Agent-based analysis of technological diversification and specialization in electricity markets.

Bunn, Derek W.; Oliveira, Fernando S.

Abstract

This paper develops a model-based analysis of technological market structure evolution in electricity markets. This is done through the development of a power plant trading game that, via computational learning, simulates how players coordinate their behaviour in buying and selling power generation assets. In particular, we look at the question of how market performance depends upon the different technological types of plant owned by the generators, and whether, through the strategic adaptation of their power plant portfolios, there is a tendency for the market to evolve into concentrations of specialized or diversified companies.

Citation

BUNN, D.W. and OLIVEIRA, F.S. 2007. Agent-based analysis of technological diversification and specialization in electricity markets. European journal of operational research [online], 181(3), pages 1265-1278. Available from: https://doi.org/10.1016/j.ejor.2005.11.056

• Journal Article Type: Article
• Acceptance Date: Nov 1, 2005
• Online Publication Date: Jan 13, 2011
• Publication Date: Sep 16, 2007
• Deposit Date: Oct 21, 2023
• Publicly Available Date: Nov 15, 2023
• Journal: European journal of operational research
• Print ISSN: 0377-2217
• Electronic ISSN: 1872-6860
• Publisher: Elsevier
• Peer Reviewed: Peer Reviewed
• Volume: 181
• Issue: 3
• Pages: 1265-1278
• DOI: https://doi.org/10.1016/j.ejor.2005.11.056
• Keywords: Agent-based models; Computational learning; Electricity market; Games theory; Market modelling
• Public URL: https://rgu-repository.worktribe.com/output/2114831