Title :
Analysis of a class of decentralized decision processes: Quantized progressive second price auctions
Author :
Qu, Clare W. ; Jia, Peng ; Caines, Peter E.
Author_Institution :
Capital One, Toronto
Abstract :
A progressive second price (PSP) auction mechanism was proposed in N. Sermet, et al., (Dec. 2000) for network bandwidth allocation. In this paper a quantized version of this mechanism (QPSP) is analyzed where the agents have similar demand functions and submit bids synchronously. It is shown that the non-linear dynamics induced by this mechanism are such that the prices bid by the various agents and the quantities allocated to these agents converge in at most five iterations or oscillate indefinitely, independently of the number of agents involved.
Keywords :
commerce; decision theory; pricing; decentralized decision process; dynamic network service market-pricing; network bandwidth allocation; quantized progressive second price auctions; Access control; Access protocols; Bandwidth; Channel allocation; Convergence; Cost accounting; Diffserv networks; Quantization; Resource management; USA Councils;
Conference_Titel :
Decision and Control, 2007 46th IEEE Conference on
Conference_Location :
New Orleans, LA
Print_ISBN :
978-1-4244-1497-0
Electronic_ISBN :
0191-2216
DOI :
10.1109/CDC.2007.4434926
