Energy Seminar Series:  Hierarchy and Imperfect Competition in Power Markets afflicted by Uncertainty – December 3, 2026

Abstract:
Models for horizontal and hierarchical competition in power markets have been a source of significant interest over the last several decades. Yet less is known above computing equilibria in such settings particularly in the face of uncertainty. In this talk, we discuss  flexible modeling paradigms for capturing Nash and Stackleberg equilibria in such settings. We briefly discuss computational methods for rigorous computation of equilibria in such settings. Time permitting, we pose some open questions in this setting.

Biography:
Uday V. Shanbhag is currently the Katta G. Murty Collegiate Professor and  has been at the department of Industrial and Operations Engineering at the University of Michigan at Ann Arbor since Fall, 2024. From January 2017 to June 2024, he held the Gary and Sheila Chaired Professorship in the department of Industrial and Manufacturing Engineering (IME) at the Pennsylvania State University, having been a tenured associate professor until 2016, since arriving in Fall 2012. Prior to being at Penn. State, from 2006–2012, he was first an assistant professor, and subsequently a tenured associate professor (for approx. 10 days), in the department of Industrial and Enterprise Systems engineering (ISE) at the University of Illinois at Urbana-Champaign (UIUC). He serves on the editorial boards of the SIAM Journal of Optimization, the Mathematics of Operations Research, Computational Optimization and its Applications, and the Journal of Optimization Theory and Applications. Uday V. Shanbhag has a Ph.D. from Stanford University’s department of Management Science and Engineering (2006), with a concentration in operations research and was associated with the Systems Optimization Laboratory when at Stanford. He also holds masters (1998) and undergraduate (1993) degrees from the Massachusetts Institute of Technology (MIT), Cambridge (in Operations Research) and the Indian Institute of Technology (IIT), Bombay, respectively.