University of Illinois Urbana-Champaign

Game theoretic formulations and solution methods for microeconomic market models

Schiro, Dane

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Dane_Schiro.pdf

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https://hdl.handle.net/2142/46757

Description

Title
Game theoretic formulations and solution methods for microeconomic market models
Author(s)
Schiro, Dane
Issue Date
2014-01-16T18:01:25Z
Director of Research (if dissertation) or Advisor (if thesis)
Pang, Jong-Shi
Doctoral Committee Chair(s)
Pang, Jong-Shi
Committee Member(s)
  • Shanbhag, Vinayak V.
  • Gross, George
  • Kim, Harrison H.M.
  • Nedich, Angelia
Department of Study
Industrial&Enterprise Sys Eng
Discipline
Industrial Engineering
Degree Granting Institution
University of Illinois at Urbana-Champaign
Degree Name
Ph.D.
Degree Level
Dissertation
Date of Ingest
2014-01-16T18:01:25Z
Keyword(s)
  • Game theory
  • variational inequalities
  • microeconomics
  • power markets
  • optimal control
Abstract
Microeconomic equilibrium problems are intimately related to game theory, but the current state of knowledge for several types of microeconomic problems is limited. This dissertation rigorously addresses several of these problems from the standpoint of variational inequality theory. In addition to proving theoretical results about problem properties, important microeconomic implications are discussed when applicable. The individual chapters of this work focus on: • equilibrium existence for perfectly competitive capacity expansion problems with risk-averse players; • a comprehensive analysis of the application of Lemke’s method to affine generalized Nash equilibrium problems; • the formulation and study of a unified power market model encompassing different microeconomic behavioral assumptions, capacity markets, emission permit auctions, and consumer surplus maximization; • an investigation of differential Nash games with mixed state-control constraints. Although the presented results are applicable to a broad class of games that satisfy certain structural properties, electricity markets represent a key application area underlying several of the chapters and are specifically addressed in Chapter 4. As a whole, this dissertation should clearly illustrate how variational inequality theory can be used to analyze these applications and should provide the basis for the development of effective solution methodologies. It should also provide deeper insights into complex microeconomic games that cannot be described solely with demand and supply curves. Suggestions for additional research are provided at the end of each chapter to motivate future work in the respective domains.
Graduation Semester
2013-12
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http://hdl.handle.net/2142/46757
Copyright and License Information
Copyright 2013 Dane Schiro

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