A peer-to-peer market for utility exchanges in Eco-Industrial Parks using automated negotiations

Abstract

Prosumer companies exchanging utility surpluses in Eco-Industrial Parks (EIPs) is a promising alternative for industrial symbiosis to lower investment risks, take advantage of existing capacity and cut emissions. To incentivize participation in EIPs, a trustful mechanism is needed to negotiate and enforce terms of exchange. In this work, a peer-to-peer market of software agents representing different companies in automated negotiations of utility exchanges within an EIP is proposed. Agents will learn to strategically negotiate terms of exchanges while considering private preferences, necessities, and the public negotiation context of this market. Design details for the market comprising technological enablers such as Internet of Things, Blockchain, Smart Contracts and Decentralized Applications are presented. Moreover, the influence of learning context-dependent strategies on negotiation outcomes and market efficiency is analyzed. Results obtained are promising since social welfare and near equilibrium conditions emerge despite the selfish nature of participating companies and individual contextual perceptions of negotiation agents.