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The mean square stability analysis of a stochastic dynamic model for electricity market

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Abstract

The mean square stability pertaining to a stochastic electricity market model is analyzed in this paper. Considering the random nature of demand elasticity, the stochastic electricity market model under small Gauss type random excitation has already been presented. Using the theory of stochastic differential equations, matrix theory and eigenvalue techniques, the sufficient conditions of the mean square stability for this electricity market model are provided and testified theoretically. The conclusions can judge the stability of the system by available data on demand elasticity. The obtained results are validated and illustrated by numerical examples.

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Acknowledgments

This work was jointly supported by the National Natural Science Foundation of China (51190103, 61374080), and a Project Funded by the Priority Academic Program Development of Jiangsu Higher Education Institutions.

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Authors and Affiliations

  1. School of Mathematics and Physical Science, North China Electric Power University, Beijing, 102206, China

    Zhanhui Lu & Weijuan Wang

  2. School of Mathematical Sciences and Institute of Finance and Statistics, Nanjing Normal University, Nanjing, 210023, China

    Quanxin Zhu

  3. School of Electrical and Electronic Engineering, North China Electric Power University, Beijing, 102206, China

    Gengyin Li

Authors
  1. Zhanhui Lu
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  2. Weijuan Wang
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  3. Quanxin Zhu
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  4. Gengyin Li
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Correspondence to Quanxin Zhu.

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The authors declare that there is no conflict of interests regarding the publication of this paper.

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Lu, Z., Wang, W., Zhu, Q. et al. The mean square stability analysis of a stochastic dynamic model for electricity market. Int. J. Mach. Learn. & Cyber. 8, 1071–1079 (2017). https://doi.org/10.1007/s13042-015-0472-0

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  • DOI: https://doi.org/10.1007/s13042-015-0472-0

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