Agent-based simulation of electricity markets: a survey of tools |
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Authors: | Zhi?Zhou Wai?Kin??Chan Joe?H?Chow |
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Affiliation: | (1) Department of Decision Sciences and Engineering Systems, Rensselaer Polytechnic Institute, Troy, NY 12180, USA;(2) Department of Electrical, Computer, and Systems Engineering, Rensselaer Polytechnic Institute, Troy, NY 12180, USA |
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Abstract: | Agent-based simulation has been a popular technique in modeling and analyzing electricity markets in recent years. The main
objective of this paper is to study existing agent-based simulation packages for electricity markets. We first provide an
overview of electricity markets and briefly introduce the agent-based simulation technique. We then investigate several general-purpose
agent-based simulation tools. Next, we review four popular agent-based simulation packages developed for electricity markets
and several agent-based simulation models reported in the literature. We compare all the reviewed packages and models and
identify their common features and design issues. Based on the study, we describe an agent-based simulation framework for
electricity markets to facilitate the development of future models for electricity markets. |
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Keywords: | Agent-based simulation Electricity market Swarm intelligence Artificial life Adaptation |
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