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A Market-based Approach to Multi-factory Scheduling

A Market-based Approach to Multi-factory Scheduling
A Market-based Approach to Multi-factory Scheduling
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.
Continuous Double Auction, Scheduling, Trading Strategies
Vytelingum, Perukrishnen
51f06fc5-024c-450d-bff2-e19c943aa87e
Macbeth, Douglas K.
7517843c-fb16-469a-b957-ca9857561130
Dutta, Partha
5013b807-4c85-4e84-ab17-ac8d4ad24d8e
Stranjak, Armin
5e19ac03-657f-4241-ad88-7107858ca674
Rogers, Alex
f9130bc6-da32-474e-9fab-6c6cb8077fdc
Jennings, Nick
ab3d94cc-247c-4545-9d1e-65873d6cdb30
Vytelingum, Perukrishnen
51f06fc5-024c-450d-bff2-e19c943aa87e
Macbeth, Douglas K.
7517843c-fb16-469a-b957-ca9857561130
Dutta, Partha
5013b807-4c85-4e84-ab17-ac8d4ad24d8e
Stranjak, Armin
5e19ac03-657f-4241-ad88-7107858ca674
Rogers, Alex
f9130bc6-da32-474e-9fab-6c6cb8077fdc
Jennings, Nick
ab3d94cc-247c-4545-9d1e-65873d6cdb30

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

Record type: Conference or Workshop Item (Paper)

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.

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More information

Published date: 8 May 2009
Additional Information: Event Dates: May 2009
Venue - Dates: The First Conference on Auctions, Market Mechanisms and Their Applications, United States, 2009-05-01
Keywords: Continuous Double Auction, Scheduling, Trading Strategies
Organisations: Agents, Interactions & Complexity

Identifiers

Local EPrints ID: 265034
URI: https://eprints.soton.ac.uk/id/eprint/265034
PURE UUID: e2be07bf-469f-4d85-9df4-352887f0e537

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Date deposited: 20 Mar 2009 09:59
Last modified: 19 Jul 2019 22:24

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