Similar Search Results

Capacity Withholding in Restructured Wholesale Power Markets: An Agent-Based Test Bed Study

Li, Hongyan; Tesfatsion, Leigh S. - Department of Economics, Iowa State University - 2009

This study uses a dynamic 5-bus test case implemented via the AMES Wholesale Power Market Test Bed to investigate strategic capacity withholding by generation companies (GenCos) in restructured wholesale power markets under systematically varied demand conditions. The strategic behaviors of the...

Persistent link: https://www.econbiz.de/10004969756

Locational Marginal Pricing Basics for Restructured Wholesale Power Markets

Liu, Haifeng; Tesfatsion, Leigh S.; Chowdhury, A.A. - Department of Economics, Iowa State University - 2009

In this tutorial paper, different AC and DC optimal power flow (OPF) models are presented to help understand the derivation of Locational Marginal Prices (LMPs) in restructured wholesale power markets. As a byproduct of this analysis, the paper provides a rigorous explanation of the basic LMP...

Persistent link: https://www.econbiz.de/10004969757

Enforcement of Vintage Differentiated Regulations: The Case of New Source Review

Bushnell, James; Wolfram, Catherine - Department of Economics, Iowa State University - 2010

This paper analyzes the effects of the New Source Review (NSR) environmentalregulations on coal-fired electric power plants. Regulations that grew out of the Clean Air Act of 1970 required new electric generating plants to install costly pollution control equipment but exempted existing...

Persistent link: https://www.econbiz.de/10008500471

Co-Learning Patterns As Emergent Market Phenomena: An Electricity Market Illustration

Li, Hongyan; Tesfatsion, Leigh - Department of Economics, Iowa State University - 2010

The definition of emergence remains problematic, particularly for systems with purposeful human interactions. This study explores the practical import of this concept within a specific market context: namely, a double-auction market for wholesale electric power that operates over a...

Persistent link: https://www.econbiz.de/10008773597

Auction Basics for Wholesale Power Markets: Objectives and Pricing Rules

Tesfatsion, Leigh - Department of Economics, Iowa State University - 2009

Power systems have distinctive features that greatly complicate the development of auction designs. This study reviews the theory and practice of auction design as it relates specifically to U.S. restructured wholesale power markets, i.e., centrally-administered wholesale power markets with...

Persistent link: https://www.econbiz.de/10004969755

Concentration, Capacity, and Market Power in an Evolutionary Labor Market

Tesfatsion, Leigh - Department of Economics, Iowa State University - 2000

Abstract not available

Persistent link: https://www.econbiz.de/10008500475

An Agent-Based Computational Laboratory for Testing the Economic Reliability of Wholesale Power Market Designs

Koesrindartoto, Deddy P.; Sun, Junjie; Tesfatsion, Leigh - Department of Economics, Iowa State University - 2005

In April 2003 the U.S. Federal Energy Regulatory Commission (FERC) proposed the Wholesale Power Market Platform (WPMP) for common adoption by U.S. wholesale power markets. The WPMP is a complicated market design that has been adopted in some regions of the U.S. but resisted in others on the...

Persistent link: https://www.econbiz.de/10004979911

Structure, Behavior, and Market Power in an Evolutionary Labor Market with Adaptive Search

Tesfatsion, Leigh S. - Department of Economics, Iowa State University - 2009

This study uses an agent-based computational labor market framework to experimentally study the relationship between job capacity, job concentration, and market power. Job capacity is measured by the ratio of potential job openings to potential work orders, and job concentration is measured by...

Persistent link: https://www.econbiz.de/10004979915

Market Power and Efficiency in a Computational Electricity Market with Discriminatory Double-Auction Pricing

Nicolaisen, James; Petrov, Valentin; Tesfatsion, Leigh S. - Department of Economics, Iowa State University - 2000

This study reports experimental market power and efficiency outcomes for a computational wholesale electricity market … operating in the short run under systematically varied concentration and capacity conditions. The pricing of electricity is … compared against results from an earlier electricity study in which buyers and sellers instead engage in social mimicry …

Persistent link: https://www.econbiz.de/10004979918

Dynamic LMP Response Under Alternative Price-Cap and Price-Sensitive Demand Scenarios

Li, Hongyan; Sun, Junjie; Tesfatsion, Leigh S. - Department of Economics, Iowa State University - 2008

This study investigates the complicated nonlinear effects of demand-bid price sensitivity and supply-offer price caps on Locational Marginal Prices (LMPs) for bulk electric power when profit-seeking generators can learn over time how to strategize their supply offers. Systematic computational...

Persistent link: https://www.econbiz.de/10004979923