Managing Large-Scale Computational Markets

Document type: Researchreports
Full text:
Author(s): Arne Andersson, Fredrik Ygge
Title: Managing Large-Scale Computational Markets
Translated title: Hantering av stora datorbaserade marknader
Series: Research Report
Year: 1998
Issue: 4
ISSN: 1103-1581
Organization: Blekinge Institute of Technology
Department: Dept. of Computer Science and Business Administration (Institutionen för datavetenskap och ekonomi)
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+46 455 780 00
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Authors e-mail: arne@dna.lth.se, fredrik.ygge@enersearch.se
Language: English
Abstract: General equilibrium theory has been proposed for resource allocation in computational markets. The basic procedure is that agents submit bids and that a resource (re)allocation is performed when a set of prices (one for
each commodity) is found such that supply meets demand for each commodity. For successful implementation of large markets based on general equilibrium theory, efficient algorithms for finding the equilibrium are required.

We discuss some drawbacks of current algorithms for large scale equilibrium markets and present a novel distributed algorithm, CoTree, which deals with the most important problems. CoTree is communication sparse, fast in adapting to preference changes of a few agents, have minimal requirements on local data, and is easy to implement.
Summary in Swedish: Artikeln beskriver hur man effektivt kan implementera stora datorbaserade marknader. Fördelarna jämfört med befintliga algoritmer är framförallt relaterade till det låga kravet på kommunikation.
Subject: Computer Science\Artificial Intelligence
Computer Science\Distributed Computing
Computer Science\Networks and Communications
Keywords: distributed algorithms, computational markets, market-oriented programming, multi-agent systems, efficiency
Note: The received the best paper award of the Software Technology Track at The Hawaiian International Conference on System Sciences (HICSS 98). http://www.opengroup.org/RI/HICSS31-agents/
URN: urn:nbn:se:bth-00077
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