Research On Duopoly Game In Power Supply Market Under Information Asymmetry

The multi-agent game problem in power supply market has been widely concerned by scholars.In the study of oligopolistic market,the market hypothesis changes from complete information to incomplete information,in which the game of naive rationality,bounded rationality and different rational(heterogeneous)game players combining the two are constantly studied and perfected.The game model put forward by economists is more and more close to the actual consumer market.When the game is played between the naive and the bounded rational players,the bounded rational players are more likely to grasp the decision-making behaviors of competitors,thus possessing more market information than the naive rational players,resulting in information asymmetry.In the electricity market,the information held by each manufacturer is not the same.In this paper,based on the common competitive relations in the actual power supply market,the game models of electricity sales of different rational oligopolistic power plants and the investment game models of oligopolistic power retailers under information asymmetry are simplified,and the competitive interaction between game participants is described.All game players try to maximize their own profits by adjusting their strategies.(1)On the one hand,in the game model of power plants,oligopolistic power plants sell the generated electricity to the consumer market.On the other hand,one of the plants could sell some of the electricity it produces to the other for a fixed long-term contract price and store it,where,the naive power plant adjusts the selling strategy by historical market price weighting,while bounded rationality power plant adjusts the selling strategy by marginal profit weighting.(2)In the game model of power retailers,on the one hand,oligopolistic retailers purchase electricity from the wholesale market at a fixed price and store the purchased electricity in their own power storage equipment.On the other hand,retailers sell some of their stored electricity to consumers,making a profit from the difference,where naive rational retailers expect their competitors' strategies to be the same as the previous period to adjust their power purchasing strategies,while bounded rationalretailers adjust their power purchasing strategies through their own profit margins.In the above two models,after a period of evolutionary game,the bounded rational participants can accurately predict the naive rational participants' decision behavior in the next stage,so as to update and adjust their strategies.In the numerical simulation,the dynamic decision adjustment of two kinds of game players and the size of the stable domain of the system are compared in the case of information symmetry and information asymmetry.The simulation results show that the information asymmetry expands the stability regions compared with the information symmetry where neither party knows the information of the opponent.It is beneficial to the stability of the electricity consumption market that the bounded rational participants understand and master the information of the naive rational participants.When information asymmetry occurs,the effect on different rational participants is also different.As the adjustment rate of bounded rational actors increases,the system may lose stability due to bifurcation.Numerical simulation results also show that time-delay feedback control can stabilize chaotic behavior.It is of great significance to analyze the dynamic game model of heterogeneous duopoly in power supply market based on different rationality under information asymmetry for the future theoretical research and decision analysis.Through the study of this paper,it can provide a theoretical basis for deciders,the management can make relatively correct decisions.For the oligopolistic power suppliers in the power supply market,they should obtain as much information as possible about their competitors before making decisions,such as their adjustment structure and production and sales information.Analyzing the opponent's evolutionary strategy to develop the best strategy.The models can be applied to the actual power supply market and solve some practical problems.