The Broker Simulation Model in the Emission Allowances Trading Area

Petr Cermak, Jarmila Zimmermannova, Jan Lavrincik, Miroslav Pokorny and Jiri Martinu
Additional contact information
Petr Cermak: Research Institute of the IT4Innovations Centre of Excellence, Faculty of Philosophy and Science, Silesian University, Bezruc Sq. 13, Opava, 74601, Czech Republic.
Jarmila Zimmermannova: Department of Economics, Moravian University College Olomouc, tr. Kosmonautu 1288/1, Olomouc, 77900, Czech Republic.
Jan Lavrincik: Department of IT and Applied Mathematics, Moravian University College Olomouc, tr. Kosmonautu 1288/1, Olomouc, 77900, Czech Republic.
Miroslav Pokorny: Department of IT and Applied Mathematics, Moravian University College Olomouc, tr. Kosmonautu 1288/1, Olomouc, 77900, Czech Republic.
Jiri Martinu: Research Institute of the IT4Innovations Centre of Excellence, Faculty of Philosophy and Science, Silesian University, Bezruc Sq. 13, Opava, 74601, Czech Republic.

International Journal of Energy Economics and Policy, 2015, vol. 5, issue 1, 80-95

Abstract: This paper is focused on possibilities of simulations of emission allowances trading within the EU emission trading system using new designed broker simulation model which integrates different original soft computing and decision making methods. Firstly, the paper presents the background of the EU emissions trading system and an overview of different methods used in current research connected with CO2 emission allowances trading. The key part of the paper focuses on the broker simulation model creation and application. The results are based on expert systems with fuzzy rule bases, nonlinear fuzzy rule based predictors and fuzzy rule based behavior modelling. The application part of the results has been performed in Matlab. The broker simulation model is able to make decisions connected with the traded amount, price of allowances and buy/sell actions within the time on the market.

Keywords: EU ETS; Fuzzy modelling; Broker (search for similar items in EconPapers)
JEL-codes: C44 Q48 Q58 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.econjournals.com/index.php/ijeep/article/view/966/566 (application/pdf)
http://www.econjournals.com/index.php/ijeep/article/download/966/566 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:2015-01-07

Access Statistics for this article

International Journal of Energy Economics and Policy is currently edited by Ilhan Ozturk

More articles in International Journal of Energy Economics and Policy from Econjournals
Bibliographic data for series maintained by Ilhan Ozturk ().