A Market-Oriented Programming Environment and its Application to Distributed Multicommodity Flow Problems

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A Market-Oriented Programming Environment and its Application to Distributed Multicommodity Flow Problems (1993)

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by Michael P. Wellman

Venue:	Journal of Artificial Intelligence Research
Citations:	298 - 20 self

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@ARTICLE{Wellman93amarket-oriented,
    author = {Michael P. Wellman},
    title = {A Market-Oriented Programming Environment and its Application to Distributed Multicommodity Flow Problems},
    journal = {Journal of Artificial Intelligence Research},
    year = {1993},
    volume = {1},
    pages = {1--23}
}

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Abstract

Market price systems constitute a well-understood class of mechanisms that under certain conditions provide effective decentralization of decision making with minimal communication overhead. In a market-oriented programming approach to distributed problem solving, we derive the activities and resource allocations for a set of computational agents by computing the competitive equilibrium of an artificial economy. Walras provides basic constructs for defining computational market structures, and protocols for deriving their corresponding price equilibria. In a particular realization of this approach for a form of multicommodity flow problem, we see that careful construction of the decision process according to economic principles can lead to efficient distributed resource allocation, and that the behavior of the system can be meaningfully analyzed in economic terms. 1. Distributed Planning and Economics In a distributed or multiagent planning system, the plan for the system as a whole i...

Keyphrases

market-oriented programming environment distributed multicommodity flow problem corresponding price equilibrium effective decentralization computational market structure competitive equilibrium economic principle certain condition multiagent planning system basic construct market price system particular realization careful construction decision process market-oriented programming approach minimal communication overhead resource allocation well-understood class economic term computational agent multicommodity flow problem distributed resource allocation artificial economy

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