Modeling and implementation of an artificial electricity market using agent-based technology
This paper focuses on modeling power exchanges in a multi-agent interacting framework with reduced behavioral assumptions. A model of the day ahead market session of OMEL (the Spanish Power Exchange) is proposed using real demand data with simulated seller strategies. The number of sellers is defined at the first stage and the quantity of goods is distributed over the population of agents according to several initial distributions. A Clearing-house mechanism matches the cumulative demand and supply curves in order to determine the market-clearing price. The resulting price time-series are statistically tested to verify the validity of the model. Results show the main properties of real market and assess the validity of the proposed model.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 355 (2005)
Issue (Month): 1 ()
Pages: 69-76
| Handle: | RePEc:eee:phsmap:v:355:y:2005:i:1:p:69-76 |
| Contact details of provider: | Web page: http://www.journals.elsevier.com/physica-a-statistical-mechpplications/
|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Nicolaisen, James & Petrov, Valentin & Tesfatsion, Leigh S., 2000.
"Market Power and Efficiency in a Computational Electricity Market with Discriminatory Double-Auction Pricing,"
Staff General Research Papers Archive
1952, Iowa State University, Department of Economics.
- James Nicolaisen & Valentin Petrov & Leigh Tesfatsion, 2000. "Market Power and Efficiency in a Computational Electricity Market with Discriminatory Double-Auction Pricing," Computational Economics 0004005, EconWPA.
- Nicolaisen, James & Petrov, Valentin & Tesfatsion, Leigh S., 2001. "Market Power and Efficiency in a Computational Electricity Market with Discriminatory Double-Auction Pricing," Staff General Research Papers Archive 2050, Iowa State University, Department of Economics.
- Mendelson, Haim, 1982. "Market Behavior in a Clearing House," Econometrica, Econometric Society, vol. 50(6), pages 1505-24, November.
- Derek W. Bunn and Fernando Oliveira, 2001. "An Application of Agent-based Simulation to the New Electricity Trading Arrangements of England and Wales," Computing in Economics and Finance 2001 93, Society for Computational Economics.
- Ángel León & Antonio Rubia, 2001. "Comportamiento Del Precio Y Volatilidad En El Pool Eléctrico Español," Working Papers. Serie EC 2001-04, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.
When requesting a correction, please mention this item's handle: RePEc:eee:phsmap:v:355:y:2005:i:1:p:69-76. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Shamier, Wendy)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.