126 research outputs found

    Price-Mediated Exchange Equi Iibrium: Its Two Limiting Cases

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    Environmental analysis for application layer networks

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    Die zunehmende Vernetzung von Rechnern über das Internet lies die Vision von Application Layer Netzwerken aufkommen. Sie umfassen Overlay Netzwerke wie beispielsweise Peer-to-Peer Netzwerke und Grid Infrastrukturen unter Verwendung des TCP/IP Protokolls. Ihre gemeinsame Eigenschaft ist die redundante, verteilte Bereitstellung und der Zugang zu Daten-, Rechen- und Anwendungsdiensten, während sie die Heterogenität der Infrastruktur vor dem Nutzer verbergen. In dieser Arbeit werden die Anforderungen, die diese Netzwerke an ökonomische Allokationsmechanismen stellen, untersucht. Die Analyse erfolgt anhand eines Marktanalyseprozesses für einen zentralen Auktionsmechanismus und einen katallaktischen Markt. --Grid Computing

    Distributed Task Management in Cyber-Physical Systems: How to Cooperate under Uncertainty?

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    We consider the problem of task allocation in a network of cyber-physical systems (CPSs). The network can have different states, and the tasks are of different types. The task arrival is stochastic and state-dependent. Every CPS is capable of performing each type of task with some specific state-dependent efficiency. The CPSs have to agree on task allocation prior to knowing about the realized network's state and/or the arrived tasks. We model the problem as a multi-state stochastic cooperative game with state uncertainty. We then use the concept of deterministic equivalence and sequential core to solve the problem. We establish the non-emptiness of the strong sequential core in our designed task allocation game and investigate its characteristics including uniqueness and optimality. Moreover, we prove that in the task allocation game, the strong sequential core is equivalent to Walrasian equilibrium under state uncertainty; consequently, it can be implemented by using the Walras' tatonnement process

    Optimizing Wirelessly Powered Crowd Sensing: Trading energy for data

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    To overcome the limited coverage in traditional wireless sensor networks, \emph{mobile crowd sensing} (MCS) has emerged as a new sensing paradigm. To achieve longer battery lives of user devices and incentive human involvement, this paper presents a novel approach that seamlessly integrates MCS with wireless power transfer, called \emph{wirelessly powered crowd sensing} (WPCS), for supporting crowd sensing with energy consumption and offering rewards as incentives. The optimization problem is formulated to simultaneously maximize the data utility and minimize the energy consumption for service operator, by jointly controlling wireless-power allocation at the \emph{access point} (AP) as well as sensing-data size, compression ratio, and sensor-transmission duration at \emph{mobile sensor} (MS). Given the fixed compression ratios, the optimal power allocation policy is shown to have a \emph{threshold}-based structure with respect to a defined \emph{crowd-sensing priority} function for each MS. Given fixed sensing-data utilities, the compression policy achieves the optimal compression ratio. Extensive simulations are also presented to verify the efficiency of the contributed mechanisms.Comment: arXiv admin note: text overlap with arXiv:1711.0206

    Market-based Risk Allocation for Multi-agent Systems

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    This paper proposes Market-based Iterative Risk Allocation (MIRA), a new market-based distributed planning algorithm for multi-agent systems under uncertainty. In large coordination problems, from power grid management to multi-vehicle missions, multiple agents act collectively in order to optimize the performance of the system, while satisfying mission constraints. These optimal plans are particularly susceptible to risk when uncertainty is introduced. We present a distributed planning algorithm that minimizes the system cost while ensuring that the probability of violating mission constraints is below a user-specified level. We build upon the paradigm of risk allocation (Ono & Williams 2008), in which the planner optimizes not only the sequence of actions, but also its allocation of risk among each constraint at each time step. We extend the concept of risk allocation to multi-agent systems by highlighting risk as a commodity that is traded in a computational market. The equilibrium price of risk that balances the supply and demand is found by an iterative price adjustment process called tˆatonnement (also known as Walrasian auction). Our work is distinct from the classical tˆatonnement approach in that we use Brent’s method to provide fast guaranteed convergence to the equilibrium price. The simulation results demonstrate the efficiency of the proposed distributed planner

    The application of variational inequality theory to the study of spatial equilibrium and disequilibrium

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    Includes bibliographical references (p. 26-29).Supported by the National Science Foundation VPW Program. RII-880361by A. Nagurney

    Is economic planning hypercomputational? The argument from Cantor diagonalisation

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    Murphy [26] argues that the diagonal argument of the number theorist Cantor can be used to elucidate issues that arose in the socialist calculation debate of the 1930s. In particular he contends that the diagonal argument buttresses the claims of the Austrian economists regarding the impossibility of rational planning.We challenge Murphy’s argument, both at the number theoretic level and from the standpoint of economic realism

    Nash Social Welfare Approximation for Strategic Agents

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    The fair division of resources is an important age-old problem that has led to a rich body of literature. At the center of this literature lies the question of whether there exist fair mechanisms despite strategic behavior of the agents. A fundamental objective function used for measuring fair outcomes is the Nash social welfare, defined as the geometric mean of the agent utilities. This objective function is maximized by widely known solution concepts such as Nash bargaining and the competitive equilibrium with equal incomes. In this work we focus on the question of (approximately) implementing the Nash social welfare. The starting point of our analysis is the Fisher market, a fundamental model of an economy, whose benchmark is precisely the (weighted) Nash social welfare. We begin by studying two extreme classes of valuations functions, namely perfect substitutes and perfect complements, and find that for perfect substitutes, the Fisher market mechanism has a constant approximation: at most 2 and at least e1e. However, for perfect complements, the Fisher market does not work well, its bound degrading linearly with the number of players. Strikingly, the Trading Post mechanism---an indirect market mechanism also known as the Shapley-Shubik game---has significantly better performance than the Fisher market on its own benchmark. Not only does Trading Post achieve an approximation of 2 for perfect substitutes, but this bound holds for all concave utilities and becomes arbitrarily close to optimal for Leontief utilities (perfect complements), where it reaches (1+ϵ)(1+\epsilon) for every ϵ>0\epsilon > 0. Moreover, all the Nash equilibria of the Trading Post mechanism are pure for all concave utilities and satisfy an important notion of fairness known as proportionality

    Reaching an equilibrium of prices and holdings of goods through direct buying and selling

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    The Walras approach to equilibrium focuses on the existence of market prices at which the total demands for goods are matched by the total supplies. Trading activities that might identify such prices by bringing agents together as potential buyers and sellers of a good are characteristically absent, however. Anyway, there is no money to pass from one to the other as ordinarily envisioned in buying and selling. Here a different approach to equilibrium -- what it should mean and how it may be achieved -- is offered as a constructive alternative. Agents operate in an economic environment where adjustments to holdings have been needed in the past, will be needed again in a changed future, and money is familiar for its role in facilitating that. Marginal utility provides relative values of goods for guidance in making incremental adjustments, and with money incorporated into utility and taken as num\`eraire, those values give money price thresholds at which an agent will be willing to buy or sell. Agents in pairs can then look at such individualized thresholds to see whether a trade of some amount of a good for some amount of money may be mutually advantageous in leading to higher levels of utility. Iterative bilateral trades in this most basic sense, if they keep bringing all goods and agents into play, are guaranteed in the limit to reach an equilibrium state in which the agents all agree on prices and, under those prices, have no interest in further adjusting their holdings. The results of computer simulations are provided to illustrate how this works
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