In this paper we present results from an agent-based simulation model of two sequentially cleared electricity markets. Agents can bid on both a day-ahead market for physical delivery contracts and a day-ahead balancing power market and learn from their achieved results. Different scenarios of...

In this paper, we present a basic approach for modelling electricity and emissions markets under the paradigm of agent-based computational economics (ACE). Different market players will be modelled as independent entities using autonomous software agents; they operate and communicate...

The paper examines what impact different design options of emissions trading have on the innovation process in the electric power industry. Recent concepts of innovation research in evolutionary economics are reviewed and investment cycles in the German power sector are examined before taking a...