Li, Hongyan; Sun, Junjie; Tesfatsion, Leigh S. - Department of Economics, Iowa State University - 2009
This study uses an agent-based test bed ("AMES") to investigate separation and volatility of locational marginal prices (LMPs) in an ISO-managed restructured wholesale power market operating over an AC transmission grid. Particular attention is focused on the dynamic and cross-sectional response...