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An Agent-Based Test Bed Study of Wholesale Power Market Performance Measures
IEEE Computational Intelligence Magazine
  • Abhishek Somani, Iowa State University
  • Leigh Tesfatsion, Iowa State University
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Wholesale power markets operating over transmission grids subject to congestion have distinctive features that complicate the detection of market power and operational inefficiency. This study uses a "wholesale power market test bed "with strategically learning traders to experimentally test the extent to "which market performance measures commonly used for other industries are informative for the dynamic operation of restructured "wholesale power markets. Examined measures include the Herfindahl-Hirschman index (HHI), the Lerner index (LI), the residual supply index (RSI), the relative market advantage index (RMAI), and the operational efficiency index (OEI).

© 2008 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/MCI.2008.929843

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Abhishek Somani and Leigh Tesfatsion. "An Agent-Based Test Bed Study of Wholesale Power Market Performance Measures" IEEE Computational Intelligence Magazine Vol. 3 Iss. 4 (2008) p. 56 - 72
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