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The average economic agent is often used to model the dynamics of simplemarkets, based on the assumption that the dynamics of many agents can beaveraged over in time and space. A popular idea that is based on this seeminglyintuitive notion is to dampen electric power fluctuations from fluctuatingsources (as e.g. wind or solar) via a market mechanism, namely by variablepower prices that adapt demand to supply. The standard model of an averageeconomic agent predicts that fluctuations are reduced by such an adaptivepricing mechanism.  However, the underlying assumption that the actions of all agents average outon the time axis is not always true in a market of many agents. We numericallystudy an econophysics agent model of an adaptive power market that does notassume averaging a priori. We find that when agents are exposed to source noisevia correlated price fluctuations (as adaptive pricing schemes suggest), themarket may amplify those fluctuations. In particular, small price changes maytranslate to large load fluctuations through catastrophic consumersynchronization. As a result, an adaptive power market may cause the oppositeeffect than intended: Power fluctuations are not dampened but amplifiedinstead.

Econophysics of adaptive power markets: When a market does not dampen fluctuations but amplifies them