TY - GEN
T1 - A multi-resolution large population game framework for smart grid demand response management
AU - Zhu, Quanyan
AU - Basar, Tamer
PY - 2011
Y1 - 2011
N2 - Dynamic demand response (DR) management is becoming an integral part of power system and market operational practice. Motivated by the smart grid DR management problem, we propose a multi-resolution stochastic differential game-theoretic framework to model the players' intra-group and inter-group interactions in a large population regime. We study the game in both risk-neutral and risk-sensitive settings, and provide closed-form solutions for symmetric mean-field responses in the case of homogenous group population, and characterize the symmetric mean-field Nash equilibrium using the Hamilton-Jacobi-Bellman (HJB) equation together with the Fokker-Planck- Kolmogorov (FPK) equation. Finally, we apply the framework to the smart grid DR management problem and illustrate with a numerical example.
AB - Dynamic demand response (DR) management is becoming an integral part of power system and market operational practice. Motivated by the smart grid DR management problem, we propose a multi-resolution stochastic differential game-theoretic framework to model the players' intra-group and inter-group interactions in a large population regime. We study the game in both risk-neutral and risk-sensitive settings, and provide closed-form solutions for symmetric mean-field responses in the case of homogenous group population, and characterize the symmetric mean-field Nash equilibrium using the Hamilton-Jacobi-Bellman (HJB) equation together with the Fokker-Planck- Kolmogorov (FPK) equation. Finally, we apply the framework to the smart grid DR management problem and illustrate with a numerical example.
UR - https://www.scopus.com/pages/publications/84855721424
UR - https://www.scopus.com/pages/publications/84855721424#tab=citedBy
M3 - Conference contribution
AN - SCOPUS:84855721424
SN - 9781467303842
T3 - International Conference on NETwork Games, Control and Optimization, NetGCooP 2011
BT - International Conference on NETwork Games, Control and Optimization, NetGCooP 2011
T2 - International Conference on NETwork Games, Control and Optimization, NetGCooP 2011
Y2 - 12 October 2011 through 14 October 2011
ER -