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Game theory and multi-commodity markets


Danijel Veljkovic, Goran Jevdjic

Warrington Joe, Kariotoglou Nikolaos

Several mechanisms exist for determining prices and quantities in markets today. However when the number of participants in a market becomes too small, abuses of market position are common. That is, a buyer or seller is able to affect final prices by expressing dishonest preferences, in order to achieve a greater profit than by expressing honest preferences.

This theoretical project aims to unify the concept of market power across different trading mechanisms, and investigate how and when a mechanism can counteract market power. There will be a focus on the trading of electricity for multiple time periods.

Some interest in economics and knowledge of optimization would be a great advantage. It would also be a plus if you have done a game theory course.

Weitere Informationen


Manfred Morari

Art der Arbeit: 80-100% theory, 0-20% simulation.
Anzahl StudentInnen: 1-2
Status: done
Projektstart: Early 2012