Multi-Agent Economically Motivated Decision-Making

Abstract

The key motivation for this chapter is the perception that within the near future, markets will be composed of individuals that may simultaneously undertake the roles of consumers, producers and traders. Those individuals are economically motivated “prosumer” (producer-consumer) agents that not only consume, but can also produce, store and trade assets. This chapter describes the most relevant aspects of a simulation tool that provides (human and virtual) prosumer agents an interactive and real-time game-like environment where they can explore (long-term and short-term) strategic behaviour and experience the effects of social influence in their decision-making processes. The game-like environment is focused on the simulation of electricity markets, it is named ITEM-game (“Investment and Trading in Electricity Markets”), and it is publically available (ITEM-Game, 2013) for any player to explore the role of a prosumer agent.