Abstract
In power generation market, long-term contract is one of the common and important choices of power generation company and transaction center to pursue benefits and evade risks. With the negotiation means of certain transaction and uncertain transaction price, this paper adopts such concepts as Bayesian equilibrium of non-corporate game theory, discusses the rational conditions of contract price formation, and points out it has Bayesian equilibrium. This study lays an important foundation for the transactions and supervision of such contract patterns.
| Original language | English |
|---|---|
| Pages (from-to) | 30-34 |
| Number of pages | 5 |
| Journal | Dianli Xitong Zidonghua/Automation of Electric Power Systems |
| Volume | 27 |
| Issue number | 16 |
| State | Published - 25 Aug 2003 |
| Externally published | Yes |
Keywords
- Bayesian equilibrium
- Electricity market
- Game theory
- Long-term contract
- Negotiation means