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How to Characterise and Parameterise Agents in Electricity Market Simulation Models: The Case of Genersys

In: Empirical Agent-Based Modelling - Challenges and Solutions

Author

Listed:
  • George Grozev

    (The Commonwealth Scientific and Industrial Research Organisation (CSIRO))

  • Melissa James

    (The Commonwealth Scientific and Industrial Research Organisation (CSIRO))

  • David Batten

    (The Commonwealth Scientific and Industrial Research Organisation (CSIRO))

  • John Page

    (The Commonwealth Scientific and Industrial Research Organisation (CSIRO))

Abstract

This chapter describes the process of characterisation and parameterisation of computer agents in the case of decision making of profit-driven companies in a competitive electricity market. It focuses on adaptive behaviour of generation and investment companies in Australia’s National Electricity Market (NEM) as modelled by Genersys. Through initiatives such as formal focus group meetings, gathering observations of industry experts, analysing market data and a selective approach in representing real systems, modellers can improve the design and potential future use of their simulation systems.

Suggested Citation

  • George Grozev & Melissa James & David Batten & John Page, 2014. "How to Characterise and Parameterise Agents in Electricity Market Simulation Models: The Case of Genersys," Springer Books, in: Alexander Smajgl & Olivier Barreteau (ed.), Empirical Agent-Based Modelling - Challenges and Solutions, edition 127, chapter 9, pages 171-188, Springer.
    • Handle: RePEc:spr:sprchp:978-1-4614-6134-0_9
    DOI: 10.1007/978-1-4614-6134-0_9
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