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A CRITICAL STUDY OF AGENT BASED COMPUTATIONAL ECONOMICS AND ITS APPLICATION IN RESEARCH OF ELECTRICITY MARKET THEORY

YUAN Jia-hai1,DING Wei1,HU Zhao-guang2 (1.Business School,North China Electric Power University,Changping District,Beijing 102206,China; 2.State Power Economic Research Center,Xuanwu District,Beijing 100761,China)  
Recently, under the paradigm of Agent-based computational economics (ACE) a new research focus is forming and a large number of associative literatures are springing up, but there is still no the discussion on the ACE’s theoretical value and insufficiency in the research of electricity market in the hierarchy of methodology, therefore the author’s research is an attempt in this aspect. By means of analyzing the evolution of economics methodology from mathematical deduction to simulation induction and their inherent relevance, the unique superiority of ACE on the hierarchy of methodology is expounded. The further selective survey on existing literatures shows that with the ACE model the marketization process of electric power can be known clearly in deeper level and wider scope. Finally, to give a reference to theoretical progress in future the key points to be paid attention to are proposed when the ACE is applied to theoretical research.
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