Game theory for power system optimization

What is it about?

In this paper we discuss some applications of game theory concepts and how they can be used to model some aspects of power system operation, control and pricing and solve. Both cooperative and non-cooperative game theory are referred to. Extensions to some topical areas like islanding, restoration after power out are also suggested.

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Why is it important?

Game theory concepts are powerful and has to be understood well and used more widely in engineering since the theory has very sound roots in many of the engineering problems.

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