Some Economics of Market-Based Distributed Scheduling
(Download full paper)Filed under research category: Online market design
Tagged as: online_markets e-commerce smart_markets market_design auctions empirical_game_analysis bidding_strategies trading_agents automated_markets market_based_scheduling
Authors
MacKie-Mason, Jeffrey K. Walsh, William E. Wellman, Michael P. Wurman, Peter
Publication date
May, 1998
Abstract
Market mechanisms solve distributed scheduling problems by allocating the scheduled resources according to market prices. We model distributed scheduling as a discrete resource allocation problem, and demonstrate the applicability of economic analysis to this framework. Drawing on results from the literature, we discuss the existence of equilibrium prices for some general classes of scheduling problems, and the quality of equilibrium solutions. We then present two protocols for implementing market solutions, and analyze their computational and economic properties.
Citation
The 18th International Conference on Distributed Computing Systems (ICDCS'98), May 1998.