Efficient Bidding in Dynamic Grid Markets
We analyze rational strategies of users in a dynamic grid market. We consider efficient usage of the shared resources in modeling users' preference relations, an objective that prevents congestion and consequently the collapse of the grid system. A repeated auction-based allocation protocol is presented for sharing the computational grid resources. We present a utility-maximizing bidding algorithm and illustrate the transient and long-term attitudes of users in an equilibrium of the dynamic resource-allocation game. It is shown that efficient bidding improves the long-term profits of the grid users.
grid computing resource allocation dynamic game theory repeated games auction theory