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Abstract
We present a novel market-based method, inspired by retail markets, for resource allocation in fully decentralised systems where agents are self-interested. Our market mechanism requires no coordinating node or complex negotiation. The stability of outcome allocations, those at equilibrium, is analysed and compared for three buyer behaviour models. In order to capture the interaction between self-interested agents, we propose the use of competitive coevolution. Our approach is both highly scalable and may be tuned to achieve specified outcome resource allocations. We demonstrate the behaviour of our approach in simulation, where \textit{evolutionary market agents} act on behalf of service providing nodes to adaptively price their resources over time, in response to market conditions. We show that this leads the system to the predicted outcome resource allocation. Furthermore, the system remains stable in the presence of small changes in price, when buyers' decision functions degrade gracefully.
Original language | English |
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Pages (from-to) | 143-171 |
Number of pages | 29 |
Journal | Autonomous Agents and Multi-Agent Systems |
Volume | 21 |
Issue number | 2 |
DOIs | |
Publication status | Published - 1 Sept 2010 |
Keywords
- evolutionary algorithms
- Decentralised systems
- Self-interested agents
- Coevolution
- Resource allocation
- Capacitated arc routing problem
- Market-based control
- combinatorial optimization
- Load balancing
- time-limited service
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Dive into the research topics of 'Resource Allocation in Decentralised Computational Systems: An Evolutionary Market-Based Approach'. Together they form a unique fingerprint.Projects
- 1 Finished
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Market Based Control of Complex Computational Systems
Engineering & Physical Science Research Council
1/10/04 → 31/03/10
Project: Research Councils