Paper Info
Title
An agent-based system for bilateral contracts of energy
Abstract
In this paper, an agent-based system for bilateral contracts of energy is proposed. The generating companies submit their offers to the demand companies. The demand companies also submit their bids to the generators. Each load or generator's agent wants to match with an opponent, which offers the most valuable proposal. However, the problem of simultaneous decision-making causes decision conflicts among the agents. To overcome this conflict, we assume loads as the leaders and generators as the followers. We use Stackelberg game to match the seller and buyer agents. The negotiation process between a buyer and its potential seller will determine the power price between them. This process is carried out through a proposed combined time-behavioral protocol (TBP). With negligible changes in around the agreed price, this protocol can reduce the negotiation time considerably. After successful negotiation, the seller and buyer agents could sign a bilateral contract of energy if the market conditions allow it. The applicability of the proposed method is illustrated through a case study.
Year
DOI
Venue
2011
10.1016/j.eswa.2011.03.005
Expert Syst. Appl.
Keywords
Field
DocType
load company,leader–follower concept,game theory,buyer agent,bilateral contract,demand company,proposed combined time-behavioral protocol,successful negotiation,agent-based system,power price,potential seller,negotiation process,generating company,negotiation time,stackelberg game
Computer science,Microeconomics,Game theory,Artificial intelligence,Adversary,Stackelberg competition,Bilateral contract,Market conditions,Machine learning,Negotiation
Journal
Volume
Issue
ISSN
38
9
Expert Systems With Applications
Citations 
PageRank 
References 
3
0.41
5
Authors
3
Name
Order
Citations
PageRank
Hamed Kebriaei17014.91
Ashkan Rahimi-Kian210815.42
Vahid Johari Majd315415.51