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Article
An Agent-Based Computational Laboratory for Wholesale Power Market Design
Proceedings of the IEEE Power and Energy Society General Meeting
  • Junjie Sun, Iowa State University
  • Leigh Tesfatsion, Iowa State University
Document Type
Conference Proceeding
Conference
2007 IEEE Power Engineering Society General Meeting
Publication Version
Submitted Manuscript
Link to Published Version
http://dx.doi.org/10.1109/PES.2007.385709
Publication Date
1-1-2007
DOI
10.1109/PES.2007.385709
Conference Title
2007 IEEE Power Engineering Society General Meeting
Conference Date
June 24-28, 2007
Geolocation
(27.950575, -82.45717760000002)
Abstract
This study reports on the model development and open-source implementation (in Java) of an agent-based computational wholesale power market organized in accordance with core FERC-recommended design features and operating over a realistically rendered transmission grid. The traders within this market model are strategic profit-seeking agents whose learning behaviors are based on data from human-subject experiments. Our key experimental focus is the complex interplay among structural conditions, market protocols, and learning behaviors in relation to short-term and longer-term market performance. Findings for a dynamic 5-node transmission grid test case are presented for concrete illustration.
Comments

© 2007 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works. DOI: 10.1109/PES.2007.385709

Copyright Owner
IEEE
Language
en
File Format
application/pdf
Citation Information
Junjie Sun and Leigh Tesfatsion. "An Agent-Based Computational Laboratory for Wholesale Power Market Design" Tampa, FLProceedings of the IEEE Power and Energy Society General Meeting (2007)
Available at: http://works.bepress.com/leigh-tesfatsion/39/