Ventana software support forum

Hi,
I want to simulate a pay as bid auction in which all suppliers can sell their electricty to auctioneer with their proposed price to fullfill the demand without using external function. Is it possible to model it in Vensim with some function like Allocate Available? The thing is that, how to implement my priority mechanism to priority part of this function. I want all suppliers' bid(price,quantity) ranked based on their price and suppliers with lower price sell firstly.
Best Regards

The help system links some sample models that illustrate this. It works well, as long as the allocated item is a commodity (their are no specific supplier-demander pairing preferences).

Have you looked at the sample model that comes with Vensim for the allocation functions?

Administrator wrote: ↑Wed Oct 24, 2018 10:18 am Have you looked at the sample model that comes with Vensim for the allocation functions?

Yes, I looked at them and as priority system does not have possibility for price preferences, I was just wondering how to model thess auctions( Uniform or Pay as bid) without using external function.

The priority is a price. https://www.vensim.com/documentation/24325.htm