DocumentCode
2001195
Title
Simulating cost based bidding models in genersys
Author
Sugianto, L.-F. ; Grozev, G. ; Zhigang Liao ; James, Michael R. ; Page, Juan
Author_Institution
Fac. of Bus. & Econ., Monash Univ., Melbourne, VIC, Australia
fYear
2012
fDate
20-24 Nov. 2012
Firstpage
1481
Lastpage
1486
Abstract
This paper demonstrates the usefulness of an agent based model in studying the dynamics and economic performance of a competitive electricity market. An auction based market exhibits the characteristics of a complex adaptive system. An agent based model has been designed and implemented to mimic the operation of an electricity market. By running different simulation scenarios, we discover computational emergence on price and emission when generators employ different bidding models.
Keywords
multi-agent systems; power engineering computing; power markets; pricing; tendering; agent based model; auction based market; competitive electricity market; complex adaptive system; computational emergence; economic performance; emission; genersys; price; simulating cost based bidding models; Agent based model; complex adaptive systems; computational emergence; electricity market;
fLanguage
English
Publisher
ieee
Conference_Titel
Soft Computing and Intelligent Systems (SCIS) and 13th International Symposium on Advanced Intelligent Systems (ISIS), 2012 Joint 6th International Conference on
Conference_Location
Kobe
Print_ISBN
978-1-4673-2742-8
Type
conf
DOI
10.1109/SCIS-ISIS.2012.6505020
Filename
6505020
Link To Document