Daniel J. Veit, A. Weidlich, Jian Yao, S. Oren
2006.1.1International Journal of Management Science and Engineering Management
tlooto Summary
The main feature of the Memetic Algorithm is to use a local search combined with a special designed genetic algorithm to focus on the population of local optima to solve the well-known Symmetric Traveling Salesman Problem.
Abstract
Abstract This paper studies the dynamics in two-settlement electricity markets. In these markets, energy producers sign strategic forward contracts in the forward market, and engage in spatial oligopolistic competition in the spot market. We develop an agent-based model for simulating the outcomes of such markets. Numerical simulations imply that the access to the forward market leads to more competitive behaviors of the suppliers in the spot market, and thus to lower spot energy prices.
Citation format
VEIT, Daniel J., et al. Simulating the dynamics in two-settlement electricity markets via an agent-based approach. International Journal of Management Science and Engineering Management, 2006, 1: 83–97.