On Resource-Oriented Multi-Commodity Market Computations

Document type: Researchreports
Full text:
Author(s): Fredrik Ygge, Hans Akkermans
Title: On Resource-Oriented Multi-Commodity Market Computations
Series: Research Report
Year: 1998
Issue: 7
ISSN: 1103-1581
Organization: Blekinge Institute of Technology
Department: Dept. of Computer Science and Business Administration (Institutionen för datavetenskap och ekonomi)
Dept. of Computer Science and Business Administration S-372 25 Ronneby
+46 455 780 00
http://www.ide.hk-r.se/
Authors e-mail: fredrik.ygge@enersearch.se
Language: English
Abstract: In search for general equilibrium in multi-commodity markets, price-oriented schemes are normally used. That is, a set of prices
(one price for each commodity) is updated until supply meets demand for each commodity. In some cases such an approach is very inefficient, and a resource-oriented scheme can be highly competitive. In a resource-oriented scheme the allocations are updated until the market equilibrium is found. It is well known that in a two-commodity market resource-oriented schemes are possible. In this paper we show that resource-oriented algorithms can be used for the general multi-commodity case as well, and present and analyze a specific algorithm.
The algorithm has been implemented and some performance properties, for a specific example, are presented.
Summary in Swedish: Artikeln beskriver i detalj hur man kan beräkna en marknadsjämvikt genom att använda allokeringarna som de fria parametrarna.
Subject: Computer Science\Artificial Intelligence
Computer Science\Distributed Computing
Keywords: Resource-oriented algorithms, market-oriented programming, computation of general equilibrium
Note: This paper is an extended version of a paper published at the Third International Conference on Multi-Agent Systems, ICMAS 98. (See also http://cosmos.imag.fr/MAGMA/ICMAS98/)
URN: urn:nbn:se:bth-00107
Edit