a review of game theory-based approaches for demand side management in smart energy grids

Smart grid and demand side management have increased the interaction between energy suppliers and consumers. energy savings are possible through optimal resource allocation and energy utilization. this interaction helps reduce grid dependency, optimize resources. this paper reviews the socio-economic and reliability benefits of smart grid and focuses on the classification and analysis of recent studies that propose game theory approaches for optimizing demand side management. the analysis of each application, including cooperative and non-cooperative games, is carried out by analyzing the mechanisms and solution methods. based on the review of these studies, game theory applications on the demand side can be beneficial for the grid and the consumer. classification and review of recent works, proposing game theory approaches for optimal demand side management are considered in this paper. applications of different cooperative and non-cooperative games are analyzed by reviewing their mechanisms and solution methods. it is concluded from the review of these works that game theory applications on demand side is beneficial for both grid and the consumer.