Chapter 2 Modeling Electricity Markets: A Brief Introduction Alfredo Garcia, Alfredo Garcia Associate Professor Department of Systems and Information Engineering, University of Virginia, Charlottesville, VA, USASearch for more papers by this authorLamine Mili, Lamine Mili Professor Director Department of Electrical and Computer Engineering, Virginia Tech, Northern Virginia Center, Falls Church, VA, USASearch for more papers by this authorJames Momoh, James Momoh Professor Director Department of Electrical and Computer Engineering, Howard University, Washington, DC, USASearch for more papers by this author Alfredo Garcia, Alfredo Garcia Associate Professor Department of Systems and Information Engineering, University of Virginia, Charlottesville, VA, USASearch for more papers by this authorLamine Mili, Lamine Mili Professor Director Department of Electrical and Computer Engineering, Virginia Tech, Northern Virginia Center, Falls Church, VA, USASearch for more papers by this authorJames Momoh, James Momoh Professor Director Department of Electrical and Computer Engineering, Howard University, Washington, DC, USASearch for more papers by this author Book Editor(s):James Momoh, James Momoh Professor Director Department of Electrical and Computer Engineering, Howard University, Washington, DC, USASearch for more papers by this authorLamine Mili, Lamine Mili Professor Director Department of Electrical and Computer Engineering, Virginia Tech, Northern Virginia Center, Falls Church, VA, USASearch for more papers by this author First published: 16 November 2009 https://doi.org/10.1002/9780470529164.ch2Citations: 4 AboutPDFPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShareShare a linkShare onFacebookTwitterLinked InRedditWechat Summary This chapter contains sections titled: Introduction The Basic Structure of a Market for Electricity Modeling Strategic Behavior The Locational Marginal Pricing System of PJM LMP Calculation Using Adaptive Dynamic Programming Conclusions Bibliography Citing Literature Economic Market Design and Planning for Electric Power Systems RelatedInformation