Publication detail
Best response dynamics in waste-to-energy plants' price setting problem
ERYGANOV, I. ŠOMPLÁK, R. HRDINA, J. NEVRLÝ, V.
English title
Best response dynamics in waste-to-energy plants' price setting problem
Type
conference paper
Language
en
Original abstract
This paper deals with the task of waste energy recovery and effective price setting of waste-to-energy plants. Its main contribution is the invention of a new approach to pricing of waste disposal in a particular waste management network. This novel method, which is based on a problem of finding the Nash equilibrium, takes into account the amounts of waste production of cities, capacities of waste-to-energy plants and their locations. The best response dynamics algorithm enables the computation of Nash equilibrium for a game of waste-to-energy plants in a normal form with numerous players and multiple strategies in comparison with other standard algorithms. The algorithm is able to find the Nash equilibrium for a sufficiently big step size between possible gate fees. The results of this work are applicable in the forecasting of prices of waste-to-energy plants' services for real waste management networks.
English abstract
This paper deals with the task of waste energy recovery and effective price setting of waste-to-energy plants. Its main contribution is the invention of a new approach to pricing of waste disposal in a particular waste management network. This novel method, which is based on a problem of finding the Nash equilibrium, takes into account the amounts of waste production of cities, capacities of waste-to-energy plants and their locations. The best response dynamics algorithm enables the computation of Nash equilibrium for a game of waste-to-energy plants in a normal form with numerous players and multiple strategies in comparison with other standard algorithms. The algorithm is able to find the Nash equilibrium for a sufficiently big step size between possible gate fees. The results of this work are applicable in the forecasting of prices of waste-to-energy plants' services for real waste management networks.
Keywords in English
waste management, waste-to-energy plant, gate fee, game theory, Nash equilibrium, best response
Released
31.10.2021
Publisher
IOP Publishing
ISSN
1757-8981
Book
IOP conference series. Materials science and engineering
Volume
1196
Pages from–to
1–8
Pages count
8
BIBTEX
@inproceedings{BUT176727,
author="Ivan {Eryganov} and Radovan {Šomplák} and Jaroslav {Hrdina} and Vlastimír {Nevrlý},
title="Best response dynamics in waste-to-energy plants' price setting problem",
booktitle="IOP conference series. Materials science and engineering",
year="2021",
volume="1196",
month="October",
pages="1--8",
publisher="IOP Publishing",
issn="1757-8981"
}