The realisation of Fuzzy Cognitive Agents representing electricity market participants

David Borrie, Cuneyt Suheyl Ozveren

    Research output: Chapter in Book/Report/Conference proceedingConference contribution

    Abstract

    Worldwide trading markets are becoming increasingly complex and competitive making it increasingly difficult for participants to optimise their trading actions. Electrical trading markets are no exception to this phenomenon and are faced with the additional and combined uncertainties associated with need to continuously balance supply and demand and trading decisions actions which are moving ever closer to real time. In response, many differing computer market simulation techniques have been investigated to develop either a deeper understanding of these evolving markets or to create effective system support tools. In this paper we present a novel new approach within which Simulink1 - a graphical block diagramming tool and a customizable set of block libraries was used to model fuzzy cognitive maps encoding individual market trading participants, then encapsulated within AI-Agent type architecture. These fuzzy cognitive maps dynamically interact with each other by the communication protocols of the AI-Agent. This new paradigm is termed a Fuzzy Cognitive Agent, and multiple agents of this type a Fuzzy Cognitive Agency.
    Original languageEnglish
    Title of host publicationProceedings ofthe 44th International Universities Power Engineering Conference (UPEC2009)
    Place of PublicationPiscataway, NJ
    PublisherIEEE
    Pages1-5
    Number of pages5
    ISBN (Electronic)9780947649449
    ISBN (Print)9781424468232
    Publication statusPublished - 2009
    Event 44th International Universities Power Engineering Conference - Glasgow, United Kingdom
    Duration: 1 Sep 20094 Sep 2009
    Conference number: 44

    Conference

    Conference 44th International Universities Power Engineering Conference
    Abbreviated titleUPEC 2009
    Country/TerritoryUnited Kingdom
    CityGlasgow
    Period1/09/094/09/09

    Keywords

    • BETTA
    • Power markets
    • Simulation
    • Fuzzy Cognitive Agent

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