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ThinkMind // ENERGY 2021, The Eleventh International Conference on Smart Grids, Green Communications and IT Energy-aware Technologies // View article energy_2021_3_50_30030
Optimal and Almost Optimal Strategies for Rational Agents in a Smart Grid
 Authors: Alexander Wallis Sascha Hauke Konstantin Ziegler Keywords: smart grid, game theory, nash equilibrium, prosumer, battery energy storage system Abstract: The rising tide of single household prosumers leads to a paradigm shift for power grid operators. Those prosumers are characterized by their consumption, production and storage capabilities. Via buying and selling electricity, every prosumer becomes a rational agent in the smart grid, trying to maximize one’s utility. The optimal short- and long-term behavior can now be analyzed using methods of game theory. In this paper, we present a game theoretic model for smart grids with rational prosumers. Using real-world data, we equipped every agent with a growing class of strategies and then compute the resulting Nash equilibria. The differences in prosumers’ utility between optimal and almost optimal strategy selection is given as the price if not knowing the future. Pages: 58 to 63 Copyright: Copyright (c) IARIA, 2021 Publication date: May 30, 2021 Published in: conference ISSN: 2308-412X ISBN: 978-1-61208-855-6 Location: Valencia, Spain Dates: from May 30, 2021 to June 3, 2021
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