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Engineering Interrelated Electricity Markets : An Agent-Based Computational Approach /

By: Weidlich, Anke [author.].
Contributor(s): SpringerLink (Online service).
Material type: materialTypeLabelBookSeries: Contributions to Management Science: Publisher: Heidelberg : Physica-Verlag HD, 2008.Description: XXII, 174 p. 68 illus. online resource.Content type: text Media type: computer Carrier type: online resourceISBN: 9783790820683.Subject(s): Energy | Energy policy | Energy and state | Energy systems | Management | Industrial management | Operations research | Decision making | Energy industries | Energy | Energy Systems | Energy Economics | Operation Research/Decision Theory | Innovation/Technology Management | Energy Policy, Economics and ManagementDDC classification: 621.042 Online resources: Click here to access online
Contents:
Motivation and Fundamentals -- Wholesale Electricity and Emissions Trading -- Agent-Based Computational Economics -- An Agent-Based Simulation Model for Interrelated Electricity Markets -- Representation of Learning and Adaptation -- The Electricity Sector Simulation Model -- Application, Evaluation and Discussion -- Simulation Scenarios and Results -- Conclusion and Outlook.
In: Springer eBooksSummary: Due to the characteristics of electricity, power markets rank among the most complex markets operated at present. The requirements of an environmentally sustainable, economically efficient, and secure energy supply have resulted in the emergence of several interrelated markets that have to be carefully engineered in order to ensure efficient market outcomes. This book presents an agent-based simulation model that facilitates electricity market research. Simulation outcomes from this model are validated against price data from German power markets. The results significantly contribute to existing research in agent-based simulation and electricity market modeling, and provide insights into the impact of the market structure and market design on electricity prices. The book addresses researchers, lecturers and students who are interested in applying agent-based simulation to power markets. It provides a thorough discussion of the methodology and helpful details for model implementation.
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E books E books PK Kelkar Library, IIT Kanpur
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Motivation and Fundamentals -- Wholesale Electricity and Emissions Trading -- Agent-Based Computational Economics -- An Agent-Based Simulation Model for Interrelated Electricity Markets -- Representation of Learning and Adaptation -- The Electricity Sector Simulation Model -- Application, Evaluation and Discussion -- Simulation Scenarios and Results -- Conclusion and Outlook.

Due to the characteristics of electricity, power markets rank among the most complex markets operated at present. The requirements of an environmentally sustainable, economically efficient, and secure energy supply have resulted in the emergence of several interrelated markets that have to be carefully engineered in order to ensure efficient market outcomes. This book presents an agent-based simulation model that facilitates electricity market research. Simulation outcomes from this model are validated against price data from German power markets. The results significantly contribute to existing research in agent-based simulation and electricity market modeling, and provide insights into the impact of the market structure and market design on electricity prices. The book addresses researchers, lecturers and students who are interested in applying agent-based simulation to power markets. It provides a thorough discussion of the methodology and helpful details for model implementation.

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