ACE Research Area:
Agent-Based Market Design

Last Updated: 1 January 2019

Site Maintained By:
Leigh Tesfatsion
Research Professor, and
Professor Emerita of Economics, Mathematics,
   and Electrical & Computer Engineering
Heady Hall 260
Iowa State University
Ames, Iowa 50011-1054
tesfatsi AT

Online ACE Course (Self-Study eBook)
ACE WebSite

Table of Contents:

Basic Issues


Software, Toolkits, and Demos

AMES Market Package (Java)

The AMES Market Package, developed entirely in Java by an interdisciplinary team of researchers at Iowa State University, is an extensible and modular agent-based test bed for studying the performance of wholesale power markets restructured in accordance with a market design recommended in April 2003 by the U.S. Federal Energy Regulatory Commission and now implemented in over 50% of the U.S. The framework models strategic traders interacting over time in an ISO-managed wholesale power market operating over a transmission grid subject to congestion effects. The day-ahead wholesale power market is a double auction. Grid congestion in the day-ahead market is managed by means of locational marginal prices derived from optimal power flow solutions.

The AMES Market Package is a free open-source tool suitable for research, teaching, and training applications. It is designed for the intensive experimental study of small to medium-sized systems. A graphical user interface permits the creation, modification, analysis and storage of scenarios, parameter initialization and editing, specification of behavioral rules (e.g. learning methods) for market participants, and output reports through table and chart displays. AMES is an acronym for Agent-based Modeling of Electricity Systems.

Jasa: Auction Simulator (Java)

JASA is a high-performance auction simulator that allows researchers in agent-based computational economics to run trading simulations using a number of different auction mechanisms. The software is designed to be highly extensible, so that new auction rules can easily be implemented. The software also provides base classes for implementing simple adaptive trading agents. It was developed for research carried out at the Agent Applications,Research and Technology group of Liverpool University.

Annotated list of pointers to ACE/CAS General Software and Toolkits

Annotated list of pointers to ACE/CAS Computational Laboratories and Demonstration Software

Resource Sites, Groups, and Some Early Individual Researchers

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