2026-07-072026-07-07http://salesiana.dossiersoluciones.com/handle/123456789/80513Statistical mechanics provides a useful analog for understanding the behavior of complex adaptive systems, including electric power markets and the power systems they intend to govern. Market-based control is founded on the conjecture that the regulation of complex systems based on price-mediated strategies (e.g., auctions, markets) results in an optimal allocation of resources and emergent optimal system control. This paper discusses the derivation and some illustrative applications of a first-principles model of market-based system dynamics based on strict analogies to statistical mechanics.Accepted paper for Complex Systems track of 37th Hawaii International Conference on System Sciences, January 2004. 10 pages, 2 figures, 1 tableAdaptation and Self-Organizing Systemstext