New branch-and-bound rules for linear bilevel programming
SIAM Journal on Scientific and Statistical Computing
Discrete linear bilevel programming problem
Journal of Optimization Theory and Applications
The Deregulated Electricity Market Viewed as a Bilevel Programming Problem
Journal of Global Optimization
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We compare the effectiveness and efficiency of cap-and-trade and carbon tax policies in a generation expansion planning framework. The effectiveness refers to a policy's capability to control the amount of carbon emissions, and the efficiency is measured with respect to seven criteria: average emissions price, actual emissions, renewable energy portfolio, total generation, total profit of Gencos and grid owner, economic welfare, and emissions adjusted economic welfare. Cap-and-trade and four variations of carbon tax policies are integrated in a game-theoretic based generation expansion planning model to assess their impacts on new investment in renewable energy generation capacity. A case study is conducted on a 30-bus test system, and numerical results provide insights on the advantages and disadvantages of these policies.