IEEE Transactions on Power Systems, Vol. 28, No. 3
- Stochastic Nash equilibrium problems: sample average approximation and applications
  22 February 2013 | Computational Optimization and Applications, Vol. 55, No. 3
- Parameterization of Linear Supply Functions in Nonlinear AC Electricity Market Equilibrium Models—Part I: Literature Review and Equilibrium Algorithm
  IEEE Transactions on Power Systems, Vol. 28, No. 2
- Parameterization of linear supply functions in nonlinear AC electricity market equilibrium models - Part II: Case studies
  IEEE Transactions on Power Systems, Vol. 28, No. 2
- Capacity Expansion Equilibria in Liberalized Electricity Markets: An EPEC Approach
  IEEE Transactions on Power Systems, Vol. 28, No. 2
- Equilibrium Problems with Equilibrium Constraints
  19 June 2012
- Some Advanced Algorithms for VI Decomposition, MPCCs and EPECs
  19 June 2012
- Complementarity and Game-Theoretical Models for Equilibria in Energy Markets: Deterministic and Risk-Averse Formulations
  1 November 2013
- A Metaheuristic Framework for Bi-level Programming Problems with Multi-disciplinary Applications
- Existence, Uniqueness, and Computation of Robust Nash Equilibria in a Class of Multi-Leader-Follower Games
  SIAM Journal on Optimization, Vol. 23, No. 2
- Introducing CO2 Allowances, Higher Prices for All Consumers; Higher Revenues for Whom?
  SSRN Electronic Journal, Vol. 35
- Endogenous Shifts in OPEC Market Power: A Stackelberg Oligopoly with Fringe
  SSRN Electronic Journal, Vol. 13
- Strategic Generation Capacity Choice Under Demand Uncertainty: Analysis of Nash Equilibria in Electricity Markets
  SSRN Electronic Journal, Vol. 2
- Generation Capacity Investments in Electricity Markets: Perfect Competition
  SSRN Electronic Journal, Vol. 49
- Electricity spot market with transmission losses
  Journal of Industrial & Management Optimization, Vol. 9, No. 2
- A variational inequality method for computing a normalized equilibrium in the generalized Nash game
  9 March 2012 | Journal of Inequalities and Applications, Vol. 2012, No. 1
- Divide to conquer: decomposition methods for energy optimization
  24 June 2012 | Mathematical Programming, Vol. 134, No. 1
- Market power in emissions trading: Strategically manipulating permit price through fringe firms
  Applied Energy, Vol. 96
- Optimal Fuel, Power and Load-Based Emissions Trades for Electric Power Supply Chain Equilibrium
  IEEE Transactions on Power Systems, Vol. 27, No. 3
- Smoothing approach to Nash equilibrium formulations for a class of equilibrium problems with shared complementarity constraints
  3 June 2011 | Computational Optimization and Applications, Vol. 52, No. 2
- Equilibria in an Oligopolistic Electricity Pool With Stepwise Offer Curves
  IEEE Transactions on Power Systems, Vol. 27, No. 2
- Emissions Trading in Forward and Spot Markets for Electricity
  1 April 2012 | The Energy Journal, Vol. 33, No. 2
- Equilibria in futures and spot electricity markets
  Electric Power Systems Research, Vol. 84, No. 1
- Dynamic Competitive Equilibria in Electricity Markets
  29 November 2011
- An evolutionary algorithm based on Nash Dominance for Equilibrium Problems with Equilibrium Constraints
  Applied Soft Computing, Vol. 12, No. 1
- Variational Inequality Formulation of a Class of Multi-Leader-Follower Games
  10 August 2011 | Journal of Optimization Theory and Applications, Vol. 151, No. 3
- Capacity Expansion in the Integrated Supply Network for an Electricity Market
  IEEE Transactions on Power Systems, Vol. 26, No. 4
- Consequential Life Cycle Assessment With Market-Driven Design
  19 September 2011 | Journal of Industrial Ecology, Vol. 15, No. 5
- A Complementarity Framework for Forward Contracting Under Uncertainty
  Uday V. Shanbhag,
  Gerd Infanger,
  Peter W. Glynn,
  1 August 2011 | Operations Research, Vol. 59, No. 4
