Managing Large Scale Computational Markets
This paper is rather technical and written for people with background in
computer science and special interest in algorithms and/or mathematics.
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.
The paper is under copyright of IEEE
A slightly updated version of the paper in zipped
The published version of the paper in zipped
The slides from the presentation in PDF format.