“…As bidding problem has dynamic interaction and market operations, both optimization and heuristic approaches are used to model and solve the bidding problem for market players. Optimal control (Liu and Wu, 2006), game theory (Song et al, 2003) and , Lagrangian relaxation (Zhang et al, 2000), dynamic programming (Jiang and Powell, 2015), bilevel programming and swarm (Zhang et al, 2010), information gap decision theory (Nojavan et al, 2015), Shuffled Frog Leaping Algorithm (Kumar and Kumar, 2014), point estimate method (Peik-Herfeh et al, 2013), stochastic cournot model (Sharma et al, 2014), stochastic optimization (Davatgaran et al, 2018), and (Song and Amelin, 2017), and simulation (Yucekaya, 2013) are some of the recent research areas on the bidding problem. It is also possible to use hybrid models and include operational characteristics to model and solve the bidding problem.…”