Please use this identifier to cite or link to this item: https://doi.org/10.1109/TASE.2011.2160536
Title: Allocating resources in multiagent flowshops with adaptive auctions
Authors: Lau, H.C.
Zhao, Z.J.
Ge, S.S. 
Lee, T.H. 
Keywords: Auction
decentralized decision making
flow shop
resource allocation
Issue Date: Oct-2011
Source: Lau, H.C.,Zhao, Z.J.,Ge, S.S.,Lee, T.H. (2011-10). Allocating resources in multiagent flowshops with adaptive auctions. IEEE Transactions on Automation Science and Engineering 8 (4) : 732-743. ScholarBank@NUS Repository. https://doi.org/10.1109/TASE.2011.2160536
Abstract: In this paper, we consider the problem of allocating machine resources among multiple agents, each of which is responsible to solve a flowshop scheduling problem. We present an iterated combinatorial auction mechanism in which bid generation is performed within each agent, while a price adjustment procedure is performed by a centralized auctioneer. While this approach is fairly well-studied in the literature, our primary innovation is in an adaptive price adjustment procedure, utilizing variable step-size inspired by adaptive PID-control theory coupled with utility pricing inspired by classical microeconomics. We compare with the conventional price adjustment scheme proposed in Fisher (1985), and show better convergence properties. Our secondary contribution is in a fast bid-generation procedure executed by the agents based on local search. Putting both these innovations together, we compare our approach against a classical integer programming model as well as conventional price adjustment schemes, and show drastic run time improvement with insignificant loss of global optimality. © 2011 IEEE.
Source Title: IEEE Transactions on Automation Science and Engineering
URI: http://scholarbank.nus.edu.sg/handle/10635/54965
ISSN: 15455955
DOI: 10.1109/TASE.2011.2160536
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