Ricardo A. Smith

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The restructuring of several Latin American Electric Sectors raises the necessity of developing analysis tools focused on the understanding of the new electric energy trading structure. In this work two Microworlds were developed for the two main market schemes in actual use in Latin America: dispatch by prices and by cost. The main tool used in the(More)
The Colombian electricity sector was restructured in 1994. Under the new legal framework, investment decisions for building new capacity need to incorporate elements of risk and uncertainty. In these circumstances it results advantageous for agents to learn about market risks for assessing the implications of their decisions. Microworlds or simulators, as(More)
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