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Analysis of M-stationary points to an EPEC modeling oligopolistic competition in an electricity spot market. (English) Zbl 1281.90056

This is an interesting paper showing that the assumptions often used when investigating EPECs can indeed be satisfied for a model describing a practical situation.
Abstract: “We consider an equilibrium problem with equilibrium constraints (EPEC) arising from the modeling of competition in an electricity spot market (under ISO regulation). For a characterization of equilibrium solutions, so-called M-stationarity conditions are derived. This first requires a structural analysis of the problem, e.g. verifying constraint qualifications. Second, the calmness property of a certain multifunction has to be verified in order to justify using M-stationarity conditions. Third, for stating the stationarity conditions, the coderivative of a normal cone mapping has to be calculated. Finally, the obtained necessary conditions are made fully explicit in terms of the problem data for one typical constellation. A simple two-settlement example serves as an illustration.”

MSC:

90C30 Nonlinear programming
49J53 Set-valued and variational analysis
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References:

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