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An Online Mechanism for Multi-Unit Demand and its Application to Plug-in Hybrid Electric Vehicle Charging

An Online Mechanism for Multi-Unit Demand and its Application to Plug-in Hybrid Electric Vehicle Charging
An Online Mechanism for Multi-Unit Demand and its Application to Plug-in Hybrid Electric Vehicle Charging
We develop an online mechanism for the allocation of an expiring resource to a dynamic agent population. Each agent has a non-increasing marginal valuation function for the resource, and an upper limit on the number of units that can be allocated in any period. We propose two versions on a truthful allocation mechanism. Each modifies the decisions of a greedy online assignment algorithm by sometimes cancelling an allocation of resources. One version makes this modification immediately upon an allocation decision while a second waits until the point at which an agent departs the market. Adopting a prior-free framework, we show that the second approach has better worst-case allocative efficiency and is more scalable. On the other hand, the first approach (with immediate cancellation) may be easier in practice because it does not need to reclaim units previously allocated. We consider an application to recharging plug-in hybrid electric vehicles (PHEVs). Using data from a real-world trial of PHEVs in the UK, we demonstrate higher system performance than a fixed price system, performance comparable with a standard, but non-truthful scheduling heuristic, and the ability to support 50% more vehicles at the same fuel cost than a simple randomized policy.
175-230
Robu, Valentin
36b30550-208e-48d4-8f0e-8ff6976cf566
Gerding, Enrico H.
d9e92ee5-1a8c-4467-a689-8363e7743362
Stein, Sebastian
cb2325e7-5e63-475e-8a69-9db2dfbdb00b
Parkes, David C.
3c873bcd-d181-4d6f-9347-ac345399f8d3
Rogers, Alex
f9130bc6-da32-474e-9fab-6c6cb8077fdc
Jennings, Nicholas R.
ab3d94cc-247c-4545-9d1e-65873d6cdb30
Robu, Valentin
36b30550-208e-48d4-8f0e-8ff6976cf566
Gerding, Enrico H.
d9e92ee5-1a8c-4467-a689-8363e7743362
Stein, Sebastian
cb2325e7-5e63-475e-8a69-9db2dfbdb00b
Parkes, David C.
3c873bcd-d181-4d6f-9347-ac345399f8d3
Rogers, Alex
f9130bc6-da32-474e-9fab-6c6cb8077fdc
Jennings, Nicholas R.
ab3d94cc-247c-4545-9d1e-65873d6cdb30

Robu, Valentin, Gerding, Enrico H., Stein, Sebastian, Parkes, David C., Rogers, Alex and Jennings, Nicholas R. (2013) An Online Mechanism for Multi-Unit Demand and its Application to Plug-in Hybrid Electric Vehicle Charging. Journal of Artificial Intelligence Research, 48, 175-230.

Record type: Article

Abstract

We develop an online mechanism for the allocation of an expiring resource to a dynamic agent population. Each agent has a non-increasing marginal valuation function for the resource, and an upper limit on the number of units that can be allocated in any period. We propose two versions on a truthful allocation mechanism. Each modifies the decisions of a greedy online assignment algorithm by sometimes cancelling an allocation of resources. One version makes this modification immediately upon an allocation decision while a second waits until the point at which an agent departs the market. Adopting a prior-free framework, we show that the second approach has better worst-case allocative efficiency and is more scalable. On the other hand, the first approach (with immediate cancellation) may be easier in practice because it does not need to reclaim units previously allocated. We consider an application to recharging plug-in hybrid electric vehicles (PHEVs). Using data from a real-world trial of PHEVs in the UK, we demonstrate higher system performance than a fixed price system, performance comparable with a standard, but non-truthful scheduling heuristic, and the ability to support 50% more vehicles at the same fuel cost than a simple randomized policy.

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More information

Accepted/In Press date: 1 September 2013
Published date: 2013
Organisations: Electronics & Computer Science

Identifiers

Local EPrints ID: 356347
URI: https://eprints.soton.ac.uk/id/eprint/356347
PURE UUID: dbc3c2dc-8b60-4868-ae9a-e3fb6d4f16a4

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Date deposited: 02 Sep 2013 20:23
Last modified: 24 Jul 2017 16:39

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Contributors

Author: Valentin Robu
Author: Enrico H. Gerding
Author: Sebastian Stein
Author: David C. Parkes
Author: Alex Rogers
Author: Nicholas R. Jennings

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