Researchers have long proposed using economic approaches to resource
allocation in computer systems. However, few of these proposals became
operational, let alone commercial. Questions persist about the economic
approach regarding its assumptions, value, applicability, and relevance to
system design. The goal of this paper is to answer these questions. We find
that market-based resource allocation is useful, and more importantly, that
mechanism design and system design should be integrated to produce systems that
are both economically and computationally efficient.Comment: Fix rotation of figure