Agent-based simulation applied to the study of market power exercise in electrical systems
The high complexity in the design of the markets that govern the Electric Power Systems are subject to price manipulation by the participating agents due to their strategic behavior that is difficult for the authorities to monitor. Market concentration indices are used in practice, however, they onl...
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| Tipo de recurso: | tesis de maestría |
| Estado: | Versión publicada |
| Fecha de publicación: | 2019 |
| País: | Chile |
| OAI Identifier: | oai:repositorio.anid.cl:10533/236596 |
| Acceso en línea: | https://hdl.handle.net/10533/236596 |
| Access Level: | acceso abierto |
| Palabra clave: | Ingeniería y Tecnología Ingeniería Eléctrica, Ingeniería Electrónica, Informática Ingeniería Eléctrica y Electrónica |
| Sumario: | The high complexity in the design of the markets that govern the Electric Power Systems are subject to price manipulation by the participating agents due to their strategic behavior that is difficult for the authorities to monitor. Market concentration indices are used in practice, however, they only account for the potential to exercise strategic behaviour and do not allow detection. This paper proposes an optimization model that allows to represent the complexities of the electric market, with which simulations are made based on agents that represent their strategic decisions under a competitive environment, in this way, it is possible to analyze which are the conditions of the Electric Power System that allow the agents to manipulate the market conditions for their own benefit. The proposed model is a bi-level mathematical program, which can be reformulated as a mixed integer quadratic program (MIQP). |
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