Title :
Extending equilibrium markets
Author :
Carlsson, Per ; Ygge, Fredrik ; Andersson, Arne
Author_Institution :
Uppsala Univ., Sweden
Abstract :
Confast (CONvex hull with Final AdjuSTment), which is a mechanism for equilibrium markets, handles large markets with distributed information and discontinuous supply and demand. Energy markets present a particularly appropriate application for this new mechanism, which can handle production and consumption and is suitable for fast-moving electronic markets.
Keywords :
combinatorial mathematics; economic cybernetics; electricity supply industry; electronic commerce; Confast; consumption; convex hulls; discontinuous supply and demand; distributed information; electronic business; energy markets; equilibrium markets; fast-moving electronic markets; final adjustment; market mechanism; production; Bandwidth; Computer networks; Costs; Power control; Power generation; Power generation economics; Power markets; Production; Supply and demand; Transportation;
Journal_Title :
Intelligent Systems, IEEE
DOI :
10.1109/5254.941354
