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An Algorithm for the Multiperiod Market Equilibrium Model with Geometric Distributed Lag Demand

Author

Listed:
  • Y. June Wu

    (Ryerson Polytechnic University, Toronto, Ontario, Canada)

  • J. David Fuller

    (University of Waterloo, Waterloo, Ontario, Canada)

Abstract

This paper presents a new equilibrium-seeking algorithm, called the decoupling algorithm , for calculation of multiperiod equilibrium of supplies and demands when demand has a geometric distributed lag (GDL) structure and supply is represented by a linear process submodel. The new algorithm is required because it may be difficult to obtain the equilibrium by a diagonalization algorithm such as PIES. In each step of the decoupling algorithm, a modified GDL equilibrium model, the “decoupled submodel,” is solved by the PIES algorithm; successive approximations move closer to the true equilibrium. Two versions of a large-scale realistic model of North American energy supplies and demands are solved with the decoupling algorithm to aid in understanding the behavior of the decoupling algorithm.

Suggested Citation

  • Y. June Wu & J. David Fuller, 1996. "An Algorithm for the Multiperiod Market Equilibrium Model with Geometric Distributed Lag Demand," Operations Research, INFORMS, vol. 44(6), pages 1002-1012, December.
    • Handle: RePEc:inm:oropre:v:44:y:1996:i:6:p:1002-1012
    DOI: 10.1287/opre.44.6.1002
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    Cited by:

    1. Li, Yang & Liu, Feng, 2021. "Joint inventory and pricing control with lagged price responses," International Journal of Production Economics, Elsevier, vol. 241(C).
    2. Chung, William, 2002. "WWW-WATEMS-GDL: an internet modelling system for energy policy models," Energy, Elsevier, vol. 27(6), pages 569-577.
    3. Wu, Y. June & Chung, William & Fuller, J. David, 2000. "Decomposing multi-regional dynamic energy process models," Applied Energy, Elsevier, vol. 66(3), pages 225-235, July.
    4. Wu, Y.June & Chung, William, 1997. "Assessing the control of energy-related CO2 emissions with a dynamic energy process model," Energy, Elsevier, vol. 22(7), pages 693-704.
    5. Jägemann, Cosima & Hagspiel, Simeon & Lindenberger, Dietmar, 2013. "The Economic Inefficiency of Grid Parity: The Case of German Photovoltaics," EWI Working Papers 2013-19, Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI).

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