The Use of Markov Chain Models for the Prediction of Power Demand and Market Share in Retail Electricity Markets.
Wei ZhangChao JiYuxing HaoHonghu ChengYouxia CaoChen YuanPublished in: ICITEE (2023)
Keyphrases
- markov chain
- electricity markets
- market share
- monte carlo simulation
- transition probabilities
- transition matrix
- steady state
- monte carlo
- market participants
- wind power
- markov models
- markov chain monte carlo
- stationary distribution
- gibbs sampler
- markov model
- bidding strategies
- unit commitment
- market clearing
- case study
- power generation
- software agents
- model selection
- supply chain
- state space
- probabilistic model