Re: SwarmFest Abstract

[Marcus G. Daniels]

Hey, here's another entry on the SwarmFest program page, courtesy of
Michael North at Argonne National labs.  See the program page for more info:

  http://www.swarm.org/community-swarmfest-program.html

Agent-Based Modeling of Electricity Markets

"It's not a pretty picture. The fear has been that people have put
on rose-colored glasses." Should the forecast [electric power] shortages
materialize, "we would cut off firm load and it would affect thousands of
people," Lisa Szot, a spokesperson for California's independent electric
power system operator, quoted in the Oil and Gas Journal Online, February 8,
2001.

Complex Adaptive Systems (CAS) Agent-Based Models (ABM) can be applied
to investigate multifaceted systems such as electricity markets. As
demonstrated recently in California, these markets may fail to meet
consumer expectations. CAS ABMs are being developed by Argonne
National Laboratory to help provide insights into the types of
problems being faced by places such as California. Recent progress in
the development of these ABMs will be discussed.


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