Simulating cost based bidding models in genersys

Ly Fie Sugianto, George Grozev, Zhigang Liao, Melissa James, John Page

Research output: Chapter in Book/Report/Conference proceedingConference PaperResearchpeer-review

1 Citation (Scopus)

Abstract

This paper demonstrates the usefulness of an agent based model in studying the dynamics and economic performance of a competitive electricity market. An auction based market exhibits the characteristics of a complex adaptive system. An agent based model has been designed and implemented to mimic the operation of an electricity market. By running different simulation scenarios, we discover computational emergence on price and emission when generators employ different bidding models.

Original languageEnglish
Title of host publication6th International Conference on Soft Computing and Intelligent Systems, and 13th International Symposium on Advanced Intelligence Systems, SCIS/ISIS 2012
Pages1481-1486
Number of pages6
DOIs
Publication statusPublished - 1 Dec 2012
Event2012 Joint 6th International Conference on Soft Computing and Intelligent Systems, SCIS 2012 and 13th International Symposium on Advanced Intelligence Systems, ISIS 2012 - Kobe, Japan
Duration: 20 Nov 201224 Nov 2012

Publication series

Name6th International Conference on Soft Computing and Intelligent Systems, and 13th International Symposium on Advanced Intelligence Systems, SCIS/ISIS 2012

Conference

Conference2012 Joint 6th International Conference on Soft Computing and Intelligent Systems, SCIS 2012 and 13th International Symposium on Advanced Intelligence Systems, ISIS 2012
CountryJapan
CityKobe
Period20/11/1224/11/12

Keywords

  • Agent based model
  • complex adaptive systems
  • computational emergence
  • electricity market

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