Evolutionary Analysis for Residential Consumer Participating in Demand Response Considering Irrational Behavior

Xiaofeng Liu, Qi Wang and Wenting Wang
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Xiaofeng Liu: School of Electrical and Automation Engineering, Nanjing Normal University, Nanjing 210023, China
Qi Wang: School of Electrical and Automation Engineering, Nanjing Normal University, Nanjing 210023, China
Wenting Wang: School of Electrical Engineering and Information Engineering, Lanzhou University of Technology, Lanzhou 730050, China

Energies, 2019, vol. 12, issue 19, 1-19

Abstract: Demand response (DR) has been recognized as a powerful tool to relieve energy imbalance in the smart grid. Most previous works have ignored the irrational behavior of energy consumers in DR project implementation. Accordingly, in this paper, we focus on solving two questions during the execution of DR. Firstly, considering the bounded rationality of residential users, a population dynamic model is proposed to describe the decision behavior on whether to participate in the DR project, and then the evolutionary process of consumers participating in DR is analyzed. Secondly, for the DR participants, they have to compete dispatching amounts for maximal profit in a day-ahead bidding market, hence, a non-cooperative game model is proposed to describe the competition behavior, and the uniqueness of the Nash equilibrium is analyzed with mathematical proof. Then, the distributed algorithm is designed to search the evolutionary result and the Nash equilibrium. Finally, a case study is performed to show the effectiveness of the formulated models.

Keywords: demand response; population evolution; irrational behavior; Markov state; non-cooperative game (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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