Skip Navigation


IMA Journal of Mathematical Control and Information Advance Access originally published online on August 21, 2009
IMA Journal of Mathematical Control and Information 2009 26(3):325-355; doi:10.1093/imamci/dnp016
This Article
Right arrow FREE Full Text (PDF) Freely available
Right arrow All Versions of this Article:
26/3/325    most recent
dnp016v1
Right arrow Alert me when this article is cited
Right arrow Alert me if a correction is posted
Services
Right arrow Email this article to a friend
Right arrow Similar articles in this journal
Right arrow Alert me to new issues of the journal
Right arrow Add to My Personal Archive
Right arrow Download to citation manager
Right arrowRequest Permissions
Google Scholar
Right arrow Articles by Jia, P.
Right arrow Articles by Caines, P. E.
Social Bookmarking
Add to CiteULike   Add to Connotea   Add to Del.icio.us  
What's this?

© The author 2009. Published by Oxford University Press on behalf of the Institute of Mathematics and its Applications. All rights reserved.

On the rapid convergence of a class of decentralized decision processes: quantized progressive second-price auctions

Peng Jia{dagger}

Department of Electrical and Computer Engineering, McGill University, 3480 University Street, Montreal, QC, H3A 2A7 Canada

Clare W. Qu{ddagger}

Capital One, Toronto, ON, M2N 6L7 Canada

Peter E. Caines§

Department of Electrical and Computer Engineering, McGill University, 3480 University Street, Montreal, QC, H3A 2A7 Canada

{dagger} Email: pjia{at}cim.mcgill.ca

{ddagger} Email: wqu29{at}hotmail.com

§ Corresponding author. Email: peterc{at}cim.mcgill.ca

Received on May 2, 2008; Revision received April 3, 2009. Accepted on June 30, 2009

A progressive second price (PSP) auction mechanism was proposed in Semret et al. (2000, IEEE J. Select. Areas Commun., 18, 2499–2513) for network bandwidth allocation. In this paper, a quantized version of this mechanism (Q-PSP) is analysed where the agents have similar demand functions and submit bids synchronously. It is shown that the nonlinear dynamics induced by this mechanism are such that the prices bid by the various agents and the quantities allocated to these agents converge in at most five iterations or oscillate indefinitely; this behaviour is not only independent of the number of agents involved but also independent of the number of quantization levels.

Keywords: nonlinear dynamics; multiagent systems; progressive second price auctions; markets.


Add to CiteULike CiteULike   Add to Connotea Connotea   Add to Del.icio.us Del.icio.us    What's this?




Disclaimer: Please note that abstracts for content published before 1996 were created through digital scanning and may therefore not exactly replicate the text of the original print issues. All efforts have been made to ensure accuracy, but the Publisher will not be held responsible for any remaining inaccuracies. If you require any further clarification, please contact our Customer Services Department.