An Agent-Based Test Bed Study of Wholesale Power Market Performance Measures
AbstractWholesale 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 the AMES 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). Related work can be accessed at: http://www.econ.iastate.edu/tesfatsi/AMESMarketHome.htm
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoPaper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 12977.
Date of creation: 19 Aug 2008
Date of revision:
Publication status: Published in IEEE Computational Intelligence Magazine, November 2008, vol. 3 no. 4, pp. 56-72
Contact details of provider:
Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
Phone: +1 515.294.6741
Fax: +1 515.294.0221
Web page: http://www.econ.iastate.edu
More information through EDIRC
Wholesale power markets; Performance measures; Agent-based test bed; Herfindahl-Hirschman Index (HHI); Lerner Index; Residual Supply Index; Relative Market Advantage Index; Operational Efficiency Index;
Find related papers by JEL classification:
- C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
- D4 - Microeconomics - - Market Structure and Pricing
- D6 - Microeconomics - - Welfare Economics
- L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
- L3 - Industrial Organization - - Nonprofit Organizations and Public Enterprise
- L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
- Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Li, Hongyan & Sun, Junjie & Tesfatsion, Leigh S., 2009. "Separation and Volatility of Locational Marginal Prices in Restructured Wholesale Power Markets," Staff General Research Papers 13075, Iowa State University, Department of Economics.
- Ketter, W. & Collins, J. & Reddy, P. & Weerdt, M.M. de, 2012. "The 2012 Power Trading Agent Competition," Research Paper ERS-2012-010-LIS, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni.
- Ketter, W. & Collins, J. & Reddy, P. & Flath, C. & Weerdt, M.M. de, 2011. "The Power Trading Agent Competition," Research Paper ERS-2011-027-LIS, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Stephanie Bridges) The email address of this maintainer does not seem to be valid anymore. Please ask Stephanie Bridges to update the entry or send us the correct address.
If references are entirely missing, you can add them using this form.