Market-based Control: A Paradigm For Distributed Resource Allocation A Paradigm for Distributed Resource Allocation

Market-Based Control is a paradigm for controlling complex systems that would otherwise be very difficult to control, maintain, or expand. The purpose of this volume is to illustrate the utility of market-based control through a series of papers focusing on different applications. This volume, for the first time, brings together the research from a wide range of fields all using a market-based conceptual framework. The features of markets that have provided motivation for these works include decentralization, interacting agents, and some notion of a resource that needs to be allocated. The papers span a range including theoretical considerations, simulations, and implementations. 1. A Computational Market Model Based on Individual Action 2. Valuation of Network Computing Resources 3. An Equilibratory Market-Based Approach for Distributed Resource Allocation and Its Applications to Communication Network Control 4. Market-Oriented Programming: Some Early Lessons 5. An Automated Auction in ATM Network Bandwidth 6. A Market Approach to Operating System Memory Allocation 7. Economic Models for Allocating Resources in Computer Systems 8. Metaphor or Reality: A Case Study where Agents Bid with Actual Costs to Schedule a Factory 9. Machining Task Allocation in Discrete Manufacturing Systems 10. Saving Energy Using Market-Based Control 11. The Use of Computer-Assisted Auctions for Allocating Tradeable Pollution Permits Market-based control is a paradigm for controlling complex systems that would otherwise be difficult to control, maintain or expand. These papers discuss theoretical considerations, simulations and implementations, illustrating the utility of market-based control.