Some scarce resources, like a factory production line, produce a steady but fixed flow of goods or services. The difficulties common to their efficient use are exemplified by the problem of scheduling a single machine. Scheduling even a single machine is NP-hard--nonetheless, simulated bidders and human bidders can achieve 80 to 99 percent efficiency in a market for scheduling. These success rates are higher than heuristic algorithms currently in use. A market for scheduling provides an incentive to accurately report valuations. Combining operations research and experimental economics, this study presents and tests a prototype for a continuous time, combinatorial market for scheduling. This study reveals that real-time combinatorial markets are possible with off-the-shelf technology. In addition, such markets could be implemented to more efficiently solve problems of personnel and resource scheduling.
| Identifer | oai:union.ndltd.org:arizona.edu/oai:arizona.openrepository.com:10150/288811 |
| Date | January 1996 |
| Creators | Dinkin, Samuel Howard |
| Contributors | Smith, Vernon L. |
| Publisher | The University of Arizona. |
| Source Sets | University of Arizona |
| Language | en_US |
| Detected Language | English |
| Type | text, Dissertation-Reproduction (electronic) |
| Rights | Copyright © is held by the author. Digital access to this material is made possible by the University Libraries, University of Arizona. Further transmission, reproduction or presentation (such as public display or performance) of protected items is prohibited except with permission of the author. |
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