Abstract
Contemporary information systems provide extended capabilities to support both system and market operations and favour the emergence of dynamic marketplaces to complement traditional market organisations. An integrated market-based approach considers the coexistence of different market types and their interaction. We discuss ResMAS, a conceptual model for resource-based integrated markets where the entities are modelled as a Multi-Agent System (MAS). In this paper we exemplify the application of ResMAS in a plausible scenario: electricity markets. The main contributions of the ResMAS model comprise the capability to model complex agent decisions, the possibility to analyse the interaction among markets, and the possibility to create new regulation mechanisms to achieve the expected outcomes.
Keywords
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Bojei, J., Julian, C.C., Wel, C.A.B.C., Ahmed, Z.U.: The empirical link between relationship marketing tools and consumer retention in retail marketing. J. Consum. Behav. 12(3), 171–181 (2013)
Einav, L., Farronato, C., Levin, J.: Peer-to-peer markets. Annu. Rev. Econ. 8, 615–635 (2016)
Gottwalt, S., Ketter, W., Block, C., Collins, J., Weinhardt, C.: Demand side management – a simulation of household behavior under variable prices. Energy Policy 39(12), 8163–8174 (2011)
Heinrichs, H.: Sharing economy: a potential new pathway to sustainability. Gaia 22(4), 228 (2013)
Kahlen, M., Ketter, W.: Aggregating electric cars to sustainable virtual power plants: the value of flexibility in future electricity markets. In: AAAI, pp. 665–671 (2015)
Niu, H., Baldick, R., Zhu, G.: Supply function equilibrium bidding strategies with fixed forward contracts. IEEE Trans. Power Syst. 20(4), 1859–1867 (2005)
Rajkumar, R.R., Lee, I., Sha, L., Stankovic, J.: Cyber-physical systems: the next computing revolution. In: Proceedings of the 47th Design Automation Conference, pp. 731–736. ACM (2010)
Ramos, C., Liu, C.C.: AI in power systems and energy markets. IEEE Intell. Syst. 26(2), 5–8 (2011)
Tesfatsion, L.: Auction basics for wholesale power markets: objectives and pricing rules. In: IEEE Power and Energy Society General Meeting, PES 2009, pp. 1–8. IEEE (2009)
You, S., Træholt, C., Poulsen, B.: A market-based virtual power plant. In: 2009 International Conference on Clean Electrical Power, pp. 460–465. IEEE (2009)
Acknowledgements
This work is partially funded through IBRASIL, a Full Doctorate programme under Erasmus Mundus, Action 2 – STRAND 1, Lot 16, and FCT, the Portuguese Agency for R&D, under PhD Scholarship grant SFRH/BD/67202/2009.
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2017 Springer International Publishing AG
About this paper
Cite this paper
Rúbio, T.R.P.M., Kokkinogenis, Z., Cardoso, H.L., Oliveira, E., Rossetti, R.J.F. (2017). ResMAS - A Conceptual MAS Model for Resource-Based Integrated Markets. In: Bajo, J., et al. Highlights of Practical Applications of Cyber-Physical Multi-Agent Systems. PAAMS 2017. Communications in Computer and Information Science, vol 722. Springer, Cham. https://doi.org/10.1007/978-3-319-60285-1_10
Download citation
DOI: https://doi.org/10.1007/978-3-319-60285-1_10
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-319-60284-4
Online ISBN: 978-3-319-60285-1
eBook Packages: Computer ScienceComputer Science (R0)