Daniil Kiose

Current macro-econometric models mostly incorporate just two factors of production, labour and capital (with a time-dependent multiplier representing technological change or total factor productivity). These models assume that energy is an intermediate product of some combination of human labour and capital. These models also assume that the supply of energy is driven by economic demand. We assume the contrary, i.e. that useful energy is a primary input, derived (mostly) from natural capital… Show more

Current macro-econometric models mostly incorporate just two factors of production, labour and capital (with a time-dependent multiplier representing technological change or total factor productivity). These models assume that energy is an intermediate product of some combination of human labour and capital. These models also assume that the supply of energy is driven by economic demand. We assume the contrary, i.e. that useful energy is a primary input, derived (mostly) from natural capital. This failure to capture the impact of primary resources (as useful energy) on economic growth leads to inappropriate formulation of economic growth theories. To understand that impact better we need explicit evidence of marginal products of capital, labour and useful energy or useful work. As applied to the explanation of the past half century of economic growth of the EU-15 countries, the new results demonstrate the use of non-parametric relationships between capital, labour and useful energy to explain economic growth. They also indicate that marginal products of capital, labour and useful energy are variable – the marginal product depends on the levels of capital stock, labour input and useful energy flows. The proposed semi- parametric production function suggests country-specific policy implications for the EU (and other countries). Show less

We propose a novel framework for experimental designs of liberalised wholesale power markets, namely the Agent-based Computational Economics of the Wholesale Electricity Market (ACEWEM) framework. Here, we describe a detailed market simulation whereby the strategies of power generators emerge as a result of a stochastic profit maximization learning algorithm based upon the GAMLSS (Generalized Additive Models for Location Scale and Shape) statistical framework. The ACEWEM framework, which… Show more

We propose a novel framework for experimental designs of liberalised wholesale power markets, namely the Agent-based Computational Economics of the Wholesale Electricity Market (ACEWEM) framework. Here, we describe a detailed market simulation whereby the strategies of power generators emerge as a result of a stochastic profit maximization learning algorithm based upon the GAMLSS (Generalized Additive Models for Location Scale and Shape) statistical framework. The ACEWEM framework, which integrates the agent-based modelling paradigm with formal statistical methods to represent better real-world decision rules, is designed to be the foundation for large custom-purpose experimental studies inspired by computational learning. The paper therefore makes a methodological contribution in the development of an expert model of repeated auctions with capacity and physical constrains. It also makes an applied contribution by providing a more realistic basis for identifying whether high market prices can be ascribed to problems of market structure or exercise of market power. Show less

MASON is an open source multiagent simulation library geared towards simulating very large numbers of relatively lightweight interacting agents. MASON has been used for a wide variety of simulation tasks in robotics, the social sciences, biology, and animation.

On June 15 and 16, 2013, approximately two dozen invitees convened at George Mason University to discuss future directions for MASON and needs of the MASON community. This meeting formed the 2013 MA- SON NSF Workshop, sponsored by… Show more

MASON is an open source multiagent simulation library geared towards simulating very large numbers of relatively lightweight interacting agents. MASON has been used for a wide variety of simulation tasks in robotics, the social sciences, biology, and animation.

On June 15 and 16, 2013, approximately two dozen invitees convened at George Mason University to discuss future directions for MASON and needs of the MASON community. This meeting formed the 2013 MA- SON NSF Workshop, sponsored by the National Science Foundation under CRI CI-P grant 1205626. Show less