Non-Smooth Dynamics in Energy Market Models: A Complex Approximation From System Dynamics and Dynamical Systems Approach
| Autor: | Johnny Valencia-Calvo, Carlos Jaime Franco-Cardona, Isaac Dyner, Jose Daniel Morcillo-Bastidas, Gerard Olivar-Tost |
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| Jazyk: | angličtina |
| Rok vydání: | 2020 |
| Předmět: |
General Computer Science
Dynamical systems theory Differential equation 020209 energy 02 engineering and technology Fillipov systems 0203 mechanical engineering 0202 electrical engineering electronic engineering information engineering Applied mathematics General Materials Science Energy market Mathematics Equilibrium point General Engineering modeling Complexity System dynamics Nonlinear system 020303 mechanical engineering & transports Investment decisions energy markets Piecewise lcsh:Electrical engineering. Electronics. Nuclear engineering lcsh:TK1-9971 dynamic systems energy policy |
| Zdroj: | IEEE Access, Vol 8, Pp 128877-128896 (2020) |
| ISSN: | 2169-3536 |
| Popis: | This paper reports a general model that describes the supply and demand of electricity in a national market based on the system dynamics (SD) approach. From the resulting SD model, it derives piecewise smooth (non-smooth) differential equations from the nonlinear functions and feedback cycles of the corresponding stock-flow structure. Subsequently, the stability of the equilibrium points and non-smooth dynamics of the SD model are investigated using the dynamical systems theory. Filippov systems are found in the proposed SD model and non-smooth vector fields associated with generators investment decisions are accumulated. Under this combining methodology, the non-smooth dynamics of energy markets that are governed by the supply and demand laws are uncovered mathematically and deeply described. In fact, we extend our investigation results to any energy market model attached to various investment decisions, confirming the generalizability of our research. |
| Databáze: | OpenAIRE |
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