Literature in the energy internet and associated market clearance mechanism dealt with game theory based modelling with standard test grid. Is there any other technique (like GA,ANN) that could be used for the same?
India has adopted its ABT pricing of Unscheduled Interchange, which has a pricing vector driven by the concurrent frequency. When frequency is higher than nominal, the price is lower. When frequency is lower than nominal, the price is higher. Prices are set every 15 minutes. I have written extensively on this concept, which when generalized is a Walrasian Auction. See my web site www,LivelyUtility.com. You can see a discussion of ABT pricing of UI at http://abt-india.blogspot.com/ Since you are at IIS, I would guess your are familiar with ABT pricing of UI.
Dear researcher
You can obtain market clearance price using Linear Programming and the constraints affected a value of market price can be linearized. For instance, shift factor matrices can be employed to linearize transmission constraints in the electricity market. CVX toolbox in Matlab is very helpful to model this problem.
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