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 end, we suppose that while constructing its strategy the agent takes into account all the possible strategies the other (competitors) agents might adopt in the future, not only their last strategies, as it is done in the literature. This motivates us to propose a co-evolutionary approach to strategy optimization, which better reflects the way actual decision makers behave in reality. The experiments carried out corroborate our hypothesis and show an improvement in the results compared to the literature.

A Co-evolutionary Approach to Analyzing the Impact of Rationality on the Italian Electricity Market

Claudio Sartori
Membro del Collaboration Group
2019

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 end, we suppose that while constructing its strategy the agent takes into account all the possible strategies the other (competitors) agents might adopt in the future, not only their last strategies, as it is done in the literature. This motivates us to propose a co-evolutionary approach to strategy optimization, which better reflects the way actual decision makers behave in reality. The experiments carried out corroborate our hypothesis and show an improvement in the results compared to the literature.
PRIMA 2019: Principles and Practice of Multi-Agent Systems - 22nd International Conference, Turin, Italy, October 28-31, 2019, Proceedings
235
250
Celia da Costa Pereira, Sara Bevilacqua, Eric Guerci, Frederic Precioso, Claudio Sartori
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11585/728355
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