Equilibrium Analysis Based Pricing Mechanism in a MultiAgent Based Supply-Chain System

Author

Ke, Ke ; Jin, Yue ; Zhang, Haizheng

Author_Institution

Univ. of Arkansas, Monticello

fYear

2007

fDate

5-12 Nov. 2007

Firstpage

463

Lastpage

466

Abstract

This paper describes the pricing mechanism adopted by UAM-TAC, a multi-agent based supply-chain system that will compete in TAC SCM (trading agent competition supply chain management) 2007. UAM-TAC consists of a procurement agent, an inventory agent, a production agent, a bidding agent and a delivery agent. The pricing mechanism is based on the equilibrium policy derived from the projected dynamic system, whose trajectory describes the dynamic evolution of product transactions, demand market prices, and shadow prices that the manufactures are willing to pay for the components. The game performance demonstrates that UAM-TAC is very responsive to the market price fluctuations and capacity variability.

Keywords

multi-agent systems; pricing; supply chain management; UAM-TAC; bidding agent; delivery agent; equilibrium analysis; inventory agent; market price fluctuations; multiagent based supply-chain system; pricing mechanism; procurement agent; production agent; Computational modeling; Decision making; Fluctuations; Game theory; Intelligent agent; Pricing; Procurement; Production; Supply chains; Uncertainty; equilibrium analysismulti-agentsupply chain systemprojected dynamic system;

fLanguage

English

Publisher

ieee

Conference_Titel

Web Intelligence and Intelligent Agent Technology Workshops, 2007 IEEE/WIC/ACM International Conferences on

Conference_Location

Silicon Valley, CA

Print_ISBN

0-7695-3028-1

Type

conf

DOI

10.1109/WI-IATW.2007.120

Filename

4427629