2020
DOI: 10.3390/en13153982
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Applications of Game Theory to Design and Operation of Modern Power Systems: A Comprehensive Review

Abstract: In this work, we review papers that employ game theoretic tools to study the operation and design of modern electric grids. We consider four topics in this context: energy trading, energy balancing, grid planning, and system reliability, and we demonstrate the advantages of using game-theoretic approaches for analyzing complex interactions among independent players. The results and conclusions provide insights regarding many aspects of design and operation, such as efficient methodologies for expansion plannin… Show more

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Cited by 33 publications
(16 citation statements)
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References 124 publications
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“…The time amount spent between two repetitions of the Q-values updates is stated by σ with 0 < σ ≤ 1, and Q a i (δσ) represents the Q-values at time kσ. Therefore, if this equation takes an infinitesimal scheme, after taking the limit σ → 0, Equation (7) gets to Equation (8).…”
Section: Relating Egt and Q-learningmentioning
confidence: 99%
See 1 more Smart Citation
“…The time amount spent between two repetitions of the Q-values updates is stated by σ with 0 < σ ≤ 1, and Q a i (δσ) represents the Q-values at time kσ. Therefore, if this equation takes an infinitesimal scheme, after taking the limit σ → 0, Equation (7) gets to Equation (8).…”
Section: Relating Egt and Q-learningmentioning
confidence: 99%
“…Other works focused on cases in which coordination and negotiation problems lead to the analysis of agents interactions [6]. Other approaches related to applications in power control based on game theory are found in [7].…”
Section: Introductionmentioning
confidence: 99%
“…They further point that it is the science of strategy, or at least the optimal decision-making of independent and competing actors in a strategic setting [21]. Consequently, among many theoretical approaches, game theory has presented feasible solutions to modelling congestion [22]. In such a game, and for any given set of strategies, one for each player, the state for which the players obtain the highest possible utility (i.e.…”
Section: Theoretical Frameworkmentioning
confidence: 99%
“…Recently, the cooperative game theory approach has been applied in various areas because it can effectively find a balanced solution with much less computational effort [26]. Some applications of game theory for solving power system problems can be found in [27]. Examples of recent studies are on allocating the transmission losses [28,29], allocating the small power producer losses [30], allocating unit start-up costs of generators [31], constructing prosumer coalitions for energy cost savings [32], maintenance planning [33], and applications in distribution system expansion planning, including distributed generation [34].…”
Section: Introductionmentioning
confidence: 99%