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Utility pricing auction for multi-period resource allocation in multi-machine flow shop problems

Published: 19 August 2008 Publication History

Abstract

In this paper, we consider a multi-machine multi-period resource allocation problem among multiple agents, each of which is responsible to solve a flowshop scheduling problem. We present an iterated combinatorial auction approach in which bid generation is performed within each agent, and the concept of utility pricing is then applied in the process of price adjustment. We compare with the conventional price adjustment scheme proposed in Fisher (1985), and show better convergence properties. Experimentally, we compare our approach against an integer programming model as well as conventional price adjustment schemes, and achieve drastic run time improvement.

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  • (2011)Allocating Resources in Multiagent Flowshops With Adaptive AuctionsIEEE Transactions on Automation Science and Engineering10.1109/TASE.2011.21605368:4(732-743)Online publication date: Oct-2011

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cover image ACM Other conferences
ICEC '08: Proceedings of the 10th international conference on Electronic commerce
August 2008
355 pages
ISBN:9781605580753
DOI:10.1145/1409540
Permission to make digital or hard copies of all or part of this work for personal or classroom use is granted without fee provided that copies are not made or distributed for profit or commercial advantage and that copies bear this notice and the full citation on the first page. Copyrights for components of this work owned by others than ACM must be honored. Abstracting with credit is permitted. To copy otherwise, or republish, to post on servers or to redistribute to lists, requires prior specific permission and/or a fee. Request permissions from [email protected]

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Published: 19 August 2008

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ICEC08
ICEC08: 10th International Conference on E-Commerce
August 19 - 22, 2008
Innsbruck, Austria

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Overall Acceptance Rate 150 of 244 submissions, 61%

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  • (2011)Allocating Resources in Multiagent Flowshops With Adaptive AuctionsIEEE Transactions on Automation Science and Engineering10.1109/TASE.2011.21605368:4(732-743)Online publication date: Oct-2011

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