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Dynamic Testing of Wholesale Power Market Designs: An Open-Source Agent-Based Framework

Citations

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Cited by:

  1. Phil Wild & William Paul Bell & John Foster, 2012. "Impact of Carbon Prices: State Production Trends, Inter-state Trade and Carbon Emission Reduction Outcomes in the NEM over the period 2007- 2009," Energy Economics and Management Group Working Papers 6-2012, School of Economics, University of Queensland, Australia.
  2. Eric Guerci & Stefano Ivaldi & Silvano Cincotti, 2008. "Learning Agents in an Artificial Power Exchange: Tacit Collusion, Market Power and Efficiency of Two Double-auction Mechanisms," Computational Economics, Springer;Society for Computational Economics, vol. 32(1), pages 73-98, September.
  3. Balint, T. & Lamperti, F. & Mandel, A. & Napoletano, M. & Roventini, A. & Sapio, A., 2017. "Complexity and the Economics of Climate Change: A Survey and a Look Forward," Ecological Economics, Elsevier, vol. 138(C), pages 252-265.
  4. Bell, William Paul & Wild, Phillip & Foster, John & Hewson, Michael, 2017. "Revitalising the wind power induced merit order effect to reduce wholesale and retail electricity prices in Australia," Energy Economics, Elsevier, vol. 67(C), pages 224-241.
  5. José Bruno do Nascimento Clementino, 2022. "Documento de Trabalho 02/2022 - Modelagem baseada em agentes aplicada ao antitruste," Documentos de Trabalho 2022020, Conselho Administrativo de Defesa Econômica (Cade), Departamento de Estudos Econômicos.
  6. Alexander J. M. Kell & Matthew Forshaw & A. Stephen McGough, 2019. "ElecSim: Monte-Carlo Open-Source Agent-Based Model to Inform Policy for Long-Term Electricity Planning," Papers 1911.01203, arXiv.org.
  7. Mauro Napoletano, 2018. "A Short Walk on the Wild Side: Agent-Based Models and their Implications for Macroeconomic Analysis," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(3), pages 257-281.
  8. Rubin, Ofir D. & Babcock, Bruce A., 2011. "A novel approach for modeling deregulated electricity markets," Energy Policy, Elsevier, vol. 39(5), pages 2711-2721, May.
  9. Jean-Luc Gaffard & Mauro Napoletano, 2012. "Agent-based models and economic policy," Sciences Po publications info:hdl:2441/53r60a8s3ku, Sciences Po.
  10. Alexopoulos, Thomas A., 2017. "The growing importance of natural gas as a predictor for retail electricity prices in US," Energy, Elsevier, vol. 137(C), pages 219-233.
  11. G. Fagiolo & A. Roventini, 2009. "On the Scientific Status of Economic Policy: A Tale of Alternative Paradigms," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 6.
  12. Tao, Zhenmin & Moncada, Jorge Andrés & Poncelet, Kris & Delarue, Erik, 2021. "Review and analysis of investment decision making algorithms in long-term agent-based electric power system simulation models," Renewable and Sustainable Energy Reviews, Elsevier, vol. 136(C).
  13. Battula, Swathi & Tesfatsion, Leigh & McDermott, Thomas E., 2020. "An ERCOT test system for market design studies," Applied Energy, Elsevier, vol. 275(C).
  14. Kimbrough, Steven O. & Murphy, Frederic H., 2013. "Strategic bidding of offer curves: An agent-based approach to exploring supply curve equilibria," European Journal of Operational Research, Elsevier, vol. 229(1), pages 165-178.
  15. Rianne Duinen & Tatiana Filatova & Wander Jager & Anne Veen, 2016. "Going beyond perfect rationality: drought risk, economic choices and the influence of social networks," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 57(2), pages 335-369, November.
  16. Li, Gong & Shi, Jing, 2012. "Agent-based modeling for trading wind power with uncertainty in the day-ahead wholesale electricity markets of single-sided auctions," Applied Energy, Elsevier, vol. 99(C), pages 13-22.
  17. Albert Banal-Estañol & Augusto Rupérez Micola, 2009. "Composition of Electricity Generation Portfolios, Pivotal Dynamics, and Market Prices," Management Science, INFORMS, vol. 55(11), pages 1813-1831, November.
  18. LeBaron Blake & Winker Peter, 2008. "Introduction to the Special Issue on Agent-Based Models for Economic Policy Advice," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 228(2-3), pages 141-148, April.
  19. Krishnamurthy, Dheepak & Li, Wanning & Tesfatsion, Leigh, 2016. "An 8-Zone Test System Based on ISO New England Data: Development and Application," ISU General Staff Papers 201601010800001449, Iowa State University, Department of Economics.
