A Market-based Approach to Multi-factory Scheduling


Vytelingum, Perukrishnen, Macbeth, Douglas K., Dutta, Partha, Stranjak, Armin, Rogers, Alex and Jennings, Nick (2009) A Market-based Approach to Multi-factory Scheduling. In, The First Conference on Auctions, Market Mechanisms and Their Applications, Boston, US,

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Description/Abstract

In this paper, we report on the design of a novel market-based approach for decentralised scheduling across multiple factories. Specifically, because of the limitations of scheduling in a centralised manner -- which requires a center to have complete and perfect information for optimality and the truthful revelation of potentially commercially private preferences to that center -- we advocate an informationally decentralised approach that is both agile and dynamic. In particular, this work adopts a market-based approach for decentralised scheduling by considering the different stakeholders representing different factories as self-interested, profit-motivated economic agents that trade resources for the scheduling of jobs. The overall schedule of these jobs is then an emergent behaviour of the strategic interaction of these trading agents bidding for resources in a market based on limited information and their own preferences. Using a simple (zero-intelligence) bidding strategy, we empirically demonstrate that our market-based approach achieves a lower bound efficiency of 84%. This represents a trade-off between a reasonable level of efficiency (compared to a centralised approach) and the desirable benefits of a decentralised solution.

Item Type: Conference or Workshop Item (Paper)
Additional Information: Event Dates: May 2009
Keywords: Continuous Double Auction, Scheduling, Trading Strategies
Divisions: Faculty of Physical Sciences and Engineering > Electronics and Computer Science > Agents, Interactions & Complexity
ePrint ID: 265034
Date Deposited: 20 Mar 2009 09:59
Last Modified: 28 Mar 2014 15:12
Projects:
AUTONOMIC SUPPLY CHAINS IN COMPUTATIONAL ECONOMIES
Funded by: EPSRC (EP/F067143/1)
Led by: Nick Jennings
1 April 2008 to 31 March 2009
Further Information:Google Scholar
ISI Citation Count:0
URI: http://eprints.soton.ac.uk/id/eprint/265034

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