A hybrid interactive simulation method for studying emission trading behaviors

Yusheng Xue, Chao Jiang, Jie Huang, Fushuan Wen, Yi Ding, Zhao Xu, K. P. Wong

Research output: Chapter in book / Conference proceedingConference article published in proceeding or bookAcademic researchpeer-review

2 Citations (Scopus)

Abstract

Understanding human participants' trading behaviors is important for market designers. When analyzing the sensitivity of a control variable, it is of crucial importance to keep all other variables fixed, as well as human behaviors. In this paper, a hybrid interactive simulation methodology is introduced and utilized to model emission trading behaviors of generation companies. By extracting information from human-subjected experiments under several scenarios, a stochastic model for multi-agent is constructed and verified. Furthermore, influences of different emission reduction level on emission prices are studied based on multi-agent simulation. Combining the complementary features between experimental and agent-based computational methods, the hybrid interactive simulation can help studying human behaviors involved research problems.
Original languageEnglish
Title of host publication2015 IEEE Power and Energy Society General Meeting, PESGM 2015
PublisherIEEE Computer Society
Volume2015-September
ISBN (Electronic)9781467380409
DOIs
Publication statusPublished - 30 Sep 2015
EventIEEE Power and Energy Society General Meeting, PESGM 2015 - Denver, United States
Duration: 26 Jul 201530 Jul 2015

Conference

ConferenceIEEE Power and Energy Society General Meeting, PESGM 2015
CountryUnited States
CityDenver
Period26/07/1530/07/15

Keywords

  • emission trading
  • experimental economics
  • Hybrid interactive simulation
  • multi-agent simulation

ASJC Scopus subject areas

  • Energy Engineering and Power Technology
  • Nuclear Energy and Engineering
  • Renewable Energy, Sustainability and the Environment
  • Electrical and Electronic Engineering

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