Studying the effects of CO2 emissions trading on the electricity market: A multi-agent-based approach

Anke Weidlich (), Frank Sensfuß (), Massimo Genoese () and Daniel Veit ()
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Anke Weidlich: University of Mannheim Chair of Business Administration and Information Systems E-Business and E-Governnent
Frank Sensfuß: Fraunhofer Institute for Systems and Innovation Research Breslauer
Massimo Genoese: University of Karlsruhe (TH) Institute for Industrial Production
Daniel Veit: University of Mannheim Chair of Business Administration and Information Systems E-Business and E-Governnent

A chapter in Emissions Trading, 2008, pp 91-101 from Springer

Abstract: Abstract In this paper, we present a basic approach for modeling electricity and emissions markets under the paradigm of agent-based computational economics (ACE). Different market players will be modeled as independent entities using autonomous software agents; they operate and communicate independently on power markets and on markets for emission allowances. The agent types involved and their relationships are described. The aim of the model is to investigate the interplay between the market players, with a focus lying on the dynamics in a market for CO2 emission allowances and its effects on the electricity markets. Simulations with this model will enable us to draw conclusions about the economic performance of different possible emissions trading design options

Keywords: Agent-based computational economics (ACE); liberalized electricity markets; multi-agent-based simulation; emissions trading; CO2 allowance markets (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-0-387-73653-2_6

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DOI: 10.1007/978-0-387-73653-2_6

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