Related papers: An Extended Mean Field Game for Storage in Smart G…
Traditionally, most consumers of electricity pay for their consumptions according to a fixed rate. With the advancement of Smart Grid technologies, large-scale implementation of variable-rate metering becomes more practical. As a result,…
Here, we introduce a price-formation model where a large number of small players can store and trade electricity. Our model is a constrained mean-field game (MFG) where the price is a Lagrange multiplier for the supply vs. demand balance…
Even when confronted with the same data, agents often disagree on a model of the real-world. Here, we address the question of how interacting heterogenous agents, who disagree on what model the real-world follows, optimize their trading…
The integration of microgrids that depend on the renewable distributed energy resources with the current power systems is a critical issue in the smart grid. In this paper, we propose a non-cooperative game-theoretic framework to study the…
Future electricity distribution grids will host a considerable share of the renewable energy sources needed for enforcing the energy transition. Demand side management mechanisms play a key role in the integration of such renewable energy…
The integration of distributed energy resources (DERs) into wholesale energy markets can greatly enhance grid flexibility, improve market efficiency, and contribute to a more sustainable energy future. As DERs -- such as solar PV panels and…
This paper proposes an energy management technique for a consumer-to-grid system in smart grid. The benefit to consumers is made the primary concern to encourage consumers to participate voluntarily in energy trading with the central power…
Smart metering infrastructure allows for two-way communication and power transfer. Based on this promising technology, we propose a demand-side management (DSM) scheme for a residential neighbourhood of prosumers. Its core is a discrete…
We consider a market where a finite number of players trade an asset whose supply is a stochastic process. The price formation problem consists of finding a price process that ensures that when agents act optimally to minimize their trading…
Pressure on ancillary reserves, i.e.frequency preserving, in power systems has significantly mounted due to the recent generalized increase of the fraction of (highly fluctuating) wind and solar energy sources in grid generation mixes. The…
We propose a real-time nodal pricing mechanism for cost minimization and voltage control in a distribution network with autonomous distributed energy resources and analyze the resulting market using stochastic game theory. Unlike existing…
Sharing economy is a transformative socio-economic phenomenon built around the idea of sharing underused resources and services, e.g. transportation and housing, thereby reducing costs and extracting value. Anticipating continued reduction…
In this paper, we investigate a practical demand side management scenario where the selfish consumers compete to minimize their individual energy cost through scheduling their future energy consumption profiles. We propose an instantaneous…
We present a new combined \textit{mean field control game} (MFCG) problem which can be interpreted as a competitive game between collaborating groups and its solution as a Nash equilibrium between groups. Players coordinate their strategies…
We consider the problem of energy management in microgrid networks. A microgrid is capable of generating a limited amount of energy from a renewable resource and is responsible for handling the demands of its dedicated customers. Owing to…
Mean field games (MFG) and mean field control problems (MFC) are frameworks to study Nash equilibria or social optima in games with a continuum of agents. These problems can be used to approximate competitive or cooperative games with a…
We study the optimal charging strategies for large-scale electric vehicles in smart grids within a finite-horizon mean field game framework. We first establish the existence and uniqueness of the solution to the consistency condition…
We consider network aggregative games to model and study multi-agent populations in which each rational agent is influenced by the aggregate behavior of its neighbors, as specified by an underlying network. Specifically, we examine systems…
The power consumption of households has been constantly growing over the years. To cope with this growth, intelligent management of the consumption profile of the households is necessary, such that the households can save the electricity…
In this paper, we propose a game between an exogenous adversary and a network of agents connected via a multigraph. The multigraph is composed of (1) a global graph structure, capturing the virtual interactions among the agents, and (2) a…