The realisation of Fuzzy Cognitive Agents representing electricity market participants

David Borrie; Cuneyt Suheyl Ozveren

The realisation of Fuzzy Cognitive Agents representing electricity market participants

David Borrie, Cuneyt Suheyl Ozveren

Abertay University

Research output: Chapter in Book/Report/Conference proceeding › Conference 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 language	English
Title of host publication	Proceedings ofthe 44th International Universities Power Engineering Conference (UPEC2009)
Place of Publication	Piscataway, NJ
Publisher	IEEE
Pages	1-5
Number of pages	5
ISBN (Electronic)	9780947649449
ISBN (Print)	9781424468232
Publication status	Published - 2009
Event	44th International Universities Power Engineering Conference - Glasgow, United Kingdom Duration: 1 Sep 2009 → 4 Sep 2009 Conference number: 44

Conference

Conference	44th International Universities Power Engineering Conference
Abbreviated title	UPEC 2009
Country	United Kingdom
City	Glasgow
Period	1/09/09 → 4/09/09

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Borrie, D., & Ozveren, C. S. (2009). The realisation of Fuzzy Cognitive Agents representing electricity market participants. In Proceedings ofthe 44th International Universities Power Engineering Conference (UPEC2009) (pp. 1-5). IEEE . http://ieeexplore.ieee.org/document/5429484/?reload=true&arnumber=5429484&contentType=Conference%20Publications

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title = "The realisation of Fuzzy Cognitive Agents representing electricity market participants",

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.",

author = "David Borrie and Ozveren, {Cuneyt Suheyl}",

year = "2009",

language = "English",

isbn = "9781424468232",

pages = "1--5",

booktitle = "Proceedings ofthe 44th International Universities Power Engineering Conference (UPEC2009)",

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note = " 44th International Universities Power Engineering Conference, UPEC 2009 ; Conference date: 01-09-2009 Through 04-09-2009",

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Borrie, D & Ozveren, CS 2009, The realisation of Fuzzy Cognitive Agents representing electricity market participants. in Proceedings ofthe 44th International Universities Power Engineering Conference (UPEC2009). IEEE , Piscataway, NJ, pp. 1-5, 44th International Universities Power Engineering Conference, Glasgow, United Kingdom, 1/09/09. <http://ieeexplore.ieee.org/document/5429484/?reload=true&arnumber=5429484&contentType=Conference%20Publications>

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