University of Oulu

V. Haghighatdoost, S. Khorsandi, Z. Khan and H. Ahmadi, "Equilibrium Analysis in Wireless Networks Walrasian Markets: A Distributed Approach," 2021 Joint European Conference on Networks and Communications & 6G Summit (EuCNC/6G Summit), 2021, pp. 199-204, doi: 10.1109/EuCNC/6GSummit51104.2021.9482546

Equilibrium analysis in wireless networks walrasian markets : a distributed approach

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Author: Haghighatdoost, Vahid1; Khorsandi, Siavash1; Khan, Zaheer2;
Organizations: 1Computer Engineering and IT Department, Amirkabir University of Technology, Tehran, Iran
2The 6G Flagship centre, University of Oulu, Finland
3Department of Electronic Engineering, University of York, United Kingdom
Format: article
Version: accepted version
Access: open
Online Access: PDF Full Text (PDF, 0.6 MB)
Persistent link: http://urn.fi/urn:nbn:fi-fe2021102151912
Language: English
Published: Institute of Electrical and Electronics Engineers, 2021
Publish Date: 2021-10-21
Description:

Abstract

A Walrasian Market can be modeled as a distributed system consisting a set of independent buyers and sellers. The Walrasian equilibrium theorem proves the existence of the optimal price that results in the market clean state or Walrasian Equilibrium where the sum of absolute excess demand is zero. It is proved that finding this equilibrium price is an NP-hard problem. In this paper, we present an efficient distributed control-theoretic approach for finding the Walrasian equilibrium in an exchange economy. We have modeled the price adjustment process as a closed-loop control system where the sum of absolute excess demand is measured as the system error that is fed to commodity moderators in a distributed schema simultaneously, and then each commodity moderator adjusts the price of its related commodity. We devised a controller algorithm with low complexity and fast convergence that iteratively moves the error value to zero. The proposed scheme, finds the equilibrium price and Pareto efficient allocation without knowing the shape of user utility functions or their preferences. It is scalable and is usable for exchange economies with multiple goods and many types of users.

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Series: European Conference on Networks and Communications
ISSN: 2475-6490
ISSN-E: 2575-4912
ISSN-L: 2475-6490
ISBN: 978-1-6654-1526-2
ISBN Print: 978-1-6654-3021-0
Article number: 9482546
DOI: 10.1109/EuCNC/6GSummit51104.2021.9482546
OADOI: https://oadoi.org/10.1109/EuCNC/6GSummit51104.2021.9482546
Host publication: Joint 30th European Conference on Networks and Communications and 3rd 6G Summit, EuCNC/6G Summit 2021, 8-11 June 2021, Porto, Portugal
Conference: Joint European Conference on Networks and Communications & 6G Summit
Type of Publication: A4 Article in conference proceedings
Field of Science: 213 Electronic, automation and communications engineering, electronics
Subjects:
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