Published: Jun 4, 2009 4:44:00 PM
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The Department of Industrial and Systems Engineering at Auburn University will host its second seminar in the 2009 summer series on Friday, June 5, at 11:15 a.m. in 3210 Shelby Center. Pavee Siriruk, a doctoral student in the department, will discuss "Cournot Equilibrium: Considering Generator Outages and Fuel Cost Volatility."
The Cournot model is used by analysts to represent the evolving electricity market. It assumes perfect information about salient factors, such as generator outages and fuel cost for companies with uncertainties in electricity markets. Siriruk will present his research for long-term markets and assess the effect of uncertainty on Nash-equilibrium quantities, as well as market price under Cournot competition. He will also show how he enhanced the model and studied the effects on expected profit.
Visit www.eng.auburn.edu/insy for more on Auburn's Department of Industrial and Systems Engineering.
Contributed by Cassity Hughes