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Hidden markets: UI design for a P2P backup application
Proceedings of the SIGCHI Conference on Human Factors in Computing Systems
Prices are right: managing resources and incentives in peer-assisted content distribution
IPTPS'08 Proceedings of the 7th international conference on Peer-to-peer systems
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Off-line incentive mechanism for long-term P2P backup storage
Computer Communications
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In this paper we take the problem of a market-based P2P backup application and carry it through market design, to implementation, to theoretical and experimental analysis. While the long-term goal is an open market using real money, here we consider a system where monetary transfers are prohibited. We first describe the design of the P2P resource exchange market and the UI we developed. Second, we prove theorems on equilibrium existence and uniqueness. Third, we prove a surprising impossibility result regarding the limited controllability of the equilibrium and show how to address this. Fourth, we present a price update algorithm that uses daily supply and demand information to move prices towards the equilibrium and we provide a theoretical and experimental convergence analysis. The market design described in this paper is already implemented as part of a Microsoft research project on P2P backup systems and an alpha version of the software has been successfully tested.