Abstract
Game theory applies mathematical models in deciding interactions among people and their outcome. Mixed strategy Nash equilibrium in general exists in every game with a finite set of actions. Correlated equilibrium is a new solution concept in game theory that is more general than Nash Equilibrium and can be formulated with more accuracy on solutions. In this paper a Correlated Equilibrium based control has been extended to an Islanded Microgrid structure which depicts that scenario in smart-grids when it is isolated from the main power supply during power scarcity. The game theory based control has been shown to perform exceedingly well for the islanded scenario considering multi-agent structure. The individual agents are segregated by a superagent as potential buyers and sellers.A novel problem formulation is proposed and a Constrained variant of a newly proposed Differential Evolution Algorithm, ADE-LbX has been used for solving the non linear optimization problem. The final outcome has shown that the overall utility or satisfaction of agents is maximized extensively after energy trading besides maintaining trade advantage for each agent.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
