Market-based Task Allocation for Dynamic Information Processing Environments

• Main Authors: WELLMAN, Michael P., CHENG, Shih-Fen
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2003
• Subjects: decentralized resource allocation; dynamic processing environments; information products; knowledge-intensive tasks; large-scale information processing; market gaming environment; market-based task allocation; price signals propagation; Artificial Intelligence and Robotics; Operations Research, Systems Engineering and Industrial Engineering
• Online Access: https://ink.library.smu.edu.sg/sis_research/1216; http://dx.doi.org/10.1109/KIMAS.2003.1245031
• Institution: Singapore Management University

Flexible and large-scale information processing across enterprises entails dynamic and decentralized control of workflow through adaptive allocation of knowledge and processing resources. Markets comprise a well-understood class of mechanisms for decentralized resource allocation, where agents interacting through a price system direct resources toward their most valued uses as indicated by these prices. The information-processing domain presents several challenges for market-based approaches, including (1) representing knowledge-intensive tasks and capabilities, (2) propagating price signals across multiple levels of information processing, (3) handling dynamic task arrival and changing priorities, and (4) accommodating the increasing-returns and public-good characteristics of information products. A market gaming environment provides a methodology for testing alternative market structures and agent strategies, and evaluating proposed solutions in a realistic decentralized manner.