Exploiting complete linear descriptions for decentralized power market problems with integralities
Hümbs L, Martin A, Schewe L (2022)
Publication Language: English
Publication Type: Journal article
Publication year: 2022
Journal
URI: https://opus4.kobv.de/opus4-trr154/frontdoor/index/index/docId/279
DOI: 10.1007/s00186-022-00775-z
Open Access Link: https://rdcu.be/cJ2Xu
Abstract
It is well known that linear prices supporting a competitive equilibrium exist in the case of convex markets, however,in the presence of integralities this is open and hard to decide in general.We present necessary and sufficient conditions for the existence of such prices for decentralized market problems where market participants have integral decision variables and their feasible sets are given in complete linear description.We utilize total unimodularity and the aforementioned conditions to show that such linear prices exist and present some applications. Furthermore, we compute competitive equilibria for two classes of decentralized market problems arising in energy markets and show that competitive equilibria may exist regardless of integralities.
Authors with CRIS profile
Lukas Hümbs
Sonderforschungsbereich/Transregio 154: Mathematische Modellierung, Simulation und Optimierung am Beispiel von Gasnetzwerken
Alexander Martin
Economics - Discrete Optimization - Mathematics (EDOM)
Involved external institutions
United Kingdom (GB)How to cite
APA:
Hümbs, L., Martin, A., & Schewe, L. (2022). Exploiting complete linear descriptions for decentralized power market problems with integralities. Mathematical Methods of Operations Research. https://dx.doi.org/10.1007/s00186-022-00775-z
MLA:
Hümbs, Lukas, Alexander Martin, and Lars Schewe. "Exploiting complete linear descriptions for decentralized power market problems with integralities." Mathematical Methods of Operations Research (2022).
BibTeX: Download