El Farol Bar problem, Potluck problem and electric energy balancing - On the importance of communication

Abstract

Power balancing is an important issue when micro-grids in island mode are considered. It requires active, real-time decision making to minimise the imbalances. El Farol Bar and Potluck problems are artificial problems designed to challenge the decision making process in a situation of limited information. They are theoretical, ill-defined problems designed to show that rational decision making in a situation of scarce information can give worse results than non-rational behavior. Potluck problem can be compared to electric power balancing in microgrids. But due to reduced complexity and constraints of theoretical problems and differences in goal functions the approach has to be in each case different. The study of these differences in this paper shows the importance of exchange of information between participants (or agents); it also suggest what type of information are necessary in what conditions. The amount of information that needs to be exchanged depends on the relation between participants (agents): the less cooperating their relation is, the less information they are willing to exchange.