Abstract
We analyze the behavior of the Italian electricity market with an agent-based model. In particular, we are interested in testing the assumption that the market participants are fully rational in the economical sense. To this aim, we extend a previous model by considering a wider class of cases. After checking that the new model is a correct generalization of the existing model, we compare three optimization methods to implement the agents rationality and we verify that the model exhibits a very good fit to the real data. This leads us to conclude that our model can be used to predict the behavior of this market.
Cite
CITATION STYLE
Bevilacqua, S., da Costa Pereira, C., Guerci, E., Precioso, F., & Sartori, C. (2019). Analysing the Impact of Rationality on the Italian Electricity Market. In Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics) (Vol. 11676 LNAI, pp. 236–247). Springer Verlag. https://doi.org/10.1007/978-3-030-26773-5_21
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