Electric power systems consist of large numbers of heterogeneous participants interacting within an intricate layered network of economic and operational relationships. Decision-making in these systems has been extensively decentralized in many industrialized countries over the past twenty years...

Economies are complicated systems encompassing micro behaviors, interaction patterns, and global regularities. Whether partial or general in scope, studies of economic systems must consider how to handle difficult real-world aspects such as asymmetric information, imperfect competition,...