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Dynamic Testing of Wholesale Power Market Designs: An Open-Source Agent-Based Framework

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Author Info
Junjie Sun ()
Leigh Tesfatsion ()

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Abstract

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File URL: http://hdl.handle.net/10.1007/s10614-007-9095-1
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Publisher Info
Article provided by Springer in its journal Computational Economics.

Volume (Year): 30 (2007)
Issue (Month): 3 (October)
Pages: 291-327
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:kap:compec:v:30:y:2007:i:3:p:291-327

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Web page: http://www.springerlink.com/link.asp?id=100248

For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).

Related research
Keywords: Wholesale power market restructuring; Empirical input validation; Market design; Behavioral economics; Learning; Market power; Agent-based modeling; AMES wholesale power market framework; Java; RepastJ; L1; D8; L9; C6;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Paul L. Joskow, 2005. "Markets For Power In The United States - An Interim Assessment," Working Papers 0512, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research. [Downloadable!]
    Other versions:
  2. Robert Wilson, 2002. "Architecture of Power Markets," Econometrica, Econometric Society, vol. 70(4), pages 1299-1340, July. [Downloadable!] (restricted)
  3. James Nicolaisen & Valentin Petrov & Leigh Tesfatsion, 2000. "Market Power and Efficiency in a Computational Electricity Market with Discriminatory Double-Auction Pricing," Computational Economics 0004005, EconWPA. [Downloadable!]
    Other versions:
  4. Bower, John & Bunn, Derek, 2001. "Experimental analysis of the efficiency of uniform-price versus discriminatory auctions in the England and Wales electricity market," Journal of Economic Dynamics and Control, Elsevier, vol. 25(3-4), pages 561-592, March. [Downloadable!] (restricted)
  5. Sun, Junjie, 2005. "U.S. Financial Transmission Rights: Theory and Practice," Staff General Research Papers 12266, Iowa State University, Department of Economics. [Downloadable!]
  6. Koesrindartoto, Deddy & Sun, Junjie & Tesfatsion, Leigh S., 2005. "An Agent-Based Computational Laboratory for Testing the Economic Reliability of Wholesale Power Market Designs," Staff General Research Papers 12388, Iowa State University, Department of Economics. [Downloadable!]
    Other versions:
  7. Paul Windrum & Giorgio Fagiolo & Alessio Moneta, 2007. "Empirical Validation of Agent-Based Models: Alternatives and Prospects," Journal of Artificial Societies and Social Simulation, Journal of Artificial Societies and Social Simulation, vol. 10. [Downloadable!]
  8. Leigh Tesfatsion, 2002. "Agent-Based Computational Economics," Computational Economics 0203001, EconWPA, revised 15 Aug 2002. [Downloadable!]
  9. Widergren, Steven & Sun, Junjie & Tesfatsion, Leigh S., 2006. "Market Design Test Environments," Staff General Research Papers 12516, Iowa State University, Department of Economics. [Downloadable!]
  10. Sun, Junjie & Tesfatsion, Leigh S., 2007. "Open-Source Software for Power Industry Research, Teaching, and Training: A DC-OPF Illustration," Staff General Research Papers 12775, Iowa State University, Department of Economics. [Downloadable!]
  11. Axelrod, Robert & Tesfatsion, Leigh S., 2006. "A Guide for Newcomers to Agent-Based Modeling in the Social Sciences," Staff General Research Papers 12515, Iowa State University, Department of Economics. [Downloadable!]
  12. Sun, Junjie & Tesfatsion, Leigh S., 2006. "DC Optimal Power Flow Formulation and Solution Using QuadProgJ," Staff General Research Papers 12558, Iowa State University, Department of Economics. [Downloadable!]
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Widergren, Steven & Sun, Junjie & Tesfatsion, Leigh S., 2006. "Market Design Test Environments," Staff General Research Papers 12516, Iowa State University, Department of Economics. [Downloadable!]
  2. Eric Guerci & Stefano Ivaldi & Silvano Cincotti, 2008. "Learning Agents in an Artificial Power Exchange: Tacit Collusion, Market Power and Efficiency of Two Double-auction Mechanisms," Computational Economics, Springer, vol. 32(1), pages 73-98, September. [Downloadable!] (restricted)
  3. Sun, Junjie & Tesfatsion, Leigh S., 2007. "An Agent-Based Computational Laboratory for Wholesale Power Market Design," Staff General Research Papers 12776, Iowa State University, Department of Economics. [Downloadable!]
  4. Sun, Junjie & Tesfatsion, Leigh S., 2007. "Open-Source Software for Power Industry Research, Teaching, and Training: A DC-OPF Illustration," Staff General Research Papers 12775, Iowa State University, Department of Economics. [Downloadable!]
  5. Yu, Nanpeng & Liu, Chen-Ching & Tesfatsion, Leigh S., 2008. "Modeling of Suppliers Learning Behaviors in an Electricity Market Environment," Staff General Research Papers 12976, Iowa State University, Department of Economics. [Downloadable!]
  6. Giorgio Fagiolo & Andrea Roventini, 2008. "On the Scientific Status of Economic Policy: A Tale of Alternative Paradigms," LEM Papers Series 2008/03, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy. [Downloadable!]
    Other versions:
  7. Li, Hongyan & Sun, Junjie & Tesfatsion, Leigh S., 2009. "Separation and Volatility of Locational Marginal Prices in Restructured Wholesale Power Markets," Staff General Research Papers 13075, Iowa State University, Department of Economics. [Downloadable!]
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This page was last updated on 2009-10-15.

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