Campus Units
Economics
Document Type
Article
Publication Version
Submitted Manuscript
Publication Date
2008
Journal or Book Title
IEEE Computational Intelligence Magazine
Volume
3
Issue
4
First Page or Article ID Number
56
Last Page
72
DOI
10.1109/MCI.2008.929843
Abstract
Wholesale power markets operating over transmission grids subject to congestion have distinctive features that complicate the detection of market power and operational inefficiency. This study uses a "wholesale power market test bed "with strategically learning traders to experimentally test the extent to "which market performance measures commonly used for other industries are informative for the dynamic operation of restructured "wholesale power markets. Examined measures include the Herfindahl-Hirschman index (HHI), the Lerner index (LI), the residual supply index (RSI), the relative market advantage index (RMAI), and the operational efficiency index (OEI).
Copyright Owner
IEEE
Copyright Date
2008
Language
en
File Format
application/pdf
Recommended Citation
Somani, Abhishek and Tesfatsion, Leigh, "An Agent-Based Test Bed Study of Wholesale Power Market Performance Measures" (2008). Economics Publications. 388.
https://lib.dr.iastate.edu/econ_las_pubs/388
Included in
Industrial Organization Commons, Other Electrical and Computer Engineering Commons, Power and Energy Commons
Comments
© 2008 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/MCI.2008.929843