At the University of Southern Denmark, an experiment applying AnyLogic simulation software showed how electricity costs could vary using demand response. Savings in electricity could be made by comparing different factors and parameters and focusing on a single industrial consumer.
Economic analysis and simulation modeling are not often combined. As a result, one researcher decided to develop an agent-based model of economic and financial cycles using three economic theories to better understand the role of decision making in a complex financial system.
Climate change is a pressing issue for our world and one of the ways to overcome this is through the use of technology. Researchers at UCL aimed to improve upon previous agent-based modeling for multi-energy networks in addition to experimenting with integrated energy system simulation using real-world case study data.