This paper models an electricity market with generators and customers located on a network. Generators bid cost functions and are dispatched by a system operator that minimizes the system cost while considering network constraints. We prove the existence of equilibrium and show that transmission...

This paper demonstrates the existence of pure strategy stationary Markov equilibrium in a class of dynamic stochastic games. Our main result implies the existence of behavior strategy stationary Markov equilibrium in any stochastic games in which the sets of actions are compact, the set of...

We characterize a class of dynamic stochastic games that we call separable dynamic games with noisy transitions and establish that these widely used models are protocol invariant provided that periods are sufficiently short. Protocol invariance means that the set of Markov perfect equilibria is...