Operations Research, Systems Engineering and Industrial Engineering Commons^™

Allocating Resources In Multiagent Flowshops With Adaptive Auctions, Hoong Chuin Lau, Zhengyi Zhao, Sam Shuzhi Ge, Thong Heng Lee

Research Collection School Of Computing and Information Systems

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 …