Campus Units

Economics

Document Type

Conference Proceeding

Conference

2007 IEEE Power Engineering Society General Meeting

Publication Version

Submitted Manuscript

Link to Published Version

http://dx.doi.org/10.1109/PES.2007.385709

Publication Date

2007

Journal or Book Title

Proceedings of the IEEE Power and Energy Society General Meeting

DOI

10.1109/PES.2007.385709

Conference Title

2007 IEEE Power Engineering Society General Meeting

Conference Date

June 24-28, 2007

City

Tampa, FL

Abstract

This study reports on the model development and open-source implementation (in Java) of an agent-based computational wholesale power market organized in accordance with core FERC-recommended design features and operating over a realistically rendered transmission grid. The traders within this market model are strategic profit-seeking agents whose learning behaviors are based on data from human-subject experiments. Our key experimental focus is the complex interplay among structural conditions, market protocols, and learning behaviors in relation to short-term and longer-term market performance. Findings for a dynamic 5-node transmission grid test case are presented for concrete illustration.

Comments

© 2007 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works. DOI: 10.1109/PES.2007.385709

Copyright Owner

IEEE

Language

en

File Format

application/pdf

Published Version

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Article Location

 
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