Purpose This paper aims to propose a novel approach to constructing an economic taxonomy that demonstrates the complex relationships between firms, which are not fully revealed by traditional industry classification systems such as the NAICS or ICB. Design/methodology/approach Based on narrative...

In this paper we propose an evolutionary imperfect information game approach to analyzing bidding strategies in electricity markets with price-elastic demand. In previous research, opponent generation companies’ (GENCOs’) bidding strategies were assumed to be fixed or subject to a fixed...