Simple Market Scenarios- Price Takers

 

In this section, we discuss two simple scenarios implemented in UMDL and the design process and mechanisms used. The scenarios use the same agents and services as shown in Figure 1.

However, in this section, we make the assumption that the agents have been designed within UMDL to fulfill certain system-level objectives. In particular, the QPAs have been designed to behave competitively. Competitive agents take prices as given- ignoring any market power they might possess, thereby eliminating the need to reason strategically about other agents' bidding behavior and simplifying the QPA design.




Jose M. Vidal
jmvidal@umich.edu
Tue Sep 30 14:35:40 EDT 1997