.png){kind=icon}
返回
Solving oligopolistic equilibrium problems with convex optimization
.png){kind=icon}
OA
AI
DOI：10.1016/j.ejor.2020.01.025.png)
.png){kind=icon}
.png){kind=icon}
分享.png){kind=icon}
收藏
摘要
En 中文
The approach of choice to analyze markets with oligopolistic competition has traditionally been complementarity modeling. In this paper we show that the majority of partial equilibrium models under imperfect competition in the (energy-)economic literature can in fact be cast as optimization models, not requiring the derivation and implementation of Karush-Kuhn-Tucker conditions. This is achieved by adding appropriate terms accounting for market power exertion to the well-known social welfare maximization objective. The method is applicable to both spatial Cournot oligopoly models and hybrid competition forms often implemented using conjectural variation approaches. We show how optimization and complementarity problems are equivalent, and provide a rationale for the terms accounting for market power exertion. Resulting models are solved orders of magnitude faster using off-the-shelf optimization software, compared to solving complementarity problems. Large problem instances take minutes rather than hours, and one instance solves 640 times faster. The drastically reduced solution times greatly enhance modeling capabilities as they allow increased geographical scope and represent economic, technical and other characteristics in much more detail in equilibrium problems with imperfect competition. We present practical implications for the partial and multi-level equilibrium modeling community. (C) 2020 The Authors. Published by Elsevier B.V.
Keyword:
Convex programming
Partial equilibrium problems
Complementarity problems
Cournot oligopoly
Conjectural variation
AI总结
对已上传原文的论文进行重点信息的提取，主要内容包括：简要概述、研究摘要、背景介绍、关键亮点、图文解析、展望与总结。
期刊
IF:
6
论文数:
2.2W
被引数:
6.4W
机构
暂无机构信息
引用论文
Market power, fuel substitution and infrastructure - A large-scale equilibrium model of global energy markets.png)
ENERGYOAAI
ENERGYIF9.4
OAAI分享收藏Natural gas corridors between the EU and its main suppliers: Simulation results with the dynamic GASTALE model欧盟与其主要供应商之间的天然气走廊: 动态GASTALE模型的模拟结果ENERGY POLICY
ENERGY POLICYIF9.2
PREAI
分享收藏分享收藏Linear complementarity models of Nash-Cournot competition in bilateral and POOLCO power markets
PREAI
分享收藏High Affinity, Stability, and Lactonase Activity of Serum Paraoxonase PON1 Anchored on HDL with ApoA-IBiochemistry
BiochemistryIF0
PREAI
分享收藏
查看更多内容