By Topic

Computer as thinking Agent: Modeling the European Power Markets using Agent-Based Simulation

Sign In

Cookies must be enabled to login.After enabling cookies , please use refresh or reload or ctrl+f5 on the browser for the login options.

Formats Non-Member Member
$31 $13
Learn how you can qualify for the best price for this item!
Become an IEEE Member or Subscribe to
IEEE Xplore for exclusive pricing!
close button

puzzle piece

IEEE membership options for an individual and IEEE Xplore subscriptions for an organization offer the most affordable access to essential journal articles, conference papers, standards, eBooks, and eLearning courses.

Learn more about:

IEEE membership

IEEE Xplore subscriptions

3 Author(s)
Keseric, N. ; Inst. of Power Syst. & Energy Econ., Vienna Univ. of Technol. ; Saguan, M. ; Hadjee, G.

The ongoing liberalization of the power sector adds a new dimension to the main issues in modeling of power systems. The very complex interactions and interdependencies among power market participants are much like those studied in game theory. However, the strategies used by market participants are often too complex to be conveniently modeled by standard game theoretic techniques. In addition, there has been much less research in the field of dynamic strategic behavior and their impact on the electricity price in European markets. In this paper, we show new prosperous combination of computational science and new ideas in evolutionary economics and cognitive science offering appealing extensions to traditional game theoretical modeling. We demonstrate the feasibility of implementing our approach in Matlab using learning algorithm and illustrate its advantages in more detailed and realistic representation of the strategic behavior of biggest power producers in European power market

Published in:

Computer as a Tool, 2005. EUROCON 2005.The International Conference on  (Volume:2 )

Date of Conference:

21-24 Nov. 2005