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Game Theory for Smart Grid
Abstract
A smart grid is a modernized electrical grid that uses analog or digital information and communications technology to gather and act on information, such as information about the behaviors of suppliers and consumers, in an automated fashion to improve the efficiency, reliability, economics, and sustainability of the production and distribution of electricity. Therefore, smart grid is an evolved grid system that manages electricity demand in a sustainable, reliable, and economic manner, built on advanced infrastructure and tuned to facilitate the integration of all involved. Roll-out of smart grid technology also implies a fundamental re-engineering of the electricity services industry, although typical usage of the term is focused on the technical infrastructure. This chapter explores this idea.
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