  20. repec:hal:spmain:info:hdl:2441/1nlv566svi86iqtetenms15tc4 is not listed on IDEAS
  21. Albert Banal-Estañol & Augusto Rupérez-Micola, 2010. "Are agent-based simulations robust? The wholesale electricity trading case," Economics Working Papers 1214, Department of Economics and Business, Universitat Pompeu Fabra.
  22. Somani, Abhishek, 2012. "Financial risk management and market performance in restructured electric power markets: Theoretical and agent-based test bed studies," ISU General Staff Papers 201201010800003479, Iowa State University, Department of Economics.
  23. Auke Hoekstra & Maarten Steinbuch & Geert Verbong, 2017. "Creating Agent-Based Energy Transition Management Models That Can Uncover Profitable Pathways to Climate Change Mitigation," Complexity, Hindawi, vol. 2017, pages 1-23, December.
  24. Poplavskaya, Ksenia & Lago, Jesus & de Vries, Laurens, 2020. "Effect of market design on strategic bidding behavior: Model-based analysis of European electricity balancing markets," Applied Energy, Elsevier, vol. 270(C).
  25. Poursalimi Jaghargh, Mohammad Javad & Mashhadi, Habib Rajabi, 2021. "An analytical approach to estimate structural and behavioral impact of renewable energy power plants on LMP," Renewable Energy, Elsevier, vol. 163(C), pages 1012-1022.
  26. Rahimiyan, Morteza & Rajabi Mashhadi, Habib, 2010. "Evaluating the efficiency of divestiture policy in promoting competitiveness using an analytical method and agent-based computational economics," Energy Policy, Elsevier, vol. 38(3), pages 1588-1595, March.
  27. Anna Kowalska-Pyzalska & Katarzyna Maciejowska & Katarzyna Sznajd-Weron & Rafal Weron, 2013. "Going green: Agent-based modeling of the diffusion of dynamic electricity tariffs," HSC Research Reports HSC/13/05, Hugo Steinhaus Center, Wroclaw University of Technology.
  28. Banal-Estañol, Albert & Rupérez Micola, Augusto, 2011. "Behavioural simulations in spot electricity markets," European Journal of Operational Research, Elsevier, vol. 214(1), pages 147-159, October.
  29. Weron, Rafał, 2014. "Electricity price forecasting: A review of the state-of-the-art with a look into the future," International Journal of Forecasting, Elsevier, vol. 30(4), pages 1030-1081.
  30. Young, David & Poletti, Stephen & Browne, Oliver, 2014. "Can agent-based models forecast spot prices in electricity markets? Evidence from the New Zealand electricity market," Energy Economics, Elsevier, vol. 45(C), pages 419-434.
  31. Yu, Nanpeng & Liu, Chen-Ching & Tesfatsion, Leigh S., 2008. "Modeling of Suppliers Learning Behaviors in an Electricity Market Environment," Staff General Research Papers Archive 12976, Iowa State University, Department of Economics.
  32. Yu, Nanpeng & Tesfatsion, Leigh & Liu, Chen-Ching, 2012. "Financial Bilateral Contract Negotiation in Wholesale Electricity Markets Using Nash Bargaining Theory," ISU General Staff Papers 201201010800001470, Iowa State University, Department of Economics.
  33. Rubin, Ofir David, 2010. "Equilibrium pricing in electricity markets with wind power," ISU General Staff Papers 201001010800002361, Iowa State University, Department of Economics.
  34. J. Farmer & Cameron Hepburn & Penny Mealy & Alexander Teytelboym, 2015. "A Third Wave in the Economics of Climate Change," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 62(2), pages 329-357, October.
  35. Ringler, Philipp & Keles, Dogan & Fichtner, Wolf, 2016. "Agent-based modelling and simulation of smart electricity grids and markets – A literature review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 57(C), pages 205-215.
  36. Phil Wild & William Paul Bell & John Foster, 2012. "An Assessment of the Impact of the Introduction of Carbon Price Signals on Prices, Production Trends, Carbon Emissions and Power Flows in the NEM for the period 2007-2009," Energy Economics and Management Group Working Papers 4-2012, School of Economics, University of Queensland, Australia.
  37. repec:hal:spmain:info:hdl:2441/5qr7f0k4sk8rbq4do5u6v70rm0 is not listed on IDEAS
  38. repec:hal:spmain:info:hdl:2441/53r60a8s3kup1vc9l564igg8g is not listed on IDEAS
  39. Vijayanarasimha Hindupur Pakka & Richard Mark Rylatt, 2016. "Design and Analysis of Electrical Distribution Networks and Balancing Markets in the UK: A New Framework with Applications," Energies, MDPI, vol. 9(2), pages 1-20, February.
