The denition of emergence remains problematic, particularly for systemswith purposeful human interactions. This study explores the practical importof this concept within a specic market context: namely, a double-auctionmarket for wholesale electric power that operates over a transmission...

Within a span of 20 years, the electric power industry has become the central focus oftwo extraordinary policy trends, each one significant enough to fundamentally reshape theindustry. One of these trends is liberalization, a term that has come to encompass bothprivatization and regulatory...