The ACEWEM framework: An integrated agent-based and statistical modelling laboratory for repeated power auctions

作者：

Highlights：

• An agent-based model for power auction is proposed.

• A new stochastic decision algorithm is designed.

• We study the emergence of market power.

• Unexpected supply or demand shocks lead to emergence of strategic offers.

• Re-dispatch scheme results in higher market prices compared with the LMP scheme.

摘要

•An agent-based model for power auction is proposed.•A new stochastic decision algorithm is designed.•We study the emergence of market power.•Unexpected supply or demand shocks lead to emergence of strategic offers.•Re-dispatch scheme results in higher market prices compared with the LMP scheme.

论文关键词：ACEWEM,Agent-based modelling,Stochastic learning,Wholesale power markets

论文评审过程：Available online 20 November 2014.

论文官网地址：https://doi.org/10.1016/j.eswa.2014.11.024