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

doi:10.1109/PESGM.2015.7285761

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 proceeding › Conference article published in proceeding or book › Academic research › peer-review

4 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 language	English
Title of host publication	2015 IEEE Power and Energy Society General Meeting, PESGM 2015
Publisher	IEEE Computer Society
Volume	2015-September
ISBN (Electronic)	9781467380409
DOIs	https://doi.org/10.1109/PESGM.2015.7285761
Publication status	Published - 30 Sept 2015
Event	IEEE Power and Energy Society General Meeting, PESGM 2015 - Denver, United States Duration: 26 Jul 2015 → 30 Jul 2015

Conference

Conference	IEEE Power and Energy Society General Meeting, PESGM 2015
Country/Territory	United States
City	Denver
Period	26/07/15 → 30/07/15

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

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

More information

10.1109/PESGM.2015.7285761

Cite this

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title = "A hybrid interactive simulation method for studying emission trading behaviors",

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.",

keywords = "emission trading, experimental economics, Hybrid interactive simulation, multi-agent simulation",

author = "Yusheng Xue and Chao Jiang and Jie Huang and Fushuan Wen and Yi Ding and Zhao Xu and Wong, {K. P.}",

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booktitle = "2015 IEEE Power and Energy Society General Meeting, PESGM 2015",

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Xue, Y, Jiang, C, Huang, J, Wen, F, Ding, Y, Xu, Z & Wong, KP 2015, A hybrid interactive simulation method for studying emission trading behaviors. in 2015 IEEE Power and Energy Society General Meeting, PESGM 2015. vol. 2015-September, 7285761, IEEE Computer Society, IEEE Power and Energy Society General Meeting, PESGM 2015, Denver, United States, 26/07/15. https://doi.org/10.1109/PESGM.2015.7285761

A hybrid interactive simulation method for studying emission trading behaviors. / Xue, Yusheng; Jiang, Chao; Huang, Jie et al.

2015 IEEE Power and Energy Society General Meeting, PESGM 2015. Vol. 2015-September IEEE Computer Society, 2015. 7285761.

Research output: Chapter in book / Conference proceeding › Conference article published in proceeding or book › Academic research › peer-review

TY - GEN

T1 - A hybrid interactive simulation method for studying emission trading behaviors

AU - Xue, Yusheng

AU - Jiang, Chao

AU - Huang, Jie

AU - Wen, Fushuan

AU - Ding, Yi

AU - Xu, Zhao

AU - Wong, K. P.

PY - 2015/9/30

Y1 - 2015/9/30

N2 - 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.

AB - 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.

KW - emission trading

KW - experimental economics

KW - Hybrid interactive simulation

KW - multi-agent simulation

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U2 - 10.1109/PESGM.2015.7285761

DO - 10.1109/PESGM.2015.7285761

M3 - Conference article published in proceeding or book

VL - 2015-September

BT - 2015 IEEE Power and Energy Society General Meeting, PESGM 2015

PB - IEEE Computer Society

T2 - IEEE Power and Energy Society General Meeting, PESGM 2015

Y2 - 26 July 2015 through 30 July 2015

ER -

A hybrid interactive simulation method for studying emission trading behaviors

Abstract

Conference

Keywords

ASJC Scopus subject areas

UN SDGs

More information

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