A Study of An Electricity Market Mechanism Using Agent-based Gaming

Abstract

Two-sided markets can be found in many industries such as online consumer markets.The markets are economic platforms having two user groups of providers and consumers withnetwork bene ts. The platforms are in the face of erce competition to provide attractive services,prices, supplies. The two-sided markets have been researched using mathematical economics modelsrecent years. The model, however, can only deal with one or two players on a market, thereforeit has limitations to analyse more various players. On the other hand, many research projects ofdynamic pricing and incentive mechanisms have been carried out on power markets. Some of thestudies use agent-based modelling to analyse them as autonomous agents and optimised decisionmaking algorithms. These studies have shown interesting results, but they also have limitationsto analyse further more complex markets and decision making processes of market players takingmanaging conditions into consideration. In this study, we adopt Agent-based gaming to analysethem on a two-sided power market.