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Conditions on the Energy Market Diversification from Adaptive Dynamics

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  • Hernán Darío Toro-Zapata
  • Gerard Olivar-Tost
  • Fabio Dercole

Abstract

We study a mathematical model based on ordinary differential equations to describe the dynamic interaction in the market of two types of energy called standard and innovative. The model consists of an adaptation of the generalized Lotka-Volterra system in which the parameters are assumed to depend on a quantitative and continuous attribute characteristic of energy generation. Using the analysis of the model the fitness function for the innovative energy is determined, from which conditions of invasion can be established in a market dominated by the conventional power. The canonical equation of the adaptive dynamics is studied to know the long-term behavior of the characteristic attribute and its impact on the market. Then we establish conditions under which evolutionary ramifications occur, that is to say, the requirements of coexistence and divergence of the characteristic attributes, whose occurrence leads to the origin of diversity in the energy market.

Suggested Citation

  • Hernán Darío Toro-Zapata & Gerard Olivar-Tost & Fabio Dercole, 2018. "Conditions on the Energy Market Diversification from Adaptive Dynamics," Mathematical Problems in Engineering, Hindawi, vol. 2018, pages 1-15, September.
    • Handle: RePEc:hin:jnlmpe:9181636
    DOI: 10.1155/2018/9181636
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    Cited by:

    1. Hernán Darío Toro-Zapata & Carlos Andrés Trujillo-Salazar & Fabio Dercole & Gerard Olivar-Tost, 2021. "Coffee Berry Borer (Hypothenemus hampei) and its role in the evolutionary diversification of the coffee market," Journal of Evolutionary Economics, Springer, vol. 31(3), pages 1029-1063, July.
    2. Anuraag Bukkuri & Joel S. Brown, 2021. "Evolutionary Game Theory: Darwinian Dynamics and the G Function Approach," Games, MDPI, vol. 12(4), pages 1-19, September.

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