LONDON METROPOLITAN BUSINESS SCHOOL
Introduction
The ACEGES project
Agent-based Computational Economics of the Global Energy System
INTRODUCTION
The overall aim of this proposal is to develop, test and disseminate an agent-based computational laboratory for the systematic experimental study of the global energy system through the mechanism of Energy Scenarios. In particular, our intention is to show how Agent-based Computational Economics (ACE) can be applied to help leaders in government, business and civil society better understand the challenging outlook for energy through controlled computational experiments.
View interactive graph - Oil and Gas Market evolution: From 18th to the 21st century
The Centre for International Business and Sustainability (CIBS) at London Metropolitan Business School (LMBS) and the Statistics, Operational Research and Mathematics Research Centre (STORM) are embarking on a major modelling exercise to support long-term UK policy analysis such as energy security and climate change. In particular the ACEGES laboratory will address the following questions:
- How will prices affect the ratio of technically recoverable/economically extractable oil and gas reserves?
- At what rate over time can the oil and gas from geographically dispersed nations be supplied to the marketplace?
- How will country-level population, welfare and technological innovation affect primary-energy demand?
- What is the environmental impact of different energy policies?
Outputs
The expected outputs of this work are:
- The ACEGES laboratory, which will be open-source to encourage and stimulate its cumulative development over time. This is consistent with complementary research initiatives in USA such as the 'AMES Wholesale Power Market Test Bed' developed at Iowa State University
- A comprehensive Energy Database to enable the academic and user communities conduct their own analysis
- Articles published in leading journals and conferences to raise academic awareness of the possibilities of modern computational and numerical tools in energy economics and ACEGES in particular
Preliminary results
The ACEGES group have recently completed the first version of the software - ACEGES 1.0. Preliminary results can be explored using the ACEGES demo
Spatial distribution of ACEGES visitors
The figure below shows the % of New Visits of the ACEGES website from March 2011 to June 2011.
Spatial Distribution of ACEGES visitors
For more information, please contact:
Dr. Vlasios Voudouris
Email: v.voudouris@londonmet.ac.uk
Centre for International Business and Sustainability