IDEAS home Printed from https://ideas.repec.org/a/taf/uiiexx/v49y2017i2p159-177.html
   My bibliography  Save this article

Game-theoretic models for electric distribution resiliency/reliability from a multiple stakeholder perspective

Author

Listed:
  • Xiaojun (Gene) Shan
  • Frank A. Felder
  • David W. Coit

Abstract

We study decentralized decisions among resiliency investors for hardening electric distribution systems with governance, which could coordinate the achievement of social optimums. Significant investments are being made to build resilient infrastructure for society well-being by hardening electric distribution networks. However, whether independent investment decisions can reach social optimums is not well studied. Previous research has focused on optimization of system designs to improve resiliency with limited modeling efforts on the interactions of decentralized decision making. Within regulatory governance, we investigate interactions between two independent resiliency investors with a game-theoretic model incorporating detailed payoff functions. Moreover, we demonstrate the framework with typical data and sensitivity analyses. We find that the decentralized optimal solution is not a social optimum without governance and the government could subsidize grid hardening to achieve the social optimum. Additionally, we conduct Monte Carlo simulations by varying key parameters and find that a socially undesirable outcome could occur with the highest frequency. Therefore, it is important to narrow the uncertain ranges for particular benefits/costs and use policy instruments to induce the socially desired outcomes. These results yield important insights into the role of regulatory governance in supervising resiliency investors and highlight the significance of studying the interactions between independent investors.

Suggested Citation

  • Xiaojun (Gene) Shan & Frank A. Felder & David W. Coit, 2017. "Game-theoretic models for electric distribution resiliency/reliability from a multiple stakeholder perspective," IISE Transactions, Taylor & Francis Journals, vol. 49(2), pages 159-177, February.
  • Handle: RePEc:taf:uiiexx:v:49:y:2017:i:2:p:159-177
    DOI: 10.1080/0740817X.2016.1213466
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/0740817X.2016.1213466
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1080/0740817X.2016.1213466?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Shaoqing Geng & Hanping Hou & Shaoguang Zhang, 2020. "Multi-Criteria Location Model of Emergency Shelters in Humanitarian Logistics," Sustainability, MDPI, vol. 12(5), pages 1-21, February.
    2. Yeh, Wei-Chang, 2020. "A new method for verifying d-MC candidates," Reliability Engineering and System Safety, Elsevier, vol. 204(C).
    3. Yeh, Wei-Chang, 2024. "A new hybrid inequality BAT for comprehensive all-level d-MP identification using minimal paths in Multistate Flow Network reliability analysis," Reliability Engineering and System Safety, Elsevier, vol. 244(C).
    4. Yijun Shi & Guofang Zhai & Lihua Xu & Quan Zhu & Jinyang Deng, 2019. "Planning Emergency Shelters for Urban Disasters: A Multi-Level Location–Allocation Modeling Approach," Sustainability, MDPI, vol. 11(16), pages 1-19, August.
    5. Gheorghe Grigoraș & Livia Noroc & Ecaterina Chelaru & Florina Scarlatache & Bogdan-Constantin Neagu & Ovidiu Ivanov & Mihai Gavrilaș, 2021. "Coordinated Control of Single-Phase End-Users for Phase Load Balancing in Active Electric Distribution Networks," Mathematics, MDPI, vol. 9(21), pages 1-29, October.
    6. Hao, Zhifeng & Yeh, Wei-Chang & Zuo, Ming & Wang, Jing, 2020. "Multi-distribution multi-commodity multistate flow network model and its reliability evaluation algorithm," Reliability Engineering and System Safety, Elsevier, vol. 193(C).
    7. Diana Mitsova & Monica Escaleras & Alka Sapat & Ann-Margaret Esnard & Alberto J. Lamadrid, 2019. "The Effects of Infrastructure Service Disruptions and Socio-Economic Vulnerability on Hurricane Recovery," Sustainability, MDPI, vol. 11(2), pages 1-16, January.
    8. Muhammad Umar & Mark Wilson & Jeff Heyl, 2017. "Food Network Resilience Against Natural Disasters: A Conceptual Framework," SAGE Open, , vol. 7(3), pages 21582440177, July.
    9. Felder, F.A. & Kumar, P., 2021. "A review of existing deep decarbonization models and their potential in policymaking," Renewable and Sustainable Energy Reviews, Elsevier, vol. 152(C).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:uiiexx:v:49:y:2017:i:2:p:159-177. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/uiie .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.