Suchergebnisse

"Growing reliance on variable energy resources and greater encouragement of demand-side participation have led to greater volatility and uncertainty in real-time net load (i.e., electric power usage net of non-dispatchable generation). This, in turn, has led to a greater need for the flexible provision of reserve (dispatchable power paths) to ensure net load can be balanced in real-time operations, an essential requirement for reliable transmission grid operations. This greater need for flexible reserve provision has been difficult for current wholesale electric power markets to meet, given the rigidities and conceptual problems inherent in their design."--

Agent-based computational economics (ACE) is the computational study of economic processes modeled as dynamic systems of interacting agents. Here agentrefers broadly to a bundle of data and behavioral methods representing an entity constituting part of a computationally constructed world. Examples of possible agents include individuals (e.g. consumers, producers), social groupings (e.g. families, firms, communities, government agencies), institutions (e.g. markets, regulatory systems), biological entities (e.g. crops, livestock, forests), and physical entities (e.g. infrastructure, weather, and geographical regions). Thus, agents can range from active data-gathering decision makers with sophisticated embodied cognitive capabilities to passive world features with no cognitive function.

The explosive growth in computational power over the past several decades offers new tools and opportunities for economists. This handbook volume surveys recent research on Agent-based Computational Economics (ACE), the computational study of economic processes modeled as dynamic systems of interacting agents. Empirical referents for "agents" in ACE models can range from individuals or social groups with learning capabilities to physical world features with no cognitive function. Topics covered include: learning; empirical validation; network economics; social dynamics; financial markets; innovation and technological change; organizations; market design; automated markets and trading agents; political economy; social-ecological systems; computational laboratory development; and general methodological issues. *Every volume contains contributions from leading researchers *Each Handbook presents an accurate, self-contained survey of a particular topic *The series provides comprehensive and accessible surveys