Competitive relations in imperfect commodity markets

Competitive relations in imperfect commodity markets

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Article ID: iaor200480
Country: Netherlands
Volume: 64
Issue: 7
Start Page Number: 1101
End Page Number: 1114
Publication Date: Jul 2003
Journal: Automation and Remote Control
Authors: , , ,
Keywords: energy
Abstract:

Studies are made of the organization and results of multi-agent simulation modeling of a local competitive market of electric energy and power-generatng coal. Market agents carry out mutual deliveries, make decisions on their own about the share of sales and price discounts for the local market and also perform sales and purchases in an external (global) market at appropriate prices of the sales and purchases that do not depend on the behavior of local market agents. The most compliant agents receive the priority of the access to cheaper resources. It is shown that on fulfilling sufficiently soft conditions of the ‘valid competition’, all local market agents can receive an appreciable increment of the profitability. Small and low-profitable enterprises obtain the highest relative gains of the profitability.

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