Real-Time Pricing Decision Based on Leader-Follower Game in Smart Grid

Dai Yeming () and Gao Yan ()
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Dai Yeming: School of Management, University of Shanghai for Science and Technology, Shanghai200093, China;
Gao Yan: School of Management, University of Shanghai for Science and Technology, Shanghai200093, China;

Journal of Systems Science and Information, 2015, vol. 3, issue 4, 348-356

Abstract: The real-time pricing plays an important role in demand-side management for smart grid. In this paper, we study real-time pricing strategy of electricity retailers by means of game theory in smart grid. The retailers are in the game situation where there is one leader with multi-followers. We propose a real-time electricity demand function and analyze the interactions between the retailers, then obtain its equilibrium solution. The analysis and simulation results of the equilibrium solution show the effectiveness of the proposed method.

Keywords: smart grid; demand-side management; real-time pricing; game theory (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:bpj:jossai:v:3:y:2015:i:4:p:348-356:n:5

DOI: 10.1515/JSSI-2015-0348

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