Browsing by Subject "habit formation"
Now showing items 1-1 of 1
-
Electricity market equilibrium models with dynamic demand functions
Authors:
Publisher and Date:(2013)Many electricity market models have either mostly ignored the demand response to changing prices (e.g. day-ahead models with mostly fixed demand) or at the other extreme they assumed that the full demand response occurred within one hour. Moreover the capital stock adjustment and the forward-looking nature of consumers are usually omitted. In this paper we propose variational inequality models for electricity markets with dynamic demand models where the intertemporal nature of consumption (i.e. ...