Prospect Theory with Bounded Temporal Horizon for Modeling Prosumer Behavior in the Smart Grid

Prospect Theory with Bounded Temporal Horizon for Modeling Prosumer Behavior in the Smart Grid

We study prosumer decision-making in the smart grid in which a prosumer must decide whether to make a sale of solar energy units generated at her home every day or hold (store) the energy units in anticipation of a future sale at a better price. Specifically, we enhance a Prospect Theory (PT)-based...

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Bibliographic Details
Main Authors: Mohsen Rajabpour, Mohammad Yousefvand, Robert Mulligan, Narayan B. Mandayam
Format: Article
Language:English
Published: MDPI AG 2021-11-01
Series:Energies
Subjects:
prosumer behavior
prospect theory
smart grid
demand-side management
energy management
Online Access:https://www.mdpi.com/1996-1073/14/21/7134

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https://www.mdpi.com/1996-1073/14/21/7134

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