Engineering Interrelated Electricity Markets An Agent-Based Computational Approach

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 carefu...

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Bibliographic Details
Main Author: Weidlich, Anke
Format: eBook
Language:English
Published: Heidelberg Physica 2008, 2008
Edition:1st ed. 2008
Series:Contributions to Management Science
Subjects:
Online Access:
Collection: Springer eBooks 2005- - Collection details see MPG.ReNa
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100 1 |a Weidlich, Anke 
245 0 0 |a Engineering Interrelated Electricity Markets  |h Elektronische Ressource  |b An Agent-Based Computational Approach  |c by Anke Weidlich 
250 |a 1st ed. 2008 
260 |a Heidelberg  |b Physica  |c 2008, 2008 
300 |a XXII, 174 p. 68 illus  |b online resource 
505 0 |a 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 
653 |a Mechanical Power Engineering 
653 |a Electric power production 
653 |a Operations research 
653 |a Technological innovations 
653 |a Innovation and Technology Management 
653 |a Electrical Power Engineering 
653 |a Energy policy 
653 |a Operations Research and Decision Theory 
653 |a Energy Policy, Economics and Management 
653 |a Energy and state 
041 0 7 |a eng  |2 ISO 639-2 
989 |b Springer  |a Springer eBooks 2005- 
490 0 |a Contributions to Management Science 
028 5 0 |a 10.1007/978-3-7908-2068-3 
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520 |a 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