Abstract Economies are complicated systems encompassing micro behaviors, interaction
patterns, and global regularities. Whether partial or general in scope, studies of economic …

The complexity of electricity markets calls for rich and flexible modeling techniques that help
to understand market dynamics and to derive advice for the design of appropriate regulatory …

The issues of climate policy and security of supply are the main driving factors in the current
debate on the electricity sector in Germany and throughout Europe. An important aspect of …

Macroeconomics is evolving in an almost dialectic fashion. The latest evolution is the
development of a new synthesis that combines insights of new classical, new Keynesian …

This paper sheds light on a promising and very active research area for electricity market
modeling, that is, agent-based computational economics. The intriguing perspective of such …

In April 2003 the US Federal Energy Regulatory Commission proposed the wholesale
power market platform (WPMP) for adoption by all US wholesale power markets. The WPMP …

This chapter explores the state of the emerging practice of designing markets by the use of
agent-based modeling, with special reference to electricity markets and computerized (on …

Due to the characteristics of electricity, power markets rank among the most complex
markets operated at present. The requirements of an environmentally sustainable …

In the agent-based simulation discussed in this paper, we study the dynamics of the power
market, when suppliers act following a Q-learning based bidding strategy. Power suppliers …

To control and price negative externalities in passenger road transport, we develop an
innovative and integrated computational agent-based economics (ACE) model to simulate a …