Engineering Interrelated Electricity Markets An Agent-Based Computat

Due to the characteristics of electricity, power markets rank among the most complex markets operated at present. The requirements of an environmentally sustainable, economically efficient, and secure energy supply have resulted in the emergence of severa

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Anke Weidlich

Engineering Interrelated Electricity Markets An Agent-Based Computational Approach

Physica-Verlag A Springer Company

Dr. Anke Weidlich University of Mannheim Dieter Schwarz Chair of Business Administration and Information Systems Schloss 68131 Mannheim Germany [email protected]

ISBN: 978-3-7908-2067-6

e-ISBN: 978-3-7908-2068-3

DOI: 10.1007/978-3-7908-2068-3 Library of Congress Control Number: 2008934063 © 2008 Physica-Verlag Heidelberg This work is subject to copyright. All rights are reserved, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilm or in any other way, and storage in data banks. Duplication of this publication or parts thereof is permitted only under the provisions of the German Copyright Law of September 9, 1965, in its current version, and permission for use must always be obtained from Springer. Violations are liable to prosecution under the German Copyright Law. The use of general descriptive names, registered names, trademarks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. Cover design: WMXDesign GmbH, Heidelberg Printed on acid-free paper 9 8 7 6 5 4 3 2 1 springer.com

Preface

This book is a result of my work as a research assistant in the Information & Market Engineering group within the Institute of Information Systems and Management at the University of Karlsruhe, and later at the Dieter Schwarz Chair of Business Administration and Information Systems, University of Mannheim. Many ideas contained in it were generated within the PowerACE project, which was carried out in cooperation with the Institute for Industrial Production and the Fraunhofer Institute for Systems and Innovation Research, both in Karlsruhe. Many people made the completion of my dissertation possible and should be acknowledged here. First, I am greatly indebted to Prof. Dr. Christof Weinhardt who gave me the opportunity to take part in his dynamic research team and supported me all the way through my dissertation. Next, I thank Prof. Dr. Daniel Veit for his continuing encouragement, guidance and strong support during our joint work. He gave me tremendous opportunities; interacting with him at his new chair was both instructive and pleasurable. For her inspiration as well as for her great hospitality, my appreciation also goes to Prof. Dr. Leigh Tesfatsion from the Economics Department at Iowa State University, who enriched my understanding of AgentBased Computational Economics and whose great dedication to science impressed me strongly. A final thanks goes to my colleagues in both Karlsruhe and Mannheim, who created the constructive and comfortable atmosphere that I so enjoyed, and whose critique and assistance contributed much to my work. Among my colleagues and friends, I would especially like to thank Dr. Cleme