Optimal Information Retrieval under Asymmetric Information in Constrained Power Markets

@article{Nuchprayoon2005OptimalIR,
  title={Optimal Information Retrieval under Asymmetric Information in Constrained Power Markets},
  author={Somboon Nuchprayoon and Miroslav Begovic and Damir Novosel},
  journal={Proceedings of the 38th Annual Hawaii International Conference on System Sciences},
  year={2005},
  pages={56-56}
}
The problem of asymmetric information in electricity market is due to uncertainty in determining individual cost functions in assessing the participants' bids. Individual loads or demand functions are assumed to be known to all participants. Based on the information asymmetry, it is proposed that individual generators may attempt to optimize their operating… CONTINUE READING