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Experimental economics for teaching the functioning of electricity markets / Jessica Y. Guevara-Cedeño in IEEE transactions on education, Vol. 55 N° 4 (Novembre 2012) 

Public ISBD [article]  in IEEE transactions on education > Vol. 55 N° 4 (Novembre 2012) . - pp. 466 - 473 Titre : Experimental economics for teaching the functioning of electricity markets Type de document : texte imprimé Auteurs : Jessica Y. Guevara-Cedeño, Auteur ; Rodrigo Palma-Behnke, Auteur ; Rosa Uribe, Auteur Année de publication : 2013 Article en page(s) : pp. 466 - 473 Note générale : Education Langues : Anglais (eng) Mots-clés : Education  Electricity  markets  Experimental  economics  Market  behavior  Simulation  tool  Training Résumé : In the field of electricity markets, the development of training tools for engineers has been extremely useful. A novel experimental economics approach based on a computational Web platform of an electricity market is proposed here for the practical teaching of electrical engineering students. The approach is designed to diminish the gap that exists between theory and practice in this field, through a methodological strategy for teaching/ learning called “simulation.” In the proposed simulation exercise, groups of students operate as market agents and have the freedom to create their own strategies. Additionally, a theoretical model and a specific simulation tool are used for the evaluation of the proposed strategies. The test system is based on the market structure of the Chilean wholesale electricity market and was tested on student groups at two universities. Based on the students' performance, the strategic behavior of agents and their impact on market price evolution are described and analyzed. Student assessment supports the conclusion that the proposed experimental economics framework offers a useful mechanism in student practical work for understanding and explaining the observed phenomena. ISSN : 0018-9359 En ligne : http://ieeexplore.ieee.org/xpl/articleDetails.jsp?arnumber=6172536&sortType%3Das [...] [article] Experimental economics for teaching the functioning of electricity markets [texte imprimé] / Jessica Y. Guevara-Cedeño, Auteur ; Rodrigo Palma-Behnke, Auteur ; Rosa Uribe, Auteur . - 2013 . - pp. 466 - 473. Education Langues : Anglais (eng) in IEEE transactions on education > Vol. 55 N° 4 (Novembre 2012) . - pp. 466 - 473 Mots-clés : Education  Electricity  markets  Experimental  economics  Market  behavior  Simulation  tool  Training Résumé : In the field of electricity markets, the development of training tools for engineers has been extremely useful. A novel experimental economics approach based on a computational Web platform of an electricity market is proposed here for the practical teaching of electrical engineering students. The approach is designed to diminish the gap that exists between theory and practice in this field, through a methodological strategy for teaching/ learning called “simulation.” In the proposed simulation exercise, groups of students operate as market agents and have the freedom to create their own strategies. Additionally, a theoretical model and a specific simulation tool are used for the evaluation of the proposed strategies. The test system is based on the market structure of the Chilean wholesale electricity market and was tested on student groups at two universities. Based on the students' performance, the strategic behavior of agents and their impact on market price evolution are described and analyzed. Student assessment supports the conclusion that the proposed experimental economics framework offers a useful mechanism in student practical work for understanding and explaining the observed phenomena. ISSN : 0018-9359 En ligne : http://ieeexplore.ieee.org/xpl/articleDetails.jsp?arnumber=6172536&sortType%3Das [...]