Analysing the Impact of Rationality on the Italian Electricity Market

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.
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Submitted on : Monday, September 23, 2019 - 8:31:07 PM
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Sara Bevilacqua, Célia da Costa Pereira, Eric Guerci, Frédéric Precioso, Claudio Sartori. Analysing the Impact of Rationality on the Italian Electricity Market. Modeling Decisions for Artificial Intelligence (MDAI 2019), Sep 2019, Milan, Italy. ⟨hal-02294953⟩

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