Efficient Resource Allocation with Non-Concave Objective Functions
Computational Optimization and Applications
The WALRAS Algorithm: A Convergent Distributed Implementation of General Equilibrium Outcomes
Computational Economics
Managing Large Scale Computational Markets
HICSS '98 Proceedings of the Thirty-First Annual Hawaii International Conference on System Sciences-Volume 7 - Volume 7
Information Market-Based Decision Fusion
Management Science
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This article focuses on two major aspects of equilibrium market design: management of discontinuous demand/supply curves, and computational design of markets of huge size with relatively short time frames. The authors introduce a mechanism, ConFAst, for highly dynamic equilibrium markets that allows for huge numbers of active participants in the market, even if they have discontinuous demand/supply curves. The computational efficiency of the approach enables usage also in markets with short time frames. The authors argue that markets based on ConFAst are attractive in many application domains, and that it can improve the efficiency of for example energy systems significantly.