  40. Block, C. & Collins, J. & Ketter, W. & Weinhardt, C., 2009. "A Multi-Agent Energy Trading Competition," ERIM Report Series Research in Management ERS-2009-054-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 University Rotterdam.
  41. Karhinen, Santtu & Huuki, Hannu, 2020. "How are the long distances between renewable energy sources and load centres reflected in locational marginal prices?," Energy, Elsevier, vol. 210(C).
  42. repec:hal:wpspec:info:hdl:2441/53r60a8s3kup1vc9l564igg8g is not listed on IDEAS
  43. Ketter, Wolfgang & Collins, John & Reddy, Prashant, 2013. "Power TAC: A competitive economic simulation of the smart grid," Energy Economics, Elsevier, vol. 39(C), pages 262-270.
  44. Salehizadeh, Mohammad Reza & Soltaniyan, Salman, 2016. "Application of fuzzy Q-learning for electricity market modeling by considering renewable power penetration," Renewable and Sustainable Energy Reviews, Elsevier, vol. 56(C), pages 1172-1181.
  45. José Bruno do Nascimento Clementino, 2022. "Documento de Trabalho 002/2022 - Modelagem baseada em agentes aplicada ao antitruste," Documentos de Trabalho 22022, Conselho Administrativo de Defesa Econômica (Cade), Departamento de Estudos Econômicos.
  46. Mahvi, M. & Ardehali, M.M., 2011. "Optimal bidding strategy in a competitive electricity market based on agent-based approach and numerical sensitivity analysis," Energy, Elsevier, vol. 36(11), pages 6367-6374.
  47. Thompson, James R. & Frezza, Damon & Necioglu, Burhan & Cohen, Michael L. & Hoffman, Kenneth & Rosfjord, Kristine, 2019. "Interdependent Critical Infrastructure Model (ICIM): An agent-based model of power and water infrastructure," International Journal of Critical Infrastructure Protection, Elsevier, vol. 24(C), pages 144-165.
  48. Li, Hongyan & Sun, Junjie & Tesfatsion, Leigh S., 2009. "Separation and Volatility of Locational Marginal Prices in Restructured Wholesale Power Markets," Staff General Research Papers Archive 13075, Iowa State University, Department of Economics.
  49. Gaivoronskaia, E. & Tsyplakov, A., 2018. "Using a Modified Erev-Roth Algorithm in an Agent-Based Electricity Market Model," Journal of the New Economic Association, New Economic Association, vol. 39(3), pages 55-83.
  50. Poghosyan, Anush & Greetham, Danica Vukadinović & Haben, Stephen & Lee, Tamsin, 2015. "Long term individual load forecast under different electrical vehicles uptake scenarios," Applied Energy, Elsevier, vol. 157(C), pages 699-709.
  51. Azadeh, A. & Skandari, M.R. & Maleki-Shoja, B., 2010. "An integrated ant colony optimization approach to compare strategies of clearing market in electricity markets: Agent-based simulation," Energy Policy, Elsevier, vol. 38(10), pages 6307-6319, October.
  52. E. J. Anderson & T. D. H. Cau, 2009. "Modeling Implicit Collusion Using Coevolution," Operations Research, INFORMS, vol. 57(2), pages 439-455, April.
  53. Weidlich Anke & Veit Daniel, 2008. "Agent-Based Simulations for Electricity Market Regulation Advice: Procedures and an Example," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 228(2-3), pages 149-172, April.
  54. repec:spo:wpecon:info:hdl:2441/53r60a8s3kup1vc9l564igg8g is not listed on IDEAS
  55. G P Girish & Aviral Kumar Tiwari, 2016. "A comparison of different univariate forecasting models forSpot Electricity Price in India," Economics Bulletin, AccessEcon, vol. 36(2), pages 1039-1057.
  56. Phil Wild & William Paul Bell & John Foster, 2012. "The Impact of Carbon Pricing on Wholesale Electricity Prices, Carbon Pass-Through Rates and Retail Electricity Tariffs in Australia," Energy Economics and Management Group Working Papers 5-2012, School of Economics, University of Queensland, Australia.
  57. Dina A. Zaki & Mohamed Hamdy, 2022. "A Review of Electricity Tariffs and Enabling Solutions for Optimal Energy Management," Energies, MDPI, vol. 15(22), pages 1-17, November.
  58. Weidlich, Anke & Veit, Daniel, 2008. "A critical survey of agent-based wholesale electricity market models," Energy Economics, Elsevier, vol. 30(4), pages 1728-1759, July.
  59. Chandra, Yanto & Wilkinson, Ian F., 2017. "Firm internationalization from a network-centric complex-systems perspective," Journal of World Business, Elsevier, vol. 52(5), pages 691-701.
  60. repec:hal:spmain:info:hdl:2441/2qdhj5485p93jrnf08s1meeap9 is not listed on IDEAS
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