- Multi-period supply chain network equilibrium with capacity constraints and purchasing strategies
  Transportation Research Part C: Emerging Technologies, Vol. 19, No. 5
- Finding Multiple Nash Equilibria in Pool-Based Markets: A Stochastic EPEC Approach
  IEEE Transactions on Power Systems, Vol. 26, No. 3
- Assessing the impact of different auction-based CO2 allowance allocation mechanisms
- Strategic behavior in power markets under uncertainty
  20 May 2011 | Energy Systems, Vol. 2, No. 2
- Supply Chain Competition with Multiple Manufacturers and Retailers
  Elodie Adida,
  Victor DeMiguel,
  8 February 2011 | Operations Research, Vol. 59, No. 1
- Three modeling paradigms in mathematical programming
  28 July 2010 | Mathematical Programming, Vol. 125, No. 2
- On Cournot Equilibria in Electricity Transmission Networks
  A. Downward,
  G. Zakeri,
  A. B. Philpottt,
  1 July 2010 | Operations Research, Vol. 58, No. 4-part-2
- Welfare Effects of Expansions in Equilibrium Models of an Electricity Market With Fuel Network
  IEEE Transactions on Power Systems, Vol. 25, No. 3
- Monopolistic competition in electricity networks with resistance losses
  19 April 2009 | Economic Theory, Vol. 44, No. 1
- Overview of Electricity Market Equilibrium Problems and Market Power Analysis
  28 September 2010
- Computing the Electricity Market Equilibrium: Uses of Market Equilibrium Models
  28 September 2010
- Electricity Market Equilibrium with Reactive Power Control
  28 September 2010
- Market power in a power market with transmission constraints
- A two stage stochastic equilibrium model for electricity markets with forward contracts
- Generalized Nash Equilibrium Problems
  1 November 2009 | Annals of Operations Research, Vol. 175, No. 1
- Bilevel programming applied to power system vulnerability analysis under multiple contingencies
  IET Generation, Transmission & Distribution, Vol. 4, No. 2
- A two stage stochastic equilibrium model for electricity markets with two way contracts
  18 February 2009 | Mathematical Methods of Operations Research, Vol. 71, No. 1
- Capacity Planning and Scheduling in Electrical Power Systems and in Chemical and Metallurgical Production Plants
- Nash Dominance with Applications to Equilibrium Problems with Equilibrium Constraints
- Pool Strategy of a Producer With Endogenous Formation of Locational Marginal Prices
  IEEE Transactions on Power Systems, Vol. 24, No. 4
- A Stochastic Multiple-Leader Stackelberg Model: Analysis, Computation, and Application
  Victor DeMiguel,
  Huifu Xu,
  25 June 2009 | Operations Research, Vol. 57, No. 5
- Ressourceneinsatzplanung In der Energie- und Verfahrenstechnik
- The effects of multi-temporal electricity markets on short- and long-term bidding
- On M-stationary points for a stochastic equilibrium problem under equilibrium constraints in electricity spot market modeling
  Applications of Mathematics, Vol. 52, No. 6
- Market Power in Power Markets: Game Theory vs. Agent-Based Approach

Volume 55, Issue 5

September-October 2007

Pages ii-1000

Article Information

Supplemental Material

Metrics

Information

Received:April 01, 2005
Accepted:December 01, 2006
Published Online:October 01, 2007

Cite as

Xinmin Hu, Daniel Ralph, (2007) Using EPECs to Model Bilevel Games in Restructured Electricity Markets with Locational Prices. Operations Research 55(5):809-827.

https://doi.org/10.1287/opre.1070.0431

Keywords

PDF download

Available Issues

Available Issues

Available Issues

Available Issues

Available Issues

Available Issues

Available Issues

Available Issues

Available Issues

Using EPECs to Model Bilevel Games in Restructured Electricity Markets with Locational Prices

Supplemental Material

Volume 55, Issue 5

Article Information

Supplemental Material

Metrics

Information

Cite as

Keywords

Sign Up for INFORMS Publications Updates and News