Authors
Michael P Wellman, William E Walsh, Peter R Wurman, Jeffrey K MacKie-Mason
Publication date
2001/4/1
Journal
Games and economic behavior
Volume
35
Issue
1-2
Pages
271-303
Publisher
Academic Press
Description
Decentralized scheduling is the problem of allocating resources to alternative possible uses over time, where competing uses are represented by autonomous agents. Market mechanisms use prices derived through distributing bidding protocols to determine schedules. We investigate the existence of equilibrium prices for some general classes of scheduling problems, the quality of equilibrium solutions, and the behavior of an ascending auction mechanism and bidding protocol. To remedy the potential nonexistence of price equilibria due to complementarities in preference, we introduce additional markets in combinations of basic goods. Finally, we consider direct revelation mechanisms and compare to the market-based approach. Journal of Economic Literature Classification Numbers: C62, C70, D44.
Total citations
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Scholar articles
MP Wellman, WE Walsh, PR Wurman… - Games and economic behavior, 2001
JK Mackie-Mason, WE Walsh, MP Wellman… - 1999