NDLI: Decentralized control of a multi-agent stochastic dynamic resource allocation problem

Content Provider	IEEE Xplore Digital Library
Author	Huaning Cai Lim, A.E.B.
Copyright Year	2011
Description	Author affiliation: Department of Industrial Engineering and Operations Research, University of California, Berkeley, 94729, USA (Huaning Cai; Lim, A.E.B.)
Abstract	We study a stochastic system consisting of multiple decentralized control agents who allocate shared system resources in response to requests that arrive stochastically over time. Decentralized agents in our system maximize their own objectives subject to potentially mis-specified models of the way in which system resources are consumed by other agents in the system. We introduce the notion of a transfer price, which is a contract that describes the way in which decentralized agents compensate other agents in the system for using shared resources whenever they satisfy a request. We characterize transfer prices under which there is no efficiency loss relative to the optimal system-wide expected revenue when it is managed by a fully-knowledgeable centralized controller. We also show that optimality of these contracts is insensitive to mis-specification by each of the agents of the behavior of other agents in the system.
Starting Page	6400
Ending Page	6406
File Size	345823
Page Count	7
File Format	PDF
ISBN	9781612848006
ISSN	07431546
e-ISBN	9781612848013
e-ISBN	9781612847993
DOI	10.1109/CDC.2011.6161530
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2011-12-12
Publisher Place	USA
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Contracts Equations Mathematical model Distributed control Raw materials Dynamic programming Stochastic processes
Content Type	Text
Resource Type	Article
Subject	Control and Optimization Control and Systems Engineering Modeling and Simulation

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