Agent-based modeling and simulation of competitive wholesale electricity markets

Eric Guerci, Mohammad Ali Rastegar and Silvano Cincotti
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Mohammad Ali Rastegar: Chercheur indépendant
Silvano Cincotti: DIME - Dipartimento di ingegneria meccanica, energetica, gestionale e dei trasporti - UniGe - Università degli studi di Genova = University of Genoa

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Abstract: This paper sheds light on a promising and very active research area for electricity market modeling, that is, agent-based computational economics. The intriguing perspective of such research methodology is to succeed in tackling the complexity of the electricity market structure, thus the fast-growing literature appeared in the last decade on this field. This paper aims to present the state-of-the-art in this field by studying the evolution and by characterizing the heterogeneity of the research issues, of the modeling assumptions and of the computational techniques adopted by the several research publications reviewed.

Keywords: agent-based modeling and simulation; agent-based computational economics; power system economics; electricity markets (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (35)

Published in Handbook of Power Systems II, Springer Berlin Heidelberg, pp.241-286, 2010, Energy Systems, 978-3-642-12686-4. ⟨10.1007/978-3-642-12686-4_9⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00871063

DOI: 10.1007/978-3-642-12686-4_9

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