75-93

• Κακογιάννης, Νικόλαος Χρ.

The purpose of this paper is to formulate and study a game where there is a player who is involved for a long time interval and several small players who stay in the game for short time intervals. Examples of such games abound in practice. For example a Bank is a long-term player who stays in business for a very long time whereas most of its customers are affiliated with the Bank for relatively short time periods. Another example is the Hellenic Electrical Grid. There is the Grid Administrator, which is the major long time player, and there are many minor players (power producers with different technologies, quantity and quality features). The Grid Administrator is considered to have an infinite time horizon and the minor players are considered as players who stay in the game for a fixed period of five years (indicative number). A minor producer/consumer who enters the system a certain year is considered as one player who is involved for five (specific) time levels. This player overlaps in action with the other players who entered at different time and with the Grid Administrator. The minor players (energy producers) try to improve their strategies, by changing their profile, so as to penetrate in the electrical grid and succeed to sell more energy to the Grid (improve their profits). The Grid Administrator tries to imply the best policy so as to improve his gain.

• Economics and Business
• Computer and information sciences

• Finance
• Business management
• Statistics

energy optimization cost, decision policy tool, strategies, liberalized energy market

Περιέχει εικόνα, πίνακες και βιβλιογραφία

1. Balasko, Y. and Shell, K., 1980. The Overlapping-Generations Model, I: The case of Pure Exchangewithout Money, Journal of Economic Theory, 23, pp. 281-306.Georgakellos, D., 2007. External cost of air pollution from thermal power plants: case of Greece(2007), International Journal of Energy Sector Management, Vol. 1, Issue: 3, pp. 257-272.Greek Law Ν. 3296/2004 Greek Law for the Income Taxation.Greek Law Ν. 3468/06 Greek Law for Electrical Energy Production by Renewable Sources ofEnergy.Greek Law Ν. 3851/2010 Greek Law for the acceleration of the development of Renewable Sourcesof Energy.Kakogiannis, N. Ch. and Papavassilopoulos, G. P, 2010. Games with Players Having Long Term andShort Term Horizons, 14th International Symposium of Dynamic Games, Banff Center, Banff,Alberta, Canada, 19-23 July 2010.Kakogiannis, N. Ch. and Papavassilopoulos, G. P., 2011. Stackelberg Strategies for Dynamic Gameswith energy players having Different Time Durations, Fifth International Conference onGame Theory and Management, GSOM St. Petersburg University, Russia, June 27-29.Samuelson, P., 1958. “An exact consumption loan model of interest with or without the social contrivanceof money”, Journal of Political Economy, 66(6), December 1958, 467-482.