An Ontology Driven Model Approach for the Creation and Evaluation of Models in the Electricity Retail Market: A Research in Progress

Agent Based Simulation has enabled economist tomodel and analyse strategic decisions of participants as wellas political decision markers by using social-behavioural andeconomic technical aspects simultaneously. While Agent-basedSimulation has had a significant contribution to the study theenergy market by allowing economists and researchers to modelthe complexity and dynamics of real electricity markets, it hasproved to be limited in some ways: Agent-based models donot involve methodological aspects for enabling the creation ofmodels from a participative multi-disciplinary perspective. Inmany cases, modellers (programmers, economists or researchers) need to assume the knowledge of multiple domain areas fordesigning and implementing the models, they must have theability to handle different domain such as sociology, economyand computer science. This paper shows how the use of anOntology Driven Model approach in conjunction with methodsfrom the Agent Computational Economics and other comple-mentaries methodological aspects can contribute to improve such shortcomings.