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 transmission...

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...

Many critical goods and services in modern-day economies are produced and distributed through complex institutional arrangements. Agent-based computational economics (ACE) modeling tools are capable of handling this degree of complexity. In concrete support of this claim, this study presents an...